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Social Impact-Driven Entrepreneurship

By 12 March, 2019 No Comments

Entrepreneurs are finding new ways to achieve both profit and social gains

Guest post: Leanne Kemp, Queensland Chief Entrepreneur

 

In recent years, there has been a significant increase in social entrepreneurs who are driven by a desire to help the disadvantaged, solve social problems like access to affordable health care, and alleviate poverty.

A number of tech-savvy Queensland entrepreneurs are applying their skills to business models that can have a positive impact – and in a financially sustainable way. That’s an important new twist on the traditional social enterprise, which largely relied upon charity or public funding.

This new class of entrepreneurs is enabled by so-called impact-investors and venture-philanthropists who apply the discipline of the traditional venture capital investment model but are also willing to accept lower financial returns in exchange for having an impact.

The proliferation of socially-conscious consumers in advanced economies should accelerate the development of social-impact driven entrepreneurship. New organisational forms, such as the so-called “B Corps” and “Benefit Corporations” that are certified to meet a standard of social and environmental performance and take into account both the financial and social bottom lines, also support this trend.

There are thousands of registered benefit corporations in the world, including ice cream maker Ben & Jerry’s, and e-commerce website Etsy.

Find out more at QODE Brisbane, 2-3 April.