IMD Annual Report 2021

Special features 30

Pioneering research In addition to Research Fellow Patrick Reichert, an award-winning expert in the different approaches that investors use to finance impact, the elea Center recruited three Senior Fellows in 2021 to diversify its research into the impact economy. • Katherine Milligan , Director of the Collective Change Lab, will investigate how to create a new, more holistic frame for social entrepreneurship beyond the current limited scope of solving individual social problems. • Maximilian Martin , author of Building the Impact Economy , will conduct research to help business leaders navigate and embrace the emerging new order of business, finance and impact investing. • María Helena Jaén , Honorary Professor at the Universidad de Los Andes, International Professor at IESA and Adjunct Professor at the Miami Herbert Business School, will produce teaching cases and educational content on the economic, social and environmental impact of social entrepreneurs. Innovative learning experiences EMBA and MBA participants at IMD are offered the chance to learn about impact investing, ESG and social enterprises through modules that cover theory and practice, featuring presentations from investors, emerging market experts, activists and social entrepreneurs. To challenge their perspectives, for example, EMBA module projects are subjected to honest critique by young social and environmental activists, while a Discovery Expedition to Peru immerses participants in a “due diligence” fact-finding mission about social enterprises before making recommendations to impact investors. To read more about the elea Center for Social Innovation’s work in 2021, please see pages 54–55 of this report.

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How is impact investing defined in academic terms?

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EMBA Discovery Expedition to Peru