ISB holds Asia round of GSVC to boost social ventures

According to ISB, the competition worked as an international forum for exceptionally bright students and entrepreneurs with path breaking social venture ideas. Two teams have been selected to represent Asia at the Global Finals which will be conducted in Berkeley at the Haas School of Business in April 2009. Aimed at a global audience, the platform brings together business schools across the world to support the creation of social ventures. The winning teams in the competition were Pioneer Healthcare from ISB and Ummeed from SP Jain Institute of Management & Research (SPJIMR), Mumbai. 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. GSVC is expected to be a powerful force in helping young people to come up with viable alternatives that will benefit humanity, says ISB.Pioneer Healthcare The business plan presented by the ISB team proposes building a network of hospitals in a hub and spoke model, combining best medical facilities and knowledge, augmenting each other to provide effective primary healthcare in rural areas. This high-volume low-cost model emphasizes maximum resource utilization. The total initial investment for the project is estimated to be USD 3.8 million with a return of investment of 36.11 percent over five years. The other winning team was from SPJIMR, Mumbai. Its business plan - Ummeed - aims to address hygiene and reproductive health issues of low-income rural women by providing biodegradable sanitary napkins that are economical. The team selected for Best Social Impact Assessment was the ISB team Art is an Art. It proposes to promote handicrafts through providing design support and market access to rural artisans thus ensuring higher income.The ISB received 50 business plans from five countries India, China, Taiwan, France, and Hong Kong. Seventy finalists from Asia were drawn from twelve B- Schools across these countries. ISB, Hyderabad; NMIMS, Mumbai; IIM Indore; SIESCOMS, Mumbai; SPJIMR Mumbai; BITS, Pilani; were amongst the schools that are participating from India. While commenting on proceedings of the Global Final, ISB adds, Twelve teams will be participating in the Global Finals conducted in Berkeley at the Haas School of Business in April 2009. The winning three teams at the global final will be awarded US $25,000 to start the venture. The plans that demonstrate the highest potential for feasibility, profitability, sustainability, and measurable social impact will be selected.