Getting In the Arena: Good Ideas and Innovations Often Come From Unexpected Places

Through the first 20 years of the Case Foundation, we’ve covered a lot of ground and been to a lot of places. Along the way, we have found that innovations come from people and places that might surprise you. While news reports focus on the power of Silicon Valley or financial centers like New York and London, we have found numerous great ideas and passionate innovators in places policymakers, funders and trend watchers have often overlooked.

Three U.S. cities are great examples of the excitement and innovation that we have found:

Pittsburgh: In Pittsburgh, we found a unique combination of incubators, accelerators, universities, tech companies and investors, driving this former steel town to experience a resurgence in the form of a technology boom. While many still think of Pittsburgh as the Steel City, the engineer and technology ecosystem that has sprung up in the aftermath of the collapse of the steel industry in the 1980s is one of the reasons that Ford pledged in February to invest $1 billion over five years in a Pittsburgh-based company specializing in artificial intelligence and autonomous car engineering. This community of innovators, incubators and educators is creating a wide range of interesting projects. Pittsburgh innovators we met ranged from Courtney Williamson, founder of AbiliLife, a biomedical company that engineer’s devices for Parkinson’s patients to Vaish Krishnamurthy of CleanRobotics, whose Trash bot uses artificial intelligence to sort recyclables from waste, to Matthew Stanton and Hahna Alexander, cofounders of SolePower*, a technology that uses a foot-powered energy generating insole that can be used to charge portable devices—something of particular interest to the U.S. Army. Even the accelerators in Pittsburgh like AlphaLab Gear bring a unique vision that reflects the best of the region where they are located, supporting hundreds of innovators, expanding understanding of the excellence of the companies in the area and attracting significant outside capital to the region.

Durham: On our recent visit to Durham, we found a renaissance is occurring in the city. Yes, there are tech stories to tout, but the real story is of citizens, companies, institutions and Duke University coming together to invest, expand and reclaim downtown Durham for growth while ensuring that all that defines this community as a thriving, American town includes those who have stayed and those that played a role in making Durham, well…Durham.

At American Underground hundreds of entrepreneurs—from single person startups to ventures like Fidelity Labs, Fidelity’s R&D and innovation catalyst unit—sit side-by-side, creating new companies and pursuing new business ideas in a space where they can also receive the training, accelerator classes and support from Google for Entrepreneurs that rising startups need to take their great ideas to the next level. And we saw the American Tobacco Campus, where local business leaders had transformed the abandoned corporate headquarters of the company that marketed “Lucky Strikes” into a multifaceted center that housed restaurants, businesses and cultural hubs—like the local NPR affiliate and the YMCA—that are helping fuel the dynamic ecosystem that downtown Durham has become.

Detroit: Detroit’s rebirth can only be described as epic. Left for dead by most after the 2008 economic crisis, visionaries like Quicken Loans founder Dan Gilbert and entrepreneur Tom Kartsotis have helped not only build strong companies, but create thousands of jobs for out-of-work Detroit citizens, giving them an opportunity to prosper as part of the modern economy. Gilbert, who moved Quicken Loans and all of its employees to Detroit, has invested heavily in Detroit real estate, helped dozens of startups, and now employs an estimated 12,500 people. (daveseminara.com) The portraits of those who have found jobs at the companies that have started in Detroit since the Great Recession or started businesses that are fueled by this resurgence highlight how new skills and a new way of thinking about work is being created in the shadows of the once great automobile industry. Detroit’s renaissance is also thanks to the visionary collaboration between the private sector and leading philanthropies, including our colleagues at the Kresge, Ford and Kellogg Foundations. Their work in bringing all sectors of the society to the table is a key to the broad based impact the economic and social revitalization has has had. Detroit has a long way to go, but the new ideas and optimism coming from this city sets a great model for others to follow.

While the names of the local startups and visionaries are often the first thing that one remembers from these trips, one of the great advantages these cities have is community and all the diversity of actors that brings with it. It is as if they have chosen to turn their backs on the “go it alone” mentality and see a competitive advantage in getting as many sectors of their society as engaged as possible. In Pittsburgh, the role of Carnegie Mellon and the University of Pittsburgh, as well the role of Deloitte, Accenture and Barclays in innovation initiatives cannot be left out of a proper telling of the rebirth in Pittsburgh. While touring the American Underground facility in Durham with Doug Speight, the CODE2040 Entrepreneur in Residence and guru behind many Durham startups including Cathedral Leasing, he mentioned that women lead 29 percent of the projects housed in American Underground’s Durham sites and 28 percent are minority led. This was evident as we walked the hallways, and it makes American Underground one of the most diverse incubators in America, reflecting the fabric of the Durham experience. And the breadth of the players involved in rebuilding Detroit—from automobile companies to community organizers and political leaders, to philanthropists and entrepreneurs—highlights both the scale of the task and how they are committed to ensure as many as possible share in the benefits of rebuilding as possible.

This spirit is not limited to the United States. Great ideas and innovation, informed by the unique perspective that different lifestyles and backgrounds bring, are found worldwide.

While touring Africa, we met numerous entrepreneurs who were crafting new innovations informed directly from their personal experiences. In Nairobi, we visited a sanitation company, Sanergy. Sanergy’s vision is bold and robust: attack a massive hygiene and sanitation problem across communities by not only providing toilets to underserved areas, but by building a comprehensive entrepreneurship-driven model that creates jobs in underserved communities. Converting the waste into organic fertilizer, insect-based animal feed, and renewable energy, Sanergy’s model is emblematic of new approaches we saw throughout Africa.

In Iceland, I met Thor Sigfusson, the leader of the Iceland Ocean Cluster. This startup accelerator in Reykjavik houses 80 startups that are building businesses to use 100% of the fish—from salmon skin clothing to cosmetic products made of fish bones to nutrition and medical supplements from organs of the fish. The idea is that if more fisherman could capture value from 100 percent of the fish, they would need less fish take to make a living, leading to more sustainable fishing practices for the whole country. And given that Iceland takes 80 million cod out of their waters, their impact could be significant.

And as co-chair of the U.S.-Palestinian Partnership (UPP), a public/private partnership launched after the Annapolis peace talks, I saw firsthand the progress that can be made when communities are given a chance and the tools to innovate. UPP promoted economic and educational opportunities for the Palestinian people in order to facilitate progress toward a two-state solution, wherein Israel and Palestine can live side by side, in peace, security and prosperity. Linking support of young entrepreneurs by world-class tech companies like Google and Cisco, and launching the first-ever Venture Capital fund in the West Bank, represented hope and promise for new economic activity, particularly in the impressive IT sector in the region. This, coupled with affordable loan programs for small businesses, the building of new youth centers, helping to foster tourism, and leading business delegations, contributed to increase economic activity and helped demonstrate that the West Bank is open for business and that great ideas and innovations come from all places, including the West Bank.

These are just a few of the hundreds of examples of innovators and entrepreneurs who are Getting In the Arena in communities worldwide. We have found innovation in all sectors coming from all corners of the world. As we look forward to the next 20 years of work, we believe that the next great ideas will come from these overlooked people and places and, frankly, this makes us more excited than ever to see what they create and to identify what we can do to support their efforts to get the attention, and investment, they deserve.

*Disclosure: Jean and Steve Case are investors in SolePower. 

34 Organizations Building Social Capital for Diverse Entrepreneurs to Follow on Twitter

Accelerator. Incubator. Ecosystem Builder. Social Capital. These words are commonly used in the startup world, but can feel like jargon to those unfamiliar with the entrepreneurship space. They describe the partners and resources that are essential in an entrepreneur’s journey—mentors, education and connections that help founders succeed. Harvard Kennedy School refers to social capital as “the collective value of all ‘social networks’ (who people know) and the inclinations that arise from these networks to do things for each other (‘norms of reciprocity’).” Basically, social capital ensures that you are connected to the right people who will provide you with trusted information, collaboration and partnerships. Social capital is particularly important when an entrepreneur is just starting out and needs advisors who have been there before and connections to funders who are willing to work with them to build a business.

At the Case Foundation, we believe that the next era of entrepreneurship is about leveling the playing field, expanding participation and scaling the networks of social, financial and inspiration capital that provide the foundation for successful startups and scalable business. We partner with social capital networks providing important connections, training and mentorships for entrepreneurs, as well as the investors and influencers working to change the way capital flows to diverse entrepreneurs. Incubators for those just starting out, accelerators for those looking to grow and the ecosystem builders generally paving the way for entrepreneurs to succeed.

All entrepreneurs have similar needs—mentorship, funding, role models—but not all entrepreneurs have equal access to those resources. We see disproportionate funding going to white male entrepreneurs and underrepresentation of women entrepreneurs and entrepreneurs of color in most major incubator and accelerator programs. When only a portion of the entrepreneurship community has access to the stepping stones needed to grow their business, it’s no wonder most of the breakout companies we laud in our society are founded by white men. To combat this trend, we have committed to catalyzing the inclusive entrepreneurship movement and launched #FacesofFounders to shed more light on the diverse entrepreneurs scaling businesses and important conversations around inclusive entrepreneurship we must have to change how our culture views entrepreneurship.

Fortunately, more and more entrepreneurship programs are being set up with intentionality around creating on-ramps for women entrepreneurs or entrepreneurs of color. Whether it’s a network for women only or an existing accelerator that has benchmarks for inclusion among its cohort, entrepreneurship supporters are getting serious about providing the resources diverse founders need to be successful.

To learn more about these inclusion-focused accelerators, incubators and ecosystem builders, we’ve put together a list to get you started. These organizations are committed to the inclusive entrepreneurship movement, taking action within their organizations to support diverse entrepreneurs and leaders in the field demonstrating the value of providing underrepresented groups of entrepreneurs with access to capital, networks and support. We are proud to be working to advance inclusive entrepreneurship alongside these organizations and the many more out there committed to this work!

Follow all of the organizations below with one click—subscribe to our Twitter list!

Organization Name
Twitter Handle
Twitter Bio
500 Startups
@500Startups
500 Startups is a seed fund & a network of startup programs. Founded by PayPal & Google alums. Born in Silicon Valley, the #500STRONG family is worldwide.
American Underground
@AmerUnderground
The ‘Startup Capital of the South’ and one of ten Google for Entrepreneur Tech Hubs. We are home to more than 275 startups in downtown Durham & Raleigh.
Black Founders
@blackfounders
Dedicated to increasing the number of successful black entrepreneurs in tech.
Black Tech Week
@blacktechweek
Black Tech Week is a week long series of events in Miami, Florida celebrating innovators of color. contact@blacktechweek.com
Blackstone Launchpad
@bxlaunchpad
Blackstone LaunchPad is a campus entrepreneurship program offering coaching, ideation and venture creation support. http://t.co/eBdvnPhkvo
Blueprint + Co
@blueprintandco
The workplace that works for you.
Change Catalyst
@changecatalysts
Empowering diverse leaders to #changetheworld. #socent #BCorp #impinv #startups #techinclusion16 https://t.co/8qMdI23qfd by @mbrianaepler @waynesutton & team
Circular Board
@CircularB
A collaborative startup accelerator serving a thriving community of globally minded women entrepreneurs.
CODE2040
@CODE2040
Top black and latinx tech talent. Founders @tristanwalker + @laurawp. Follow the CODE2040 family: https://t.co/BS9giAiF33
Defy Ventures
@DefyVentures
We are an entrepreneurship, employment, and leadership training program that serves people with criminal histories.
digitalundivided
@digundiv
digitalundivided (DID) fosters economic growth through the empowerment of women of color entrepreneurs.
DivInc
@DivIncatx
We are a 12-week pre-accelerator program focused on championing diversity in the tech startup ecosystem.
Duke I&E
@EshipatDuke
Latest happenings from the Duke Innovation and Entrepreneurship Initiative.
Google for Entrepreneurs
@GoogleForEntrep
News and updates from Google for Entrepreneurs.
Groundwork
@groundworklabs
A community that provides mentorship, peer-support, and a discovery experience for select startups and entrepreneurs
Halcyon Incubator
@HalcyonIncubate
Supports early stage social entrepreneurs through an immersive 18-month fellowship program
HBCU Innovation
@HBCUInnovation
in3
@In3DC
Inclusive Innovation Incubator (In3) – D.C’s first co-working, training, & incubator space intentional about diversity & inclusion. #FindYourIn by @luma_lab 💡
Jumpstart Inc
@jumpstartinc
We are a nationally recognized nonprofit that unlocks the full potential of diverse & ambitious entrepreneurs to economically transform entire communities.
Kauffman Foundation
@KauffmanFDN
Fostering economic independence by advancing education & entrepreneurship. RTs ≠ endorsements. House Rules https://t.co/963BVtcqVu
Kapor Center
@KaporCenter
The Kapor Center is relentlessly pursuing creative strategies to leverage tech for positive, progressive change.
Latino Startup Alliance
@Latino_Startups
To encourage the inspiration & cultivation of Latino led tech startup ventures by providing a support network of fellow innovators, mentors & investors.
Nasdaq Entrepreneurial Center
@thecenter
The #startup for startups! Designed to #educate, #innovate, and connect #entrepreneurs – all free of charge. Grow your ideas. Get inspired. Tell your story!
New Profit
@newprofit
Break through with New Profit. https://t.co/mRBW5FClRb
The Pink Ceiling
@thepinkceiling
Propelling Breakthroughs for Women | Strategy + Investing | Mentorship Through the #Pinkubator | All Woman Team | Founder Cindy Whitehead @cindypinkceo
PowerMoves
@PowerMovesUSA
PowerMoves is about creating power through opportunity – the opportunity of high growth minority Traditional & Tech Entrepreneurship.
Project Entrepreneur
@pjtentrepreneur
Project Entrepreneur ignites bold ideas by providing women access to the tools, training and networks needed to build scalable, economically impactful companies
SEED SPOT
@seedspot
#SocEnt incubator w/ locations in Washington, D.C. & Phoenix, AZ. Educating, accelerating & investing in entrepreneurs creating solutions to social problems.
Sephora Accelerate
@SephoraStands
Through Sephora Stands, we will use our strengths to promote even greater good by supporting female entrepreneurs in beauty, our communities, and our people.
Social Innovation Lab
@SIL_Baltimore
Social Innovation Lab at @JohnsHopkins – Accelerating ventures that create change and opportunity in Baltimore and beyond. Director: @DariusG
Tory Birch Foundation
@ToryBurchFdn
The official Tory Burch Foundation tweets.
Unshackled Ventures
@UnshackledUS
An early stage venture fund for immigrant founders to create economic value in the U.S.
Village Capital
@villagecapital
We democratize entrepreneurship. Entrepreneurs themselves build and invest in world-changing companies. A new type of VC.
Women’s Startup Lab
@wslab
Leading Women’s Startup Accelerator in Silicon Valley. Be Exceptional. Be Extraordinary. Be the Impact.

For more data on accelerators and the entrepreneurs they serve, check out the Global Accelerator Learning Initiative led by the Aspen Institute and Emory University at https://www.galidata.org/.

Have other tips for choosing an entrepreneurship program? A program or ecosystem builder you’ve seen that’s committed to inclusive entrepreneurship? We know there are many more out there! Share them with us at FacesofFounders.org or on Twitter with hashtag #FacesofFounders.

An Earth Day Guide to Action Through Impact Investing

Since 1970, April 22nd has marked the celebration of Earth Day, an opportunity for many individuals and organizations to renew their commitment to consume less, learn more and explore new ways to protect and preserve our planet. Historically, focusing on the role that investments can play in support of Earth Day isn’t something we’ve heard a lot about. Yet, the growth of the impact investing sector means that more and more socially conscious investors are thinking about the role that capital can play to blend profit and purpose.

In honor of Earth Day 2017, here are a few of ways you can start on your own journey.

Renew your personal commitment

The Earth Day Network, and many organizations like it, promote opportunities, events and resources for each of us to celebrate and recommit to conservation and preservation.

Earth Day Network suggests a few actions we can take this year, such as:

  • Reducing your environmental footprint by exploring how you can reduce your impact on the planet
  • Stop using disposable plastic by taking a pledge to reduce consumption
  • Planting or donating trees to combat deforestation and reduce global greenhouse gas emissions

Explore the opportunity for investment

At the Case Foundation, we’ve been committed to scaling impact investing over the last several years. This work has focused on inspiring and educating a range of investors on the opportunity to align their dollars with personal values. With recent growth across impact investing, many investors are poised to activate their impact strategies. We’re emboldened by the sectors experiencing the most growth and showcasing real investment opportunities.

Climate change is one such sector. The Global Sustainable Investment Alliance, a network of sustainable investment organizations recently released its 2016 Investment Review. The Investment Review tracks and reports out on sustainable investment activity worldwide, with specific trends across multiple geographies. Though the GSIA includes investment activity across many approaches to impact—beyond impact investing alone—the increase in activity is inspiring.

According to the 2016 report, $22.89Tr of assets were professionally managed under responsible investment strategies, up 25% from 2014. Responsible investment—as a broad range of strategies and asset classes—represents over 1/4th of professionally managed assets globally.

In the U.S., the report suggests that climate change remains the most significant environmental factor assessed across sustainable assets. Even in smaller asset classes and funds – like private equity and venture capital – the most popular ESG issue last year was clean technology. Climate change and carbon emissions were specific areas where funds incorporated interventions into their investment process.

Growth across sustainable investing—and the role that climate plays—is an exciting opportunity for environmental themes to continue to be front and center as investable opportunities.

Learn from others to kickstart your investment journey

Earth Day is also an opportunity to follow in the footsteps of trailblazing organizations that are similarly interested in protecting our planet.

  • Last month, we wrote about the compelling case study of the Rockefeller Brothers Fund aligning their endowment more closely with their programmatic mission. In a webinar led by Jean Case, Justin Rockefeller of the Rockefeller Brothers Fund and Jameela Pedicini of Perella Weinberg Partners outlined the concrete steps to blending profit with purpose. In the case of the RBF, they undertook tactical steps, like defining their impact, knowing what you own, and committing to measurement.
  • In March of this year, our partners at The ImPact, continued their broader mission to on-board families into impact investing with a primer on Water. With the growing role that HNW individuals and families will play in scaling impact investing, the primer helpfully outlines considerations for families who want to invest in water to help preserve our natural resources.
  • ImpactAssets has also developed material to explore the more nascent sectors within which impact investing can grow. Sustainable agriculture is one such opportunity. In adding 2 billion people to the planet over the next 30 years, our practices around sustainable farming and food production are in need of reformation. Investment capital can play an important role in revitalizing and innovating current practices.
  • You don’t have to be a big investor or a large organization to make an impact with your dollars – you can also start to look at your own investments. The Divest/Invest movement is one such example. This effort looks to engage a diverse range of investors and individuals in a global effort to reduce investment into fossil fuels. Through this and other efforts, you can make a pledge or take action towards refining your own investment footprint.

Whether your Earth Day commitment involves your time, your community’s energy, or your organization’s assets, there is a role for impact investing to be incorporated into your thinking about conservation, sustainability and preservation of the planet.

Be Fearless Spotlight: Washington Area Women’s Foundation

This Spotlight is a part of a special blog series curated by the Case Foundation featuring Be Fearless stories from the field. Follow along with us as we meet people and learn about organizations that are taking risks, being bold and failing forward in their efforts to create transformative change in the social sector. In this most recent spotlight, we had the chance to sit down with Jennifer Lockwood-Shabat, President and CEO of the Washington Area Women’s Foundation for a Q&A about how the Women’s Foundation is living the Be Fearless principles in their work.

Q: What does your organization think it means to Be Fearless?

A: For Washington Area Women’s Foundation, to “Be Fearless” means to stand when others are sitting, raise our voices when others choose to be quiet and push harder when others choose to give up. Being fearless means believing that all girls in our community can grow up with a clear vision of a future beyond poverty. The mission of The Women’s Foundation is to mobilize our community to ensure that economically vulnerable women and girls have the resources they need to thrive. Our overall goal is to move all women and girls currently living in poverty to a place of consistent economic stability—and to get there, we must Be Fearless.

Economic security has been central to our mission since our founding, but it’s not enough to simply say that we are working with low-income or economically vulnerable women and girls—we are being intentional and explicit in our language and our actions. We are letting urgency conquer fear and are no longer leaving unsaid the realities facing women and girls, and the ways that race and ethnicity further contribute to that reality. It’s for that reason, and many more that on January 21st, we launched #our100days, a way for everyone in our community to Get In The Arena and take action. Every day we provide a single task that can make our communities better for the women and girls who live in them.

We believe that every woman should have an equal opportunity to achieve economic security and with our fearless and bold vision, we are continuously forging ahead towards that goal.

In an effort to further address the disparities facing women and girls at the intersection of race and gender, we officially launch the Young Women’s Initiative (YWI) this spring, centered around the voices and lived experiences of women and girls of color, coupled with reaching beyond our bubble and building partnerships across multiple sectors to increase opportunities for more equitable outcomes for young women and girls of color in the Washington region.

Q: What goals are you working towards at your organization and how do the Be Fearless principles help you achieve them?

A: With the Be Fearless principles, we can affect real change and we’re not asking for permission to do it. With #our100days, we’ve managed to connect with the community through social media and our email database, and we’ve received real feedback on our action items and work, and have made collective strides to help our Grantee Partners and other community organizations. With #our100days, people can Get In The Arena by doing anything from donating baby clothes to a mother in need, to highlighting women in our communities who have made an impact on our lives.

Moreover, through our YWI, we will initiate policy changes and increase programmatic investments to alleviate the racial and gender disparities placed on women and girls of color in the District. We are in the midst of several convenings with local policymakers, community activists and low-income women and girls of color. Innovation happens at intersections, so making space for these partnerships will help to uncover barriers and identify potential policy solutions as a part of our racial equity and policy initiatives.

Q: What “big bets” have you and the Women’s Foundation made, and how have those goals paid off?

A: At The Women’s Foundation we are firm believers in the saying, “Don’t talk, act. Don’t say, show. And don’t promise, prove.” Our big bet is our public commitment to advance equity for women and girls of color and tackle systemic and structural racism head on so that we can truly advance our mission and ensure that all women and girls in our community have the opportunity to thrive.

Our advocacy agenda is informed by the insights and lived experiences of those who are most impacted. Through our work with #our100days and the development of YWI, we have been engaging our community and seeking their feedback regarding potential solutions that address their most pressing concerns. These solutions serve as the foundation of a larger community action plan, inclusive of a set of recommendations which will inform our advocacy and grantmaking agendas, in addition to identifying potential improvements for current direct service provision and service alignment.

We are solidifying an advocacy agenda, and a list of recommendations that are community-driven and reflect the lives of those most impacted. Through the parallel development of YWI and our advocacy agenda, we intend to create a positive ripple effect across society and ultimately improve the quality of life for women and girls in our community.

Q: Tell us about a time when your organization let urgency conquer fear.

A: A sense of urgency drives us. Washington, D.C. is one of the most powerful cities in the world, yet 1 in 4 women and girls in the region are experiencing economic instability and this number has remained stagnant for a decade. We know that despite the best efforts of many initiatives, generations of our region’s women and girls have grown up in poverty, with little hope of a brighter future—and we can’t let this continue.

The time is now for bold and ambitious changes that will eliminate opportunity gaps and structural barriers, directly increasing economic security for women and girls in our region. We are committed to both pilot new methods of philanthropy and community engagement to drive greater philanthropic change, and to advocate for improved policies on behalf of women and girls.

Last year alone, through our research, advocacy and grantmaking initiatives, we reached more than 3,600 women, and helped them increase their incomes and assets by $3.6 million. We will continue this multifaceted approach, using a racial equity lens to build pathways out of poverty for more women and their families. Currently 15 percent of Black women and 15 percent of Latinas living in poverty compared to 5 percent of white, non-Hispanic women.

We will fearlessly tackle racial equity head on to close the economic gap experienced by women and girls of color in the region. With #our100days and the Young Women’s Initiative, we will get in the arena and use our voice, our resources and the community we have created to remove the barriers women and girls of color face.

Feeling inspired? If you’re ready to begin your own Be Fearless journey start by downloading our free Be Fearless Action Guide and Case Studies.

From Education to Activation: Exploring the RBF’s Journey into Impact Investing

Over the last four years, the Case Foundation has been deeply committed to catalyzing the Impact Investing movement. Alongside partners, we seek to inspire, educate, and activate investors around the potential to put private capital to work to solve some of our most complex challenges. Today we are excited to see a growing and diverse set of actors engaged in Impact Investing, led in part by innovative first-movers. These include high net-worth individuals and institutions who have begun to seek financial and social returns by aligning their investment portfolio with their values.

As part of our movement building efforts, we’ve learned that sharing stories and insights from those who have transitioned to impact investing can be valuable to those who aren’t as far down the path.  In 2016, we were fortunate to partner with Omidyar Network and The Giving Pledge to take a closer look at the Rockefeller Brothers Fund’s journey into impact investing, in hopes that it can serve as inspiration and guidance for others.

As part of that work, Case Foundation’s CEO Jean Case led a webinar with Justin Rockefeller, Trustee of the Rockefeller Brothers Fund (RBF) and Co-Founder of The ImPact and Jameela Pedicini, Director of Perella Weinberg Partners (PWP). Through this conversation, Jean explored the decisions made at RBF to ensure the portfolio was set on a clear path toward market returns, while choosing investments that more closely aligned with their values.

As organizations rethink how to blend profit and purpose, we encourage you to watch the webinar to learn from RBF’s journey. Here, are a few key themes that came to light:

 1. Define your impact

As Jean mentions at the start of the conversation, “impact investing means different things to different people.” At the Case Foundation, we believe that a broader interpretation allows more people to gather around the impact investing table. But that does not relax our expectations around what it means to generate both social or financial returns.

Instead, our definition of impact investing focuses on three necessary conditions to help narrow in on just what each of us means by “impact”:

  • Intentionality – are objectives clearly articulated across social and financial goals?
  • Measurement – will the organization track performance across both objectives?
  • Transparency – does the organization share – or intend to share – insights into their process and performance (as much as is able) to help create more examples around what works and what doesn’t?

2. Know what you own; then develop an investment process that leverages your strengths

The RBF’s programmatic approach spans several sectors, including democratic governance, sustainable development and peacebuilding. The grantmaking arm of the RBF has developed a thoughtful approach to promoting sustainable development, particularly around the environment and climate. When the time came to evaluate how the entire investment portfolio – and ultimately the endowment – could reflect the principles and values of the RBF, they looked to their strengths.

“25% of our program dollars go to fighting climate change,” Justin says, “we thought this was so fundamental to the work we do, that we should start there.”

By leveraging a diverse set of tactics, including divestment, an ESG lens (integrating Environmental, Social, and Governance factors), active ownership, and investing with Impact managers, RBF and PWP set out on the task together. With these tools in mind, they looked to activate RBF’s vision on what a thoughtful climate-focused strategy might look like.

We’ve seen time and again Foundation’s struggle between focusing on grantmaking vs. using their investment levers, but as Justin points out, “every foundation has different tools on its tool belt – the endowment is just one of those tools.”

3. Commit to a measurement framework

Once the mission was clear and the rigor made explicit, activating the strategy was next. The RBF and PWP started by shifting the Investment Policy Statement (IPS), transforming the objective of the portfolio from “maximizing returns” to “continue in perpetuity with generational neutrality.”

Formalizing this mission– and bringing stakeholders like the Board, senior leadership, and the Investment Committee along in the process – is a critical step to ensure that impact is sustainably interwoven into the way investments are identified and selected.

Jameela Pedicini also suggests that practices around consistent measurement can lead to broader behavior change. “Regular impact reporting,” for example, “will help us assess long term tends.”

By drawing on the journeys of organizations like the RBF, we will develop a stronger narrative around what impact investing can look like across actors. We hope that sharing these insights will provide high net-worth individuals and families, foundations, corporations, and others concrete examples to follow. We will continue to look for opportunities to showcase case studies and lessons from various organization, as part of our broader efforts to take impact investing to the next level.

We invite you to watch the full conversation here. You can also learn more about the RBF’s journey through The ImPact’s recently launched case study; “Rockefeller Brothers Fund: Impact Investing Case.”

Getting in the Arena: Digital Divide, Then and Now

Throughout our 20th year, we will be focusing not only on those heeding our call to the “Get In The Arena” in 2017, but also on how important we have found this principle in all the work the Case Foundation has led throughout its history. And no initiative is more emblematic of this than our work to close the digital divide.

But to bring this lesson to life, we have to go back more than 20 years…

It was the 1990’s. Late one afternoon I sat in my office at America Online and waited while my assistant transferred the call. It was another teacher on the line and I knew why she was calling. I had been receiving a growing number of calls and letters from parents and teachers around the country who mostly shared the same tale: they were deeply concerned about the growing digital divide among neighborhoods and classrooms that left some children advantaged, while others were being left behind. Teachers would point out that some kids in class were using the Internet extensively to prepare papers or augment their classroom learning, often turning in professional-looking reports and homework that had been crafted with best-in-class technology in their homes, while others students were still struggling with the literal “old school” preparation—handwriting, limited resource material to reference, no fancy charts or pictures for their reports. “It’s not fair,” the teacher would plead. “Can’t AOL do something to help these students and families that don’t have access?”

The world has changed a lot since then and, even if you are old enough to remember that period, it is hard to remember what life was like in the 1990’s as the Internet began to explode on the scene. We had introduced America Online to world in late 1989 and then in 1992, it became legal to connect to the Internet—then better known as the World Wide Web—which had previously been accessible only to those in government or academia. We had seen firsthand the divide this teacher was so concerned about and we shared that concern. We set out to engage in a number of initiatives at AOL, including “Net Day” in 1995, designed to wire our nation’s schools to expand access.

But it wasn’t until after I left AOL and co-founded The Case Foundation with my husband, Steve Case, that we finally arrived at what we believed was a big idea—to break down the barriers to access by bringing internet access to key underserved communities.

Not surprisingly, one of the Case Foundation’s first major initiatives was PowerUp, an alliance formed alongside many in the tech industry to create and equip 1000 after school technology centers in low income urban neighborhoods, rural communities and even Indian Reservations. The effort really targeted those we knew had been left out of the tech boom. The Case Foundation provided an initial grant of $10 million to establish PowerUp with half of the grant covering all staff and administrative costs for the program and the other $5 million in the form of direct grants to the community and school based organizations that were the key to the effort’s success. In the end, PowerUp—working not only with the Case Foundation but also with AOL, Cisco Systems, HP, the Waitt Family Foundation and partners like the Boys & Girls Clubs, YMCA, National Urban League and America’s Promise—equipped 957 technology centers covering all 50 states. The collaboration among these many different groups ensured that PowerUp was able to pull the right tools together to meet the unique needs of each community and that each partner—from the community organization to the tech giant—played to their strengths.

And the effort touched millions of lives. 75 percent of the students involved did not have a computer at home, 82 percent of the children who participated were youth-of-color. In the end, this collaborative helped break down the barriers of access and created safe learning spaces where many of the centers reported the children were not only succeeding, but were also bringing their parents in so they could also learn the computer skills they needed to compete and succeed.

This work, along with the work of many others, helped close the digital divide. Almost nine-in-ten American adults now use the internet, with near-saturation usage among those living in households earning $75,000 or more (98 percent), young adults ages 18-29 (99 percent), and those with college degrees (98 percent).

Our work at PowerUp showed we could make a real impact. And we are very proud of the extraordinary inroads that have been made since we kicked off this effort in 1999 as it shows the power of what citizens, institutions and companies can do when they make a big bet, use entrepreneurial approaches and collaborate together to achieve a goal.

While we made great progress, we never forget that the picture is not perfect as disparities remain. Today, internet usage in rural communities lags significantly behind suburban and urban communities (81 percent compared to 90 percent and 89 percent, respectively) and elderly and lower income citizens have less access to the internet than others—with only 64 percent of those over 65 and 79 percent of those earning less than $30,000 a year using the internet according research conducted in 2016 by the Pew Research Center.  And internet speeds in over 25 percent of the country lag so drastically that multiple students in these mostly rural communities cannot be online at the same time in some classrooms and people congregate outside libraries and stores that have high speed connections in scenes similar to what one sees in Cuba.

But today’s more significant divide can be seen in developing countries.  Just last year, the International Telecommunications Union (ITU), estimated that 53 percent of the world’s population—3.9 billion people—were not using the Internet, with almost 75 percent of the people of Africa not online. The ITU’s 2016 report goes on to state: “In Asia and the Pacific and the Arab States, the percentage of the population that is not using the Internet is very similar: 58.1 and 58.4 percent, respectively.” In our ever more interconnected world, these statistics show over half the world’s population is unable to take advantage of the information and opportunities we consider commonplace.

And, while this data is concerning, I am heartened by all the new players who are now applying many of the strategies we deployed in the United States to close the digital divide in the developing world. As I mentioned in my examination of the importance of the entrepreneurial spirit, the role the private sector is playing to increase accessibility in frontier markets is impressive.

A great example of this can be seen in the work that Vint Cerf described at SXSW earlier this month. Cerf played a key role in developing the early internet while at the Department of Defense, but he is now the chief internet evangelist at Google and co-founder of the People Centered Internet. He uses his leadership role to engage corporations and public entities to collaborate more effectively to bring connectivity to more people. For example, Cerf is pushing the World Bank to make Internet development a key part of their global infrastructure development efforts. This would not only increase investment in internet infrastructure in underserved regions, but also ensure that when a World Bank funded infrastructure or agriculture project is built, fiber optic cabling and internet accessibility are incorporated in the plan. When combined with his role at Google, where they are experimenting with innovative ways to deliver connectivity such as floating specialized balloons at 60,000 feet to deliver wireless Internet in areas where infrastructure development is less feasible, Cerf has turned from being an inventor of the World Wide Web to a convener of multiple companies, institutions and technologies to expand access to those who have been overlooked.

And there are examples all over the world of unlikely pairings coming together to bridge the digital divide, from non-profits, the government and companies like Cisco working together in Mexico, to the Indian government’s commitment to increase mobile usage nationwide to the work being done in multiple countries across the continent of Africa. Also just as exciting are new innovators that are using new models to overcome traditional barriers, like Jana, a mobile advertising company that provides free Internet access and apps in return for viewers watching advertisements. They now have over 1,000 apps and serve millions of users in Africa, Southeast Asia and Latin America.

We have come a long way in the last 20 years. And the lessons we learned in shrinking the digital divide in the United States can provide useful insights to those tackling these challenges in developing regions like Africa, Southeast Asia and Latin America. To move the needle, we will need a diverse group of actors to Get In The Arena and for industry, government, NGOs, Philanthropy and citizens to collaborate in ways that may initially make some uncomfortable. We have already seen signs that this is happening and will continue to call for even more players to #GetInTheArena and help play a role in addressing the final frontiers of the digital divide.