Idea: Wylde International has developed a new model for impact investing based on applying “Impact Units” to assess the feasibility of social impact opportunities and interventions in Kenya. Impact Units are a standardized platform for assessing the value of social interventions to a given community. For each community assessed, priority will be given to social interventions that address their most urgent needs.
Problem and context: There is a high need for high impact social interventions in Kenya yet actors in the impact investing sector usually adopt varied, ambiguous and/or divisive impact metrics, increasing challenges of assessing intervention outcomes from a beneficiaries’ point of view.
The Solution: Wylde International aims to make the ambiguities associated with tracing results back to specific impact investments through an impact performance measurement and valuation tool. This tool, Impact Units, will enable local innovating companies, non-profit, or for-profit institutions to develop social interventions that demonstrate real and measurable impact, and are certifiable by Impact Units. Wylde International will convert the impact creators’ proposed project benefits into Impact Units so that social benefits and costs will be understood in a more concrete and specific way. The overall effect of he Impact Units will be to boost impact investors’ confidence that their philanthropy resources such as funds, effort, and time achieve their desired goals and are focused where they are most needed.
Potential challenges: Time lags associated with impact sector areas accepting Wylde International’s proposed unit based metrics; potentially time/resource consuming research process; impact units model may cause conflicts between impact creators and certification agents like Wylde International (especially with regard to what costs and expenses are valid metrics of impact and what constitutes valid impact). Lastly, it may be difficult to differentiate between the impacts brought about by various actors delivering similar social interventions to the same target communities.
Team Members: Valentine Korir (Assistant, Human Capital Development, Wylde International), Kiriinya Kithinji (Director, Strategy and Advisory, Wylde International)
“We are interested in easy-to-implement social innovations that are particularly relevant to women and children refugees in East and Central Africa. We would especially like to hear about access to clean water solutions, access to clean energy, nutrition, storage of vaccinations and other perishable products, and temporary shelters.”