Innovative Financial Advisors (Fiinovation): delivering sustainability
The concept of Corporate Social Responsibility became the talk of the town when it became a fashion to promote ethical capitalism or the benign side of capitalism or popularly known in some circles as ‘Capitalism now with care.’ It became a widely known phenomenon among the Industrialists to incorporate the CSR practices in their respective firms. Now, CSR attracts a lot of supportive provisions from the regulatory bodies and the respective governments. Popularity and necessity of CSR have grown to such an extent. It has taken a shape of an Industry. Various new firms are coming into the picture as advisors and consulting the big firms on Corporate’s responsibility towards society and the environment. Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is such a research-based global consulting firm operating in multiple disciplines of social development sector with emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation offers end-to-end CSR consulting services that help Corporations channelize their resources for the upliftment of community on societal, economic and ecological aspects in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has made a benchmark in the sector through its quality service. It has been able to bridge the gap between businesses and communities through value-based CSR programmes in association with credible civil society organizations on Pan India basis in the field of health, environment, education, and livelihood. The firm’s unique in-house “Proposal Research & Design Laboratory” gives it a competitive edge which emphasis on scientific and rational research, tools for developing more effective and result-oriented initiatives which are being conceived and implemented by organizations. Fiinovation provides assistance in the identification of credible & programme-specific implementing partners with its organized and professional outlook towards the project. True to its nature, the organization provides innovative programme concepts and reporting presentations.
What makes them stand apart?
The firm’s team with its expertise on the ground across India helps in identifying “real” needs and develop programs and manages them. They had developed an indicator matrix that recommends sustainability mapping, which is followed by a well-drafted Impact Assessment Report. Fiinovation considers money spent under CSR as an investment and not an expenditure. CSR was incorporated as a mandate very recently under the new Companies Act. Hence, there still exists a hesitance and ambiguity in defining CSR policies and integrating it into core operations. This is where Fiinovation comes into the picture. Proposal Research Laboratory which is complemented by a robust Monitoring & Evaluation Division enables the firm to make a remarkable difference in project implementation. Indian psychology works majorly on short-term gains and lacks farsightedness, but ideally, the country needs to focus on achieving a sustainable development. With a change in the socio-political scenario, new amendments constantly come to the fore. Most of them have vested interests, either of the state or the center, which in turn gives a new direction to corporates. In order to cope with the modifications, corporates have to change their strategy time and again, leaving CSR initiatives and programs less impactful. CSR activities are carried in three stages, Literature review and secondary research, primary research, which involves the collection of data, and then Analysis.
- CSR Policy Design devising and formulating the righteous CSR policy and guidelines are the key elements for the businesses to consider the holistic and inclusive growth of the organization
- Initiative Design & Management for Corporations: Fiinovation offers an exclusive practice in the form of CSR Policy design & Project Management for corporations in designing the requisite programme and its management
- Initiative Design & Management for SME’s: Owning to the different sets of requirements in the SME sector, Fiinovation, has customized its practices of CSR Policy Design & Implementation for approaching the socio-economic growth and sustainable development through the SMEs as per the need of the community wherein the businesses are operational
- Monitoring & Evaluation-Need, Baseline, Mid-line & Impact Assessment: Fiinovation offers assistance to the regulators, donors, policy makers, implementers, and other stakeholders to sustain and enhance the Shared Value through customized Result Based Management (RBM) framework for their programmes and analyze the effect of their initiatives that they have conducted
- Partnership management caters to the interest of both, the Corporation and Civil Society Organizations (CSOs)
Founder, Director and Chief Executive Officer / Social Entrepreneur
Dr. Soumitro Chakraborty is driven by the need to bring about constructive and significant social change, he meticulously strategized and implemented several noteworthy CSR and Sustainability programmes across India in partnership with diverse corporations and NGOs. Over the years, he proved his determination by converting challenges into opportunities and delivering quality, effective and strategic solutions to organizations for social initiatives at a grass root level, aiming at inclusive growth. Backed by a rich sectoral experience, Dr. Soumitro serves on the board of several organizations as an advisor on sustainable development, CSR and environmental management. Additionally, he serves as a visiting faculty to premier institutions and counsels the CII series on “CSR and Affirmative Action” and Institute of Directors – “Masterclass for Directors” on ‘Sustainability – Corporate, Social and Environmental Responsibility.’ His profound command in the subject has earned him the honor of being an influential keynote speaker at various national and international conferences while penning articles for leading national publications. Dr. Soumitro has recently been conferred with the ‘Most Admired Leader Award in CSR & Sustainability’ in Mumbai and been acknowledged with numerous accolades for his dynamic leadership. He is an active Committee Member of the CII Northern Regional Committee for Affirmative Action and CSR & Gender Equality. He is also the Chairperson – Centre for CSR & Sustainability Excellence and Director to VAC Technologies Pvt. Ltd.
Awards and recognition
- S. Chakraborty was recognized with the Most Admired Leaders Award 2017 for CSR & Sustainability in Mumbai
- He is recipient of the ABP News Presents CSR Leadership Award – ‘CSR Leadership’ at the World CSR Congress in Mumbai on 17th Feb 2017
- Honoured with the ‘International Socrates Award “Queen Victoria” for ‘commitment, dedication and achievements in innovative social initiatives in CSR & Sustainability’ to Dr. Soumitro Chakraborty, CEO – Fiinovation by the Europe Business Assembly at Oxford, United Kingdom in March 2016
- S. Chakraborty was conferred with the ‘CSR Team of the Year’ – Global CSR Excellence & Leadership Awards 2015 and ‘Caring Company Award’ at the World CSR Congress on 18th February in Mumbai
- He was bestowed with the medal of ‘Manager of the Year’ & ‘Best Enterprise of the Year – in the field of Health, Education, Environment and Livelihood with a focus on CSR & Sustainability’ by the European Business Assembly, the Socrates Award Ceremony at the Summit of Leaders 2014 in Oxford, United Kingdom.
- Recipient of the ‘Best Innovation: Product or Service’ award at the Social Innovation Awards, 2014 at the World CSR Day, Mumbai.
Fiinovation’s prestigious client list consists of Goa Carbon, Bharti Infratel, Uflex Limited, Flex Foods, PI Industries, Laurus Labs, IL&FS-Skills, JK Tyre, Mytrah Energy, Pipavav Railway Corporation, RPG Foundation & KEC International, amongst others. The firm has also collaborated with Uflex Pvt. Ltd, Flex Foods, PI Industries, Laurus Labs, IL&FS – Skills, JK Tyre, Mytrah Energy, RPG Foundation and KEC International Limited, Pipavav Railway Corporation Limited, Laurus Labs amongst others.
Maharaj Vinayak Society, Jan Parivartan Sansthan, Harsha Trust, Bal Mahila Vikas Samiti, AROH Foundation, People’s Forum, Centre for Youth Development and Activities- CYDA and People Education Association for Community & Environment and others.