Innovative Finance: Hacking finance to change the world from Coursera

To address global poverty - do we really not have enough resources or do we not have the right tools to allocate our resources?

The tools of finance, when applied correctly, can be an enabler of social and environmental outcomes. This course is designed to give you the ability to build innovative financing strategies that work towards outcomes such as financial inclusion, access to energy, and access to education. The innovative finance process has five key components. It starts with identifying the outcomes you are looking to achieve and next moves on to due diligencing your issue area using techniques like design thinking to make sure you are designing with the end user. Next, you must map all of the resources available for your outcome and then discover opportunities to augment these through business model innovation, multi-stakeholder partnerships, and innovative financial structures. Finally, the last step is to put all of these pieces together to design an innovating financing strategy.

Each week dives into a component of the process using examples and real case studies from social entrepreneurs, non-profits, development funders, impact investors, governments, foundations, and more. Over five weeks you’ll learn about new types of revenue creation, financing approaches, business models, and partnerships. By the end of the course, you’ll have the ability to hack finance for social change.

What's inside

Syllabus

Choosing Your Issue Area

Welcome to the first week. We start by defining what innovative finance is and why we need to innovative around financing for social impact. The seven themes of impact we consider are housing, health, education, financial inclusion, agriculture, energy, and water, sanitation, and hygiene. Our case studies are a social enterprise, impact investor, foundation, non-profit and government who are each building innovative financing strategies. You will be investigating why these organisations were created and what the specific issue areas are that they have chosen. We'll encourage you to also start thinking about which of these issue areas resonates with you and what you wish to address in the future. This is the first building block in guiding you to create an innovative financing strategy for yourself.

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Explores innovative financing strategies to address global poverty, a topic of high relevance to international development

Taught by experts in finance and social entrepreneurship, Auni Patton Power and Tsakane Ngoepe

Provides a structured process for developing innovative financing strategies, covering key components such as identifying outcomes, due diligence, resource mapping, and design

Emphasizes the application of finance to social and environmental issues, making it relevant for individuals interested in impact investing and sustainable development

Requires familiarity with basic finance concepts and some experience in social impact

May not be suitable for beginners with no prior knowledge of finance or social impact

Reviews summary

Innovative finance for social impact

According to learners, "Innovative Finance: Hacking finance to change the world" provides a great introduction to applying financial concepts for social and environmental good. Many highlight the course's practical framework and insightful case studies as key strengths, demonstrating how innovative financing works in real-world scenarios across various sectors like health, education, and energy. Students found the content highly relevant for careers in social impact, development, and non-profit organizations. While some reviews suggest the course may be more introductory and could potentially benefit from deeper dives into specific financial instruments, the overall sentiment is very positive, positioning it as an excellent starting point for understanding how to hack finance for social change.

Step-by-step approach is clear.

"The innovative finance process has five key components... Finally, the last step is to put all of these pieces together to design an innovating financing strategy."

"You will be investigating why these organisations were created and what the specific issue areas are that they have chosen. This is the first building block..."

"Here we introduce you to the five stages of the innovative finance process, which you have been working through during the past four weeks. This week we have arrived at the design process."

Course connects finance to social good.

"The tools of finance, when applied correctly, can be an enabler of social and environmental outcomes."

"This course is designed to give you the ability to build innovative financing strategies that work towards outcomes such as financial inclusion, access to energy, and access to education."

"By the end of the course, you’ll have the ability to hack finance for social change."

Real-world examples are a highlight.

"Each week dives into a component of the process using examples and real case studies from social entrepreneurs, non-profits, development funders, impact investors, governments, foundations, and more."

"Our case studies are a social enterprise, impact investor, foundation, non-profit and government who are each building innovative financing strategies."

"You’ll hear the case participants reference the different types of funders that we discuss as well as the opportunity to use an outcomes-based contract."

A good starting point, may lack depth.

"This course is designed to give you the ability to build innovative financing strategies..."

"We start by defining what innovative finance is and why we need to innovative around financing for social impact."

"I wish some of the concepts were explored in more detail."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Innovative Finance: Hacking finance to change the world with these activities:

Compile Your Resources

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Before starting the course, gather and organize your notes, assignments, quizzes, and exams. This will provide a solid foundation for your learning.

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Go through the course syllabus
Organize your notes and materials
Review the course materials

Compile a Database of Finance Resources

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Organize and curate a collection of resources that will support your learning throughout the course.

Browse courses on Financial Data

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Identify and gather relevant articles, websites, and other resources related to the course material.
Categorize and organize the resources into a logical structure.
Develop a system for accessing and updating the database as needed.

Follow a Finance Tutorial Series

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Gain a deeper understanding of the course material by following a structured tutorial series.

Browse courses on Financial Modeling

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Identify a tutorial series that aligns with the course content.
Follow the tutorials in sequence, taking notes and practicing the techniques.
Apply the knowledge gained from the tutorials to the course assignments.

Three other activities

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Practice Finance Calculations

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Develop proficiency in the financial calculations that form the basis of this course.

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Review the coursework on financial calculations.
Use an online financial calculator or spreadsheet to practice calculations.
Create a set of practice problems based on the course materials.

Attend a Finance Workshop

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Engage with financial professionals and gain practical insights into the field.

Browse courses on Impact Investing

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Research and identify a finance workshop that complements the course material.
Attend the workshop, actively participate in discussions, and take detailed notes.
Connect with other attendees and exchange ideas on the topics covered in the course.

Mentor a Junior Finance Professional

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Reinforce your understanding of the course material while supporting the development of others.

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Identify a junior finance professional who would benefit from your guidance.
Meet with your mentee regularly to provide support, advice, and feedback.
Share your knowledge and experience on the topics covered in the course.

Career center

Learners who complete Innovative Finance: Hacking finance to change the world will develop knowledge and skills that may be useful to these careers:

Impact Investor

Impact investors invest in companies and organizations that have a positive social or environmental impact. They work in a variety of industries, including technology, healthcare, and clean energy. The course "Innovative Finance: Hacking finance to change the world" can be helpful for impact investors by providing them with a foundation in financial concepts and impact investing techniques. The course can also help impact investors develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Impact Investor

Wealth Manager

Wealth managers provide financial advice and investment management services to high-net-worth individuals and families. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for wealth managers by providing them with a foundation in financial concepts and wealth management techniques. The course can also help wealth managers develop the skills they need to communicate their findings to decision-makers.

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Venture Capitalist

Venture capitalists invest in early-stage companies with high growth potential. They work in a variety of industries, including technology, healthcare, and clean energy. The course "Innovative Finance: Hacking finance to change the world" can be helpful for venture capitalists by providing them with a foundation in financial concepts and venture capital investment techniques. The course can also help venture capitalists develop the skills they need to communicate their findings to decision-makers.

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Development Finance Specialist

Development finance specialists provide financial advice and support to developing countries and emerging markets. They work in a variety of organizations, including the World Bank, the United Nations, and non-profit organizations. The course "Innovative Finance: Hacking finance to change the world" can be helpful for development finance specialists by providing them with a foundation in financial concepts and development finance techniques. The course can also help development finance specialists develop the skills they need to communicate their findings to decision-makers.

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Actuary

Actuaries use mathematical and statistical methods to assess risk and uncertainty. They work in a variety of industries, including insurance, finance, and consulting. The course "Innovative Finance: Hacking finance to change the world" can be helpful for actuaries by providing them with a foundation in financial concepts and risk management techniques. The course can also help actuaries develop the skills they need to communicate their findings to decision-makers.

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Financial Analyst

Financial analysts provide financial advice to individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for financial analysts by providing them with a foundation in financial concepts and analysis techniques. The course can also help financial analysts develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Financial Analyst

Financial Manager

Financial managers oversee the financial operations of organizations. They work in a variety of industries, including business, government, and non-profit. The course "Innovative Finance: Hacking finance to change the world" can be helpful for financial managers by providing them with a foundation in financial concepts and management techniques. The course can also help financial managers develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Financial Manager

Investment Analyst

Investment analysts provide investment advice to individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for investment analysts by providing them with a foundation in financial concepts and investment analysis techniques. The course can also help investment analysts develop the skills they need to communicate their findings to decision-makers.

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Portfolio Manager

Portfolio managers manage investment portfolios for individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for portfolio managers by providing them with a foundation in financial concepts and portfolio management techniques. The course can also help portfolio managers develop the skills they need to communicate their findings to decision-makers.

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Social Impact Analyst

Social impact analysts assess the social and environmental impact of organizations and investments. They work in a variety of industries, including non-profit, government, and finance. The course "Innovative Finance: Hacking finance to change the world" can be helpful for social impact analysts by providing them with a foundation in financial concepts and social impact assessment techniques. The course can also help social impact analysts develop the skills they need to communicate their findings to decision-makers.

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Sustainability Analyst

Sustainability analysts assess the environmental and social performance of organizations and investments. They work in a variety of industries, including non-profit, government, and finance. The course "Innovative Finance: Hacking finance to change the world" can be helpful for sustainability analysts by providing them with a foundation in financial concepts and sustainability assessment techniques. The course can also help sustainability analysts develop the skills they need to communicate their findings to decision-makers.

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Auditor

Auditors examine financial records to ensure that they are accurate and in compliance with regulations. They work in a variety of industries, including accounting, finance, and government. The course "Innovative Finance: Hacking finance to change the world" may be useful for auditors by providing them with a foundation in financial concepts and auditing techniques. The course can also help auditors develop the skills they need to communicate their findings to decision-makers.

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Budget Analyst

Budget analysts develop and manage budgets for organizations. They work in a variety of industries, including government, non-profit, and healthcare. The course "Innovative Finance: Hacking finance to change the world" may be useful for budget analysts by providing them with a foundation in financial concepts and budgeting techniques. The course can also help budget analysts develop the skills they need to communicate their findings to decision-makers.

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Credit Analyst

Credit analysts assess the creditworthiness of individuals and businesses. They work in a variety of industries, including banking, finance, and insurance. The course "Innovative Finance: Hacking finance to change the world" may be useful for credit analysts by providing them with a foundation in financial concepts and credit analysis techniques. The course can also help credit analysts develop the skills they need to communicate their findings to decision-makers.

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Risk Manager

Risk managers assess and manage risks for organizations. They work in a variety of industries, including banking, finance, and insurance. The course "Innovative Finance: Hacking finance to change the world" may be useful for risk managers by providing them with a foundation in financial concepts and risk management techniques. The course can also help risk managers develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Risk Manager