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Background and Opportunity

As the fifth largest economy in the world, California has a unique window of opportunity for driving at-scale transformation that redefines the role of business in society and advances a truly sustainable and inclusive model of capitalism.

In partnership with The California Governor’s Office of Business and Economic Development (GO-Biz), The Fourth Sector Group is working with a network of partners across the state to stand up an ambitious initiative to support the transformation of California’s economy toward a stakeholder model of capitalism by charting a path for establishing and scaling the fourth sector.


Organizations that make up the fourth sector of the economy – known broadly as purpose-driven or for-benefit enterprises – combine market-based approaches of the private sector with the social and environmental aims of the public and nonprofit sectors to address pressing challenges. They come in a wide variety of models, from mission-driven businesses, social enterprises, sustainable businesses, to cooperatives, social purpose corporations, benefit corporations, faith-based enterprises and more. 


Harnessed effectively, a thriving fourth sector can help California address its economic development priorities: reviving economic mobility across all regions of the state; providing access to quality jobs, housing, healthcare, and education for all; maintaining the state’s leadership in innovation; preparing the workforce for the future of work; and ensuring a clean and healthy environment for future generations.


The Meeting


Hosted by World Economic Forum Centre for the Fourth Industrial Revolution, this gathering will bring together a group of leading voices from business, finance, civil society, philanthropy, government, academia, and other sectors to help shape a statewide effort to accelerate the growth of for-benefit enterprise and investment.


The discussion will inform recommendations for State policy and action, and surface opportunities for collaboration and engagement. Together we will explore barriers and opportunities, and develop concrete proposals for how State policy could help accelerate the transition to a more sustainable and inclusive stakeholder capitalism in California by more actively enabling for-benefit business models in the technology and other sectors of the economy. 

Your contribution to this discussion and broader initiative would be invaluable, and we really hope you can join us. 

Please note that space is limited and attendance is by invitation only. Invitations are not transferrable without prior confirmation, except to a senior designee from your organization.


Heerad Sabeti
CEO, Fourth Sector Group
Lenny Mendonca
Chief Economic and Business Advisor to Governor Gavin Newsom; and Director, Governor's Office of Business and Economic Development
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Richard Samans
Managing Director, Member of the Managing Board, World Economic Forum  
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Scaling California's

For-Benefit Economy

Leveraging the Fourth Sector and the Fourth Industrial Revolution to Advance Stakeholder Capitalism



3:00 - 6.30

Reception 6:30 - 7:30

World Economic Forum,
Center for the Fourth Industrial Revolution,

San Francisco, CA

Date &



November 25th, 2019

3:00 - 6.30, Reception 6:30 - 7:30

World Economic Forum,
Center for the Fourth Industrial Revolution

1201 Ralston Avenue, San Francisco, CA

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