What is Social Entrepreneurship, Anyway?

Wikipedia defines a social entrepreneur as someone who “recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change.”

The PBS New Heroes series, which highlights the stories of twelve social entrepreneurs from various parts of the globe, also makes an important distinction regarding social entrepreneurship: unlike traditional business entrepreneurs, social entrepreneurs “primarily seek to generate ‘social value’ rather than profits.” And, unlike many non-profit organizations, their work is targeted “not only towards immediate, small-scale effects, but sweeping, long-term change.”

A recent article from the ever-pioneering Stanford Social Innovation Review also offers an interesting introduction to social entrepreneurship. Along with highlighting real world examples of ‘social businesses,’ the article also offers up substantive food for thought regarding the role business ought to play in addressing societal issues and the distinction between social entrepreneurship, nonprofit management, and philanthropy.

Innovating for the Common Good

Some examples of social entrepreneurship ventures include:

• KickStart International – Revitalizes impoverished communities by promoting sustainable economic growth and employment creation.

• Barefoot College - Provides basic services and solutions to problems in rural communities, in the areas of solar energy, water, education, health care, rural handicrafts, people’s action, communication, women’s empowerment and wasteland development.

• Grameen Foundation - Uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people.

Interested in learning more about social entrepreneurship, or perhaps starting up your own social venture? Here are a few resources to get you started:

• Ashoka.org – A global organization that identifies and invests in leading social entrepreneurs, engages communities of entrepreneur and creates the infrastructure needed to develop social partnerships with lasting social and financial value.

• Social Edge - A program of the Skoll Foundation, this global online community helps social entrepreneurs connect to network, learn, inspire, and share resources.

• Social Venture Network – Ideas, resources, conferences and events geared toward nurturing social entrepreneurship around the world.
  

And please feel free to contact us at The ThinkTank if you have any social entrepreneurship ideas or challenges you would like to discuss.