ISB to host Global Social Venture Competition

ISB has received 50 business plans from five countries a India, China, Taiwan, France, and Hong Kong. The seventy Asia finalists were drawn from twelve B- Schools across these countries. ISB, Hyderabad; NMIMS, Mumbai; IIM Indore; SIESCOMS, Mumbai; BITS, Pilani; are amongst the schools that participated from India. Two teams from the regional final will continue to the Global Finals which will be conducted in Berkeley at the Haas School of Business in April 2009.

Twelve teams will be participating in the global finals. The winning three teams at the global finals will be awarded USD 25,000 to start the venture. The plans that demonstrate the highest potential for feasibility, profitability, sustainability, and measurable social impact will be selected. In 2006, the ISB team with the aESafala project was selected for the Finals. The Panellists consisting of 20 ISB Alumni and 25 experts from social sectors have short listed 18 plans (four from ISB, eight from other Indian Schools and six from other Asian countries), based on a reading of these plans and deliberations.

aBusiness is a force for gooda, said Professor Sumantra Ghoshal. Carrying forward his vision, we want to encourage young people to ensure that businesses have a sustained positive impact on society,a said Ajit Rangnekar, Dean, ISB. aThe GSVC competition compels students to combine social responsibility with profitability. It is especially relevant today when traditional methods of conducting business are being questioned. I am sure that the GSVC will be a powerful force in helping young people to come up with viable alternatives that will benefit humanity,a he added.

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