Innovation for Impact: Perspectives from China on Reducing Inequality
On August 13th, Philanthropy in Motion and Yale Center Beijing held their annual Innovation for Impact Summit, bringing together leaders in social innovation and philanthropy in China. Centered on UN Sustainable Developmental Goal 10: Reduced Inequality, the summit was the culmination of Model Foundation, an 8-week venture philanthropy education program which targets high-achieving young people aspiring to magnify their social impact. Participants learned skills in venture philanthropy, evaluation, crowdfunding and design thinking in the context of managing a charitable fund.
At the summit, speakers showcased ways of using innovative new approaches in philanthropy, technology and business to solve age-old social problems of inequality, debating tricky questions that every changemaker needs to think about, such as how to balance financial returns with social impact or how to find the best approach to solving a problem. Speakers expressed insightful ideas on philanthropy, innovation and empowering the next generation.
In the opening introductions, Joyce Wang, Deputy Director of Yale Center Beijing, welcomed everyone to Yale Center Beijing and introduced the mission of the center. As an intellectual hub for thought leaders from all sectors, Yale Center Beijing has hosted more than 300 programs covering various topics since its opening in late 2014. She remarked that philanthropy is a big initiative that Yale supports wholeheartedly.
Jasmine Lau, Co-Founder of Philanthropy In Motion, followed with an introduction to her organization, which empowers young people with the funding, training, and networks to become mission-driven leaders and amplify their social impact. Through its programming, such as Model Foundation, PIM guides individuals through a comprehensive process of identifying their missions, investigating social issues, and leveraging collective resources to advance social innovation in China.
The summit began with a keynote speech from Peng Yanni, Secretary-General of Narada Foundation. With over 20 years of experience in the social sector, Peng gave an overview of Narada’s current and former initiatives to reduce inequality in China, and provided helpful advice to the next generation of changemakers: “Be true to yourself; be part of the solution.” She also concluded that social innovation, at its core, comes from the values of care and empathy, but can only have a meaningful impact if social entrepreneurs connect with their peers and persist in reaching their goals.
The “Big and Bold Bets for Reducing Inequality” panel centered around ambitious initiatives that are both big in scale, and bold in terms of their goals, which are innovative or game-changing. Elizabeth Knup, China Country Director of Ford Foundation, spoke about Ford’s plans to commit 1 billion USD of the foundation’s endowment funds to invest for social impact, as well as their aspiration that up to 25% of their grantmaking funds be focused on institutional capacity building for organizations. Julie Broussard, the Country Program Manager for the UN Women China Office, spoke about an effective process of making big bets that involves four steps: understanding the issues, scaling, partners (e.g., government and NGOs) and compelling messaging to widen impact. Wang Xingzui, Executive Vice President of China Foundation for Poverty Alleviation (CFPA), spoke at length about the internationalization of CFPA, and mobilizing public donations for bigger impact.
As Knup stated during the panel, big bets are “very big, it’s very public, and you don’t know if it’s going to work.” Nevertheless, the three speakers agreed that with the right approach, meaningful change could be ambitious, systematic, and game-changing. Each speaker emphasized the role of pilot projects in social innovation, stressing the concept of starting small then scaling up after demonstrated success. Wang spoke of the role of government collaboration in this process, and said regarding innovative programs, “Take it, pilot it, make it successful, and then show it to the government.” In addition, the speakers shared the importance of monitoring and evaluation in the scale-up process, whether it’s through an incentive program or independent reports. Ultimately, each speaker stressed that the process of making the world a better place is iterative. As Broussard stated, “We’re all in this together. We’re all human.”
During lunch, participants were given the chance to sit and network with speakers, as well as enjoy a music concert from “Yueweiai” (“Music for Love”). Formed by graduates of China Central Conservatory of Music and Autistic Group in China, “Yueweiai” is China’s first band with a social purpose, and aims to raise awareness for children with autism while engaging with them, their parents, and related charity organizations. Hanzhi Zhang, Founder of “Yueweiai,” presented the story of her band and performed several songs with Bai Cheng, a 19 year-old pianist diagnosed with autism. Zhang stressed the important role the four autistic members of her band have played in her life, and shared that her band has become a tight-knit family in addition to a performing group.
The afternoon’s “Millenial Impact: Balancing Mission and Money” panel featured four young entrepreneurs and founders of their own socially-driven organizations: Daniel Zhang from P8, Veronica Li from Raising Culture, Andrew Shirman from Education in Sight and Mantra, and Zhong Sheng from BottleDream. Speakers shared thoughtful advice for young people who are passionate about social causes, and discussed how to lead an impactful career that is financially sustainable and accomplishes social good. While Zhang stressed the importance of “love” and supporting others, Li emphasized life-long learning and “constantly building at each stage.” Each speaker shared the story of their organization and how they ended up where they are today, with Shirman remarking that, “any time outside of your comfort zone points you in a new direction and trajectory.” The four speakers agreed that balancing mission and money is easier said than done, but they have shown with their careers that it is possible for young people to become powerful social entrepreneurs. As Sheng remarked, “governments need time to react to new challenges; before then, individuals must be the pioneers of social progress.”
At the end of the summit, PIM announced the three recipients of the Model Foundation Fund, Smart Air, Easy Inclusion, and Xixi Garden, three innovative social organizations working to reduce inequality in China.
Livestream
To see the recorded livestream of the entire event, please scan or press the QR code below.
For more information about the summit and participating organizations, please visit www.pimchina.org and http://centerbeijing.yale.edu/ or follow PIM’s official WeChat: pimchina and Yale Center Beijing’s official WeChat: yalecenterbj.
About the Hosts
Philanthropy in Motion (PIM) is an internationally-recognized social enterprise that empowers millennials with the funding, training, and networks to become mission-driven leaders and amplify their social impact. We guide individuals through a comprehensive process of identifying their missions, investigating social issues, and leveraging collective resources to advance social innovation in Greater China. Combining world class curricula with an experiential learning approach, our education programs have empowered hundreds of young people to take a strategic, venture capital model to philanthropy, deciding how to best allocate funding and resources to impactful social ventures. Our partners include of World Bank to Peking University, and we have been recognized by Forbes, The Economist, and other news media for our work in the social impact space.
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Yale Center Beijing opened on October 27, 2014. As the first such center that Yale University has opened anywhere in the world, Yale Center Beijing is dedicated to developing leaders from all sectors of society and all regions of the globe.
