Bow Valley College and Women In Need Society (WINS) have partnered to launch a new on-campus thrift store that combines affordability, sustainability, and hands-on learning. The initiative gives students access to low-cost essentials while creating real-world learning opportunities in social enterprise and community impact.
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We define social entrepreneurship as using business models (selling a good or service) to enhance social impact. This reflects most Canadian definitions.
Many see the social and the entrepreneurial as being in opposition, like two sides of a scale that needs to be balanced. Instead, we see the social and the entrepreneurial as partners in progress.
We support a social entrepreneurship movement that dares to ask, “How far could we go in solving the world’s problems, and even fulfilling our potential as human beings, if we fully harnessed the power of business models to enhance social impact?”
The first biennial What’s Next YYC was held in November 2019 and from the outstanding pool of 10 finalists, Beaverlodge was one out of three Judge’s Choice recipients, receiving $25,000 in prize money. Beaverlodge makes it easier for people to get bulk discounts as they make their homes more efficient. The user follows a series of steps on their phone and they end up with a road map to reduce their emissions by 50%.
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.