Babson Receives $10.8M To Launch Social Entrepreneurship Institute

The Boston Globed reported that Babson College received a whopping $10.8 million gift from the Lewis Charitable Foundation to establish an institute to support teaching, research, and outreach in social entrepreneurship.The Lewis Institute at Babson College will aim to develop strong leadership in the increasingly popular area of entrepreneurship.

Education is an important element needed to further develop the critical path for social entrepreneurship. Dedicated research and a deep understanding of the widespread issues such as education, healthcare, transportation and communications infrastructure, sustainability, energy and environmental protection, which are primarily responsible for variance in societal value, is paramount. Not to mention, the very nature of the institute should centralize talent and bolster collective intelligence.

Another major plus is the intent to set up a seed fund to plow money into the industry. Here are some more of the details:

Entrepreneurship

• Lewis Social Venture Seed Fund and Lewis Social Venture Hatchery to provide venture capital and resources for social ventures
• Green Collar Venture Competition to support ventures dedicated to environmentally sensitive undertakings

Academics and Research

• Social Entrepreneurship Monitor (SEM), a research consortium that will examine social entrepreneurship across the globe.  SEM will be basedon Babson's Global Entrepreneurship Monitor (GEM), which examines entrepreneurship levels in more than 45 countries.
• An annual conference bringing together entrepreneurs, business and non-profit enterprises, educational institutions, social ventures, and governmental and quasi-governmental organizations to focus on emerging social entrepreneurship issues.
• The Alan and Harriet Lewis Endowed Chair in Social Entrepreneurship
• Case studies and curricular materials in social entrepreneurship

Students

• Lewis Institute Social Entrepreneurship Student Initiative Award to support student projects
• Social entrepreneurship fellowships and internships

(Source: PR-CANADA.net)

A concern at this point is the lack of discussion around the institute's intention to combine the outreach and research with management training and business administration. We've reported several times on social ventures that have noble causes, but have struggled with commericalization (e.g., alternative energy) or are solving the social issue without paying enough mind to the business model (e.g., recycled clothing). To optimize leadership development, business administration is a must.

On that note, drop a comment to begin an open forum on the obstacles currently affecting the growth of social entrepreneurship. Is there enough funding? Will domestic issues and a weaking US economy diminish international efforts? Let us know your thoughts.