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Ferd’s Social Entrepreneurs

    - or How to Make a Difference



           Johan H. Andresen
American Chamber of Commerc...
Ferd’s Business Areas

                                                     Group
                                        ...
Images of Ferd




                 3
Ferd – January 2008

• Industrial and financial investment company

• Turnover: ca. NOK 24 billion*

• Employees: ca. 20,0...
Corporate mission, vision and values

                             VISION
                We will create enduring value an...
Social Entrepreneurs – Who are they?

• People with innovative solutions to society’s most
  pressing social problems

• B...
International Social Entrepreneurs
- some examples

• Gustave Moynier & Henri Dunant                      (Red Cross)


• ...
Norwegian Social entrepreneurs
    - some examples

•   Natteravnene           Dag Halgard og Gudmund
                    ...
Why do we choose Social Entrepreneurs?

• A further possibility for Ferd to move towards our
  vision and to live up to ou...
What is Ferd’s contribution?

Exactly the same as we can and do contribute to other companies
and organisations:

Our oper...
Which “sectors” to focus on

• Children and Youth
   – Projects which creates a new future – instead of simply
     repair...
Criteria for selecting our involvement


• A Social Entrepreneur/team ”with Ferd’s values”
• May really make a difference
...
Examples of what we do not want to get involved in:
 • Projects which clearly are public responsibilities:
    –   Unless ...
Geographic focus area

• Norway
• International if:

   – The concept is known by us              (JA-YE Europe)


   – Th...
Ferd’s Social Entrepreneurs: Capital & Mandate

• 8-12 running engagements in year 5 (2013)


• Beyond year 5:
   – 1-3 ne...
Ferd’s Social entrepreneurs (1)
•   Junior Achievement - Young Enterprise              NOK 1 million/year

     – Contribu...
Ferd’s Social Entrepreneurs (2)
•   Forskerfabrikken - Hanne S. Finstad             NOK 800,000/year
     – Courses and tr...
Social Entrepreneurs
– some unanswered questions

• ”Deal-flow”/supply of projects in Norway
   – Is it large enough and g...
Ferd Social Entrepreneurs
Ferd Social Entrepreneurs
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Ferd Social Entrepreneurs

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Ferd Social Entrepreneurs

  1. 1. Ferd’s Social Entrepreneurs - or How to Make a Difference Johan H. Andresen American Chamber of Commerce, March 26 2009
  2. 2. Ferd’s Business Areas Group Executive Board Business areas Ferd Ferd Ferd Ferd Ferd Capital Invest External Real Estate Venture Management Investments • Elopak (100%) • Norwegian • Hedge funds • Real Estate • Direct • Swix Sport equities • Mutual funds Development investments (100%) • Swedish • Private Equity • Real Estate • Energy • Aibel (~37%) equities funds Investments Ventures • Kongsberg • Herkules • Real Estate Fund I, II Automotive Private Equity Management and III (~17%) Fund I and II • Energy • Herkules Ventures AS Capital (40%) (25%)
  3. 3. Images of Ferd 3
  4. 4. Ferd – January 2008 • Industrial and financial investment company • Turnover: ca. NOK 24 billion* • Employees: ca. 20,000* *Incl. 50+% owned companies Value-adjusted equity Return on capital% NOK mrd. 18 30 % 28 % 15,4 16 25 % 14 12,5 22 % 12 10,9 20 % 10 8,3 15 % 15 % 8 7,4 12 % 6 10 % 4 5% 2 0 0% 2003 2004 2005 2006 2007 4
  5. 5. Corporate mission, vision and values VISION We will create enduring value and Operational make a lasting impression Corporate values values Expertise Credibility Networking POSITION Spirit of An owner and partner who seeks new Adventure avenues for turning bright ideas into Capital sound business Teamwork Long-term view MISSION Ferd will focus on being a pro-active long-term owner of strong companies with international potential as well as operating as a financial investor, making use of its core expertise in finance, business development and networking 5
  6. 6. Social Entrepreneurs – Who are they? • People with innovative solutions to society’s most pressing social problems • Business methods for a ”double bottom line” – A social and a financial bottom line • A desire to change perceptions and thereby changing entire systems • Visionaries and realists – implementation of the vision before anything else 6
  7. 7. International Social Entrepreneurs - some examples • Gustave Moynier & Henri Dunant (Red Cross) • Robert Baden-Powell (The Scout movement) • Eglantyne Jebb & Dorothy Buxton (Save the Children) • Mary Gordon (developed Roots of Empathy, ROE, a class-room based development program for children as young as three years old, Canada, spread over great parts of the world) • Kurt Hahn (founder of Atlantic College, Outward Bound, etc.) • Muhammad Yunus (Grameen Bank) 7
  8. 8. Norwegian Social entrepreneurs - some examples • Natteravnene Dag Halgard og Gudmund Johnsen, Oslo Police Dept. • =Oslo Vibeke Omberg • ER–bedrift Lise Aasmundstad and Wenche Wærner • Gatejuristen Cathrine Moksness, Kirkens Bymisjon and Fransiscushjelpen • Right to Play Johann Olav Koss • Fretex Salvation Army • Mother Courage Bitten Schei • Forskerfabrikken Hanne Finstad • Ungt Entreprenørskap Several ministries and organisations • Civita NHO og Norwegian Shipowners Association • NMI Ferd & Norfund 8
  9. 9. Why do we choose Social Entrepreneurs? • A further possibility for Ferd to move towards our vision and to live up to our values • Ferd’s human resources and expertise are particularly effective for Social Entrepreneurs, and we may therefore have stronger impact than other investors • This could enable my successors to see new opportunities with, and effects of, their ownership Ferd’s vision: ”We will create enduring value and make a lasting impression” 9
  10. 10. What is Ferd’s contribution? Exactly the same as we can and do contribute to other companies and organisations: Our operational values; – Expertise • Strategy • Business development • Finance – Networking • Local & international, especially Northern Europa • Covers many industries and services • Private and public sector – Capital • Competent and demanding • Active ownership 10
  11. 11. Which “sectors” to focus on • Children and Youth – Projects which creates a new future – instead of simply repairing a past • Education & Empowerment – ”Education is the most powerful weapon you can use to change the world” – Nelson Mandela ”They (The Social Entrepreneurs) build or work in organisations which enables people, especially children and youth to develop and expand their ideas, and work towards their own goals”” (Extract JHA whitepaper) 11
  12. 12. Criteria for selecting our involvement • A Social Entrepreneur/team ”with Ferd’s values” • May really make a difference • May be scaled and preferably exported • Measurable results/savings/impact • Ferd can contribute with expertise and network • Ferd employees are willing to use time on the project • Ferd can bring in other partners (public or private) 12
  13. 13. Examples of what we do not want to get involved in: • Projects which clearly are public responsibilities: – Unless we can contribute with creative solutions which ensures public challenges a stronger focus, making the government to take responsibility (ER-bedrift) • Cases which obviously others should take responsibility for: – (Example: A legal firm & Gatejuristen) • Large established organisations (Example: Save the Children) – Unless these launch independent projects (Example: Kirkens Bymisjon and Gatejuristen) • Established cultural activities (Example: music festivals, museums, etc) • Medical research – Unless we already are involved, i.e. Joh. H. Andresens Medisinske Fond or the project can be defined as pioneering) • Micro finance beyond present involvements (NMI and Kolibri Kapital) 13
  14. 14. Geographic focus area • Norway • International if: – The concept is known by us (JA-YE Europe) – The social entrepreneur is Norwegian and/or is well known by us (Svein Wilhelmsen in Basecamp Explorer) – If we can scale a concept from Norway to other countries (”Enterprise Without Borders” – A UE Norge export article) 14
  15. 15. Ferd’s Social Entrepreneurs: Capital & Mandate • 8-12 running engagements in year 5 (2013) • Beyond year 5: – 1-3 new engagemens per year – exit from 1-3 engagements per year • Yearly investments of up to NOK 10 mill. over a 5 year periode (Including current engagements) • No engagement exceeding 20 % of total ”invested” capital 15
  16. 16. Ferd’s Social entrepreneurs (1) • Junior Achievement - Young Enterprise NOK 1 million/year – Contribution to EM, 10 year anniversary etc. NOK 2 mill. – Guarantee (EU’s contribution to JA-YE Europe) EUR 100,000/year – Responsible: JHA, Martine, Annar (Oslo), Bjørn, (Oppland) • ER–Bedrift - Lise Aasmundstad – Student company (UE program) for LAR pasients – Guaranteed running expenses for 3 years NOK 1 million/year – Responsible: JHA, Martine • Asfalt – Gatemagasinet i Rogaland NOK 500,000/year – Street magazine to be launched in April 2009 – Maggi Hatløy v/Kirkens Bymisjon Stavanger – Responsible: Kjetil Sævareid, Aibel 16
  17. 17. Ferd’s Social Entrepreneurs (2) • Forskerfabrikken - Hanne S. Finstad NOK 800,000/year – Courses and training in science (exercises and experiment) for students and teachers – 3 year funding (2009–2011) – Responsible: Ole Petter Trovaag, CTO, Elopak • Chandelao, India - Basecamp Explorer USD 90,000 – Artisan Workshop for women + school bus – Responsible: Kristin G. Andresen • NMI – Norwegian Microfinance Initiative NOK 75 mill. – NOK 600 mill fond (Global and Frontier) launched in 2008 – Partners: Norfund, Storebrand, Vital and KLP – Responsible: JHA 17
  18. 18. Social Entrepreneurs – some unanswered questions • ”Deal-flow”/supply of projects in Norway – Is it large enough and good enough? – Are there enough social entrepreneurs with business sense? – Will a sufficent number of social projects be scaleable? – Can international ideas be implemented in Norway? • ”Choice of Business and Reaction of Authorities” – If a lot of the social entrepreneurs choose services in the public domain as their focus, will the government contribute, take over or compete with the company when it shows viability and results? 18

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