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.

Among the 10 impressive What’s Next YYC finalists who are using the power of business models to solve social problems is the Indigenous-run social enterprise Colouring It Forward. Colouring It Forward produces and sells colouring books and other products developed with Indigenous artists and elders to help to share (and preserve) the beautiful artwork and ancestral wisdom of our Indigenous peoples and promote reconciliation through the arts.

It is no secret that ideation is HARD, especially when you are tackling complex issues. That is why Mount Royal University’s (MRU) Institute for Innovation and Entrepreneurship and the Trico Charitable Foundation are excited to launch the Social Entrepreneurship Sprint this August!

WINS has continued to “think differently” when trying to operate in a difficult economy and navigate the COVID-19 pandemic. WINS had to reimagine how they combined the social and entrepreneurial so they could enhance their revenue and social impact at the same time – the ‘secret sauce’ of social entrepreneurship. Of course, the enhanced revenue, in turn, goes to fund even more social impact.

The Trico Changemakers Studio is home to a diverse group of businesses, organizations, agencies and individuals working on changemaking in various forms. Over the past 2 years, they have been home to 20 organizations from different sectors, including amazing social enterprises.

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