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Home / India News / 2007 / March / March 9, 2007
ISB Hosts Asia Semi Final of the Global Social Venture Competition

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ISB Hosts Asia Semi Final of the Global Social Venture Competition

Hyderabad, Andhra Pradesh, India

The Asia Semi-Final of the Global Social Venture Competition (GSVC) is being organized by the Indian School of Business (ISB), Hyderabad, on March 9 & 10, 2007. The competition has attracted over 200 social business plans from the Asia - Pacific region. The short listed plans come from countries such as China, Taipei, Singapore, Dubai and Thailand and India. The top three teams from the Asia semi-final will participate in the global finals to be held at Haas Business School in April 2007.

Mr Mani Shankar Aiyar, Union Minister of Panchayati Raj, Youth Affairs& Sports and Development of North Eastern Region was the Key Note Speaker. Since he was not able to come; his speech was delivered through a video recording. A Panel Discussion on 'Business Strategies for Inclusive Growth' was also held as a part of this event. Meenakshi Datta Ghosh, Secretary, Ministry of Panchayati Raj, GoI and V Ramchandiran, Chairman, Helios & Matheson spoke during the Inaugural Session.

Talking about the ISB's role as a mentor, Dr V Chandrasekar, Executive Director, Wadhwani Centre for Entrepreneurial Development said, "The ISB has been a full-fledged mentor to all competing teams, both from India and other Asian countries. Over the last two years, we have seen a significant improvement in the number and quality of social projects presented at the competition.

Many of the teams mentored by us in the last two years have won various types of resource support and are currently being implemented to make a difference in the world outside. This indicates that we have been fairly successful in sensitizing students to look at social ventures with a business perspective,"

The purpose of the GSVC is to actively support and promote the creation and growth of successful social ventures around the world. It strives to elevate the visibility for the field along with the quality and quantity of new ventures. Each year, GSVC rewards a number of social ventures that are most likely to succeed in accomplishing their financial and social missions. GSVC also works to educate and increase the pool of leaders who can start and grow social ventures.

This year's short listed plans have a very interesting mix of social plans such as ventures for renewable energy-based community kitchens; enhancing plant and vegetable seed growth using a patented technology; improvement of socio-economic status of artisans; increasing awareness and empowering rural communities etc. The panel of judges comprises representatives from several eminent venture capital funds and faculty drawn from the partner B-Schools.

This competition offers an excellent opportunity for managers, investors and executives to acquaint themselves with highly promising social venture ideas and meet some of the most talented and creative social entrepreneurs of the future. The plans are evaluated based on the following criteria:

-- Criticality of the problem

-- Uniqueness / attractiveness of the solution proposed

-- Feasibility of implementation of the solution

-- Profitability of operations

-- Social benefits for the target segment(s)

-- Social indicators identified and their relevance

-- Social return on investment

The GSVC began in 1999 and is a student-led initiative pioneered by the Haas School of Business, Columbia Business School, and the London Business School. The Indian School of Business (ISB) is a full partner - with responsibility of promoting the competition in business schools in Asia, mentoring the teams, and holding the Asia semi-final round. The Chennai-based, Helios & Matheson is this year's corporate partner.

About the ISB

The Indian School of Business is a research-oriented independent management institution that grooms future leaders for India and the world. Its association with the Kellogg School of Management, The Wharton School, and London Business School make it one of its kind in Asia. The School offers a one-year Post Graduate Programme; short-duration, high-powered Executive Education programmes for CEOs and senior executives; and a two-year Research Fellowship Programme. The origins and distinctive research of our faculty members ensure that our programme content is contemporary and global in its perspective, and develops our students' understanding of modern management opportunities and challenges.

Bhuvana Ramalingam , Director- Communications, Indian School of Business, +91 9394568016 bhuvana_r@isb.edu

Vipul Bondal, Comma Consulting, +91 99203 84555 vbondal@comma.in

Source: Indian School of Business (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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