1. Finance from different planets What the social finance ecosystem looks like for social entrepreneurs Felix Oldenburg, Ashoka Strasbourg, 16 January 2014

2. 1 The challenge at the end of the pipeline

3. Success is not correlated with funding or legal model 2 Till Behnke Judy Korn Michael Gleich Attila von Unruh Gülcan Nitsch M. Richter- Werling Rama- zan Salman Hilde- gard Schooß Michael Stenger Katja Ur- batsch Rose Volz- Schmid t Rupert Voss Gregor Hack- mack Klaas Glene- winkel Jürgen Gries- beck Heike Schett- ler Joa- chim Körkel Norbert Kunz Sandra Schür- mann Stefan Schwall H. Came- ron M. Arm- bruster Bernd Gebert Heidrun Mayer Karin Ressel Marion Steffen s Murat Vural Gabri- ela Ender Chris- tian Hiss Ursula Sladek Falk Zientz Franz Dull- inger Andeas Hein- ecke M. Nach- trab Volker Baisch Claus Goll- mann Joh. Hengs- tenberg Mostly GrantsHybridMostly Investments Commercial legal form Commercial and nonprofit legal forms Nonprofit legal form

4. Growth finance from different planets 3 Social Entrepreneurs Impact Investors (hybrid debt, equity) Private Donors (donations) Banks (commercial debt) Foundations (grants, mission investments) Government (grants, subsidies) Corporate (any)

5. Thank you 4 Felix Oldenburg Director Germany/Europe Brussels foldenburg@ashoka.org Twitter: @foldenburg