Experimental Entrepreneurship: Removing the ’Tin Cup Dependencies’
Thursday, January 26, 2006
…the Botswana project illustrates a new concept they have developed in a study called “Societal Wealth Creation via Experimental Entrepreneurship.” The idea is to promote philanthropy which supports business entrepreneurship under a for-profit model that attacks social problems and creates new societal wealth.
Based on four experimental entrepreneurial philanthropy programs that are already in progress, including the one in Botswana, the Snider Center hopes to attract philanthropists to fund university research that can identify potential business opportunities and set up pilot programs to carry them out. Once this happens, the Center anticipates that local entrepreneurs will join these businesses and increase what MacMillan calls the “social wealth of a society.”
“A lot of times, courses in social entrepreneurship get tagged with non-profits,” says Emily Gohn Cieri, managing director of Wharton Entrepreneurial Programs. But this doesn’t have to be the case. “We are looking at building for-profit businesses that will or can alleviate some of the societal problems around the world. The more the business grows, the more the problem is alleviated, the more the issues are solved.”
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