NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, May 8, 2012

Social entrepreneurs create innovative solutions for tackling the world’s most vexing social problems.

Whether they’re solving hunger, improving the environment, or fighting for political freedom, these entrepreneurs place social missions at the center of their business activities — aiming to maximize social value instead of profits, though both are important for maintaining a sustainable organization.

As a result, social enterprises come in both for-profit and not-for-profit models, though some believe the secret to a successful social enterprise is acting like a business.

Raviv Turner, cofounder and CEO of Guerillapps — a startup focused on developing social games to support real-world causes — would agree that successful social entrepreneurs are the ones taking queues from their for-profit counterparts. Passion and drive, though, are also essential components.