|In this course, groups of students will develop an idea for an innovative, startup social organization. They will conduct research to create a detailed plan for its creation and growth and pitch the plan to faculty, social entrepreneurs, domain experts, foundation officers, and philanthropists.
The definition that we will use to determine if an idea belongs in the course is that social organizations are designed, managed and governed to sacrifice profit for mission in a substantial way or to seek funding from investors who are willing to sacrifice returns for mission. Compared to traditional for-profit organizations, such organizations rely in varying degrees on different funding institutions, different governance mechanisms, different ways to measure performance, different marketing, and different HR practices. These organizations may be structured as for-profit or non-profits. Because of these differences in management and the institutional structure supporting them, a distinct curriculum is appropriate, even if the definition excludes many organizations that create substantial social value.
The class will include multiple rounds of pitch presentations with detailed feedback, much like the New Venture Challenge. It will also include case studies, lectures, and readings about social organizations and related institutions. Topics will include; evaluating a new social enterprise, financing a social startup, managing a social organization, managing and financing growth, measuring performance and social impact, and governance.
We anticipate incorporating substantial prize money for the best plans. In 2011, we rewarded a total of $25,000 to the top three ventures.
Enrollment will be by application and permission of the instructor with preferences given to teams of students who submit a preliminary plan for their project. A limited number of places will be available for non-Booth students.