SoCap08 has officially ended.  After three days of keynote speeches, panel discussions, breakout sessions, and networking conversations, attendees now head back to their respective organizations, armed with new insights, tools, and contacts.

SoCap08 was the first of its kind.  Never before had so many social investors and entrepreneurs gathered in one place to explore the possibilities of social capital markets.  The energy level at the Fort Mason Center was high for the entire event.  Many of the attendees were relatively new to the field, while others had been at it for years.  Jed Emerson, one of the first to speak and write about social capital markets, was clearly ecstatic that the field had grown to a level that a major conference was even possible.  SoCap08 was that rare kind of gathering that I think attendees will look back on years from now and consider a turning point or catalyst for the development of the field.

SoCap08 has informed my work at Great Bay by providing me with new perspectives on the field, its opportunities and challenges.  However, perhaps even more important than the knowledge I’ve gained are the contacts I’ve made on behalf of Great Bay.  I plan to strengthen these connections as time goes on.

The theme of SoCap08—the “intersection of money and meaning”—is relevant to the Great Bay Foundation on two important levels.  First, we insist that all of our grantees utilize money (i.e. earned-income) to achieve meaning (i.e. social impact).  As an organization, we believe strongly in the power of business as a tool to achieve social change.  I’ve learned that we’re not alone in this belief.  Second, as we look to the future, we recognize the potential impact that can be achieved by expanding the range of “tools” we use.  By utilizing social and mission investments in addition to grants, we can go even further in operating at the intersection of money and meaning.  We certainly wouldn’t be the only social investors in the space.

I’ll end this blog post, as well as my reports from San Francisco, with one final thought.  During a panel discussion on Tuesday one of the panelists mentioned that his organization invests in independent newspapers in emerging democracies.  He spoke of how important this work is to the future of these countries.  This is a good example of how a business investment can have a positive impact on a community and, in turn, people’s lives.  With all this talk about business and investing, it is important not to lose sight of what really matters.  We see business as a means to end.  It is a tool to achieve the ultimate goal—social impact.