Giving Compass' Take:
- Social entrepreneurship has the ability to accelerate growth and progress on social issues, including issues that arise due to COVID-19.
- How can donor capital help drive progress in social entrepreneurship?
- Read more on how social entrepreneurs are responding to the pandemic.
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Social entrepreneurs are unparalleled catalysts of social change. They question critical social issues, find innovative solutions and mobilise resources as well as communities to address pressing problems in the country. Based on the problem at hand, target segment, and their impact vision, they set up NGOs or social enterprises.
In the last 10 years, in my social sectors journey, I have met 500 passionate individuals who are solving or wanting to solve a social issue that they have experienced or closely witnessed. Whether it be growing up with a sibling with intellectual disabilities, or being/meeting a victim of sexual abuse, or the tragic consequences of economic loss, or distressed by ecological degradation, the list is endless. Social entrepreneurs dedicate their time, risk their capital, and pool resources to move the needle on the ground.
The Government of India through NITI Aayog has been designing solutions and schemes to address India’s key problems. Public institutions, however, have their limitations on experimentation, nimbleness and flexibility, especially when creating customised solutions for last-mile vulnerable populations. Socially conscious corporates, individuals and NGOs have been working on the ground since Independence.
New, catalytic innovation will be the need of the hour in a post COVID-19 India. Whether it is improving the livelihoods of farmers, or raising awareness around gender equality, or up-skilling youths to empower families trapped in a poverty cycle, or making mental well-being available across the spectrum, the value and depth of the work of social entrepreneurs will have a cascading effect over generations to come.
To fully address global crises and alleviate harm to vulnerable communities, I believe social entrepreneurs need long-term, unrestricted support to re-build and reimagine systems that address issues rather than exacerbate them. “Entrepreneurs have the ability to hit the bullseye that no one sees versus the target that everyone sees.” This quote by Lyft CFO, Brian Roberts, sums the irreplaceable value of social entrepreneurs.
Read the full article about social entrepreneurship growth amid COVID-19 by Anshu Bhartia and Naomi Menezes at avpn.