What are the problem-solving sectors in a society? For many, there are just two: government and business. The space in between is often ignored, but no less important. That space — a third sector between legislative action and for-profit enterprise — has long been one of the most effective in defining and addressing a myriad of social problems.

A new generation of young philanthropists is investing more of their money, and are doing it earlier, narrowing the gaps between commerce and cause. They also demand the same performance and accountability, risk-taking and innovation that they have applied in their start-up models.

So we can already see tangible evidence of the power of civil society and private sector philanthropists to fill in those gaps between market incentives and government prerogatives. Yet this type of transformative action is not limited to billionaires alone.

Read the full article about corporate philanthropy by John Hewko at Medium.