What is a social entrepreneur, they are individuals or group of individuals with innovative ideas to solve the world’s most pressing social problems. They do that by making and creating new products, materials and systems and solutions to make change in peoples lives. They seize every social opportunities and then they take that opportunities and motivate and drive to go after the solutions which also means that they would face the risk of whatever happens for the benefit of the people.
CHANGE AGENTS and Disrupters
The concept has been around for a long time. Think about the one who Florence Nightingale on the way she revolutionize nursing and Mohammad Yunus and his creation of micro-finance industry and organizations like one acre fund where they are working a way for small holder farmers can grow and produce agricultural products and reduce hunger. Traditional development programs often not have done that well.
Social enterprises must have higher accountability than their constituencies. They must have greater relationship to their consumers in order to develop the right product that will take off. certainly there must work in the development side is fuming about the problems in that regard. questions like is this product helping our consumers or does this go global? USAID for example is investing in entrepreneurial in ecosystem trying to build up the sort of environment that will entrepreneur to go and flourish.
another critical challenge is access to capital its not just the seed funding stage but it is that critical middle stage where companies are looking to scale but might not be able to access capital. but again development actors try to fill in that gap. In 2014 we saw the creation of Global Innovation fund by group of some donor and some actors.
There’s always conflicts and confusion in the profit matters for social entrepreneurs.
social enterprises can be not for profit or non profit. Sometimes its going to be a market base solution where companies and the other party will be break even. In other cases the transformation characters system will bring in financial gains when brought through scale. The international community is increasingly see the roles what can change the global challenges. The community also see that and learning from them and they are learning in risk taking because if you are going to invest in social entrepreneurs you have to be willing to take risk within it. YOu might learn risk and iteration because social entrepreneurs have to tinker with it until they get it just right.
Benefit of social entrepreneurship also is seen as a job creation tool. In many developing countries if there is not much big companies, there is increasing social entrepreneurship opening jobs for them.
One thing is one clear social entrepreneurship is vehicle in opening job creation and see the development of continuous innovation.