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Harvard Law School announced yesterday that it would create a $1 million fund to provide “seed money” for students entering careers in public service, replacing the third-year tuition waiver program suspended early last year...
...Public Service Venture Fund will award students with one-year grants ranging from a few thousand dollars to as much as $80,000 to supplement salaries in the public sector or to start non-profit organizations. Alexa Shabecoff, the Law School’s assistant dean for public service, said that the amounts awarded may vary depending on student interest and need...
...We’re not a real venture fund. And even a real venture fund does not give any sustained support,” said Wilkins, who was consulted during the creation of the fund...
While private sector firms can rely on consultants and venture capitalists to raise money for start-ups, social enterprises largely lack a similar infrastructure, said Alan A. Khazei ’83, a Law School graduate who is advising the fund...
...this has happened - and there's no rulebook for how it should be done. There's been little agreement so far on the details of a possible rescue plan or even who should take the lead. Some investors think any bailout should be the responsibility of the International Monetary Fund, not other E.U. countries. "A large-scale bailout would make taxpayers across Europe liable, either directly or indirectly, for the mistakes of a government over which they have no democratic control. Such a policy simply isn't reasonable and lacks public support," says Pieter Cleppe, head of the Brussels office...