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.

For all its momentum, the social revolution of the 21st century – as in social finance, entrepreneurship and innovation (on my more disillusioned days, it’s the ‘soc drawer’) – is at a critical tipping point. Simply put, we need to move beyond theory to the practical ‘how to’. It’s amazing how many thought leaders in this space are coming to this conclusion.

For the first time in his working life, Caleb Bethune doesn’t dread waking up to another day of work, not since he began his career as a software tester with the Calgary-based social enterprise Meticulon. Meaghan Thompson, a fellow employee, shares a similar story of being inspired and energized by her work with Meticulon.

The five days of Beakerhead officially get rolling today with the world’s largest pop-up gallery, called a String (Theory) of Incredible Encounters, with a circumference of five kilometres. The series of public art installations is an exploration in creativity at the crossroads of art, science and engineering, and can be seen by touring from Inglewood to East Village to Victoria Park, 17th Ave and Kensington. The home base or hub for Beakerhead this year is at Station B (the Beakerhead moniker for installations at Fort Calgary).

Scott Crockett, Director of Marketing & Communications of the Calgary Chamber expresses his excitement for the ground-breaking and innovative event: “Business has incredible power to change the world for good. In fact, business has been one of the greatest forces in human history for raising people out of poverty and solving our greatest challenges as humans. With the rise of social entrepreneurship, it’s clear that doing good in the world can be a great business strategy. I can’t wait to hear from these 5 innovators about how they are doing good and doing well at the same time!”

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