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IMPACT MEETUP
Nordic Inspiration
21.11.2016 Helsinki Think Company
Schedule for the evening
● How is the impact ecosystem coming along?
○ Learnings from Impact Hub Stockholm
● Learnings from Swedish Coompanion
● Impact Insight
● Innovationscheck in Sweden, and now
Innovaatioseteli in Finland!
HOW IS THE IMPACT
ECOSYSTEM COMING
ALONG?
“3D INVESTING”
RETURN
IMPACT
RISK
In the ideal case, impact
correlates with increased
financial returns.
WHAT IS IMPACT
INVESTING?
1. Investing with the target of
having social or
environmental impact in
addition to a financial return
2. Setting targets for
a. social / env. impact
b. financial returns
3. Measuring how well set
targets are met
HOW MUCH IMPACT INVESTING IS HAPPENING GLOBALLY?
Looks at “158 of the world’s leading impact
investing organizations, including fund
managers, foundations, banks, development
finance institutions, family offices, pension
funds, and insurance companies” - uses
broad definition of impact investing
● Assets of $77 billion ($15 bn growth in
2015, $18 bn projected for 2016)
● Largest geographic sectors by assets
under mgmt: North America &
Sub-Saharan Africa
● Largest sectors housing, microfinance,
energy
● Largest asset class: Private debt
According to the GIIN Annual Impact Investor Survey 2016
IMPACT IS ALSO
PROFITABLE
According to the GIIN Annual
Impact Investor Survey 2016:
In impact funds under $100M
net IRR was 9,5 %, compared
with 4,5 % in traditional funds
of same size
IMPACT INVESTING GLOBALLY
GEN Y AS IMPACT INVESTORS
Millennials a.k.a. Generation Y will take over assets of $30 trillion in the next
decades: Whereas risk & return have been important investing criteria for past
generations, for millennials impact is an increasingly important criteria
POTENTIAL FOR IMPACT INVESTING IN FINLAND
● Public procurement 35 billion € - increased interest towards
outcomes-based procurement
● Sectors especially social & health, cleantech
● Lots of potential for impact enterprises growing out of non-profit sector &
startups
● Angel investments 37M € (2015) - around ¼ for well-being or
environmental sector
● Impact investments in Finland in 2015
○ Narrow definition: 1M €
○ Broad definition: some tens of millions of euros
Source: Männistö, Harri (2016): Vaikuttavuusinvestoimisen opas sijoittajille. Sitran selvityksiä 120
EXAMPLES OF
FINNISH IMPACT ENTERPRISES
SOCIAL IMPACT INVESTMENT: HOW DEMAND MEETS SUPPLY
Source: Impact Investment: The Invisible Heart of Markets (2014) Report of the Social Impact Investment Taskforce
SOCIAL IMPACT BONDS (SIB)
● Pay-for-success financing
● Public-private partnership, where public sector organization pays only for
impact outcomes agreed at start
○ low risk for public sector organization
○ External auditor audits impact
○ Investor gets financial return if impact targets are met
● around 100 SIBs being explored worldwide, pioneer Great Britain
● First Finnish SIB started in fall 2015 around workplace well-being
○ Capital from Me-säätiö (foundation), Sitra & one private investor
● Other Finnish SIBs coming up to address
○ Migrants’ integration and fast employment
○ Well-being of youth and children
○ Independent living of seniors
○ Furthering employment
HOW DO YOU STRUCTURE AN IMPACT ENTERPRISE?
● Usually beneficiary ≠
customer: this means that
the one who benefits is not
necessarily the one who
pays
● Being able to quantify your
impact means you are able
to build it into your business
model
EXAMPLES OF IMPACT BUSINESS MODELS
● Low-cost quality eye care to
eradicate blindness & grow
economic productivity
● “Pay according to your
abilities”: 2/3 of poorest
customers do not pay, the
affluent do
● “McDonald’s model”: highly
replicable & standardized
● Mobile learning service
www.funzi.mobi to enable
everyone to learn practical skills
to improve their lives for free
● Finding value in & commercia-
lizing learning outcomes
○ 3rd parties purchase
learning outcomes of a
certain target population
○ End users can purchase
certificates
IMPACT ECOSYSTEM IN FINLAND
PERSON &
IDEA
ADVANCED
IMPACT
ENTERPRISES
INV.READY
IMPACT
ENTERPRISES
EARLY-STAGE
IMPACT
ENTERPRISE
IMPACT ANGELS
FINNISH
FOUNDATIONS FINNISH
MUNICIPALITIES
ENTREPRENEURSHIP
SOCIETIES &
INNOVATION
COMPETITIONS ACCELERATORS
IMPACT FUNDS AND OTHER NEW INSTRUMENTS??
GOV’T ORG’S
IMPACT ACCELERATOR
& IMPACTOR
Impactor is organizing Sitra’s Impact
Accelerator in fall 2016 (hopefully
also in spring 2017)!
HYVÄN MITTA - “MEASURE FOR GOOD”
The project develops a toolbox for impact measurement
IMPACT HUB INCUBATION PROGRAMS
● Series of programmes for different stages (Aim: 5)
● Impact Hub Scaling: coordinated between 8 Impact
Hubs & helping entrepreneurs cross borders
○ “For one full year, up to 100 participating social
entrepreneurs will be immersed in the Impact Hub network
and acquire knowledge, skills and advice from top
mentors”
○ funded by among others JPMorgan
○ now building an even larger programme to start 2017
COOMPANION: support and networks for
cooperative businesses
IMPACT INSIGHT
IMPACT ECOSYSTEM IN FINLAND
PERSON &
IDEA
ADVANCED
IMPACT
ENTERPRISES
INV.READY
IMPACT
ENTERPRISES
EARLY-STAGE
IMPACT
ENTERPRISE
IMPACT ANGELS
FINNISH
FOUNDATIONS FINNISH
MUNICIPALITIES
ENTREPRENEURSHIP
SOCIETIES &
INNOVATION
COMPETITIONS ACCELERATORS
IMPACT FUNDS AND OTHER NEW INSTRUMENTS??
GOV’T ORG’S
Where are the Impact enterprises hiding?
● Who?
● What?
● Where’s the impact?
Impact Insight gathers the impact enterprises
Makes the impact visible
The investors are looking for impact enterprises!
● Impact investors
● Funds
● Purchasing, public
tendering
Take a look at
www.impactinsight.fi
Join the mailing list
Contact us
Keep posted!
Meanwhile in Sweden:
Innovationscheck!
And finally in Finland:
Innovaatioseteli!
How can you use
our innovation voucher?
Who can get the innovation voucher?
● Startups and micro enterprises
● Small and medium sized enterprises
● Limited liability companies (Oy)
● Cooperatives (Osk)
that have not received funding from Tekes previously.
Impactor can take only five new clients
in spring 2017.
What you get with the innovation voucher:
EXAMPLE OF A SET OF SOCIAL INNOVATION WORKSHOPS
I. Mapping the challenge,
previous solutions and
impact gaps
II. Modelling the desired
impact, assumptions and
scenarios
III. Drafting the product
offering: Value proposition,
impact and pricing
How to proceed?
FOR MORE INFORMATION
● Global Impact Investing Network: 2016 Annual Impact Investor
Survey
● Männistö, Harri ( 2016) Vaikuttavuusinvestoimisen opas sijoittajille.
Sitran selvityksiä 120 (in Finnish)
● Impact Investment: The Invisible Heart of Markets (2014) Report of
the Social Impact Investment Taskforce
● Toniic (2016) Millennials & Impact Investment
● Social Finance (about Social Impact Bonds)
Follow us
@ImpactorConsulting
@Impactor_fi
www.impactor.fi
kristiina.ullgren@impactor.fi
jenni.selosmaa@impactor.fi
saila.kokkonen@impactor.fi
Impact meetup 21.11.2016  Nordic Inspiration

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Impact meetup 21.11.2016 Nordic Inspiration

  • 2. Schedule for the evening ● How is the impact ecosystem coming along? ○ Learnings from Impact Hub Stockholm ● Learnings from Swedish Coompanion ● Impact Insight ● Innovationscheck in Sweden, and now Innovaatioseteli in Finland!
  • 3. HOW IS THE IMPACT ECOSYSTEM COMING ALONG?
  • 4. “3D INVESTING” RETURN IMPACT RISK In the ideal case, impact correlates with increased financial returns.
  • 5. WHAT IS IMPACT INVESTING? 1. Investing with the target of having social or environmental impact in addition to a financial return 2. Setting targets for a. social / env. impact b. financial returns 3. Measuring how well set targets are met
  • 6. HOW MUCH IMPACT INVESTING IS HAPPENING GLOBALLY? Looks at “158 of the world’s leading impact investing organizations, including fund managers, foundations, banks, development finance institutions, family offices, pension funds, and insurance companies” - uses broad definition of impact investing ● Assets of $77 billion ($15 bn growth in 2015, $18 bn projected for 2016) ● Largest geographic sectors by assets under mgmt: North America & Sub-Saharan Africa ● Largest sectors housing, microfinance, energy ● Largest asset class: Private debt According to the GIIN Annual Impact Investor Survey 2016
  • 7. IMPACT IS ALSO PROFITABLE According to the GIIN Annual Impact Investor Survey 2016: In impact funds under $100M net IRR was 9,5 %, compared with 4,5 % in traditional funds of same size
  • 9. GEN Y AS IMPACT INVESTORS Millennials a.k.a. Generation Y will take over assets of $30 trillion in the next decades: Whereas risk & return have been important investing criteria for past generations, for millennials impact is an increasingly important criteria
  • 10. POTENTIAL FOR IMPACT INVESTING IN FINLAND ● Public procurement 35 billion € - increased interest towards outcomes-based procurement ● Sectors especially social & health, cleantech ● Lots of potential for impact enterprises growing out of non-profit sector & startups ● Angel investments 37M € (2015) - around ¼ for well-being or environmental sector ● Impact investments in Finland in 2015 ○ Narrow definition: 1M € ○ Broad definition: some tens of millions of euros Source: Männistö, Harri (2016): Vaikuttavuusinvestoimisen opas sijoittajille. Sitran selvityksiä 120
  • 12.
  • 13. SOCIAL IMPACT INVESTMENT: HOW DEMAND MEETS SUPPLY Source: Impact Investment: The Invisible Heart of Markets (2014) Report of the Social Impact Investment Taskforce
  • 14. SOCIAL IMPACT BONDS (SIB) ● Pay-for-success financing ● Public-private partnership, where public sector organization pays only for impact outcomes agreed at start ○ low risk for public sector organization ○ External auditor audits impact ○ Investor gets financial return if impact targets are met ● around 100 SIBs being explored worldwide, pioneer Great Britain ● First Finnish SIB started in fall 2015 around workplace well-being ○ Capital from Me-säätiö (foundation), Sitra & one private investor ● Other Finnish SIBs coming up to address ○ Migrants’ integration and fast employment ○ Well-being of youth and children ○ Independent living of seniors ○ Furthering employment
  • 15. HOW DO YOU STRUCTURE AN IMPACT ENTERPRISE? ● Usually beneficiary ≠ customer: this means that the one who benefits is not necessarily the one who pays ● Being able to quantify your impact means you are able to build it into your business model
  • 16. EXAMPLES OF IMPACT BUSINESS MODELS ● Low-cost quality eye care to eradicate blindness & grow economic productivity ● “Pay according to your abilities”: 2/3 of poorest customers do not pay, the affluent do ● “McDonald’s model”: highly replicable & standardized ● Mobile learning service www.funzi.mobi to enable everyone to learn practical skills to improve their lives for free ● Finding value in & commercia- lizing learning outcomes ○ 3rd parties purchase learning outcomes of a certain target population ○ End users can purchase certificates
  • 17. IMPACT ECOSYSTEM IN FINLAND PERSON & IDEA ADVANCED IMPACT ENTERPRISES INV.READY IMPACT ENTERPRISES EARLY-STAGE IMPACT ENTERPRISE IMPACT ANGELS FINNISH FOUNDATIONS FINNISH MUNICIPALITIES ENTREPRENEURSHIP SOCIETIES & INNOVATION COMPETITIONS ACCELERATORS IMPACT FUNDS AND OTHER NEW INSTRUMENTS?? GOV’T ORG’S
  • 18. IMPACT ACCELERATOR & IMPACTOR Impactor is organizing Sitra’s Impact Accelerator in fall 2016 (hopefully also in spring 2017)!
  • 19. HYVÄN MITTA - “MEASURE FOR GOOD” The project develops a toolbox for impact measurement
  • 20.
  • 21. IMPACT HUB INCUBATION PROGRAMS ● Series of programmes for different stages (Aim: 5) ● Impact Hub Scaling: coordinated between 8 Impact Hubs & helping entrepreneurs cross borders ○ “For one full year, up to 100 participating social entrepreneurs will be immersed in the Impact Hub network and acquire knowledge, skills and advice from top mentors” ○ funded by among others JPMorgan ○ now building an even larger programme to start 2017
  • 22. COOMPANION: support and networks for cooperative businesses
  • 24. IMPACT ECOSYSTEM IN FINLAND PERSON & IDEA ADVANCED IMPACT ENTERPRISES INV.READY IMPACT ENTERPRISES EARLY-STAGE IMPACT ENTERPRISE IMPACT ANGELS FINNISH FOUNDATIONS FINNISH MUNICIPALITIES ENTREPRENEURSHIP SOCIETIES & INNOVATION COMPETITIONS ACCELERATORS IMPACT FUNDS AND OTHER NEW INSTRUMENTS?? GOV’T ORG’S
  • 25. Where are the Impact enterprises hiding? ● Who? ● What? ● Where’s the impact?
  • 26. Impact Insight gathers the impact enterprises
  • 27. Makes the impact visible
  • 28. The investors are looking for impact enterprises! ● Impact investors ● Funds ● Purchasing, public tendering
  • 29. Take a look at www.impactinsight.fi Join the mailing list Contact us Keep posted!
  • 31. And finally in Finland: Innovaatioseteli!
  • 32. How can you use our innovation voucher?
  • 33. Who can get the innovation voucher? ● Startups and micro enterprises ● Small and medium sized enterprises ● Limited liability companies (Oy) ● Cooperatives (Osk) that have not received funding from Tekes previously. Impactor can take only five new clients in spring 2017.
  • 34. What you get with the innovation voucher: EXAMPLE OF A SET OF SOCIAL INNOVATION WORKSHOPS I. Mapping the challenge, previous solutions and impact gaps II. Modelling the desired impact, assumptions and scenarios III. Drafting the product offering: Value proposition, impact and pricing
  • 36. FOR MORE INFORMATION ● Global Impact Investing Network: 2016 Annual Impact Investor Survey ● Männistö, Harri ( 2016) Vaikuttavuusinvestoimisen opas sijoittajille. Sitran selvityksiä 120 (in Finnish) ● Impact Investment: The Invisible Heart of Markets (2014) Report of the Social Impact Investment Taskforce ● Toniic (2016) Millennials & Impact Investment ● Social Finance (about Social Impact Bonds)