A new study titled Two Decades of Impact: Schwab Foundation for Social Entrepreneurship revealed that India has the most social entrepreneurs from the environmental sector to education of women and children. Entrepreneurs who have worked with the Schwab Foundation have until today distributed $6.7 billion in loans or value of products and services and have been working on enriching the lives of more than 62 million people in 190 countries in the world. The report which was released ahead of the 50th World Economic Forum (WEF) Annual Meeting in Davos also discussed how social entrepreneurs are contributing to making a change in the Sustainable Development Goals domain.
Social innovators have pioneered sustainable approaches and inclusive business models
“The community has distributed more than $6.7 billion to projects and products that have enhanced livelihoods, including increasing healthcare access, providing clean energy solutions, and improving education outcomes,” revealed the report. The report also sheds light on how social entrepreneurship has really impacted India and the rest of the world and that social change is as important as advancements made in scientific and technological fields and this needs to be recognized. Klaus Schwab, the WEF Founder, and Executive Chairman said, “Social innovators have pioneered sustainable approaches and inclusive business models, and serve as a clear demonstration that models of stakeholder capitalism can indeed work.” Established 20 years ago, The Schwab Foundation continues to be a platform to support groups of underrecognized social entrepreneurs who wanted to change the world that they lived in one issue at a time.
Social entrepreneurs are seen as creative innovators who want to see a solution to the problems of the world
Today, the foundation represents 384 late-stage social innovators and has brought them out of obscurity. Two decades ago, social entrepreneurship was not something that was widely recognized and the foundation has helped put so many people on the map, making world leaders more aware of them. Hilde Schwab, Chairperson, and Co-Founder, Schwab Foundation for Social Entrepreneurship said, “In those early years, social entrepreneurs worked in relative obscurity. They often struggled to access high-level decision-makers who could help them scale up, support or partner, and they were frequently misunderstood by authorities, the private sector, funders, the media, and the general public.” However, today speaks another story as social entrepreneurs are also seen as creative innovators who want to see a solution to the problems of the world. From sustainability to inclusion, they want to change the way the world does business, whether it’s the corporate or the startup arena. “we will not only nurture this community of social entrepreneurs but will also expand our remit by inviting a wider group of social innovators – including those in corporations, governments, and academia – to join us in making social innovation and entrepreneurship a lighthouse for possibility and seeing this realized for the next generation,” added Hilde Schwab.
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