Article by François Bonnici: “…Social innovators and social entrepreneurs have been working to solve market failures and demonstrate more sustainable models to build inclusive economies for years. The Schwab Foundation 2020 Impact Report “Two Decades of Impact” demonstrated how the network of 400 leading social innovators and entrepreneurs it supports have improved the lives of more than 622 million people, protecting livelihoods, driving movements for social inclusion and environmental sustainability, and providing improved access to health, sanitation, education and energy.
From providing reliable information, services and care for the most vulnerable, to developing community tracing initiatives or mental health support through mobile phones, the work of social entrepreneurs is even more critical during the COVID-19 pandemic, as they reach those who the market and governments are unable to account for.
But right now, these front-line organizations face severe constraints or even bankruptcy. Decades of work in the impact sector are at stake.
Over the past four decades, a sophisticated impact ecosystem has emerged to support the work of social innovators and impact enterprises. This includes funding provided by capital sources ranging from philanthropy and impact investing, intermediaries providing certification and standards, peer networks of learning and policy and regulation of this new “social economy” seeking to embed inclusive and sustainable organizational approaches imbued with principles of equality, justice and respect for our planet.
From this ecosystem, 40 leading global organizations collectively supporting more than 15,000 social entrepreneurs have united to launch the COVID Response Alliance for Social Entrepreneurs. The aim is to share knowledge, experience and resources to coordinate and amplify social entrepreneurs’ response to COVID-19….(More)”.