Employing tactics from government, civil society and the private sector, social entrepreneurship seeks to address social issues through collaborative creation and widespread adoption of new solutions.
Social entrepreneurs see social issues as opportunities to create positive change. They aim to achieve this change by developing innovative yet pragmatic solutions — new products, services or processes — that fundamentally alter and improve the status quo. Such solutions are capable not only of reaching more people but also of sustaining themselves financially. That is, while social entrepreneurs seek to create social value, they also generate financial value to reinvest in their venture, thereby expanding it to help more people.
Just as entrepreneurship is vital to the economy, social entrepreneurship is vital to society. By tackling social issues and achieving scalable, sustainable impact, social entrepreneurship can create a more equitable society. By providing innovative solutions to society’s unmet needs, social entrepreneurs can help spur sustainable human and economic development.