Bridging the Business and Social Sectors

Just as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss and improving systems, inventing new approaches and creating solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems on a large scale.

The uniquely rigorous search and selection process that Ashoka follows in electing its Fellows has put a new sense of competitiveness into the citizen sector. Only after a complete critique of their analysis of the existing problem, the creativity of their new idea, the long-term potential and the ethical fiber with which their projects are carried out, can these social entrepreneurs be elected into the Ashoka fellowship.

Ashoka has taken the social sector and put it into terms that the business world understands. With a growing mutual respect for these parallel fields, the partnerships developing between business and social organizations is emphasizing the historical relevance and importance of equivalent development in both sectors.

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Venture philanthropy on the rise, in the US and internationally

With the increasing consciousness of the social sector in the United States and internationally, a new emphasis is being placed on financial mechanisms to support the developing social organizations. Venture philanthropy is defined as philanthropy which uses some of the best practices of the venture capital world, measuring the value of the donor dollar in terms of the social return of investment, to effectively build the capacity of citizen-sector organizations.

Leading international business entrepreneurs are refocusing their attention to philanthropic foundations, such as the recent movement of Bill Gates to hand over his business to invest in his foundation. The movement for venture philanthropy demands that the citizen-sector organizations consult the business leaders to the most beneficial and effective ways in which they can invest their money in social needs. Ashoka has proven itself to be a trustworthy organization whose search and selection process for Fellows allows it to identify today’s leading social entrepreneurs and organizations impacting long-term social change. With Fellows in over 60 countries, working in various fields, Ashoka is a great resource for those looking to invest in specific social projects.

With the growing number of social entrepreneurs, this trend of venture philanthropy is not only growing in the States, but is spreading to other countries who may have a new “culture of giving.” Ashoka supports social entrepreneurs and their innovations for social advancement in worldwide communities. The innovative work of these individuals have demonstrated the new possibilities of this field and unique paths for venture philanthropy to grow.

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