by: Alexander Osterwalder
Today I did a webcast with Etienne Eichenberger, co-founder of WISE (and formerly at the World Economic Forum WEF), to talk about his fascinating start-up.
WISE stands for "Wealthy Individuals and Social Entrepreneurs" and has a really interesting business model. As the name indicates the organization connects wealthy individuals that want to "invest" in a social cause with social entrepreneurs that manage interesting projects. What I find fascinating about WISE is that it is a commercial organization with a social goal, which seems to leverage the best of the private and the development sector (e.g. due dilligence, key performance indicators, etc.).
Personally I am fascinated by Etienne's organization because it combines the sector I have worked in (health & development) and the sector I am working in now (wealth management). His company seems to satisfy the rising demand for venture philantropy, which is rapidly becoming an indispensable part of the offer of private banks and wealth managers.
I wish Etienne and his team good luck with his venture. I am convinced he will make a difference in the health & development sector and at the same time satisfy the social needs of wealthy individuals. Quite impressive!