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Toby Eccles: Invest in social change

Toby Eccles: Invest in social change

toby eccles

 

Here’s a stat worth knowing: In the UK, 63% of men who finish short-term prison sentences are back inside within a year for another crime. Helping them stay outside involves job training, classes, therapy. And it would pay off handsomely — but the government can’t find the funds. Toby Eccles shares an imaginative idea for how to change that: the Social Impact Bond. It’s an unusual bond that helps fund initiatives with a social goal through private money — with the government paying back the investors (with interest) if the initiatives work.

Toby Eccles has created a radical financial instrument that helps private investors contribute to solving thorny public problems.

 

WHY YOU SHOULD LISTEN TO HIM?

 

All too often, an ex-inmate walks out of prison with the exact same problems he or she walked in with: lack of skills, lack of support, no job. And they end up re-offending and back in jail. It’s an expensive problem to fix, but it’s a much more expensive one to ignore. A director at Social Finance in London, Toby Eccles explores the arbitrage between those two options.

 

In 2010, his pioneering Social Impact Bond allowed private investors to support a UK program targeting ex-prisoners who served short sentences (the limited government funding only goes to ex-inmates who served long terms). The £5m scheme, funded by 17 investors, supports training and support for 1,000 ex-inmates; if they re-offend less than a control group, the government will pay investors back, plus interest, through the savings accrued by achieving the program’s targets.

 

More such bonds are now being tried across the world, including in New York City and Massachusetts (both addressing recidivism), and extended to new fields such as development. Eccles founded Social Finance in 2007, and he oversees all of the firm’s social impact bond work, where, he says: “We are incentivised to work with the complicated and with those willing to change.” “We are incentivised to work with the complicated and with those willing to change.”

 

Geraldine Hamilton: Body parts on a chip

Geraldine Hamilton: Body parts on a chip

 

 

It’s relatively easy to imagine a new medicine, a better cure for some disease. The hard part, though, is testing it, and that can delay promising new cures for years. In this well-explained talk, Geraldine Hamilton shows how her lab creates organs and body parts on a chip, simple structures with all the pieces essential to testing new medications — even custom cures for one specific person. (Filmed at TEDxBoston)

Geraldine Hamilton builds organs and body parts on a chip — to test new, custom cures.

 

WHY YOU SHOULD LISTEN TO HER?

 

Geraldine Hamilton’s career spans from academic research to biotech start-ups to pharma. Her research focus has been on the development and application of human-relevant in-vitro models for drug discovery. She was one of the founding scientists, VP of Scientific Operations and Director of Cell Products, in a start-up biotech company (CellzDirect), that successfully translated and commercialized technology from academic research to supply the pharmaceutical industry with hepatic cell products and services for safety assessment and drug-metabolism studies.

 

Hamilton received her Ph.D. in cell biology/toxicology from the University of Hertfordshire (England) in conjunction with GlaxoSmithkline, followed by a post-doctoral research fellowship at the University of North Carolina. Her current research interests and prior experience include: organs on-a-chip, toxicology and drug metabolism, liver cell biology, mechanisms regulating gene expression and differentiation, regulation of nuclear receptors and transcriptional activation in hepatocytes by xenobiotics, human cell isolation and cryopreservation techniques.

The secret to satisfied employees is… : Wolter Smit

The secret to satisfied employees is… : Wolter Smit

Wolter Smit states that a lot of companies lack trust. They rely on payback instead of paying forward this creates inefficiency. “Trust is oil in the transaction machine” He gives us a recipe for success: Select the right people for your ‘neighborhood’ and create an atmosphere of trust.

Bonnie and Michael Hartley on “Fire Drills for Family Businesses”

Bonnie and Michael Hartley on “Fire Drills for Family Businesses”

“Fire drills” can help a family-in-business to prepare for abrupt and unexpected challenges.

 

Discussion | Homeless Billionaire | Oxford Union

Discussion | Homeless Billionaire | Oxford Union

Nathan Gardels, Lord Anthony Giddens and Nicolas Berggruen field questions from the Oxford Union.
Filmed on Monday 5th November 2012

ABOUT ‘INTELLIGENT GOVERNANCE FOR THE 21st CENTURY: A MIDDLE WAY BETWEEN WEST AND EAST':
As the 21st Century unfolds, both of these core systems of the global order must contend with the same reality: a genuinely multi-polar world where no single power dominates and in which societies themselves are becoming increasingly diverse. The authors argue that a new system of “intelligent governance” is required to meet these new challenges. To cope, the authors argue that both East and West can benefit by adapting each other’s best practices. Examining this in relation to widely varying political and cultural contexts, the authors quip that while China must lighten up, the US must tighten up.
This highly timely volume is both a conceptual and practical guide of impressive scope to the challenges of good governance as the world continues to undergo profound transformation in the coming decades.

ABOUT THE OXFORD UNION SOCIETY:
The Union is the world’s most prestigious debating society, with an unparalleled reputation for bringing international guests and speakers to Oxford. It has been established for 189 years, aiming to promote debate and discussion not just in Oxford University, but across the globe.

 

Three New Networks for the Digital Age

Three New Networks for the Digital Age

Lynda Gratton, London Business School professor, suggests ways to stay connected in an increasingly mobile world.

PwC: Luxury hotels overview

PwC: Luxury hotels overview

Liz Hall, head of hospitality and leisure research at PwC, recently commented on the London luxury hotel market. This year saw the UK’s largest room supply increase from new developments in the last decade. In London, the 2012 Games catalysed development on a scale unlikely to be seen again.

 

Baby Boom Bump, Jobs Crisis Ignored

Baby Boom Bump, Jobs Crisis Ignored

Dec. 7, 2012 (Bloomberg) — Bloomberg’s Tom Keene, Scarlet Fu and Sara Eisen recap the op-ed pieces and analyst notes providing insight behind today’s headlines. They peak on Bloomberg Television’s “Bloomberg Surveillance.”

 

Ernesto Sirolli: Want to help someone? Shut up and listen!

Ernesto Sirolli: Want to help someone? Shut up and listen!

When most well-intentioned aid workers hear of a problem they think they can fix, they go to work. This, Ernesto Sirolli suggests, is naïve. In this funny and impassioned talk, he proposes that the first step is to listen to the people you’re trying to help, and tap into their own entrepreneurial spirit. His advice on what works will help any entrepreneur.

Ernesto Sirolli got his start doing aid work in Africa in the 70’s — and quickly realised how ineffective it was.

WHY YOU SHOULD LISTEN TO HIM:

Ernesto Sirolli is a noted authority in the field of sustainable economic development and is the Founder of the Sirolli Institute, an international non-profit organization that teaches community leaders how to establish and maintain Enterprise Facilitation projects in their community. The Institute is now training communities in the USA, Canada, Australia, England and Scotland.

In 1985, he pioneered in Esperance, a small rural community in Western Australia, a unique economic development approach based on harnessing the passion, determination, intelligence, and resourcefulness of the local people. The striking results of “The Esperance Experience” have prompted more than 250 communities around the world to adopt responsive, person-centered approaches to local economic development similar to the Enterprise Facilitation® model pioneered in Esperance.

 

Sir Martin Sorrell on The Changing World | Oxford Union

Sir Martin Sorrell on The Changing World | Oxford Union

Sir Martin Sorrell talks about the changing world, the advancement in new technologies and the shifting of the worlds economy.