Social Entrepreneurs Launch Catalyst 2030 At the Covid-19 Response Meeting

Social Entrepreneurs Launch Catalyst 2030 At the Covid-19 Response Meeting

The COVID Response Alliance for Social Entrepreneurs launched an action plan just before the United Nations General Assembly outlining strategies to support social entrepreneurs during and after the COVID-19 pandemic. On behalf of the 60 members of the alliance, a statement said that they call on all actors to support social entrepreneurs as frontline responders to the COVID-19 crisis and as pioneers of a green, inclusive society and economic systems.

While social entrepreneurs respond to the pandemic globally, efforts to support them going up to UNGA 75 show growing recognition of the value they can put in the immediate response and inclusive recovery. When this year began, leading social entrepreneurs created Catalyst 2030 as a strategy to harness the power of collective action to achieve the Sustainable Development Goals.

The alliance, which was introduced at the World Economic Forum in 2019’s annual meeting in Davos, Switzerland just before the COVID-19 pandemic affected the globe, assembles entrepreneurs who have been chosen by leading global networks such as; Echoing Green, Ashoka, the Skoll Foundation, and the Schwab Foundation for social entrepreneurship.

The Catalyst 2030 has since then been a championing voice on social entrepreneurs’ role in the COVID-19 response and the SDG agenda. Most of the social entrepreneurs behind the movement identify as “systems entrepreneurs” since they go beyond a project mentality. Instead, they apply a systems-change methodology to their work while focusing on elevating the whole sector.

While speaking to Devex, Jeroo Billimoria, a co-founder of Catalyst 2030, said that if one wants to have systems change, you have to have the people who understand the system leading it. Billimoria added that systems entrepreneurship would not take hold of the social impact sector until donors change their ways. She said that it remains more comfortable to get money for projects rather than system change.


Prime Minister Modi Speaks on Turning Farmers into Entrepreneurs

Prime Minister Modi Speaks on Turning Farmers into Entrepreneurs

Recently, Prime Minister Narendra Modi spoke of his government’s historic farm reforms and how they will bring forth opportunities to take farmers to entrepreneurship. He also talked about his regime and its focus on increasing farmers’ income. He was speaking via video conferencing after releasing the autobiography of Balasaheb Vikhe Patil, the former Union Minister, and renaming the Pravara Rural Education Society in Ahmednagar district after Padma Bhushan recipient.

According to the prime minister, the present opportunities are being created to take farming and farmers from the role of annadata (food provider) to entrepreneurship. Modi said this while terming the farm reforms as historic. Also, while referring to high milk, sugar, and wheat production in Gujarat, Haryana, Maharashtra, and Punjab, Modi mentioned that such models of local enterprise would take the journey forward.

He recalled further of a time after independence when the nation did not have sufficient food stock. According to Modi, the government’s priority then was to increase food production hence the entire focus on increasing production. He said that farmers worked hard to achieve this objective. Modi added that the attention of the governments and policies, while still concerned about increasing productivity, did not go towards the profitability of the farmers.

Modi went on to say that individuals forgot about income for farmers; however, for the first time, that thought has been changed. He said this as he listed steps that the Centre has used for the welfare of farmers. Modi’s measures include the government’s strategy of implementing and increasing MSP, excellent crop insurance for keeping the farmers at ease and, urea neem coating.

The prime minister also mentioned Rs one lakh crore’s direct transfer in the bank accounts of farmers under the Pradhan Mantri Kisan Samman Nidhi Yojana. According to Modi, there is no middlemen involvement. He said that there had been unprecedented work on setting up cold chains, agro-processing infrastructure, and mega food parks.


Reasons why social entrepreneurship is a potential business model in the UAE

Reasons why social entrepreneurship is a potential business model in the UAE

The Middle East is often regarded as a place of wealth and luxury and the same applies to UAE. While this is true, the region is witnessing a surge in social entrepreneurship as the country begins to diversify its economy.

While such businesses run similar to for-profit businesses their core goal is to address pressing social problems. Well, many might think that the UAE is not conducive to social entrepreneurs. Here are the reasons why this is far from the truth.

  • Sustainable future

UAE is at the forefront of achieving the United Nations Sustainable Development Goals (SDGs) by developing a more sustainable economy. In 2019, The Supreme Council of Energy in Dubai announced that the country recorded a great improvement of 60%, bringing per capita emissions to 15.7 CO2. This shows that the country has the potential to become one of the top sustainable countries.

  • Conducive environment

The Thomson Reuters Foundation release 2016, on “Best places to start a social enterprise” placed UAE at position 19 in the overall ranking. Fast forward to 2018, and it scooped the 12th position. The release also indicated that businesses have easy access to loans, grants, and other forms of financial aid.

  • Social conscious

While a lot has been said about the support to-be entrepreneurs receive, plenty has been happening with small business social enterprises as well. Take Palestyle as an example. The business employs Palestinian refugee women to make home décor, handbags, and more. Besides, some of the profit is used to help in Palestinian projects.


Success Factors that will Make Social Entrepreneurship More Impactful

Success Factors that will Make Social Entrepreneurship More Impactful 

Social entrepreneurship has impacted society in many ways. Fighting poverty, empowering women, environmental conservation and improving health among vulnerable members of the society are some of what they do. Having a proper blend of a befitting purpose and profit, social entrepreneurs have brought about a great transformation in various sectors and countries. For the impact to be greater, certain success factors need to be considered.

First, it is important to combine business with a social cause. Traditionally, models of philanthropy were designed in the sense that they depended on donations aid and charity that were limited since they were not sustainability. Currently, social enterprises with business mind have been on the rise to bring about sustainability.

Secondly, an important factor that needs to be put in mind is innovation. Social entrepreneurs who are creative and innovative are taking the economy by storm. This means that they can curve their business ideas out of the needs and great challenges the society is facing. They include health, poverty levels, environmental degradation, among many others.

Besides, proper problem definition is key in being an effective social entrepreneur. Most successful social entrepreneurs we have today knew the problem in their societies well and curved their businesses to directly deal with the social challenges. Some were accidental entrepreneurs as they were trying out different solutions to the challenges that angered them.

Moreover, partnerships are also key as synergies are created hence increasing the muscle of tackling the societal challenges unlike if one individual was involved. Partnerships provide great opportunities for growth and mentorship, as well as improvement of quality.

Space is failing me to mention other factors such as community participation in the projects, balancing on the scale the profits with the purpose, considering financial sustainability among many others. Bearing these factors in mind for any individual that would love to venture into social entrepreneurship will be a great propeller.