ISB promotes businesses to bring positive social change

Updated on: Friday, March 20, 2009

Mumbai: The Indian School of Business (ISB) is actively promoting businesses to bring about a positive social change in a sustained and measurable manner. The ISB is hosting the Global Social Venture Competition (GSVC) to identify new businesses that are committed to being profitable and at the same time socially impactful. The GSVC is an international forum for exceptionally bright students and entrepreneurs with path breaking social venture ideas. This competition is being conducted in collaboration with Haas School of Business, Columbia Business School, London Business School and is open to B-school students across Asia

“Business is a force for good”, 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,” said Ajit Rangnekar, Dean, ISB. “The 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,” he added.

The ISB has received 50 business plans from 5 countries – 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 are participating 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 final 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 ‘ESafal’ project was selected for the Finals.

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ISB promotes businesses to bring positive social change

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