Last month, MiracleFeet Executive Director Chesca Colloredo-Mansfeld attended the 2018 Goldman Sachs Builders and Innovators Summit, where she was honored as one of the 100 most intriguing entrepreneurs of 2018.

The Summit, which took place from October 17-19 in Santa Barbara, California, brought together entrepreneurs who are innovators in their fields. Attendees included Abby Falik of Global Citizen Year, businessman and philanthropist keynoter Michael Bloomberg, and Dropbox Founder and CEO Drew Houston.

What Businesses and Nonprofits Have in Common

Although most of the attendees and honorees at the Summit were business leaders, Colloredo-Mansfeld praised Goldman Sachs for recognizing that innovation isn’t needed solely in for-profit ventures. Successful for-profit and nonprofit organizations require a similar skill set, said Colloredo-Mansfeld; although they may look different on the surface, upon closer exploration, there is a great deal of overlap in key competencies.

“Staying focused on delivering the highest quality product – in our case making sure every child receives the best treatment; hiring and retaining the right talent – in our case people who have experience building partnerships in low-income countries or fundraising for global health; embracing technology to reduce costs – in our case, brace design and mHealth tools,” she said, are areas where a fledgling business and international public health nonprofit aren’t so different.

What’s the Role of Innovation?

Providing innovative tools to solve the global problem of clubfoot disability means constant assessment and refinement. Whether it’s a brace sensor study in India to monitor brace compliance and learn about how to better serve patients in this phase of treatment, or the development of a mobile app for providers that functions well in areas without reliable internet, MiracleFeet’s success is bolstered by technology and innovation.

It’s not the whole story, however, cautions Colloredo-Mansfeld. “The reality is that success, whether defined as treating more children born with clubfoot or selling drones, comes from having a clear vision, excellent execution, teamwork, persistence, and an unwavering focus on delivering a great product that people need or want.”

Read more about innovation at MiracleFeet.