For meeting the Sustainable Development Goals by 2030, an enormous boost in innovation capacity is required. Even as assets under management (AUM) of impact-focused investors have increased from 500 to 700 billion US$ in the last 2 years, the supporting infrastructure for investable solutions has lagged.
Industry sources added that the innovation programs offering structured training as well as the plans are a valuable way to ignite and nurture impact enterprises that can grow to scale. However, many of these lack deep business advisory support that can help enterprises navigate the complexity of social challenges.
For bridging these requirements, Dalberg, a leading social impact advisory group has acquired Ravel Innovation, a Singapore-based firm that designs, builds, and runs an ecosystem of innovation communities and corporate innovation programs, to help clients broaden and deepen their impact globally.
Industry sources added that this latest offering will amalgamate the expertise of both organizations and reinforce Dalberg’s prospects to aid the governments, NGOs, progressive corporations, and funders to drive innovation toward meeting the SDGs.
As an outcome of this acquisition of Ravel, the teams will be proficient to aid the clients across the innovation spectrum, comprising the building and running in-house incubators/accelerators; running innovation processes for specific problem statements; aiding the young social enterprises to effectively scale; building innovation platforms and, more broadly, helping investments in innovation be more socially impactful.
Gaurav Gupta, Partner and Regional Director for Asia, Dalberg Advisors stated: “We see tremendous value in bringing Ravel’s expertise to our clients who are seeking to unearth and scale innovative ideas for addressing the most pressing development challenges. The acquisition allows us to meaningfully engage with risk-takers looking to make a real dent in the challenges of today and the future. Importantly, the two organizations share a common ethos of keeping social impact at the center of the problem statements we take on.”
Grace Sai, Founder, and Director, Ravel Innovation stated: “Over the past 10 years, since I started Impact Hub Singapore back in 2012, I have seen how social and environmental citizenship has evolved amongst our corporate and governmental clients – from an afterthought to a core belief, from maximizing shareholder value at all costs to optimizing for total stakeholder responsibility. As the first Google for Startups partner in Southeast Asia, our community has grown to over 28,000 innovators. I am beyond thrilled for Ravel to join the Dalberg global family and be able to extend our services and impact to an even wider audience.”