SOCIAL ENTREPRENEURSHIP
Social impact investing is a growing field, but access to capital remains a significant challenge for social enterprises. Universities can bridge this gap by hosting workshops with impact investors, facilitating angel investor networks and connecting student ventures with potential funding sources. Many governments offer grants, tax breaks and other support structures for social enterprises. Universities can serve as a resource for social entrepreneurs, navigating the complexities of government support programmes and advocating for policies that bolster the environment for social impact ventures. Moreover, social enterprises often collaborate with non-profit organisations – leveraging their expertise and connections – and is something that business schools can easily facilitate. The institutional architecture of social change yearns for the bold brushstrokes of educational institutions. By reimagining their curricula as vibrant tapestries woven with social impact threads, embracing experiential learning as an apprenticeship with the world’s most pressing challenges and fostering a culture of social entrepreneurship as a fertile ground for audacious ideas, universities can cultivate a new generation of business leaders – not merely graduates, but architects of a future cathedral. This is a future where financial success and social impact are not competing spires, but rather the intertwined buttresses that hold this edifice aloft. This transformation transcends the confines of academia, rippling outwards to reshape the business landscape into a testament to human ingenuity, forging a path towards a more equitable, sustainable and impactful tomorrow. Educational institutions, wielding the chisel of strategic design, have the power to sculpt the institutional framework for social change. They stand poised as the catalysts – the midwives, even – of a thriving social entrepreneurship ecosystem, leaving an indelible mark on the world and a testament to the transformative power of education.
key stakeholders within the ecosystem. Business plan competitions, social impact workshops and networking events can further facilitate connections. Moreover, educational institutions can play a pivotal role in connecting social enterprises with the communities they serve. Students can be involved in needs assessments, co‑creation workshops and pilot projects, fostering a mutually beneficial relationship between social enterprises and their target communities. Business schools can use a number of strategic levers to translate this responsibility into action; take for instance curriculum integration, something that can ensure social entrepreneurship principles are not relegated to elective courses alone. Core curricula can be infused with case studies highlighting successful social enterprises, modules on social impact measurement and discussions on the ethical implications of business decisions. Such integration normalises social impact as an integral part of effective business strategy. Beyond theoretical knowledge, practical experience is vital. Business schools can incorporate social entrepreneurship projects into their curricula, where students work with real-world challenges, design solutions and engage directly with social enterprises. This fosters a deeper understanding of the practical realities to be found in this field. Connecting aspiring social entrepreneurs with experienced professionals is another useful tool, as it provides invaluable guidance and support. Mentorship programmes can be formalised within the institution or leveraged through partnerships with social In today’s complex world, success rarely exists in isolation. Whether it is leading a ground-breaking research project, launching a revolutionary start‑up or dealing with the intricacies of a social cause, fostering a robust network of key stakeholders is paramount. These individuals and groups hold the potential to significantly influence your endeavours – by providing crucial resources, offering valuable insights and amplifying your reach. innovation hubs and impact investors. Fostering a robust network By understanding the importance of stakeholder engagement and implementing the following tactics, schools can unlock the power of connection and propel initiatives towards impactful success. The social entrepreneurship ecosystem thrives on collaboration and educational institutions play a key role in fostering connections and interactions with other critical stakeholders.
Navya Gubbi Sateeshchandra is a professor at Berlin School of Business and Innovation in Germany. Navya’s experience spans more than 12 years of working at universities, NGOs and government ministries. She specialises in institutional economics, the economics of development and growth, sustainable development and public policy. Navya has been published extensively in a number of renowned journals and holds certifications in sustainability coaching and instructional design
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Business Impact • ISSUE 2 • 2024
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