The Power of Social Entrepreneurship
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Social entrepreneurs are visionary individuals who create innovative solutions to some of the world’s most perplexing social issues to create a widespread change. They are often confused with NGOs whereas the main difference between the two is the revenue model; unlike NGOs, social entrepreneurships have a steady stream of income similarly to regular businesses creating a self-sustainable enterprise. They create socially responsible businesses that aim to generate profit whilst solving social and environmental problems and then implement these solutions on a large scale.
In the MENA region, there has been a rise in social entrepreneurship. The high youth population has been expressing dissatisfaction with the status quo and the socially committed young generation has turned to social entrepreneurship to create a social impact at an accelerated pace.
However, being a social entrepreneur is not an easy feat; it’s tough and challenging and there are several things to consider before being a social entrepreneur. To enable a new generation of social entrepreneurs to create positive change, Chivas launched The Venture, an initiative that calls for innovative businesses that create a positive impact and gives them the opportunity to apply and pitch for a share of The Venture’s $1 million fund, and to gain access to their tools and mentorship to accelerate their growth.
As part of the BDL Accelerate 2015 Idea Stage Startup workshop series and competition themed Reimagining Lebanon , SETT a think tank focused on enabling emerging startup companies, has been offering a series of design-think workshops to empower applicants with the entrepreneurial skills to develop solutions for a better Lebanon. The contestants, who passionately want to create an impact in their community, have been assembled into 8 teams of 3 and each group has been assigned with an issue that they need to address.
If you have a great idea for solving a pressing social issue, do not be discouraged! Society needs you so go ahead and join the world of social entrepreneurship.