GSIF09 SUMMARIES

Social Innovation Lab 6: Strategic Philanthropy: Can the Rich Save the World?  

Friday, 2 October  

• John Hope Bryant • Melissa Kwee • Jenny Santi

Facilitated by • Claire Ngo

  • Businesses engaging in “cheque book” philanthropy often have huge resources at their disposal, and while they are drawn to solving social problems, there are claims that transforming society in this manner might not be the right way to go, or the right thing to do

  • The important thing is realizing that in an age where people are now obsessed with the accumulation of wealth, the real wealth lies in the idea. The rich can only save the world if they focus not on being rich, but rather on helping the poor. They have to listen to people with ideas, because the supposed poor are the ones with the ideas for improving the lives of the less privileged. They are partners in change because they are rich in “spirit”.

  • It is important to let philanthropists find a cause that they want to invest in that come from the heart. Such people have all their material needs met, but are unfulfilled in other ways. In helping the world in this manner, they fulfil themselves. It is important to find out what philanthropists are looking to invest in before pitching one’s idea to them.

  • As people develop through life, they find areas where they want to be agents of change, where they can make an impact. However, in helping people, one has to realize there are often subtle underlying tensions that cannot be papered over with money, e.g., tension along religious and racial lines.

  • Empathy can only be developed in those who have experienced a loss of some kind. Hence, in setting up any social foundation, one has to think about how to get more people involved, building a collective bridge for humanity with those who already believe in one’s cause.

  • By finding out who is doing what, there can be a pooling of resources, a banding together to form a stronger voice for one’s cause. It allows one to learn from the efforts of others and develop synergies. It is also important to speak to power, people with the ability to effect change.

  • Giving is driven by the feel-good factor; however, it is okay to practice “good selfishness”, where one benefits, but others benefit more. In philanthropy, one has to keep a personal torch going. The organization also has to be run like a business or it will never have scale.

Download GSIF09 Social Innovation Lab 6 - Summary.