1. No category

2015
Welcome
Kit
SUREN G. DUTIA AND JAS K. GREWAL
GLOBAL IMPACT AWARD
Supporting the vision and passion of Washington University in St. Louis
students, postdoctoral researchers, and young alumni
who create scalable and sustainable ventures that have large global impact
About the Award
Thank you for your interest in the Suren G. Dutia and Jas K.
Grewal Global Impact Award. The award was founded in 2013
to support the vision and passion of Washington University in
St. Louis students, postdoctoral researchers, and young
alumni who are impacting world societies, including those
people who have the least.
This award, provided by and named for Washington
University alumnus Suren G. Dutia and his wife Jas K. Grewal,
recognizes Washington University students, post-doctoral
researchers or recent graduates who create scalable and
sustainable ventures that have large global impact. The goal
of the award is to invest in individuals and high-growth
entrepreneurial ventures that apply technology for
developing solutions that spur economic growth and
catalyze social change.
The donors recognize that Washington University students and young alumni are making a significant difference
around the world, particularly in those communities considered to be economically and socially disadvantaged,
by utilizing technology to develop solutions creating scalable, sustainable, potentially high-impact ventures
capable of addressing significant challenges. With this award, the donors intend to provide Washington
University students and recent alumni from any Washington University undergraduate, graduate, or
professional school with financial, mentorship, and relationship resources that accelerate the growth of highimpact ventures and/or utilize technology to address significant social challenges. For more information about
the donors, see their bios on page 7.
The donors intend for this fund to be utilized in perpetuity to inspire an interdisciplinary expansion of
entrepreneurship and innovation at Washington University. It is the strong desire of the donors that recipients
be encouraged and motivated to give a portion of their future earnings or to offer venture equity designated for
the Suren G. Dutia and Jas K. Grewal Global Impact Award so that others may also benefit from similar
assistance through future contributions of resources and through growth of this fund.
The award provides this support to selected teams to help them achieve their highest potential. The process
provides much more that funding; through the experience entrepreneurs learn and develop their personal
networks as well as their world-changing ventures.
For information about the donors’ gift and the announcement of the award, see the Washington University
Record article in Appendix A. This welcome kit will provide an overview of the process and will help answer any
questions you may have. We are excited to present this opportunity and wish success to all who enter!
Overview
The donors believe that Washington University students, scholars, and alumni have the knowledge and skills to
address the world’s most pressing problems. Along with that ability, they believe entrepreneurs succeed
because of opportunities including education, mentoring, and access to capital, and that entrepreneurs have an
obligation to give back in appreciation of their opportunities. (See Appendix B, “Entrepreneurship – Completing
the Circle,” by Suren Dutia as well as Suren’s remarks at the 2014 Award Ceremony in Appendix C.)
The goals of the Dutia and Grewal award therefore include:
• Supporting teams whose inventions, products, ideas, and business models have global and lasting impact on
society including disadvantaged groups
• Developing a community and knowledge that helps future awardees and others engage in high impact
entrepreneurial activity
• Promoting collaboration that supports understanding about the practical application of high impact
approaches
• Developing entrepreneurs through financial and mentoring support who find solutions to the world’s most
intractable problems
• Identifying entrepreneurs who are committed to giving back to help others
Deliverables and Submission Dates
The first deliverable is an Opportunity Summary due by Noon Monday, June 15, 2015, St. Louis time. The
Selection Committee will review the submissions and announce the finalists on Wednesday, July 15. Finalists
will then begin an intensive training and mentoring period to advance their ventures. The final deliverables are
a written Impact Summary and oral Final Presentation, due in late October. For additional information and
deadlines see the timeline on page 4.
Eligibility
To be eligible to receive the award, the founding team and venture must meet the following criteria:
The founding team:
•
•
must include one or more of the following: a current Washington University in St. Louis enrolled
undergraduate, graduate or professional student, or postdoctoral researcher, or an alumnus who has
graduated within five years of submitting his or her application for the award
Washington University-affiliated team members must have substantial equity stake in the venture at the
time of its application for the award, which we would typically expect to be 50% or higher
The venture:
•
•
•
•
must propose an application of technology to solve a real world problem, with the widest possible global
impact
must propose a sustainable and scalable for-profit entity
must have incurred less than $1 million in total debt, equity, grant or prize funding at the time the Dutia
and Grewal award is made
must have completed at least one year of startup activity.
Participants in the award process are expected to have regular interactions with Skandalaris Centerassigned/Center-approved mentors as well as attend Center workshops.
Evaluation Criteria
The Selection Committee will review submissions based on the following criteria:
• Description of the large problem
• Overview of the concept that the team is pursuing to address the problem, including the activity, the team and
venture, and their collaboration with others
• Level of impact the venture will have, including a description of the current situation, the proposed impact or
disruption and subsequent change, and the social value
• Challenges, including technical, market, operational, funding, and others
• Description of how the Dutia and Grewal award will increase the team’s probability of success, including
through mentorship and funding, and how the team plans to use the award
• Sustainability, including team commitment and coachability, and ability to grow the venture, have economic
impact, and increase social value
• Team moral commitment to the spirit and sustainability of the Dutia and Grewal award; finalists will be
required to submit a two-page personal/team statement
See Appendix D for a draft of the submission form.
Selection Committee
The Selection Committee will include: Emre Toker, Managing Director of the Skandalaris Center; Ken
Harrington, former Managing Director, Skandalaris Center, and President, The Bayberry Group; Eldar
Causevic, Associate Dean for Entrepreneurship & Partnerships; Jim Brasunas, Executive Director of the St.
Louis Information Technology Entrepreneur Network (ITEN); and Dougan Sherwood, Co-Founder and
Managing Director of Cambridge Innovation Center (CIC) St. Louis.
The Selection Committee will in perpetuity include the Managing Director of the Skandalaris Center and the
Dean of the School of Engineering and Applied Science, with three other members recruited annually.
Award
The Selection Committee has full discretion to make one award or split the award as they deem appropriate. In
the event no awardee is selected in a given year, multiple awardees could be named the following year. Award
winners will receive:
•
•
Mentoring and connections to people or organizations that accelerate venture launch, leading to
scalability and sustainability
Up to $50,000 cash award
Timeline
Date
Now
Description
Post your idea at ideabounce.com/GIA15 to get
connected to the Skandalaris Center and its
resources to help you improve your “Opportunity
Summary”
Monday, June 15, 2015, Noon St Louis time
Deadline to submit the two-page Opportunity
Summary by email to [email protected]. See
Appendix D for format of the submission and
content of entry form
Monday, June 15 – Wednesday, July 15
Selection Committee will read and evaluate all
submissions
Wednesday, July 15
Finalists announced via email and press release
July and ongoing
Selection Committee will discuss mentor needs,
recruit mentors, and introduce mentors to teams
July – October
Three-month intensive training and
mentorship period
Finalists work with mentors and prepare written
“Impact Summary” and oral Final Presentation;
Skandalaris-led workshops will offer venturespecific training
Monday, October 19
Ten-page written Impact Summary and two-page
personal/team statement of the commitment to
the spirit and sustainability of the Dutia and
Grewal award due by email to [email protected]
October 19 – October 30
Selection Committee reads and evaluates written
Impact Summary and provides input to judges
Friday, October 30, noon C.S.T.
Tentative dates
Monday, November 2 or
Tuesday, November 3
Final Presentation PowerPoint due by email
to [email protected]
Final Presentations, awardee selection, and
celebratory event
• 9AM – Noon, Finalist Presentations
• Noon – 2PM, Selection Committee meets
and determines winner
• 5 – 8PM, Reception and winner
announced
FAQ
Q. What are some examples of projects that might apply?
A. Helping constituents trapped in poverty with impact on a specific geographical area or group, i.e. breaking
the cycle of poverty in rural subsistence agriculture communities or reducing the number of urban poor;
Influencing important health issues that would affect all socio-economic levels; Improve education, promote
agricultural innovations, address climate change, or effect social change.
Q. Who are the previous winners?
A. Nanopore, winner of a $40,000 prize, is developing a rapid and portable bacterial diagnostic test to take the
guesswork out of prescribing antibiotics. ViFlex, which took home a $10,000 prize, is developing a pair of lowcost, adjustable eyeglasses as part of a sustainable and scalable solution to reduce the burden of poor vision for
the 700 million in the developing world who have untreated refractive error. More information is
at http://news.wustl.edu/news/Pages/27525.aspx.
Q. What are the advantages if I am not selected as a finalist or winner?
A. You will receive feedback on your idea from the Selection Committee and Skandalaris Center mentors
throughout the process. Just because you are not selected to continue to the next phase does not mean your
idea will not receive attention, and possible connections to mentors or other funding opportunities.
Q. Are students and alumni from all WUSTL schools eligible?
A. Yes. Alumni must have received a degree from WUSTL within 5 years of the award application being
submitted. For the 2015 competition, any alumnus who was awarded his or her degree after May 2010 would
be eligible.
Q. Will I receive any funding for mentor meetings during the finalist phase?
A. No.
Q. What are some resources I can access if my idea is too early-stage?
A. The Skandalaris Center sponsors an extensive series of programs to encourage ideas and help entrepreneurs
develop. All are free and open to the public. See the Skandalaris Center website at sc.wustl.edu for additional
details and to sign up for its weekly newsletter.
Q. What are the expectations for finalists during the July – October period?
A. The Selection Committee will introduce teams to mentors and the Skandalaris Center will offer workshops
and venture-specific training. The extent to which they use those resources will be part of the determination of
award winners.
Q. How do I keep my commitment to giving back?
A. While this is at the discretion of the winners, the selection committee’s perception of the applicants’
commitment to the spirit of the award is part of the evaluation criteria. As Suren Dutia wrote (see Appendix B),
“By giving back to the society that has provided a nurturing environment in which to build wealth through their
businesses, entrepreneurs complete the full circle of entrepreneurship, paying it forward as a gesture of
appreciation for the success that they have achieved.”
Q. Are Washington University School of Medicine residents eligible to apply for and receive the Global Impact Award?
A. Yes.
About the Donors
Suren G. Dutia is a passionate advocate for entrepreneurship and
an executive with extensive and successful multi-industry
leadership experience, including Internet/e-commerce, document
management software, medical instrumentation and other varied
high technology businesses. Suren served as President and CEO of
Xscribe Corporation, a publicly traded company in San Diego for
Skandalaris friends Suren G. Dutia and Jas K. Grewal
over 10 years. In addition, Suren held a number of leadership
positions with Boston-based Dynatech Corporation for 7 years. Prior to working in the private sector, Suren
spent 10 years in the non-profit and public sectors. Suren recently completed 4 1⁄2 years as Chief Executive
Officer of TiE Global based in Silicon Valley. With 56 chapters in 13 countries, TiE is one of the largest nonprofit
organizations involved in fostering entrepreneurship globally. Suren also founded the San Diego chapter of TiE in
2000 and served as its President for 3 years.
Suren served as the Wells Fargo Advisors Visiting Lecturer in Entrepreneurship at Washington University in St.
Louis in 2012 – 13, as A Senior Fellow in 2013-14, and still serves the Skandalaris Center as a member of its
National Council. He is also Senior Fellow at the Kauffman Foundation. Suren is an investor in a number of
ventures and is currently serving as a board member in three start-up ventures. Suren has a B.S. and M.S.
degrees in Chemical Engineering and B.A. in Political Science from Washington University in St. Louis, and holds
an MBA degree from the University of Dallas in Irving, Texas.
Jas K. Grewal had a 25-year banking career with positions of increasing responsibility with First Interstate Bank
of California and its successor entity, Wells Fargo Bank, in both the San Francisco Bay area and San Diego
specializing in private and personal banking. In 1992, Jas was one of 12 individuals statewide to receive the
prestigious President’s community reinvestment award for her design and implementation of a houseboat loan
program in Marin County while serving as a Bank Manager at First Interstate Bank.
For the past 30 years, Jas has volunteered her time for numerous community projects, embodying the spirit of
service with her first fundraiser at age 14 for the Muscular Dystrophy Association. Among her many community
involvements include serving on the board of Board of Bread & Roses, a Northern California non-profit; trustee
for the San Diego Sikh Foundation; and Trustee of the La Jolla Town Council from 2000-2004. Jas was a founding
member of the TiE South Coast Chapter in 2000 and was on the Executive Committee for 3 years, Program Chair
for 4 years, and Charter Member Event chair for over ten years and champion of the organization’s Young
Entrepreneurs Program, including raising funds for this important initiative.
Jas is actively involved with the San Diego Museum of Art (SDMA) and was a Trustee for six years serving on
Executive, Finance, Investment and Audit Committees. Jas is co-founder and Chair of The Committee for the
Arts of the Indian Subcontinent, a support group of the Museum as well as past office holder and current
member of The Asian Arts Council, another support group at the Museum. Additionally, she has served in a
number of positions, including as President, of Soroptimist International’s (SI) chapter in La Jolla. SI is a
worldwide organization for professional women, with NGO status at the UN, working to advance human rights
and the status of women. She also serves as the community representative on the UCSD Human Protection
Program’s Research Board. Jas has a Bachelor’s of Science Degree from University of Toronto in Toronto,
Ontario, Canada and a Master’s Degree in Banking & Finance from Golden Gate University in San Francisco.
Appendix A: February 12, 2014 Record announcement: “Inspiring successful entrepreneurs and social innovators with the Suren G. Dutia and Jas K. Grewal Global Impact Award in the Skandalaris Center” Inspiring successful entrepreneurs and social innovators with the Suren G....
1 of 2
http://news.wustl.edu/news/Pages/26504.aspx
(http://www.wustl.edu)
(/)
Inspiring successful entrepreneurs and social innovators with the Suren G. Dutia and Jas K.
Grewal Global Impact Award in the Skandalaris Center
Applications due March 24 for awards to support business ventures aimed at catalyzing social change
February 12, 2014
By Barbara Rea
After receiving an excellent education at Washington University in St. Louis,
including access to mentors and learning in an environment conducive to
innovation, alumnus Suren G. Dutia (BS ’63, AB, MS ’67) forged a successful career
in several industries, including Internet/e-commerce, medical instrumentation and
other high-technology businesses. Along the way, he grew into a passionate
advocate for innovation and transdisciplinary, cross-campus entrepreneurship.
Now, he and Jas K. Grewal, his wife and frequent professional collaborator, are
completing the circle of opportunity begun at his alma mater by establishing an
endowed fund to assist promising entrepreneurs and high-growth entrepreneurial
ventures to catalyze social change.
Their gift of $1,025,000 will establish the Suren G. Dutia and Jas K. Grewal Global
Impact Award in the Skandalaris Center for Entrepreneurial Studies at WUSTL.
The endowed fund will receive $1 million, and the remaining $25,000 will support
awards made during the current academic year.
The Skandalaris Center is a campus-wide program that supports entrepreneurial
initiatives in every school at WUSTL.
KEVIN LOWDER/WUSTL PHOTOS
Jas K. Grewal (left) and Suren G. Dutia
In announcing the gift, Chancellor Mark S. Wrighton said:
“As professionals with a long history of entrepreneurial leadership and success and a genuine commitment to help others,
Suren Dutia and Jas Grewal understand the great potential benefits, for both the individual and for society, that can arise from
an environment conducive to learning and growth.
“We are honored by their commitment and very grateful to Suren and Jas for this remarkable gift that strengthens the
Skandalaris Center’s resources for future generations of entrepreneurs and agents of social change,” Wrighton continued.
The Suren G. Dutia and Jas K. Grewal Global Impact Award Fund has been designed to meet the donors’ overarching goal: to
invest in promising ventures founded by highly motivated entrepreneurs that use technology to develop low-cost products and
services that will spur economic growth and catalyze social change for underserved, disadvantaged populations.
Skandalaris Center managing director Ken Harrington, who has known and admired Dutia for several years, appreciates the
way the donors have structured the award process to instill a socially conscious goal and to support future generations.
“I’m extremely grateful to Suren and Jas for this important gift to the Skandalaris Center, which fosters and supports the great
work of our students, scholars and alumni,” Harrington said. “Their gift adds powerful resources to help entrepreneurs in the
WUSTL community develop their skills and social networks and form ventures equipped to change the world.”
Another key aspect of the gift is to encourage award winners to contribute back to the fund after achieving a successful venture.
As Harrington points out, the donors are underscoring the importance of expanding what they have begun, to empower more
people to create more entrepreneurial ventures each year.
“The objective is to establish an ongoing commitment to long-term social responsibility,” Harrington said. “Their gift serves as
a wonderful example for others who may be inspired to make impactful gifts consistent with their own values and beliefs. This
helps complete the circle of ‘giving back to society’ that Suren has written about and exemplifies all that he and Jas do.”
Harrington will establish a selection committee to oversee the awards process. It will be structured, according to the donors’
wishes, to include the director of the Skandalaris Center, the dean of the School of Engineering & Applied Science and
5/3/2015 2:26 PM
Inspiring successful entrepreneurs and social innovators with the Suren G....
2 of 2
http://news.wustl.edu/news/Pages/26504.aspx
representatives of St. Louis area organizations and firms that support entrepreneurial enterprises.
Award winners will receive $25,000 to $50,000 to implement their business plans; access to mentors; and connections to
organizations that can accelerate their ventures.
The application process is open to all current WUSTL students, postdoctoral researchers and alumni who have graduated in
the past five years. The application deadline is noon March 24; the first award will be presented in September.
While having a generous funding source is important to a venture’s success, Harrington emphasized the value of the mentoring
component, which will be available to all finalists in the competition — not just the winners.
“Though not all applicants will receive funding, all finalist teams will receive mentorship and introductions to important
connections that can help them develop their ventures, ” he continued.
Dutia, currently a senior fellow with the Ewing Marion Kauffman Foundation, invests in a number of startup ventures and is on
the board of several firms.
Most recently, he served as chief executive officer of TiE (The Indus Entrepreneurs) Global. With 57 chapters in 14 countries,
Silicon Valley-based TiE is one of the largest nonprofit organizations involved in fostering entrepreneurship globally.
Earlier in his career, Dutia was president and CEO of Xscribe Corp. and held a number of leadership positions with Dynatech
Corp.
Dutia holds three degrees from the university: bachelor’s and master’s degrees in chemical engineering and a bachelor’s degree
in political science, from Arts & Sciences. He also received a master’s in business administration from the University of Dallas.
From 2011 to 2012, Dutia was the Wells Fargo Advisors Visiting Lecturer in Entrepreneurship at WUSTL.
He continues to serve the Skandalaris Center as a senior fellow and is a member of WUSTL’s Entrepreneurship National
Council. In addition, Dutia chairs the San Diego Regional Cabinet and Grewal serves as a member.
For more information on the Suren G. Dutia and Jas K. Grewal Global Impact Award, including criteria for selection, visit here
(http://sc.wustl.edu/Pages/default.aspx) . (http://sc.wustl.edu/Pages/default.aspx)
5/3/2015 2:26 PM
Appendix B: September 24, 2012 Huffington Post Small Business Blog “Entrepreneurship ‐ Completing the Circle” by Suren Dutia En
ntreprreneurrship -- Com
mpletiing thee Circcle
Surren Dutia
a
Senioor Fellow, Ew
wing Marion Kauffman
K
Foundation
Posted: 09/24/20
012 1:43 pm
"Whhen you stand
d out in a cro
owd, it is on
nly because you
y are beingg carried on the shouldeers of others,"
Archhbishop Desm
mond Tutu commented
c
to
t the cheeriing participaants at the Cllinton Globaal Initiative iin New York
k
on Sept. 19, 2011. Archbisho
op Tutu's wo
ords are simp
ple, yet theyy have profouund significaance to how successful
indivviduals are made.
m
Most accomplish
hed entrepreneurs are no
ot born. Theiir success is erected on thhe foundatioon of societyy - a society
ortunities su
uch as educattion, associaation with likke-minded people, a systtem of free
that pprovides theem with oppo
enterrprise with favorable
f
gov
vernment po
olicies and reegulations, aaccess to menntors and caapital, and ann
envirronment con
nducive to bu
uilding on id
deas. I believ
ve success iss like a circlee and peoplee should passs the
beneefits of succeess forward to
t make the world a bettter place. Byy giving backk to the socieety that has pprovided a
nurtuuring environment in wh
hich to build
d wealth through their buusinesses, enntrepreneurs complete thee full circle
of enntrepreneurship, paying it forward ass a gesture of
o appreciatioon for the suuccess that thhey have achhieved.
Todaay the world
d faces an un
nprecedented
d set of probllems, from hhunger and ppoverty to inncreasing ecoonomic
inequuality, envirronmental deegradation, HIV/AIDS
H
an
nd other deaadly diseasess, ethnic andd religious coonflicts and
moree. Despite hu
uge technolo
ogical progreess and weallth gains madde over the llast 100 yearrs, one couldd argue that
the pproportion off the human race consideered being better
b
off now
w than 100 yyears ago is m
much smalleer.
Therre is a pressing need to address
a
somee of the thorn
niest issues oof the 21st ccentury. Thiss is where inndividual
entreepreneurs caan play a meaaningful rolee. It is comm
mon knowleddge that entrrepreneurs crreate jobs annd foster
innovation. In th
his sense, theey are alread
dy making a substantial ssocial contribbution. Neveertheless, enntrepreneurs
emboody traits that are ideal for
f addressin
ng social neeeds, such as leadership, vvision, the abbility to attraact talented
peopple, drive, focus, perseveerance, self-cconfidence, optimism,
o
coompetitiveneess and ambbition. Engagging
entreepreneurs in the social seector to applly their capacity for innoovative ideass, high perfoormance expeectations
and ggenerating results could lead to real solutions to social challlenges.
Harnnessing the talents of enttrepreneurs to
t create possitive social iimpact is noot new. Throuughout histoory, many
exceeptional indu
ustrialists and
d entrepreneeurs have cho
osen to give back. Ewingg Kauffman founded thee world's
largeest foundatio
on dedicated
d to entrepren
neurship beccause he beliieved that beeing an entreepreneur wass the key to
his rrise out of po
overty and wanted
w
otherss to have thee same opporrtunities. Anndrew Carneegie financedd libraries to
prom
mote the advancement an
nd diffusion of knowledg
ge. Bill Gatees founded thhe Bill and M
Melinda Gattes
Founndation to en
nhance globaal health caree, reduce glo
obal povertyy and expandd access to edducational oopportunity
and ttechnology.
Entrepreneurs motivated
m
to transition
t
fro
om being succcessful to bbeing significcant by doinng what reallly matters
havee many optio
ons. Imagine a world 25 years from now
n where ppeople livingg in developiing countries no longer
suffeer casualties from hungeer and malnu
utrition. Imag
gine developping vaccines that prevennt common iinfectious
diseaases such as malaria, AID
DS, measless and rotaviru
us and makiing them affo
fordable and readily avaiilable in
deveeloping coun
ntries, thereb
by saving milllions of livees. Imagine a world wheere lack of ellectricity, cleean water
and adequate sanitation are no longer a problem, saving the lives of 1.4 million children yearly. Imagine
empowering millions of children all over the world through affordable basic education and access to the
Internet. Tapping the extraordinary skills and resources of entrepreneurs can turn these visions for a better
world into reality.
Like the generous founders before them, today's entrepreneurs can identify areas of focus that they are
passionate about and tackle problems related to them. And solving one social ill can have broad implications for
society. In the case of global climate change, for instance, improving electricity challenges in developing
countries would reduce the negative consequences of global climate change in developed countries.
Entrepreneurs also can get involved in government-backed initiatives to support impact investing and social
innovation. In the UK, the government has set up a Social Impact Bond (SiB), where investors fund nonprofit
social ventures that result in social benefit as well as financial savings to the society as a whole. Currently, the
Ministry of Justice is doing this to trim down repeat offenders released from the Peterborough Jail. This is an
example of how social good also can reduce cost. This model is being replicated in the United States via a sister
organization, Social Finance, Inc., that has been established in Boston, New York and other cites to combat
social issues such as criminal justice and housing.
Giving back to society is not limited to only the direct, actionable ways in which entrepreneurs can respond to
critical social issues. They can engage in philanthropic efforts such as pledging donations to nonprofit
organizations, providing grants or scholarships to universities or research institutes that are focused on
combating social problems, participating in thought leadership forums, fostering mentoring programs, etc.
Serial entrepreneurs in pursuit of their next new entrepreneurial idea could create a business enterprise with a
philanthropic or socially responsible element added to it from the ground up. They can set up a foundation
associated with the business, from which resources are deployed to effect positive social change. For example,
they can assign a percentage of the venture's equity to a foundation or to an organization pursuing a
philanthropic cause. Salesforce.com has adopted a model that contributes 1 percent of the company's financial
and intellectual capital to support organizations that are addressing challenges in their communities.
Few months ago, I asked a successful entrepreneur, "How do you spend your time?" He explained to me his
willingness to contribute his time and resources to support individuals and organizations that are making
positive social contributions. I asked him, "Why do you do that?" He said, "I have all the money I require and
now I want to spend my time and energy on helping others, my health and be happy." This sentiment reminded
me of an inspiring quote I recently read in a book co-authored by my friend Victor Chan and his Holiness Dalai
Lama. In this book, His Holiness Dalai Lama sums up the point of this article aptly.
To be happy, my practice helps me lead a useful life. If I can give a short moment of happiness to others, then I
feel that my life has achieved some purpose. This gives me deep mental satisfaction -- this feeling always
comes if you serve others. So, when I help others, I feel happy. For me, the most important thing is human
compassion, a sense of caring for one another.
Follow Suren Dutia on Twitter: www.twitter.com/kauffmanfdn
Appendix C: Suren Dutia’s Remarks, 2014 Global Impact Award Ceremony Suren Dutia’s Remarks
2014 Global Impact Award Ceremony
I truly feel blessed for having met so many smart and thoughtful
persons who took a chance on me, guided and assisted me along the
way. For me, moral of the story is simple. While god given talent might
have played some role and luck really helped, I succeeded primarily
due to our system of education and free enterprise, culture of
innovation and entrepreneurship and several mentors who were ready
and willing to help me. This is precisely why it is important that I, in
turn, share my good fortune by helping the aspiring entrepreneurs.
From my experience managing the War on Poverty programs and
being involved in fostering entrepreneurship globally, I have personally
concluded that entrepreneurship is the most powerful paradigm for
eradicating poverty, creating jobs, developing human capital,
facilitating economic development, and even bringing social change.
My passion for entrepreneurship stems from the belief that politics
and religion divides people but creation of wealth unites people.
Today, I’m grateful that I have the opportunity to come full circle, giving back to my alma mater and getting involved.
For me, this award holds a special place in my heart. It’s not about writing a check and then walking away. It’s about
learning, sharing, meeting others, and getting involved. I love that approach, because it means that you’re not making a
one-time gift. You are giving back to the community at large with a new gift, every day, through your actions, your
talents, your connections and resources.
Now let me comment on our intent which has raised questions and should be clarified. Having held senior management
positions in government and non-profit organizations as well as privately-held and publicly-traded companies, I have
learned that while some vocabulary might be a bit different, management functions and challenges of both for profit
and non-profit entities are markedly similar. The primary differentiation is how we measure outcomes i.e. for “profit”
versus “social” or “societal” benefits. In fact, an incredible thought leader, Peter Drucker, and others have written about
it and stated that “profit” is the only defining difference between these two forms of entrepreneurship.
Often times when one thinks of bringing big disruptive and innovative ideas to lift the disadvantaged segments of our
society, one automatically assumes a more philanthropic and social entrepreneurship paradigm of thinking. The view
often discounts that form of entrepreneurship as being more charitable than business. Ultimately, I believe that this
tunnel vision brings up an interesting belief. The traditional lament has always been that the best talent starts the next
sexy, airbnb, uber cool and hot tech startup or goes to Wall Street. Don’t get me wrong. I absolutely support and get
excited whenever I hear or see a new innovative and cool idea being introduced in the marketplace. At the same time,
we cannot insulate ourselves to making and creating products catered to young, affluent urbanites only. But let me be
clear. This Global Impact Award is primarily about entrepreneurship and virtuous cycle of wealth creation.
However, we need to bring in a new spirit to entrepreneurship and change the way the underserved have access to
product and services that will spur economic growth. We need smart and well-trained engineers, business leaders,
scientists and doctors and others who would want to help cure cancer, solve the world’s water crisis, find ways to
increase food production to feed the humanity or fix the healthcare issues here at home than to work for a sexy social
media app company.
The Global Impact Award aims to reward the entrepreneur who is bold to stand up for Big Problems, harsh and dirty. We
want to encourage a competitive marketplace for big disruptive ideas that will impact millions around the world. It is our
earnest hope that entrepreneurs who have participated in this Global Impact Award will be successful in creating jobs,
generating wealth for their stakeholders and giving back to their communities by serving as inspirational role models for
the next generation of entrepreneurs. I am deeply committed to that vision.
Appendix D: Opportunity Summary Submission Format Suren G. Dutia and Jas K. Grewal Global Impact Award Opportunity Summary
<
One Line Pitch:
Business Summary:
Customer Problem:
Product/Services:
Target Market:
> Opportunity Summary
Company Profile
URL:
Industry:
Date of incorporation:
Contact Info:
Product Stage:
__Market Research
__Prototype
__Customer testing
__Launch
Structure of the organization:
__Sole Proprietorship or Partnership
__Corporation
__Limited Liability Company (LLC)
__Low-Profit Limited Liability Company
(L3C)
Equity held by Washington Universityaffiliated team members __________%
Funds raised, including debt, equity, grant,
or prizes:
__less than $50,000
__$50,000 - $100,000
__$100,000 - $250,000
__$250,000 - $500,000
__$500,000 - $1,000,000
__Over $1,000,000
Management:
Potential Global Impact:
Advisors:
Business Model:
Collaborators:
Competitors:
Competitive Advantage:
Patents, IP, Proprietary Technology:
Suren G. Dutia and Jas K. Grewal Global Impact Award Opportunity Summary
Customer Validation:
Sales/Marketing Strategy:
Use of Award and Milestones:
Use of Funds
Specific Activity
Funds Req.
Deliverable
Delivery By
Total Initial Capital Needs
Financials:
Financials
Revenues
Expenses
Net Profit
Year 1
Year 2
Challenges; How/Where Mentors can Help
Year 3
Year 4
Year 5