How Will Obama Deliver on Social Entrepreneurism Promises?
During his campaign, Barack Obama spoke at length about his commitment to accelerating social entrepreneurship in this country, including making sure the neccessary funds were available for new social ventures. A recent article in the San Francisco Chronicle explores this further, including:
Obama has pledged to create a Social Entrepreneurship Agency within the Corporation for National and Community Service, to generate more venture capital for socially conscious startups. The new agency would make it easier for small nonprofits to get federal grants, plus come up with a results-driven accountability system so government officials could make better decisions about which charities to fund.
Obama also wants to create a Social Investment Fund Network, which would steer private and government money to cities that identify innovative solutions to their most pressing social issues.
He estimates his ideas will cost $3.5 billion a year. He plans to pay for them through savings found by ending the war in Iraq and eliminating some corporate tax deductions.
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