Strategic plan for social endowment program, to encourage income diversity, wealth accumulation, entrepreneurism, and economic opportunity for all. The plan was prepared in collaboration with the Social Entrepreneurship Consortium Inc (“SECI”).
The strategic planning process and related ideation and resulted in the creation of the “Social Entrepreneurship Endowment & Development Fund (SEED).” The SEED program seeks to encourage diversity in income and wealth accumulation, to foster entrepreneurism, and to promulgate vital economic prospects for children everywhere.
The SEED program employ a powerful economic approach to investing, that prioritizes vital social constituencies as stakeholders, more directly than through traditional philanthropy, what is referred to as a “philanthropy first” approach. “Philanthropy First” investing says simply, make the social commitment by including community stakeholders at the outset of investing, so that the positive results of a successful enterprises are not discretionary with primary social benefit being at an end state (the retirement or passing of the enterprise’s founder) as is the case now. Why not instead make the social commitment part of the operating scheme of the enterprise? This sensibility is a critical factor in this strategic plan for social endowment program.
SECI envisions that more diversified wealth creation, if achieved, can improve a sense of personal, family, and community wellness, as well as reducing social disruptions now flaring in democracies. And perhaps play a role in vitalizing capitalism at a critical time in world history. The SEED Program is inspired by the “Giving Pledge” initiative created by Warren Buffett and Bill and Melinda Gates, where high net worth individuals pledge more than half of their wealth to charitable causes either during their lives or in their wills. However, the SEED Program takes a different approach, where constituent shareholders have a stake in an entrepreneurial for-profit enterprise at its outset creating a shared outlook for a community’s future. Whereas the “Giving Pledge” is a private decision to distribute wealth after its accumulation. The Seed Program seeks to build shared values and a new mindset, a new form of charitable donation.
The strategic plan for social endowment program included a detailed action plan for jump starting participation among strategic partners and interested communities. Part of the plan also addressed select strategic marketing considerations in connection with the program launch, initially focused on leading family offices around the world where ESG Investing is finding a constituency.
SECI is headquartered in Toronto with affiliates and partners globally. SECI brings an innovative model of social entrepreneurship that is unique in design and comprehensive in coverage of the global social entrepreneurship sector.