Funding for Lean Impact

Christie George @christiegeorge from NEW MEDIA VENTURES (supports for profit and non-profits).

The idea of applying lean ideas to change the world through social impact.

If you can do better you should! When the media only reflects a small subset of the population then we only come up with solutions with that subset.

There is a huge opportunity to apply lean startup principles to do good. It’s already happening …
- Upworthy
- Kiva

I think we need to be honest about the challenges around applying lean to the social sector.
- When you fail in the social sector you fail real people
- social change takes a long time.
-Identifying the customers is difficult (the person paying for change is not the person that it benefits). We need to find ways to incentivize risk:
- rapidly deploy seed funding (light weight funding model eg awesome foundation)
- create a culture were the trutsh is incentivized
- share information obsessively. (Knight Foundation civic funding graph)
- Complement crowdfunding (matching grants)

Most impact funding is low-risk. Imagine if we could grow risk funding and try and solve hunger, equality, climate change.

What if we could convince 10 foundations to put $1M into their own “risk” funds. We’d be talking about a socially different paradigm for social change.

Incentivise the truth for a better society!

Slides below:

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