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@carlabonina
Doing well and doing good: why you should turn into social entrepreneurship
Lessons from Latin America and the world
Dr Carla Bonina
Assistant professor in innovation and entrepreneurshipSurrey Centre for the Digital Economy
1. Why social entrepreneurship now
2. What is it and what it means achieving social goals
3. The rise of impact investing
@carlabonina #SMWMexico
Build products
that people want
@carlabonina #SMWMexico
Build products
that people need?
@carlabonina
Doing good and doing well at
the same time?
@carlabonina
Question time
60% of millennials (generation Y) prefer buying products or services from ethical companies
Two thirds volunteer for causes they care about
Two thirds prefer working for a company that makes a difference
Source: Millennial Impact Report 7
The values revolution
What is it
What is Social Entrepreneurship?
Philanthropy/Charity
“Give someone a fish and you feed them for a day…”
The NGO/Government Model“…show him how to catch fish, and you feed him for a lifetime”
Social Entrepreneurship
“Provide him access to capital to create a sustainable fishing business at a fair rate of return… and change the world”
Social Entrepreneurship
Social entrepreneurship is the process of pursuing innovative solutions to social problems
http://en.wikipedia.org/wiki/Social_entrepreneurship
11
Mohammed Yunus
We have described and keep on describing organisations motivated by social objectives as non-profit organisations. We need to have another description: ‘non-loss ’organisations, because we don’t want to lose money and our objective is to address a particular problem. So we are non-loss businesses with social objectives
-- Mohammad YunusFounder of the Grameen Bank
13
Social entrepreneurs are not content just to give a fish, or teach how to fish. They will not rest until they have revolutionized the fishing industry
― Bill Drayton, Ashoka Founder and CEO!
Social entrepreneurship is cross boundaries - social movements, strategic management, entrepreneurship, non-profit literatures
• Financially sustainable ventures that generate social value (i.e. Robinson, 2006)
• Outcome of social innovation (i.e. Bornstein,
2004)
• NGOs using business principles (i.e. Austin et al.,
2006)
Entrepreneurship with embedded social purpose and the underlying drive to create social value
Common denominator:
leveraging resources to address social problems
17
Social entrepreneurship (revisited)
Examples
Three key characteristics
Social entrepreneurship meets needs unmet by commercial markets and (usually) the government
Social entrepreneurship is motivated by social benefit
Successful social entrepreneurship usually works with, not against, markets
Why now?
How do you raise money for socially oriented ventures?
The Global Impact Investing Network
http://www.thegiin.org/cgi-bin/iowa/network/members/index.html
Impact investing
“to build a worldwide industry for investing for social and environmental
impact”
Underlying idea: social ventures lack access to capital in order to build a sufficient scale to
address social and environmental challenges they are facing (Rockefeller Foundation 2007)
Impact Investing
Source: Vecchi et al, 2014
Source: seedingfactory.com/
Thursday, 11 June 2015 31
@carlabonina
Why now
The values revolution: doing well is not enough
Entrepreneurship and social good
Impact funding growing and becoming the trend for many investments
You can make an impact and generate revenues: you don’t need to work against markets
You can change the world
What are you going to do to about it?
@carlabonina
Gracias!
Dr Carla Boninac.bonina (at) surrey.ac.uk
http://www.surreydigitaleconomy.org/
