FAQ: What’s the Definition of Social Entrepreneurship?

This is a blog series dedicated to the frequently asked questions we get during the Ask Me Anything About Social Enterprise (AMAASE) sessions. One frequently asked question we get asked is “what is the definition of social enterprise?”

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Prizes of $270,000 celebrate all stages of social enterprises across Canada

At its core, social entrepreneurship uses business models/ markets to solve social problems. Regardless of whether it’s an individual or an organization, regardless of their choice of incorporation- non-profit or for-profit, these elements are the driving and amplifying force.

We support social entrepreneurship.

We are a private foundation that believes in supporting social entrepreneurship through programmatic, grant making, and partnership approaches. We take a systems view to every decision we make and foster social entrepreneurship by supporting the ecosystem and providing social entrepreneurs with capacity building resources.

We are entrepreneurial.

We believe in making social entrepreneurship mainstream. We know we can’t do it alone. Which is why we don’t just fund organizations; we work with them and learn with them to move the sector forward, taking risks along the way.

Social entrepreneur Aishwarya Khanduja firmly believes in pursuing her passions to their fullest extent, and there are plenty of examples of her doing so. The Trico Foundation had the privilege of working with Aishwarya when she joined the team as 2019’s summer student social entrepreneur, where she developed her social enterprise LoopEducation as she brought her venture through our A.S.E.S.S. process.

As one of our favourite examples of a Canadian social enterprise, a 2013 Social EnterPrize recipient, EMBERS Staffing Solutions (ESS) continues to excel by using the power of business models to solve social problems. Since the last time we touched base with Founder and CEO, Marcia Nozick in early 2019, ESS has paid 9.2 million in wages and benefits and grossed 11.6 million in sales.

Happy New Year! The start of 2021 gives us the opportunity to reflect and learn from 2020. Although 2020 came with its many challenges, the past twelve months were busy, historic, and made great progress in advancing both social entrepreneurship and Calgary's role as a hub for social entrepreneurship.

Not only does the Biosphere Institute of the Bow Valley (Biosphere) offer award-winning education, research, and community engagement programs, they also continue to serve as a community resource centre, maintaining thousands of records on local ecology and planning in their public library. Biosphere is now looking to undertake business and financial planning for a new social enterprise they helped to create, called Bow Valley Green Energy, to prepare it to accept investments in community-owned and-managed renewable energy projects.

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