As the world grapples with complex social, environmental, and economic challenges, a new breed of entrepreneurs has emerged to offer innovative solutions.
“Social entrepreneurs are neither philanthropists nor business tycoons, they are change makers with strong will,” said Noopur Jhunjhunwala, Trustee and Co-founder, Changeinkk while speaking at the BW Social Impact 2023, hosted by BW Disrupt.
Social entrepreneurship, which combines business principles with a strong social conscience, is gaining momentum globally and creating a positive impact. These change makers are not only creating sustainable businesses but also positively impacting society, experts in the panel session mentioned.
Shefali Chhacchi, Co-founder and Partner of Hearth Ventures, highlighted, “The essence of social entrepreneurship lies in change, creative and circular economy to meet the modern-day demands. By connecting people to people to meet their demands.”
Notably, social entrepreneurship is all about identifying societal problems and developing creative solutions that benefit both the community and the environment.
It takes entrepreneurial skills to develop sustainable models that address pressing issues such as poverty, inequality and climate change. Social entrepreneurs are driven by a strong determination to make a positive impact while ensuring financial stability.
Satyam Vyas, Founder, Arthan and Climate Asia emphasised, “Today’s generation must come out of the mind-set that doctors and engineers are the only careers. Social entrepreneurship is a stable career with growth opportunities and respectable job for those who can find innovative solutions to community problems.”
In the present world, social entrepreneurs are tackling various challenges head-on, using innovation and technology to drive change. Technology helps people to reach wider communities and increase visibility.
Jayant Rastogi, Global Chief Executive Officer, Magic Bus India Foundation, believes that social entrepreneurship offers vast opportunities for those who want to make a difference. “If you have the passion and will to empower communities and create positive change, there’s no shortage of possibilities,” he added.
Experts noted that anyone can become a social entrepreneur; all it takes is passion, creativity, and a burning desire to make a difference. Industry leaders suggested that people should leverage technology, collaborating with like-minded individuals, and never being afraid to think outside the box.
“Unfortunately, social entrepreneurship has been unrecognised and most underrated. Today, India has more than three million communities who are creating a positive impact in rural and urban landscapes. Social sector has huge capital in the form of Corporate Social Responsibility (CSR) but lack innovative minds” asserted Abhishek Dubey, Founder and Chief Executive Officer, Muskaan Dreams.