Social Innovation

According to the World Health Organization, 25 percent of medicines consumed in developing countries could be counterfeit or substandard. A $200 billion industry, counterfeit drugs cost little to manufacture and clearly result in huge profits.

This week President Obama announced the appointment of Cecilia Muñoz as Director of the Domestic Policy Council at the White House. Ms. Muñoz, in her new role, will oversee policy-making on a range of domestic issues, including education, energy and health care. "Over the past three years, Cecilia has been a trusted adviser who has demonstrated sound judgment day in and day out," Mr. Obama said in a statement. "Cecilia has done an extraordinary job working on behalf of middle-class families, and I'm confident she'll bring the same unwavering dedication to her new position."

Having kids and becoming a social entrepreneur were both decisions born of passion, not logic. I walked away from a high-paying “big law” job to launch City Hall Fellows, then got pregnant with my first child a few months later. (Not a combo I’d recommend.)

For years, I had unfulfilled desires that converged in this unique opportunity: live in India, pursue social enterprise and experience the challenges and impact of a start-up. The choice was one that some considered brave and ambitious and others considered irresponsible and foolish. When I moved to India, I discovered that this fine-line was the first of many.

These days, a lot of us talk big about failure: "Embrace it; share it; learn from it!" Funders (or at least some) are pushing for more transparency so that money can be allocated more effectively. Young people are beginning to take more risks, some that may lead to some big fails, to help find a career with meaning. FailFAIRE takes the notion of "learning from your failures" to a whole new level.

A few weeks ago we asked you to name your personal theme song. The response was overwhelming. Some of you told us the tracks you relied on during dark hours, others the song that exemplified your path, and others the MP3s that made a long journey just fly by. We were so impressed with your input that we wanted to share some of our favorite responses. Take a listen and be sure to add the title track on the soundtrack of your life in the comments.

You can tell you’re going to have “one of those days” pretty early on. Before 9 AM, I had forgotten to bring shorts to the gym (so I worked out in pants), forgotten my cell phone charger (and my phone ran out of battery as soon as I got to work) and as I got ready to make my morning coffee, I spilled the grounds all over the kitchen (when that all happens before 9 AM, you should probably go home and start over).

Unlike traditional investing, which, at its core, primarily seeks to employ financial capital to generate a financial return, impact investing strives to create “blended value”—positive and simultaneous social, environmental, and financial value creation.

We're gearing up for this year's Fellowship selection cycle. On Monday, December 5, 2011, we'll open up the 2012 application process. For all you budding social entrepreneurs out there, you'll have until January 9, 2012 to submit your social change business plans. We love this time of year—we get so inspired by the passion, commitment and visionary thinking expressed through the fellowship applications. So bring it!!!

Congrats to the thirty social entrepreneurs featured in Forbes’ Impact 30 list of the world’s leading social entrepreneurs. Echoing Green is thrilled to see six of our Fellows as well as board member Andrew Kassoy on the list of leaders in social change.