Ross Baird is the president of Village Capital and the author of the “The Innovation Blind Spot: Why We Back the Wrong Ideas―and What to Do About It.”
Baird points out that only one percent of start-up investment goes to African Americans, only two percent of capital goes to women, and 80% of all funding goes to only three states. This leaves many entrepreneurs overlooked.
Baird says if you are an entrepreneur that wants to change the world then think small. He says pick a very specific problem that you see in your job, in your industry, in your neighborhood, and try and be excellent at solving that very specific problem.
Baird’s interest in social entrepreneurship started when he was working in microfinance in India. He helps us understand when microfinance is beneficial to the community and when it becomes extractive.
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Following is a transcript of the video: