Social Entrepreneurship: Do Well to Do Good

| Shelley Stern Grach

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Spring is the season of Challenges. No, I’m not talking about Chicago weather. I’m talking about all the various educational programs going on about town that encourage students to think outside the box to solve big problems. A week ago, I wrote about the fabulous Bully Busters team from Lake View High School participating in the ISTC STEM Challenge. The Bully Busters creatively used the Internet of Things (IoT) to solve a serious issue in today’s elementary and high schools—bullying.

Last week, I had the wonderful opportunity to participate as a judge in the Sixth Annual John Edwardson Social New Venture Challenge (SNVC) Finals at the University of Chicago’s Booth School.

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This program was developed by Chicago Booth’s Social Enterprise Initiative and the Polsky Center for Entrepreneurship and Innovation. The SNVC empowers students to conceptualize, develop and launch new ventures with a focus on social impact and a model for financial sustainability. The Booth students participating in the SNVC Challenge also took the New Social Ventures class from Robert H. Gertner,  Joel F. Germunder Professor of Strategy and Finance, Chicago Booth; and Faculty Codirector, Social Enterprise Initiative. I’ve had the pleasure of partnering with Bob for the past two years on candidate selection for the University of Chicago’s Civic Leadership Academy, and it’s rewarding to see how his students are tackling social and world challenges with an eye to innovation and financial viability.

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Out of 16 teams, we had the opportunity to listen and evaluate presentations from seven finalists. The teams included:

  • JoinGiving-a digital platform that helps companies court customers through the causes they support.
  • AccessArt-a socially conscious legal technology company that seeks to mitigate the effects of mass incarceration.
  • Mind Matters-a telehealth platform for US veterans who are looking to find and receive counseling from mental health practitioners.
  • Act3-makes life better for people with serious illnesses and for those who love them.
  • Solar Bus 4 Schools-tackling the issue of children’s exposure to poor air quality from school bus diesel emissions.
  • ReadAskChat-a home based, early learning system that fosters school readiness through family reading and conversation.
  • KitchenNet-connects community centers, public kitchens and cooks to provide affordable healthy meals for vulnerable families living in food desert areas.

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As you think about this list, and the wide range of critical needs these programs are addressing, we can see how millennials are both captivated and motivated by the rise of Social Enterprises as a way of doing business. I was really impressed with the professionalism of their presentations and analysis (it is Booth after all), but I was more impressed with the passion and the purpose of their ventures. Each carved out a significant issue (health, veterans, criminal justice, environmental, etc.) that directly impacts the human potential of our society. It was an honor, and a real pleasure, to participate as a judge for the Social New Venture Challenge. Fingers crossed that all of the teams will find funding, success and make a real impact on our world.

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Shelley Stern Grach

They say that great work stems from a combination of passion and commitment, something that Shelley certainly possesses when it comes to her life and career. She currently serves on the boards of the Women’s Business Development Center, the Chicagoland Chamber of Commerce, Thrive Chicago, Year Up and LISC Chicago. At Microsoft Chicago, she’s the Director of Civic Engagement, working at the intersection of computing and community, promoting STEM programs and using Microsoft technology to spur growth in the community. So no matter if it's work, play, or giving back, Shelley always makes sure her drive and professionalism help her complete her life's goals.