Social Entrepreneurship Takes Off
One of the great pleasures of being at the forefront of a movement like social entrepreneurship is to witness its evolution and progress from the front row. Opportunities to work with new start-ups are the best chance to see what the next-generation of social innovators is doing with the ideas we pioneered.
I recently had the opportunity to serve as a mentor to three up-and-coming social entrepreneurs in Chicago who focus on education and youth development outcomes.
It was part of a unique forum hosted by the social entrepreneurship accelerator Impact Engine in partnership with the Kelogg School of Management. Along with J.R. Kerr of The Curation Group and Prof. Linda Darragh of the Booth School of Business, I met with some of the most promising local leaders to share ideas and insights.
These new companies provide financial literacy training for young people (Moneythink), entrepreneurship opportunities for youth and others with limited exposure to business education (Starting Up Now), and content and social supports for new parents (KickSprout). During the course of the mentoring sessions we discussed both the business impact and growth prospects of their companies and I helped them understand how to best measure and communicate their social impact.
A decade ago, the very concept of a business that focused on generating both profit and social value was revolutionary. Sure, many companies had CSR policies or provided some service for social good. But the idea of a true social entrepreneur was vanguard.
It’s still outside the mainstream today, but that’s changing fast. Thanks to the many leaders in the field, there is now a market dedicated to exploring, supporting, accelerating, and growing social entrepreneurs.
Based on my brief experience at Impact Engine earlier this month, and thanks to the great collaboration with J.R. and Prof. Darragh, I am energized by the creativity and energy around sustainable (read: profitable) social impact. I’m also encouraged by the professional, community and academic resources that are being brought to bear to advance that work—particularly the Midwest—and support its future.




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