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Hybrid Social Enterprises
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  1. Hybrid Social Enterprises Charly Kleissner, Ph.D. charly@kleissner.com Co-Founder, KL Felicitas Foundation May 16th, 2006 Hybrid Social Enterprises

  2. Hybrid Business Model Hybrid Social Enterprise In-Kind Equity Consulting Brand Intellectual Property R&D For-ProfitEntity Not-For-Profit Entity R&D Consulting Profit Sharing Liquidity Events Hybrid Social Enterprises

  3. Hybrid Business Model Hybrid Social Enterprise:Governance For-Profit BOD Not-For-ProfitBOD For-ProfitEntity Not-For-Profit Entity Hybrid Social Enterprises

  4. Hybrid Business Model • Why? • To attract different types of capital / investors • To partially subsidize services / products • To invest in basic research • To prepare immature markets • To leverage both legal structures, while not being boxed into only one Hybrid Social Enterprises

  5. Case Study: Biomass Electrification in Rural Sri Lanka Hybrid Social Enterprises

  6. Case Study: Biomass Electrification in Rural Sri Lanka Hybrid Social Enterprises

  7. Case Study: Biomass Electrification • Village Societies: • Organizational Development • Training • Reforestation Program: • Training • Management • Partial subsidy of tariffs • Biomass: • Project Management • Project Planning • Installation • Training • Maintenance In-Kind Equity Consulting Flowing Currents Ltd. Aspira Profit Sharing Liquidity Events Hybrid Social Enterprises

  8. Hybrid Investment Strategies • Social Investors • Foundations • Social Investors • Foundations • Social Venture Funds • Banks • Social Investors • Foundations • Social Venture Funds • Banks • Governments • Corporations • Banks • Governments • Corporations • Etc. High Grants Social Loans Grants Social Loans Commercial Loans Invest- ment Risk Grants Social Loans Commercial Loans Government Loans Equity Commercial Loans Government Loans Equity Low Seed Start-Up Early Expansion Late Expansion Enterprise Life Cycle Hybrid Social Enterprises

  9. Hybrid Investment Strategies Investors Banks: * Commercial Loans * Equity Social Investors: * Equity Foundations: * Mission Related Equity Foundations: * Social Loans (PRI) Social Venture Funds: * Social Loans Social Investors: * Grants Foundations: * Grants For-Profit Entity Not-For-Profit Entity Entities Hybrid Social Enterprise Hybrid Social Enterprises

  10. Case Study: Biomass Electrification Local Bank: Commercial Loan Social Investors: Equity Aspira: In-kind equity Social Venture Fund: Social Loan Investors Social Investors: Grants Foundations: Grants Flowing Currents Aspira Entities Hybrid Social Enterprise Hybrid Social Enterprises

  11. Conclusion • Define mission of social enterprise, then implement best legal structure to support the mission, not the other way around. • Hybrid structure is appropriate if you • Need to/want to attract different types of capital/investors • Need to/want to partially subsidize services / products • Prepare immature markets • Invest in basic research • Examples: Flowing Currents, World Of Good, IDE-I, CBI, etc. • Watch out for • Governance and leadership issues • Clear value proposition for different types of investors • Need to work on business model templates Hybrid Social Enterprises

  12. Hybrid Social Enterprises Charly Kleissner, Ph.D. charly@kleissner.com Co-Founder, KL Felicitas Foundation May 16th, 2006 Hybrid Social Enterprises