When most people think ‘venture,’ they think risk. A daring undertaking that has no guarantee of success. Much like traditional business ventures, Ashoka’s Venture program does involve some level of risk—risk inherent in investing in individuals and their ideas at the launch stage. Rather than measure success with a bottom line, we measure it in the form of social impact and systemic change. In Ashoka’s case, the investment is often small, and the social change it makes possible is remarkable.

Ashoka helps maximize social impact through a rigorous Fellow selection process that has been refined over 25 years. With the help of a robust global nominator network—consisting of partner organizations, businesses, social entrepreneurs, and community leaders—Ashoka scours the earth for leading social entrepreneurs and evaluates each candidate against Ashoka’s five selection criteria.

From nomination to election as a Fellow, candidates go through an extensive series of in-depth interviews, a judging panel, and a final executive board vote. International staff frequently make site visits to evaluate candidates in their work environment. Nominees are rigorously questioned about practical implementation—the blueprints that will make their ideas come to life—as well as personal background, values, motivations and aspirations.

The process is long but also fruitful. In fact, many candidates describe the selection procedure as one of the most difficult but enlightening experiences of their careers. Candidates must communicate their ideas, scrutinize their methods, and reflect on themselves as individuals. Even those who do not pass believe they are better equipped to return to their projects afterwards. Venture is not simply a means to an end, but rather our selection process generates robust discussion, sharpens ideas, and focuses tremendous energy into the citizen sector and the growing field of social entrepreneurship.