A venture capitalist would only need money to make a great business and take the company ahead but an impact venture investor will have to find investment that not only helps a business to grow but is also changing the economical portrait of a society.
This is what exactly Mr. Kartik Desai addressed the students of Pearl Academy, Delhi (West campus) on October 13’ 2013. He is a Principal at Asha Impact and talks brightly about venture philanthropy. He shared his ideas with students about an ideal business model that is to make profits while providing socially workable ecosystem. In his vision students have the best creative minds. And that was the sole reason of his visit to this institution.
He also addressed about the beneficial returns from social impact investments. The returns are around 20-25%. It is much more than any other investment. He believes that it is high time that people start to invest in welfare of the society that can help the craft and hand-loom industry. This will also help the local artisans from getting exploited by the government.
According to him, Fashion and Textile have the major sector in social entrepreneurship. The problem lies in the unawareness of such profitable business. Through his 45 minutes of session he educated the students about the advantages one can drive from such business plans. Business in social impact investment would not only be more socially and commercially viable but also highlight us as a better person.
He believes that any good in society would come from self-motivation to make the society workable for all individuals. Similarly, for a student it is necessary to have the perfect knowledge, enthusiasm and the right spirit for their entrepreneurial growth leading to growth for the economy.
Mr. Desai and his colleague, Ms. Alpana Srivastava presented a case study to the students on Fab India. They highlighted how the brand is giving business to 40,000 to 80,000 craft persons. Also how this enhances B2B opportunities. They invited students to go through their new venture philanthropy on GOCOOP that is helping artisans in providing business through online facilities.
On being asked by a student during his session, on how impact can be measured in an impact venture, he said “We have the right tools for every category that Asha Impact deals in to map Impact churning from a business and it varies from category to category”.
He emphasized that “Pearl Academy being the hub of fashion has the greatest talent for such businesses and I expect a lot of capabilities from Pearl Academy”. He also said that he sees Pearl Academy as a perfect mix of both creativity in fashion and innovation in business.