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Firms look at open source for CSR ideas
By siliconindia
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Tuesday, 23 September 2008, 16:31 IST
New Delhi: Open source is getting importance among most of the companies as it is helping them in their corporate social responsibility (CSR) initiatives. Companies are seeking help of social entrepreneurs in putting their ideas on the ground. They are encouraging innovators through different strategies such as showering prizes, sponsorship and linkages with industry and other stakeholders.
Presently, open source social innovation forums are generating enormous solutions from different part through various strategies. For instance, Ashoka Changemakers, a program which is churning out great ideas and working models, so far has attracted over 3,500 solutions from more than 125 countries through theme-based contests. Companies like Nike and Coke have been sponsoring such contests intending to make use of the ideas and models discovered through these contests in their own social responsibility initiatives across the world.
Similarly, Citibank, has recently launched a global competition called 'Banking on Social Change: Seeking Financial Solutions for All', which is being organised by Changemakers. Sanjay Nayar, CEO, Citi India, said, "We believe this competition can help us discover new and exciting financial solutions and methods that have the potential to both improve and transform traditional banking offerings."
Earlier, three Indians won the contest on drinking water access sponsored by Global Water Challenge and Coca-Cola. Paul Faeth, Executive Director, Global Water Challenge said that the y had received 265 entries from 54 countries for the water project.
"The funding from the Coca-Cola company will provide resources to test one or more of the most promising innovative approaches presented through the competition. We also hope that this funding will stimulate interest from other investors and philanthropic organizations to support more of the proposals presented," said Lisa Manley, Coca-Cola Environmental Communications Director.
Moreover, firms such as NGO Resource Alliance, Bill & Melinda Gates Foundation are also conducting contests to discover innovative ideas and solutions. Youth Action Net, launched in 2001 by the International Youth Foundation and Nokia has selected 140 social entrepreneurs, with over 4,000 applications received.