OUI’s first social enterprise spinout, Sophia Oxford, will implement a multidimensional poverty index and standards intended to help corporates respond to the needs of workforces.

University of Oxford unveiled its first social enterprise spinout yesterday  in the form of UK-based poverty assessment provider Sophia Oxford, which has an exclusive licence for poverty measurements devised at the university. The spinout will work with corporate clients to implement a multidimensional poverty metric called the Business Multidimensional Poverty Index (BMPI), the invention of researchers from the Oxford Poverty and Human Development Initiative (OPHI) led by its director, Sabina Alkire. BMPI, which was developed in collaboration with Costa Rican business association Horizonte Positivo, seeks to elucidate the nature of poverty within corporate workforces and supply chains, by detailing a range of important factors including the level of poorness among employees and the underlying causes. The idea is to augment a national-level measure also formulated at OPHI, known as the Multidimensional Poverty Index, to enable businesses to better confront poverty concerns through initiatives such as public-private partnerships. University of Oxford believes BMPI could develop into an effective resource for combatting global poverty and to ultimately end it in observance of the UN’s Sustainable Development Goals. Sophia will with time introduce an auditing process and seal of approval to establish companies that have met standards in the implementation of BMPI and related programs. BMPI was first introduced in Costa Rica in 2017 and is expected to be employed by 100 companies in the country this year. The index was piloted with clients including financial services firm Bac Credomatic Bank, automotive dealer Purdy Motors and public relations agency CCK Central America. Sophia Oxford has received capital from individuals in the UK and USA, including Basil Postan, with contributions seemingly in the form of donations. Fees collected from corporates participating in the scheme have facilitated BMPI’s rollout in Costa Rica. The news represents the genesis for the social enterprise drive launched by University of Oxford tech transfer office Oxford University Innovation (OUI) in September 2018. OUI expects to generate at least 10 impact-led spinouts each year through the initiative and already has more than 25 social enterprises in its pipeline. Mark Mann, innovation lead for humanities and social sciences at OUI and the head of the social enterprise unit, said: “If you look at the breadth and depth of the research the university publishes, there are many potential solutions to the world’s problems that can be rolled out. “Social enterprise can be a great vehicle for delivering impact to people in need and I am particularly excited about the potential of Sophia to bring…

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