| Notes |
There is a growing sense among entrepreneurs, investors, philanthropic and corporate leaders that the traditional ways of doing business aren’t the only ways of doing business. As we struggle to address intractable social and environmental challenges and people increasingly consider how well their spending and investments align with their values and with the values of a new generation, new business and investment models have arisen. What is emerging is what can be called the impact economy—a new ecosystem built on the notion that there is both economic and social impact to be found in the ways in which we address the challenges facing our communities and organizations. Proponents describe it as seeking to “unlock greater amounts of private capital to do public good...” and “creating shared value.”
What Does This Mean for Greater Philadelphia?
We are seeing increased interest in this burgeoning impact economy—globally, nationally, and here in Greater Philadelphia. Impact investors and entrepreneurs in Philadelphia are driven by the belief—and increasingly the evidence—that it’s possible to put private capital
to work to achieve positive social and environmental
outcomes and generate financial returns in the process. But if Philadelphia is to be a leader in this new approach, we need to create an organization that helps to support, connect and amplify the work underway in Philadelphia’s impact economy ecosystem.
Prepared for the Greater Philadelphia Impact Economy Initiative by the Economy League of Greater Philadelphia in collaboration with Ben Franklin Technology Partners of Southeastern PA.
Printing of this report was graciously provided by CRW Graphics.
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