Key Insights that we are still reflecting on from Fundación Corona's Participation in Latimpacto's "Standing Together" conference
Por: Daniel Uribe; Director Ejecutivo, Daniela Rivera; Coordinadora Territorial Educación y Empleo, Daniela Matíz; Líder de Comunicaciones
In an ever-evolving landscape of social impact and philanthropy, events like Latimpacto's "Standing Together" play a crucial role in fostering collaboration, sharing knowledge, and catalyzing change. At Fundación Corona we have seen this impact from the start of the network and we take a lot from our participation on the scenarios they open for us as an ecosystem. Specially on the anual conference they held this year, a transformative event, that is contributing to dynamic conversations and gaining valuable insights.
This year, Latimpacto was hosted on Río de Janeiro, Brazil.
We got really inspired and were able to connect with amazing new ideas. In this travel blog, we want to highlight three key learnings from our participation and emphasize the significance of such gatherings in developing relationships, getting inspired, and discovering innovations within the social ecosystem.
Understanding the Spectrum of Capital, key stars in the solar system
At "Standing Together," one of the most vital discussions revolved around comprehending the multifaceted nature and usage of capital in the social impact sector. This encompassed a wide spectrum, ranging from philanthropic funds to traditional banking institutions and everything in between. As part of the Red, we participated in two enlightening panels, each from different vantage points within this ecosystem that pretended to share our vision of impact. One of this was “Families that are Investing in Social Development in Latin America”, in which Antonio Echavarría, chairman of our Board of Directors, participated on behalf of the Echavarría family, and the other was a collective space where Daniel Uribe shared about best practices for de-risking Investments in Latin America.
Picture 1: 'Families Investing in Social Development in Latin America,' with Antonio Echavarría representing the Echavarría family. Picture 2: Daniel Uribe sharing best practices for de-risking investments in Latin America.
We saw how various players collaborate to leverage capital effectively. It was inspiring to see how foundations, corporations, government entities, family offices and grassroots organizations can work together to maximize their impact. By understanding the different roles within this ecosystem, we can create synergy and make the most of available resources.
Recognizing the Impact of a People-Centered Approach
A central theme of the event was the importance of embracing diversity and including new voices in the conversation. This involves engaging participants from territories and communities who possess firsthand knowledge of the impact of our actions. We learned that it is crucial to acknowledge the unique perspectives and insights these stakeholders bring to the table. By amplifying their voices and experiences, we can design more inclusive and effective social and environmental initiatives that resonate with the communities we aim to impact.
The Role of Philanthropy in Derisking Social Investments
"Standing Together" shed light on the role of philanthropic organizations as pioneers in derisking social investments. Philanthropic entities often have more flexibility and freedom in deploying resources for progress. This flexibility, combined with their capacity to experiment and learn from failures, can serve as a model for other actors in the ecosystem. From a legal perspective, philanthropic organizations can also help navigate complex regulatory landscapes, supporting the construction of new legal frameworks and influencing their development. In essence, they set the stage for innovations that benefit society at large.
When we seek innovative funding mechanisms and risk mitigation strategies it allows us to explore how various actors can contribute to derisking social investments, not just through financial support, but also by addressing legal and operational aspects of projects, providing technical assistance, designing effective tools, and piloting them. Sharing experiences and best practices in this area is pivotal to ensure investments achieve their intended social outcomes.
In Conclusion
Events like Latimpacto's "Standing Together" are not just gatherings of industry professionals; they are platforms for transformation. The interactions and shared insights in such settings can incite collaborations, inspire innovative solutions, and foster meaningful relationships. In a rapidly changing social ecosystem, it is urgent that we continue to participate in such events. As Fundación Corona, we are committed to this journey and look forward to continuing our role as a catalyst for positive change.
Discover more about our conclusions and reflections from this event in the Alliance Magazine article titled 'Reflections from the Conference: Living Latimpacto’s Rhythm', by Daniel Uribe.