So we've talked about companies creating impact through their employment practices, through their operations and supply chain. The fourth way I thought about companies creating impact is through their investments. So this is really about companies investing in other companies. A practice we may not think about all that often, but it's prevalent. So I know you've been thinking about this. And it's essentially companies impact investing in other companies. So what are examples that come to mind? >> So I think there are two ways that this manifests. One is investing in other companies, which I think as internal R&D budgets have diminished, more sort of corporate venture capital arms have arisen. >> Interesting. >> And so in this phase, we're seeing also impact of venture capital, corporate impact of venture capital funds being raised. We're also seeing more intrapreneurship and investment inside the company for innovation as well, which is quite interesting. >> So you're going to give us examples of each of those? >> I am. >> Okay. >> So the first one is a company, again, that I would not be thinking about an impact fund around, but Salesforce. >> Right. >> Right, the customer relationship management software platform. >> Right, big company based in San Francisco. >> Absolutely, and so they've actually recently raised a $50 million impact fund. And they've actually been investing in companies across workplace development, gender equality and investing, sustainability, and then kind of broader social sector development. >> Right. >> So I think one of their workplace development program, or companies, not programs, remind you, actually investing in companies, has been one where they're trying to match educational skills with jobs, but in real-time. >> Yeah. >> The key around what they're doing, though, again, sort of feeding their own bottom line at the same time, is all of these companies are Salesforce enabled. >> Right, right, yeah, so when we talk about the win-win, there is this interesting win-win, right? So to kind of recap, this is Salesforce investing in other companies that have a social impact mission and that are creating that social impact mission, or driving it, in part through the use of Salesforce technology. >> Correct. >> Right, so in theory, this is a really virtuous cycle. >> In theory, yeah. >> Yeah, yeah, and it's interesting because Salesforce has been, I think, quite explicit that they wanted to try this strategy for impact. We're putting our toe in the water, so they're rich enough that it's a big toe. But they're putting their toe in the water when it comes to impact investing. >> That's right. >> Right, so you had another company that you wanted to talk about, Campbell's Soup, I think. That has a different kind of investment strategy that is also an impact strategy and an impact investment strategy. >> Right. >> So talk to us about Campbell's Soup. >> So Campbell's Soup is employing more of an intrapreneurship model. And intrapreneurship is investing internally with employees to innovate, and that's considered intrapreneurship. So intrapreneurship is where companies provide resources and incubate new ideas. And then they are still able to take that to market, which is much like an external startup would, but this is happening within the company. >> Right. >> And so what I love about intrapreneurship, broadly, and especially in the social impact space, is that these startups within the companies are oftentimes challenging the way their parent companies think, how they operate and how they compete in the marketplace. >> Yeah. >> So I think Campbell's was seeing social impact as a competetive advantage in the marketplace. And so they empowered this group of employees to focus on tackling alleviating hunger, which is a big issue. You teach actually a lot on food deserts in your class. >> Right. >> And so they came up with a product, a new product line called the Soulfull Project. >> Yes. >> Which is a nutrient dense hot cereal. And so you're going to find that in your local grocery stores. But not only is the product itself impactful, I think because it's a more nutritious, healthier version of maybe a different type of hot cereal, they're also employing what we'll talk about later too, around a 1-for-1 model. >> Right, a buy one, give one. >> Buy one, give one. So when you purchase a serving of the Soulfull Project's cereal, they then donate to a food bank. They donate the same food to a food bank as well. >> Right. >> And so this is really interesting because the Soulfull Project is also Certified B Corp. >> Yeah. >> And so you're seeing Campbell's really kind of lead in this area. Innovating on social impact, creating products and services. And if sales are any indication of this, in their first year moving on to their second year, they are going to have ten times revenue. >> Wow. >> So it is a growing market for them. >> It's a growing market. So this is actually a company that began a subsidiary of Campbell's soup that began with employees' commitment to, can we do something to alleviate hunger and food insecurity? Created the Soulfull, and now that's part of a thriving company that is part of Campbell's Soup. >> Correct. >> Interesting example. >> Yeah. >> Great, thank you.
