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Tag: social entrepreneurship

  • How Social Entrepreneurs Are Changing the World | Entrepreneur

    How Social Entrepreneurs Are Changing the World | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a rapidly evolving world facing an array of pressing challenges, the rise of purpose-driven entrepreneurship has emerged as a beacon of hope.

    Social entrepreneurs are individuals who use entrepreneurial principles, innovative thinking and business acumen to create positive and sustainable social or environmental impact. They are driven by a strong sense of purpose to address pressing societal challenges and improve the well-being of communities and the planet.

    Social entrepreneurs apply the same entrepreneurial mindset used in traditional business ventures to develop innovative solutions to complex social problems. Their primary goal is to generate positive outcomes rather than solely seeking financial profit. They often work to empower marginalized groups, improve access to essential services, address environmental issues and promote social justice.

    This article delves into the transformative force of purpose-driven ventures, exploring their sustainable impact and the supportive ecosystem propelling their success.

    Related: 3 Steps to Forge Your Company’s Purpose-Driven Path

    The emergence of purpose-driven ventures

    Traditionally, entrepreneurship has been associated with profit-driven motives, but a paradigm shift is underway. Social entrepreneurs have recognized that addressing societal and environmental challenges requires more than just good intentions; it demands a sustainable approach that integrates purpose into business strategies. These visionary leaders view challenges as opportunities and harness the power of innovation and empathy to create lasting impact.

    For example, Patagonia, founded by Yvon Chouinard, is a renowned outdoor apparel company that embraces sustainability and environmental responsibility as part of its core mission. They prioritize eco-friendly materials, minimize waste and actively support environmental causes through campaigns like “1% for the Planet,” where they donate a portion of their revenue to environmental initiatives.

    The power of profit and purpose alignment

    Contrary to the notion that profit and purpose are conflicting concepts, social entrepreneurs have unlocked the potential of aligning the two forces for the greater good. By imbuing their ventures with a meaningful mission, they attract a loyal customer base and engage employees who are deeply committed to the cause. This alignment fuels passion, creativity and dedication, propelling these purpose-driven ventures towards remarkable success.

    A good example is Warby Parker, an eyewear company co-founded by four friends (Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider), which has a “Buy a Pair, Give a Pair” business model. For every pair of glasses sold, they provide a pair to someone in need through partnerships with nonprofit organizations. This alignment of profit and purpose has resulted in both business success and significant social impact.

    Related: How to Build a Business that Makes a Positive Impact

    Driving sustainable impact

    One defining characteristic of purpose-driven entrepreneurship is its commitment to sustainable impact. Social entrepreneurs look beyond short-term gains, focusing on solutions that create lasting change. Whether it’s tackling environmental issues, empowering marginalized communities or improving healthcare access, these ventures invest in projects with far-reaching and enduring effects, leaving behind a positive legacy for generations to come.

    Green School, for example, founded by John and Cynthia Hardy, is an innovative, eco-focused school in Bali that integrates sustainability, environmental education and holistic learning into its curriculum. The school’s unique approach empowers students to become changemakers, fostering a generation of environmentally conscious leaders.

    Inspiring stories of social entrepreneurs

    Tony Elumelu is a visionary entrepreneur and philanthropist who has become a leading example of purpose-driven entrepreneurship. As the founder of The Tony Elumelu Foundation, he is empowering African entrepreneurs to drive sustainable economic growth and social development on the continent. Through his foundation’s flagship initiative, the Tony Elumelu Foundation Entrepreneurship Programme (TEEP), Tony Elumelu has provided mentorship and training to 1,500,000 and seed funding to 18,000 young African entrepreneurs.

    There’s also Kiva, an online micro-lending platform, co-founded by Jessica Jackley and Matt Flannery. It connects individuals looking to lend small amounts of money (as little as $25) to entrepreneurs in developing countries. This peer-to-peer lending model empowers entrepreneurs to start or grow their businesses, with the goal of lifting them out of poverty.

    The support ecosystem

    Behind every successful social entrepreneur stands a supportive ecosystem that nourishes their vision. Impact investors, philanthropic organizations and government initiatives play a pivotal role in nurturing purpose-driven ventures. The collective effort of these stakeholders provides access to capital, mentorship and networks that amplify the ventures’ reach and potential.

    Related: 3 Steps for Making a Positive Environmental, Social and Governance (ESG) Impact

    Spreading the movement

    The rise of purpose-driven entrepreneurship is not an isolated phenomenon. It is part of a global movement towards a more sustainable and equitable world. As these social entrepreneurs blaze a trail, they inspire others to follow suit, creating a ripple effect that catalyzes positive change across industries and borders.

    B Corporations, also known as B Corps, are businesses that meet rigorous standards of social and environmental performance, accountability and transparency. These Save & Send for Review companies include Patagonia, Ben & Jerry’s and Seventh Generation, among others. The B Corp movement is spreading globally, inspiring businesses to pursue not just profit but also purpose and positive impact.

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  • The First Ethical Marketplace From Eastern Europe Launches to the Global Market

    The First Ethical Marketplace From Eastern Europe Launches to the Global Market

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    Press Release
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    updated: Sep 26, 2017


    MORGANVILLE, N.J., September 26, 2017 (Newswire.com)
    –
    The first ethical marketplace from Eastern Europe Three Snails.com announces the launch to the global market. Being started in Ukraine in 2015, Three Snails offers handicrafts made from natural materials and allows conscious shoppers to buy trendy items created by local artisans while making a positive impact.

    Three Snails team believes that the success story of such marketplace and knowledge about local artisans can create the development direction for CIS countries and to enable large sections of society to escape from the difficult economic situation.

    Artisans and their craft have the potential to become the ‘super story’ of Ukraine.

    Olena Vechkanova, Three Snails founder

    The idea to create Three Snails came up as a response to the global demand for uniqueness and diversity, as well as a growing trend for ethical shopping. More and more people value emotions, energy, legend and symbols incorporated in goods. They want to know who made these products and how production affected the environment. The founders state that craftsmen and small responsible manufacturers can totally meet these demands.

    “Artisans and their craft have the potential to become the ‘super story” of Ukraine,” tells the founder, Olena Vechkanova. Because we have everything that people value and want in today’s world: eco-friendly techniques, natural materials, craft traditions, legends, culture, and people who love what they do.”

    In the world people know a lot about artisans and culture of Asian, African and Latin America countries, but not much about Ukraine or other CIS countries. Meanwhile, Ukraine is the second largest country in Europe with very strong craft traditions which are kept for centuries. Here many people historically made a living from crafting goods and passed their knowledge from generation to generation. Nowadays nearly 17 percent of the population practices traditional crafts as means to an income and each fourth woman masters at least one handicraft technique.

    However, giving the political and economic situation in the country, the average salary has dropped down dramatically (for rurals it is as little as $50-150 per month) and it became quite hard to sell handmade on the local market. Many craftsmen faced the economic crisis, became disappointed and waived their art in favor of any lucrative career. Very often, in order to sustain their families, artisans were forced to move to the bigger cities or abroad and look for a low qualified job. Their houses and even villages remain empty and with that, the nation automatically loses its craft traditions and culture.

    Three Snails aims to change the situation. Its mission isn’t merely to provide a platform but to empower local artisans and promote Ukrainian culture. The team of Three Snails seeks to give artisans A CHANCE TO stay in Ukraine, to live in their families, to do what they love and to follow national identity.  

    TS doesn’t work as a classical marketplace. The team works directly with rural communities and artisans in order to include also those who don’t use internet (for now only 53 percent of the population in small villages and mountain areas are connected to the internet). People from such regions don’t have PayPal accounts, good photos or product description and very often — no believes that what they do might be in demand abroad. TS fills this gap providing all educational, marketing and service support necessary to succeed in today’s world.

    Once limited to village markets or tourist shops, Ukrainian handmade now can easily be accessed by anyone, anywhere. TS not only connects artisans with consumers but also bridges modern trends with old traditions and symbols, contemporary needs with historical eco-friendly craft-making techniques.

    In the era of globalization, the internet provides opportunity to discover huge territories of CIS countries that, surprisingly, are still isolated from the global community. At this point handmade serves as the link between two worlds and reveal a huge reserve of senses, warmth and unique knowledge which are kept inside Eastern European countries.

    Additional materials:

    More information about Three Snails

    Three Snails photos and video

    Three Snails on Kickstarter

    For more information, please contact:

    Olena Vechkanova​
    +38 067 232 93 10​
    ​lv@three-snails.com

    Source: Three Snails

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