The Trico Foundation is most excited by social enterprise’s that have the potential to do at least one and ideally all of:
a) Tapping into the power of the pull of markets (having a product customers really want and the ability to make money satisfying that want) to solve social problems;
b) Addressing a market failure– the more challenging the market failure the better;
c) Blending social and entrepreneurial (business) models in harmonious, or even better, synergistic (learn more about the three types of blends here) and imaginative/innovative ways;
d) Addressing pervasive and entrenched “Gaps in society” (the bigger and/or more systemic the better). For example: relief of economic exclusion; relief of poverty; relief of social exclusion; promoting good health or well-being; helping children and/or youth at risk; relief of the aged/seniors; gender equality; addresses environmental sustainability; and/or enhanced peace and justice;
e) Having a vision for the ultimate impact they want to make and a high-level plan for how to get there;
f) Embracing the social entrepreneur’s mindset (learn more about the social entrepreneur’s mindset here) and the ability to progress by way of experimentation – for example, using frugal experimentation to learn, pivot where needed, and to make progress – rather than simply ‘working to a plan’.