US-ATMC (EE402T) Seminar

Topic: 
New Trends in Social Entrepreneurship in India: The Bombay Hemp Company, Ltd. (BOHECO)
Tuesday, May 24, 2016 - 4:30pm to 5:50pm
Venue: 
Skilling Auditorium
Speaker: 
Panel Discussion
Abstract / Description: 

"New Trends in Social Entrepreneurship in India: The Bombay Hemp Company, Ltd. (BOHECO)"

Panel Discussion:

  • Sanvar Oberoi, Director of Finance & Digital Technology, Bombay Hemp Company
  • Radhika Shah, Co-President, Stanford Angels and Entrepreneurs and Advisor, Sustainable Development Goals Philanthropy Platform

One of the outcomes of the United Nations Conference on Sustainable Development (Rio+20) in 2012, was a set of 17 Sustainable Development Goals, which were officially signed by the UN heads of state and high representatives on September 27, 2015. The SDG Philanthropy Platform (sdgfunders.org), launched by the UN Development Program, Foundation Center, and the Rockefeller Philanthropy Advisors, brings hundreds of foundations and philanthropists across many countries to create new partnerships to increase funding and create programs that will have greater, and more sustainable, impact on people's lives. Of course, the achievement of the SDGs itself must reflect sustainable processes, and so Ms. Shah will also discuss new platforms of social entrepreneurship in India, e.g. "Fourth Sector" for-benefit corporations.

One example of a company targeting an SDG is the Bombay Hemp Co., Ltd. (BOHECO), India's first Industrial Hemp and Medicinal Cannabis company. BOHECO aims to reform the agriculture industry and uplift socio-economic standards of local farmers in India. They work with local industry and farmers to manufacture and innovate agro-products for pharmaceutical, construction, energy, paper, food, textile, lubricants, automobile, oil and cordage industries from the industrial hemp crop and now are working to use this model pan-India for poverty alleviation, empowerment, and rural development.

India has long been a recipient of philanthropic approaches and also for-profit companies that target "bottom of the pyramid" markets; this session will provide insights into the most recent dynamics and regulatory system refinements in India that may serve as a model across various developing economies.