I am excited to share this video segment on how Technology can help fuel social entrepreneurship that I worked on in partnership with Chivas Venture. (I also did one on Artificial Intelligence, Women in Tech, and Smart Technology).
Whether it's cleaning up the ocean with The Ocean Cleanup or crowdfunding medical treatment for people around the world with Watsi or monitoring storm water in real time to prevent water contamination with Stormsensor, there is a tremendous amount of good work going on right now from Social Entrepreneurs, and, for these entrepreneurs, creating and leveraging technology is at the center of it.
Social Entrepreneurs mostly leverage the Internet - web, mobile, and social media tools. Which allows them to extend their reach to large numbers of people, not based on proximity, but, based on shared interests and shared goals. With all of the tools available, they can disseminate information almost instantly, have distributed teams and collaborate, schedule and coordinate their activities and do quite a bit of fundraising…all online.
When entrepreneurship meets innovation and can leverage technology that helps you scale…that’s when you can have the greatest impact and can do the most social good.
Technology is playing such a crucial role in this space that it’s hard to imagine how it was done before. Communication is easier, mobilization is faster, and fundraising is instant and immediate.
Social impact entrepreneurship is not a man or woman thing, as it’s near parity…women make up over 45% of the Social entrepreneurs and that number is growing.
But, let's clear up a misconception about social entrepreneurship…although there are many claims to the contrary, making money is a big deal. If your venture doesn’t make or raise enough money, it will fail.
Who is best positioned to take advantage of the latest technology and combine it with the momentum of the Social Entrepreneurship movement?
The Millennial generation. Millennials are very capable, action oriented, and idealists. They're highly-mobile, interconnected and have the desire to solve society’s issues and are ready to find new solutions to old problems. It is they who are the Social Entrepreneurs of now and the near future.
With all the technology tools available, social entrepreneurs of the future will be driven more by measurable outcomes rather than personal values or mission statements.
They will have to show how they turn their missions into metrics that are quantifiable…how many people fed, how many trees planted, how many dogs saved, etc.
Over the next few years Social Entrepreneurs will take a profound role in shaping and influencing the conduct of business and they will ensure that a commitment to social good is a natural part of the way we do business.