The United Nations SDGs have been taken into the world social business community by storm, influencing fortune 500 and emerging companies alike to shift to a new way of thinking. Social Business initiatives that make a sustainable economic impact for both communities and industry.
At the forefront of the movement are the millennials uniting ideas, causes and strategy to figure out their future as #OneForAll community. Purpose Young people all too often find themselves facing this question; Would you rather make money, or make the world a better place? Of course, a full and rich life requires both, but all too often, we are led to believe that doing good or making money is a binary choice. However, Camilo Galvis and Angelica Fuentes are taking steps to that way of thinking according to a recent NASDAQ Marketsite interview by Silvia Davi and Equities.com.
As co-founders of The Imperative Fund, Galvis and Fuentes work to pull struggling communities throughout the globe out of poverty. However, unlike so many philanthropic efforts, they are not seeking government help, but instead, they are looking to the free market to help spur sustainable environmental trade development.
"Camilo Galvis, who also serves as CEO of the Imperative Fund." "I think that the open market economy has served us well in achieving various different things, on a technological level and a scientific level that is groundbreaking. "So my real incentive was thinking, 'How can we bring social mobility to the sector?'"
A Holistic Approach to Economic Development
Camilo Galvis. "We have to realize that, in order to have a structural change, real impact in terms of the work we are doing in different communities, we will have to have a holistic approach." "In understanding, eventually, that poverty is multidimensional, and it's made up of the lack of access to various goods and services, we tried to think about it, even if it was just at a theoretical level: elimination? And we realized that we could move into a neighborhood, eliminate those poor conditions and recover 100% of the invested funds, which would then allow, in turn, to move on to the next community, and keep on doing and activating this process For as many communities as we can can benefit from such a framework. "
So what, precisely, is their model? Galvis explains it as such: "Imperative Fund moves into a community and eliminates all poverty conditions, in 24 months or less - and five years to recover the capital. With a 5% annual return on our investment. "
In order to ensure their efforts, the team at the Imperative Fund operates very strategically when choosing which regions to cultivate. "We're currently starting up work in Mexico," says Galvis. "The country was currently ripe for this type of work to be done. There is currently a considerable amount of poverty in the country. More than 40% of the country, under any given measure, you can eventually locate within the poverty margins. But at the same time, there is prosperity in the country as well. And what we can do to make sure that we can use this prosperity in order to provide an additional level of support for social mobility. "
In a previous article I covered "Why More Companies Are Partnering with the UN to Improve Growth and Sustainability Goals". What's interesting to me, is Galvis has really taken the path out by the 193 countries that established the Sustainable Development Goals, practically SDG # 17, Public-Private Partnerships. The lesson in # 17 is for private origins to lead sustainable business models to help social or community development through public channel co-operation. Imperative Fund has just done - and now Mexico is looking to Galvis and Fuentes to expand their efforts from a single pilot location to six locations offering local municipality support.
The Privatization of Doing Good
For Galvis and Fuentes, the ability to work philanthropically, while still knowing they are able to create a robust return on investment is part of what makes the work so gratifying - and such a refreshing change of pace from traditional charities and non-profits. "We do not have to worry about what we are going to do," he said. Federal government, in order for this to be a reality. "
"At the end of the day, what we're trying to do is privatize social mobility," explains Galvis. "So when we started doing this work, we moved into a gray area. For example, many philanthropic organizations, which would be the ones that would be, initially, considered to be interested in such a project, where there is sustainability and then you can just grow, Community to the next.
Of course, Galvis and Fuentes have certainly experienced their share of challenges. Says Galvis: "Because of the bylaws of philanthropic organizations, they would be constrained in terms of how much they could contribute to our organization, because now we have a profit, not a not-for-profit. We feel very proud that we can not only get the money, but offer the five percent return.
The progress has already begun "I can tell you that we're getting great support from, not only multilateral institutions, but we're also getting a lot of family offices involved that actually consider Financial return, but there is the social return that we are pursuing. "
When I asked Mr. Camilo Galvis what his personal goals were and where he envisioned Imperative Fund and the good work they are doing going in the end. Galvis simply responded, "if in the next decade or couple of decades we succeed in privatizing social mobility and poverty elimination, as a result of the specific framework we developed, this would also undoubtedly result in financial success The objective of the Fund is to provide financial support to the Fund, In this respect, imagine if in a couple of decades from today we live in a world where there are 9 or 10 companies worldwide, which is more efficient, with a better return for its investors Around the globe. That could prove the ultimate measure of our success. "
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