Widget Envy at SoCap 2011

Parag Gupta
Founder, Waste Ventures

By widget envy of course, we refer to the idea of producing an easily understood product or even service.  While sane entrepreneurs create something with a clear beneficiary, product development strategy, marketing, P&L, etc., the panelists including myself were trying to change a system using a market-based approach that often involved a beneficiary that may be the consumer or producer (or both), a government entity, and perhaps a couple of partners to help facilitate change.  As such, we were fairly envious of our fellow entrepreneurs selling solar lights, eco-friendly cook stoves, and the like. 

I of course am being a bit flippant (any BoP entrepreneur worth the flip flops on his or her feet understands that the distribution strategy and/or behavioral change required is no easy task – all I am saying is try dealing with government on top of that)!  Our argument on the panel however echoes back to my blog several months ago about how complex problems (like local energy, conservation, or solid waste management) require complex solutions to achieve tremendous impact.  

If you like what we are doing as systems change at Waste Ventures, definitely check out the organizations of my insightful fellow panelists: Ecologic Development Fund, First Power, and Water.org!

During SoCap week, Waste Ventures/ Waste Capital Partners was also fortunate to be covered on NextBillion and Business Outlook India - providing a great snapshot of our progress to date – and the miles we have to go!  

SoCap has become a pillar of the social enterprise/ impact investing conference circuit and a great place to connect with partners, funders, and friends from around the world.  This year, it felt like there were a lot of nascent impact funds chasing High Net worth Individuals (and us entrepreneurs chasing everyone).  I’m a bit perplexed by the multiplication of funds.  There are only about 40 to 50 people in this space I would trust to invest in the BoP space either as former entrepreneurs/ operators themselves or have just learned through investing in several deals.  If one of these people isn’t on the team, I would have to think twice about working with them.  

Of course, much like the Skoll World Forum, we have the ‘Davos-ization’ of the event where as much of the action happens outside of the conference in private events (still no late nightcaps at the Piano Bar… yet;).  Needless to say, I spent many a conversation feigning like I knew about this or that happy hour.

Key highlight for me – hearing Van Jones speak in person.  It was refreshing to hear a charismatic voice speak honestly and rationally about issues with great soundbites to boot: "Companies that are too big to fail?  What about communities that are too big to fail?  Or schools that are too important to fail?"

Until next year!