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The Study of Venture Philanthropy Model
double bottom line
Research Purpose The emergence of venture philanthropy and its flourishing development bring opportunities for the social enterprise to create value. It’s already a decade since the initiation of venture philanthropy and the range has been broadened from the USA to Europe and Asia. The government policies in different countries have been changed from giving subsidies to making investments. The strategies have been developed from the point of making donations to starting an enterprise. The theme has become social enterprises instead of nonprofit organizations. Still, there is still no clear operation model to follow. Based on this, the research aims to set up a model for venture philanthropy. There are three purposes of this research. First, an overall development path is expected to be presented through examining the emergence, the process, and the current situations of venture philanthropy in different countries. Second, from the viewpoint of ownership, this research explores the organization types and double bottom line of social enterprises and the operation and governance of venture philanthropy. Some strategies of venture philanthropy are analyzed. Third, a concrete model for venture philanthropy is set up. In addition to giving venture philanthropy a doctrinal position and opening up a proactive research field, this research also hopes to provide references for the policy makers and practice organizations. Research Method This research took in-depth interviews and Delphi technique as the main research methods. The in-depth interview was conducted through two stages. There are 17 interviewees in total. At the first stage, 7 interviewees were interviewed and all these seven interviewees are social enterprises which had been funded by the government. At the second stage, the interviewees included the venture philanthropy, the practitioners and government officials. The survey through Delphi technique was conducted to and fro twice. The research tool is based on the literature review and interview results and is designed according to the organization type and the double bottom line object. There are 17 members in total in the panel and their backgrounds are venture philanthropy and social enterprises practitioners. Research Findings Overall, venture philanthropy is wavering between two ends of the spectrum, one of which is society and the other is economy. The position of policies is still vague. There is a perception gap between social enterprises and venture philanthropy. Though the gap might lead to the higher cost for the cooperation, at the same time it means there is still space for the diverse development of venture philanthropy. In the aspect of goals and strategies, venture philanthropy focuses on the marketing, and instead nonprofit organizations emphasized individual developing needs. As for the governance of corporations, the different types of organizations may increase the cost of investment. Accountability mechanisms may be established to have effective supervision and the Board should hold pluralistic and participative attitudes to attract professionals from different fields. This research proposes four principles for venture philanthropy. They are: 1.Accountability is a rational choice to balance venture philanthropy and social enterprises. 2.The cooperation among different types of organizations may increase the cost. 3.The involvement of venture philanthropy relates to the considerations of cost. 4.Proper institutional design can reduce the risk of information and recognition. On the basis of venture philanthropy principles, this research constructs four models of venture philanthropy and they are quasi-venture capital, type of impact-based investment, type of mission-based investment, and type of capacity building.
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