Venture Philanthropy Research Articles

Quand optimiser désenchante. Les effets de la venture philanthropy sur l’engagement des volontaires en service civique

L’actuel modèle des politiques de l’éducation prioritaire se traduit par une individualisation de la prise en charge des élèves à travers une démultiplication de dispositifs. Cette externalisation est souvent gérée par le secteur associatif. Ce dernier, de plus en plus confronté à l’injonction de mobiliser des logiques entrepreneuriales, applique des réorganisations susceptibles d’aller à l’encontre de ses objectifs premiers. À travers l’étude de cas d’une association complémentaire de l’enseignement public, cet article se donne pour objectif d’analyser les effets de la venture philanthropy sur un dispositif de l’égalité des chances à travers le travail des volontaires en service civique au sein de ce programme. Face à la volonté d’optimiser le dispositif, la transformation des missions des volontaires au sein de cette structure nous donnera à voir la continuité de la gestion néolibérale par dispositif et les effets sur les pratiques « d’engagement » dans le secteur associatif.

Venture philanthropy in public schools in Australia: tracing policy mobility and policy networks

ABSTRACT The paper studies the emergence of venture philanthropy in public schools in Australia, focusing on policy networks and policy mobility. It seeks to analyse how policy is mobilised and leveraged via networks, focusing on the initiative of a national education charity with deductible gift recipient status, and a national research education institute. By drawing on network ethnography, and following people, things, and money, the paper studies the restructuring of traditional government and its relationship to, and with, policy networks. Policy networks, as shown in this paper, are highly diverse in shape and form, consisting of powerful human actors, but also influential non-human actors that take on lateral scope including government reports, policy documents, and parliamentary legislation. The restructuring of the state apparatus is not a hollowing out of the state, but rather the state performs a central node within a policy network, challenging the notion that non-state actors supersede the role of the state. Policy networks represent highly valuable commodities and tend to be characterised by their reproductive values. These networks are tangibly reshaping the way money and commodities are circulated, offering a transactional currency and commodity within a marketplace, and reaching into public schools.

Research-Based Product Innovation to Address Critical Unmet Needs of Patients with Inflammatory Bowel Diseases.

Despite progress in recent decades, patients with inflammatory bowel diseases face many critical unmet needs, demonstrating the limitations of available treatment options. Addressing these unmet needs will require interventions targeting multiple aspects of inflammatory bowel disease pathology, including disease drivers that are not targeted by available therapies. The vast majority of late-stage investigational therapies also focus primarily on a narrow range of fundamental mechanisms. Thus, there is a pressing need to advance to clinical stage differentiated investigational therapies directly targeting a broader range of key mechanistic drivers of inflammatory bowel diseases. In addition, innovations are critically needed to enable treatments to be tailored to the specific underlying abnormal biological pathways of patients; interventions with improved safety profiles; biomarkers to develop prognostic, predictive, and monitoring tests; novel devices for nonpharmacological approaches such as minimally invasive monitoring; and digital health technologies. To address these needs, the Crohn’s & Colitis Foundation launched IBD Ventures, a venture philanthropy–funding mechanism, and IBD Innovate®, an innovative, product-focused scientific conference. This special IBD Innovate® supplement is a collection of articles reflecting the diverse and exciting research and development that is currently ongoing in the inflammatory bowel disease field to deliver innovative and differentiated products addressing critical unmet needs of patients. Here, we highlight the pipeline of new product opportunities currently advancing at the preclinical and early clinical development stages. We categorize and describe novel and differentiated potential product opportunities based on their potential to address the following critical unmet patient needs: (1) biomarkers for prognosis of disease course and prediction/monitoring of treatment response; (2) restoration of eubiosis; (3) restoration of barrier function and mucosal healing; (4) more effective and safer anti-inflammatories; (5) neuromodulatory and behavioral therapies; (6) management of disease complications; and (7) targeted drug delivery.

Promises Granted: Venture Philanthropy and Tech Ideology in Metajournalistic Discourse

ABSTRACT The past half-decade has seen the rise of venture philanthropy in the journalism industry, a kind of charitable giving often driven by tech industry actors Google and Facebook working through intermediary institutions such as the Knight Foundation and the American Journalism Project. As an ideological project, this intervention symbolizes both a significant economic and cultural investment. This paper interrogates how venture philanthropists and their investments have been made sense of via metajournalistic discourse. Through a critical discourse analysis of reporting and commentary about venture philanthropy, we find that professional discussions are often notably insular, framing journalism’s public values in market-centric terms and establishing funders as transformative figures intervening in a journalistic culture ill-prepared to adapt to the needs of the market. The analysis shows how venture philanthropy works as a site of tech industry influence and ideology in the field of journalism, primarily by demonstrating how the discourse construes publicly focused journalism as existing in part thanks to the largesse and beneficence of the tech companies who structure and extract value from the digital public sphere.

Design Philanthropy: Challenges and Opportunities in the Evolution of Philanthropic Giving

Over the past several decades large philanthropies have adopted aggressive approaches to education reform that scholars have labeled venture philanthropy. These efforts focused on broad changes to schooling and education policy, borrowing techniques from the venture capital world. But many foundations have recently become convinced that market forces and macro-level policymaking alone cannot drive educational improvement, particularly in areas related to classroom teaching and learning. In response, foundations have begun to design their own instructional innovations and identify providers to implement them. This paper interprets these recent efforts as early evidence of a distinct adaptation in the evolving role of philanthropies, which we dub design philanthropy. Although this approach represents an attempt by foundations to simultaneously increase democratic engagement, directly influence the instructional core, and spur educational innovation, it poses new risks for coherence, scalability, and sustainability in education policymaking.

Impact Assessment in Not-for-Profit Organizations: The Case of a Foundation for the Development of the Territory

The paper describes the impact assessment method of new projects and investments in a foundation for the development of the territory based on a venture philanthropy approach. It compares the method identified with the main procedures included in the scientific literature. The paper highlights a qualitative case study carried out through three steps: (a) case study selection, (b) data collection, and (c) data analysis. Data were analyzed by three techniques: understanding the context, within-case study, and cross-case study. The result identifies an impact assessment method of new projects and investments used by a foundation for the development of the territory. It highlights a qualitative impact assessment method used for internal reporting purposes. This method is based on an ex-post evaluation with high feasibility, which allows for significant time saving. However, it does not allow for an in-depth cost analysis and presents low credibility. This assessment method can be used to justify contributions to projects and investments.

Institutional Complexity and The Role of Entrepreneurial Orientation in Structuring Nonprofit Hybrid

Although the institutional logic perspective forms a main theoretical lens to analyze nonprofits that undertake hybrid activities—those often labeled entrepreneurial nonprofits—, the extant literature has not fully answered whether “being entrepreneurial” affects the way nonprofits respond to mission-market tensions created by logic incompatibility. This study sheds light on the role of entrepreneurial orientation (EO) in shaping nonprofit experience with social-welfare and commercial logics. Analyses of four venture philanthropy organizations reveal that nonprofits with different levels of EO interpret the two logics differently (logics to be complementing, contesting, coexisting, isolating), thereby taking different hybrid models. This study proposes a new framework integrating the dimensions of EO and institutional complexity into four hybrid models (blended, blocked, assimilated, segmented/segregated) to extend existing nonprofit hybridity frameworks.

A Gendered View of Risk Taking in Venture Philanthropy

Relying on gender-role congruity theory, this paper investigates the relationship between the gender of the top management teams of venture philanthropy firms and their business risk-taking orientation. The research also assesses if and how experience moderates this relationship. Using a combination of survey data to capture the venture philanthropy firm’s risk orientation and biographical data to identify managers’ gender and experience, it finds that only gender affects business risk-orientation in these firms. Surprisingly, this is the opposite direction than expected, whereby teams with a higher proportion of women have a higher risk-taking profile. This suggests the need to revise the applicability of gender role congruity theory, the existence of a gender-bind dilemma, and the relevance of context in venture philanthropy.

Development of Venture Philanthropy in Ukraine in the Context of Strengthening of the Social Responsibility of Civil Society Organizations

The main aim of the article is to highlight the venture philanthropy in the context of strengthening the social responsibility of non-governmental organizations in countries that are at the initial stage of developing a culture of charity. Design/methodology/approach. In fulfilling the purpose of the study a set of general and special research methods were used (methods of analogy and comparison, induction and deduction, scientific abstraction (to clarify the conceptual apparatus of the problem under study, and to justify the benefits of venture philanthropy compared to the traditional approach to charity); logical generalization and systematization (to justify the use of crowdfunding approach for projects that have not passed the initial competitive selection in the social purpose organization), etc.). Research results. The article discusses the national Ukrainian features of the social responsibility of non-governmental organizations. It also highlights some existing approaches to the interpretation of the content of venture philanthropy and substantiates its main differences from the traditional approach to charity. The author explains that criticism of venture philanthropy is mainly caused by the lack of understanding of its content and the possibility of applying venture approaches in charity. The author also substantiates the importance of applying a venture approach to charity as one that helps to solve the root causes of existing problems in society. Given the initial stage of development of venture philanthropy in Ukraine, the author proposes to introduce it in combination with a crowdfunding approach. Such a mechanism will contribute not only to the faster introduction of venture philanthropy into domestic charity practice, but also to a significant increase in the social responsibility of NGOs and citizens involved in the processes. The elements of scientific novelty. The article substantiates the feasibility of using a venture approach to charity in comparison with the traditional approach. For the first time in Ukrainian practice, the peculiarities of the formation of venture philanthropy in Ukraine from a scientific point of view are studied and it is proposed to use its flexibility to improve the charity process and the development of philanthropy culture in Ukraine. This can be achieved through a combination of venture and crowdfunding approaches to charity. Practical significance. The main results of the study can be used as the basis for further scientific research devoted to the problems of the activities of NGOs, and will also be useful for decision-making process for development of the civil society policy in Ukraine creation.

A New Approach to Social Entrepreneurship: A Systematic Review and Meta-Analysis

All social entrepreneurship experts state that the issue of definition is the main problem affecting research in this field. Although there is no single definition, this is clearly a new domain in the field of research on entrepreneurship. The main objective of this study is to further knowledge in this area by means of a systematic review of scientific literature to determine the conceptual development of social entrepreneurship and to identify the most interesting research trends. This study uses a research method, known as latent semantic analysis (LSA), which has been applied to a database of keywords collected from a rigorous selection of academic articles. The results show that this phenomenon has emerged from two parallel currents within the organization management field; on the one hand, the non-governmental organization (NGO) and voluntary tradition and, on the other, the world of business ethics and corporate social responsibility (CSR). The main lines of future research highlighted in the analysis include the measurement of social impact, venture philanthropy, and hybrid organizations.

Measuring the Worth of Social Good: Valuation in an Emergent Non-profit Social Enterprise

Non-profit social enterprises address social problems with business models. This paper examines the founding years of an early non-profit social enterprise in the United States to highlight the role venture capital and venture philanthropy played in shaping performance measures. While venture philanthropies funded the creation of blended value models of performance measures, other practices from venture capital, such as taking board seats and engaging in managerial oversight, were quietly playing a profound role in the financialization of performance measurement in non-profit social enterprise. The early influence of venture capital valorised quantitative performance measures, the objectivity, calculability, and commensurability of which made them attractive to key stakeholders. More recent work in performance measurement have sought to incorporate a wider range of stakeholders. However, this paper explains the legacy of venture capital in financializing performance measures with which social enterprises continue to grapple.

Risk-taking in Impact Investing: The Role of Gender and Experience

Relying on gender role congruity theory, this paper investigates the relationship between the gender of the top management team of venture philanthropy (VP) firms and their risk-taking orientation. Our research also assesses if and how experience moderates this relationship. Using a combination of survey data to capture the VP firm’s risk orientation, and biographical data to identify managers’ gender and experience, we find that only gender affects the risk-taking orientation in these firms. Yet, this is in an opposite direction than what theorized, whereby teams with a higher proportion of women have a higher risk-taking profile. This suggests the existence of a gender bind dilemma in VP.

LEGAL BASIS OF FUNDRAISING DEVELOPMENT IN UKRAINE

The article is devoted to the legal framework for the functioning and development of fundraising in Ukraine as a professional activity in the field of mobilization of various resources. The historical aspects of the formation of fundraising in the domestic space have been studied. It is pointed out that state support is insufficient for the preservation and development of the national cultural and social heritage. Attracting extra-budgetary sources of funding, including from charitable and philanthropic activities, increasingly active cooperation with financial, industrial and trade capital, social movements and organizations – one of the necessary conditions for the existence of socio-cultural sphere. Experience of fundraising activities in European countries is necessary for research and its implementation in the future in Ukraine. Fundraising activities are specific and complex in structure, but involving donors in the future, to cooperate with them on a regular basis will increase economic, social resources, human potential, which will prevent crises in modern society. Attracting financial resources from additional sources of funding, in particular, through fundraising technology is necessary in today’s socio-economic conditions in Ukraine. The legal acts concerning fundraising activities are analyzed and attention is paid to separate legal norms concerning material assistance. The authors focused on the following: the Constitution of Ukraine, the Laws of Ukraine “About Public Associations”, “About Charitable Activities and Charitable Organizations”, “About Volunteering”, “About Humanitarian Aid”, the Tax Code, and the Commercial Code. An assessment of the current state of this type of activity is given and some prospects for further explorations are proposed, namely the study of venture philanthropy.

Quantifying the Impact of Impact Investing

We propose a quantitative framework for assessing the financial impact of any form of impact investing, including socially responsible investing (SRI), environmental, social, and governance (ESG) objectives, and other non-financial investment criteria. We derive conditions under which impact investing detracts from, improves on, or is neutral to the performance of traditional mean-variance optimal portfolios, which depends on whether the correlations between the impact factor and unobserved excess returns are negative, positive, or zero, respectively. Using Treynor-Black portfolios to maximize the risk-adjusted returns of impact portfolios, we propose a quantitative measure for the financial reward, or cost, of impact investing compared to passive index benchmarks. We illustrate our approach with applications to biotech venture philanthropy, divesting from “sin” stocks, investing in ESG, and “meme” stock rallies such as GameStop in 2021.

How precision medicine paved the way to the first cystic fibrosis drug

Heartbreak, sacrifice, genetics and venture philanthropy — this book has it all. Heartbreak, sacrifice, genetics and venture philanthropy — this book has it all.

Investigating Effective Criteria of Evaluation for Investment in Social Entrepreneurship

Social entrepreneurship is one of the branches of entrepreneurship that seeks to reduce or solve community problems innovatively using business methods. This type of entrepreneurship differs from traditional entrepreneurship because of the dual nature and mission, and investors in these plans need different criteria with conventional evaluation criteria to evaluate an effective option. For this purpose, the purpose of this study is to determine the effective social criteria in evaluating social entrepreneurship for investment according to research conducted on social entrepreneurship and types of social investors (social venture capital, philanthropic venture capital and impact investment). The present study propose four criteria of investment feature in terms of social criteria, entrepreneurship feature in terms of social criteria, combined expected return and combined expected risk as the main criteria of evaluating social entrepreneurship for impact investment using the content analysis method.

Risk Taking in Venture Philanthropy: The Influence of Human Capital and Gender

Relying on human capital and gender role congruity theory, this paper seeks to identify the extent to which the top management team’s human capital affects the risk-taking orientation of impact-focused investors. We then look at how gender moderates this relationship. We empirically ground our analysis in the context of venture philanthropy (VP) firms, a subset of the broader impact investing sector which is more hands-on and focused on funding social ventures. Relying on a combination of survey data to measure the VP firm’s risk orientation, and biographical data to identify top managers’ human capital, we find that neither commercial nor social human capital alone affect the risk orientation of VP investors. However, results show that gender, independently of the human capital, positively affects risk-taking when top managers are women. In the case of men, human capital plays a role. Contrary to expectations, teams with more men who have higher human capital garnered in a commercial endeavor have a lower risk-taking orientation while those with more human capital garnered in the social sector increases take higher risks. This suggests the existence of a gender bind dilemma in the social investment sector both for men and for women.

The Consequences of Creating Markets to Address Social Problems

The use of venture philanthropy to address social problems has become an increasingly popular model of international development. This study examines the efforts and consequences of venture philanthropists that are working to promote the adoption of products that address complex problems. Through an inductive study consisting of qualitative archival data, interviews, and field observations, I document the emergence of an emerging market in East Africa and present evidence of how actors (entrepreneurs, intermediaries, and national governments) are affected by the institutional model of venture philanthropists. I then comment on how this has altered – or stifled – the trajectory of the emerging market.

Delineating social finance

This paper reviews social finance. Venture philanthropy, microfinance, crowdfunding and social impact bonds are financial and social innovations that reshape capital markets, the production of public goods, entrepreneurship and the fundamental principles of financial analysis. In this context, the pursuit of social and environmental impact is assessed alongside the tradeoff between risk and expected return. The market for impact investments consists of suppliers of capital, recipients of capital, the institutional framework and financing flows. This paper describes the financial market for the pursuit of impact and highlights principal challenges, such as the small scale and long horizon of social ventures, the lack of standardized reporting and financial measures for social outcomes, as well as the elusive causality between impact investments and social change.

THE IMPLEMENTATION OF PROVISION CORPORATE SOCIAL RESPONSIBILITY (CSR) TO COMMUNITY SOCIAL LIFE BY PT. BANK TABUNGAN NEGARA OF DENPASAR BRANCH OFFICE

Basically, by implementing CSR there are many benefits that will be received. One of them is if the company finds other potential in the area where the company is developing its production, the community and the government will support more quickly the existence of the company, because the image that the company has built has been good with the implementation of CSR programs and the most important is the impact felt by the community from the program The company's CSR is very positive. Based on the background above, the main problem is 1) How is the implementation of provision Corporate Social Responsibility (CSR) to the community social life by PT Bank Tabungan Negara of Denpasar Branch Office. 2) What factors are inhibitors of the implementation of Corporate Social Responsibility (CSR) by PT. Bank Tabungan Negara of Denpasar Branch Office?. The methodology used in the preparation of this scientific work is 1) The type of research is to use the type of empirical research (law in action); 2) The nature of the research is descriptive; 3) Data and data sources, namely primary data as main data and secondary data in the form of legal material is used as support data; 4) Data collection techniques are carried out with the technique of collecting document studies, interviews (interviews), observations / observations in the context of research the application of the provision of Corporate Social Responsibility (CSR) to the community social life by PT. Bank Tabungan Negara in Denpasar Branch Office; and 5) Data processing and analysis, after the legal data that has been collected is processed and analysed qualitatively and quantitatively, the analysis results are presented in descriptive analysis. Based on the description above, it can be concluded that the application of the provision of Corporate Social Responsibility (CSR) to the community social life by PT. Bank Tabungan Negara in Denpasar Branch Office is mandatory to carry out, in accordance with the mandate of Article 74 of Law No.40 of 2007 concerning Limited Liability Companies and Government Regulation Number 47 of 2012 concerning Social and Environmental Responsibility of Limited Liability Companies. PT. Bank Tabungan Negara is a limited liability company that the business is engaged in banking. There are 2 (two) methods for treating CSR in PT. Bank Tabungan Negara in Denpasar branch office, namely: the first method of Cause Branding, is the Top Down approach. The company determines what social and environmental issues must be addressed, and the second method of Venture Philanthropy, is the Bottom Up approach. The company helps various non-profit parties in the community in accordance with the needs and desires of the community. Inhibiting Factors of PT. Bank Tabungan Negara in applying Corporate Social Responsibility (CSR), which can be seen from 2 factors, namely Internal inhibiting factors and external inhibiting factors