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Why Social Entrepreneurship is Vital to the SDGs: 15 Award-Winning Entrepreneurs Share their Insights
In recent months, the global development sector has faced some unwelcome news: The world is not on track to reach the Sustainable Development Goals (SDGs). But there is still cause for optimism: The ongoing growth of social business points to possible ways to overcome this slow progress. Mark Horoszowski, CEO of MovingWorlds.org, met with award-winning social entrepreneurs from around the world at the recent SOCAP conference, and asked them how entrepreneurship can help achieve the SDGs. Their responses, compiled here, highlight many of the reasons the sector is moving to the forefront of the global development agenda.
- Categories
- Social Enterprise
- Tags
- global development, SDGs
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Education + Technology = Equality: An Innovative Learning Platform Aims to Go International
All children deserve an equal education, and most people agree on that goal. Yet globally, tens of millions of children are not in school, and many schools struggle to retain qualified teachers. Suren Aloyan founded the social enterprise Dasaran to address these issues in Armenia, through an online platform that offers interactive learning content and communication and assessment tools to schools, parents and students. Aloyan explores the impact the platform has generated so far – and discusses its plans to scale up.
- Categories
- Education, Social Enterprise, Technology
- Tags
- global development, SDGs
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Chopping Block to Starting Block: How OPIC (Now IDFC) is Writing the Next Chapter in U.S. Development Finance
The Overseas Private Investment Corp. (OPIC) just survived a near death experience. The agency was among the proposed cuts when the Trump administration came into power and began budget negotiations. But with the passage of the BUILD Act, OPIC will transform into the U.S. International Development Finance Corporation, with a new budget and a new set of financial tools. We caught up with David Bohigian, Executive Vice President of OPIC, at SOCAP18 to find out what these changes mean for entrepreneurs and others seeking development finance.
- Categories
- Finance, Investing, Social Enterprise
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Financing the Energy Access Revolution: Three Technologies That Are Driving Africa’s Momentum
Technology has become central to the energy access story in Africa. It’s an essential part of all the key stages of an enterprise’s work – from raising the initial capital and financing the equipment, to designing and delivering the final product itself. And the new possibilities opened up by technology are increasingly seen as potential game-changers, in a region where some 590 million Africans – around 50 percent of the population – are still without access to electricity. Ben Good, the CEO of Energy 4 Impact, explores three areas in which tech-driven approaches – from crowdfunding to cryptocurrency – are making an impact.
- Categories
- Energy, Social Enterprise, Technology
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Big Problem, Small Solution: Can Do-It-Yourself Processing Machines Help Combat Plastic Pollution?
From the viral video of a diver swimming in a sea of plastic, to National Geographic’s major focus on the topic this year, there’s growing public attention on the problem of plastic waste. So there was plenty of excitement when a Dutch engineer’s do-it-yourself plastic recycling machines started gaining traction around the world. Could the devices empower a global army of small entrepreneurs to turn plastic waste into revenue-generating products? The solution sounds appealing, but when Bali-based social enterprise Kopernik assessed its effectiveness, they came across one small problem.
- Categories
- Environment, Impact Assessment, Social Enterprise, Technology
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Navigating Change: A Step-By-Step Approach to Revising a Social Enterprise Business Plan
By 2018, EarthSpark International had already built two micro-grids in Haiti, sold around 18,000 clean energy products, and invented the leading meter for micro-grids, which sold 40,000 units in 22 countries. The company seemed to be primed for a successful future. But EarthSpark faced significant problems, both in terms of profitability and social impact. To achieve its mission, it needed to make major changes to its model. Social business pioneer Eric Carlson describes how the company revised its business plan, using the paradigm from his new book, Building A Successful Social Venture.
- Categories
- Energy, Social Enterprise
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Three Ways Inclusive Businesses Can Become More Customer-Centric
In any successful business, the customer always comes first. However, impact-focused enterprises often paint customers at the base of the pyramid with wide brush strokes, overlooking nuances in culture, location and literacy. Christian Jahn, Executive Director of the Inclusive Business Action Network, understands the desire to "help" poor people – but notes well-intended social entrepreneurs risk ignoring what their customers really want. Instead, Jahn recommends businesses develop a holistic view of customer needs, viewing them through a realistic lens for more meaningful impact.
- Categories
- Social Enterprise
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Finding the Right Financial Partner: Lessons Learned from One Startup’s Success in the Funding World
Kinnos was founded during the Ebola outbreak of 2014, marketing an innovative chemical product that allows even untrained workers to apply disinfectant correctly. Its founders (then students at Columbia University) quickly received more than $750,000 in grants and prizes. But as their company grew, they had to learn to navigate the risky landscape of startup investment. According to Christina Tamer at VentureWell, the Kinnos team's success in this area—they have raised $1 million in venture funding from angel investors—offers a number of key lessons for other entrepreneurs.
- Categories
- Health Care, Investing, Social Enterprise
- Tags
- impact investing, startups
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