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corporate social responsible
Envisioning a larger societal purpose has always been the hallmark of your Company. Indeed, this 'commitment beyond the market' is a compelling Vision that motivates us to enlarge our contribution to the Indian Society, even as we attain new milestones of excellence in sustainable wealth creation. It is for this reason that we measure our accomplishments not only in terms of financial performance but also by the transformation we have consciously engendered to augment the natural and social capital of the nation.
Helios and Matheson partners ISB
A global initiative to foster social entrepreneurship
Helios and Matheson has entered into an exclusive partnership with the Indian School of Business (ISB) to promote the “Global Social Venture Competition (GSVC)”
Announcing the partnership with Helios and Matheson and Asia Semifinals which was held in India, Ajit Rangnekar, Deputy Dean, ISB said, “We are excited to partner with Helios and Matheson as we share the same ideology, which is to create a lasting change in society in a viable and sustainable manner.”
GSVC is one of the most high profile competitions in the world for scripting innovative Business plans and setting up Social Ventures that have clear and quantifiable social objectives and are financially sustainable.
In the 2007 GSVC, a total of 118 business plans were sent in from 26 schools in 7 Asian countries for the Preliminary Evaluation Round. Part of the entry requirement was that the business plans include a “Social Return on Investment” (SROI) analysis, which requires the teams to think through how their social impact could be quantified. A separate prize that was awarded to the most innovative SROI analysis.
Teams “Doctor Seed” from China and “Verdacure” from Thailand were announced as the winners of the Asian Semifinal Presentation Round of the Global Social Venture Competition 2007 (GSVC). The winning presentations competed with entries from other continents in the finals held in Haas, Berkeley, USA in April 2007.
The plan submitted by the Thai team (Verdacure) envisaged a herbal remedy for periodontal disease. Verdacure's business model captures profits from selling its medicine through dental care providers in Thailand to pay for affordable mobile dental education and treatment services for rural villagers.
Team “Verdacure” from Thailand went on to bag the first runners up in the finals held at Haas, Berkeley, USA in April 2007.
The award for the most innovative “Social Return on Investment” (SROI) analysis was given to the team from Singapore “Sarvodaya” for its proposal of facilitating cultivation of Aloe Vera in marginalized lands through self-help groups and NGOs, setting up processing facilities, thereby ensuring viability of model and increased income for marginalized farmers.
History of GSVC
The Global Social Venture Competition began in 1999 as a student-led initiative at the Haas School of Business in California, USA. In May 2001, Columbia Business School and The Goldman Sachs Foundation partnered with Haas to extend the reach of the competition and help grow a national platform for social ventures.
In June 2003, the London Business School joined the competition partnership to extend the competition globally. In July 2005, the Indian School of Business was invited as an affiliate. In March 2006, the Asia Semi-final round was held at the Indian School of Business with an exclusive partnership with Helios and Matheson..
This unprecedented partnership between Helios and Matheson and ISB brings together the academic and financial worlds to support the creation of sustainable social ventures.
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