Entrepreneurs create jobs, wealth, and innovation — and are a global force for good. As research from the Kauffman Foundation and others have extensively documented, most new jobs come from start-ups and scaleups.
So, keeping in mind the current fourth industrial revolution, it is worthwhile examining the entrepreneur ecosystem where technology and social impact meet, creating the potential of a new business model – Transformational Entrepreneurship (a term coined by Startup Genome back in 2012) - when “Two movements of #Technology #Entrepreneurship and #Social Entrepreneurship converge into a promising solution. An increasing number of entrepreneurs are awakening or awakened to the possibility of combining the scalable tools and methodology of Technology Entrepreneurship with the world-centric value system of Social Entrepreneurship. Together they create a new type of entrepreneurship that could become our primary source of socioeconomic value creation.
We witnessed this convergence in the agriculture, education and healthcare sectors fueled and accelerated by covid pandemic and becoming attractive to traditional investors
Transformational Entrepreneurship - Where Technology Meets Societal Impact
The Y-axis looks at economic impact and obviously the entrepreneurs that have the greatest impact are those that have products and/or services that have scalable business models. Whereas the X-axis looks at entrepreneurs that create the most social impact and help solve the world’s most pressing problems.
Transformational Entrepreneurship aims to find convergence, so that start-ups and small businesses can be both scalable, sustainable and profitable, as well as purposeful and inclusive for impact.
These companies approach problems systematically (as suggested by Startup Genome) , such as:
Teach people to fish rather than giving them fish
Focus on unlocking human potential
Create more value than they capture
Seek to empower people
Improve people's relationships, their ability to create and ability to learn
They nurture ecosystems and platforms
To help #startups scale and be transformational, they need:
funding (investors or corporations as incubators)
mentorship (support of business and tech experts)
customers (to buy their product or service).
The private sector plays a crucial role in building the ecosystem for transformational entrepreneurship to succeed, aiding an exponential delivery of both social and economic impact.
To learn more about Transformational Entrepreneurs email us at firstname.lastname@example.org