ABN AMRO Belgium helps social entrepreneurs make a profit and an impact

One participant runs a farm that promotes creativity and co-creation. Another leases washing machines to people on low incomes. All those taking part in the Ashoka Impact Programme could be described as “idealists and entrepreneurial realists who aren’t afraid to make money,” says Solange Rouschop, CEO of ABN AMRO Private Banking Belgium.

Making a direct impact

ABN AMRO is one of the partners in this programme, which supports social entrepreneurs in every aspect of entrepreneurship – from finance and commerce to networking and professionalisation. The programme is an initiative of the Ashoka Foundation, which has been helping change makers all over the world achieve their goals for forty years. After a selection round, ten promising entrepreneurs are selected. Each of them is active in the areas of circularity or climate change. “Most of them represent small start-ups aiming to make a direct impact. But they also need a sounding board – someone who will give them input and pointers along the way,” Solange explains. “All the participants have a specific challenge they’ll be focusing on over the next four months.”

Investing in a better ecosystem

Over the course of the programme, the participants will be receiving individual support from coaches from Ashoka, Accenture and ABN AMRO to help them draw up their business plans, implement their organisational model or design their key processes. Eric Buckens of the ABN AMRO Social Impact Fund will also be giving a workshop on financing. Because of COVID-19, the workshop will most likely be held entirely online. “As a bank, we want to invest in a better ecosystem for social entrepreneurs,” says Solange, “because it’s an innovative form of entrepreneurship in which good business practices and social impact go hand in hand. It’s incredibly inspiring to make that happen.”

ABN AMRO Belgium

Partnering with the Ashoka Impact Programme is just one way ABN AMRO Belgium is contributing to a more sustainable society. Like its Dutch counterpart, the bank is deeply committed to sustainable investment. ABN AMRO Belgium’s private bankers have all completed a programme on SRI at Oxford and are now fully certified. In addition, the Antwerp and Ghent branches are both moving to more sustainable office space. Client events and internal meetings are also being used to increase general awareness of sustainability.

Making a difference together

This summer, a jury will be assessing the progress and projects of the ten participants in the Impact Programme. Solange, who also sits on the jury, says, “We’ll specifically be looking at how innovative and scalable the ideas are. We’ll also be asking questions like, does this concept lend itself well to large-scale implementation? How quantifiable is the impact? And, of course, do we believe in the entrepreneur and his or her business? “If the programme is a success, we may well introduce it in the Netherlands, Germany and France. But for now, it’s important that we help these social entrepreneurs be successful so they can go on to inspire others. If we succeed, we’ll have made a positive difference together.”

'ABN AMRO makes our coaching more complete'

“To save earth from climate change we need social entrepreneurs crafting innovative circular models and impactful solutions to build an inclusive and sustainable future”, says Perrine De Le Court, Director of Ashoka Belgium. “Social entrepreneurs often wonder: how can I ensure the sustainability of my organisation? How can I have more impact? How can I find the funding that best fits my business model? Through this cross-sector partnership with ABN AMRO we aim to maximise system-changing impact by fostering solutions in the field of circularity and climate change.” “By sharing their insights on financial issues and circular business models, ABN AMRO brings great added value to this programme. ABN AMRO’s involvement makes our coaching support much more complete and allows for different kind of solutions. We believe that this innovative way of collaborating between the corporate world and social entrepreneurs will bring new solutions to the societal challenges we are facing.”