Catalyzing Innovation & Social Value through

Social Entrepreneurship

E.M. Erasmus, MA

University of Aruba

Tuesday, September 16th 2014

THE RISE OF SOCIAL ENTREPRENEURSHIP…

• Not a new concept…

• A response to failures of governments and corporations to tackle social challenges

• Accelerated pace: globalization and high interconnectivity

• Pragmatic and real-time solutions

WHY SOCIAL ENTREPRENEURSHIP IN CURRICULUM?

• Government is unable to solve all social problems.

• Scarcity of public funds (subsidies).

• Address root causes of social challenges at a systemic scale in an innovative manner.

• Challenging the status quo and stimulating stakeholders to follow suit.

• Contribution to a sustainable Aruba.

• Future alternative career/job.

INSPIRING INDIVIDUALS AND COMMUNITIES

SOCIAL ENTRENEURSHIP:

+ = Social

Entrepreneur

Social Entrepreneur Social

Entrepreneur

SOCIAL ENTERPRISE:

An organization that applies business (commercial) strategies to promote development and maximize improvements in human and environmental well-being, rather than maximizing profits for company shareholders.

• Charity

• Advocacy

• Corporate Social Responsibility

WHAT IS NOT SOCIAL ENTERPRENEURSHIP

COMMON CHARACTERISTICS:

Social Enterprises: • Operate as commercially run businesses. • Create social value and/or mitigate social problems. • Aim to make profits. • Generate income through sales of goods or services. • Use good business practices and principles. • Use the majority of their profits to further social or

environmental goals.

THE SOCIAL ENTERPRISE PIONEERS

THE PIONEERS

THE PIONEERS

Microfinance, rural education, social development

PROVEN SUCCESS

• Both the Grameen Bank and BRAC demonstrated that is was possible to mitigate poverty on a massive scale.

• Growing solutions in a bottom-up fashion. • Social innovation and trial and error.

OTHER WELL-KNOWN EXAMPLES

OTHER WELL-KNOWN EXAMPLES

OTHER WELL-KNOWN EXAMPLES

SOCIAL ENTREPRENEURSHIP IN ARUBA

D’abaru Kelkboom

WHERE ARE THE OPPORTUNITIES?

• Environmental

• Housing

• Health and care

• Information services

• Public services

• Financial services

• Training and business development

• Manufacturing

• Food and agriculture

SOCIAL ENTERPRISE MODELS…

• Revolutionizing approaches to business conceptualization

• Creative organizational structures

• Integrated use of technology

• Bottom-up approach

• Sparking off innovation and change

NOT JUST THE RIGHT THING…

• Investment in social enterprise is rising around the world

• Biggest economic opportunities are around solving societal needs

• Big benefits for countries that pursue it

GETTING STARTED….

• Social entrepreneurship is not for everyone…

• Driving force: PASSION for a cause

• Articulating the problem and the solution

• Use available resources

• Find synergy

• Financially sustainable business model