Creativity and Social Entrepreneurship
-
Upload
wes-regan -
Category
Government & Nonprofit
-
view
54 -
download
5
Transcript of Creativity and Social Entrepreneurship
CREATIVITY AND SOCIAL
ENTREPRENEURSHIPProblem solving and opportunity creation
Wes Regan and Paola Qualizza
March 5th 2015
CMNS 458
Simon Fraser University
SOCIAL INNOVATION
A RESPONSE TO WICKED PROBLEMS?
Wicked Problems (Planning/Sociology Term)
Problems that are extremely complex, sometimes hard to
understand the causes of, most often extremely difficult to solve
Karl Marx (socialist revolution) aside…
Can be created by or made worse through
Lack of political will or ideologically based policy creation
Competing interests
Market Failures (Vancouver housing…)
Loss of an industry or economic shock/restructuring
Public health crisis (disease, aging etc.)
Natural disaster, war, famine
Time
INNOVATION VS SOCIAL INNOVATION
INNOVATION VS SOCIAL INNOVATION
SOCIAL INNOVATION
What can be done NOW?
Finding unique solutions to social problems or social needs where government (public sector) or the market (private sector) has failed to
Often requires a non-profit or for-profit venture of some kind that can bring together elements of public and/or private sector, formal/informal/social economy to take a different approach
BUT can also take place within government or a single NGO or business
Examples…
INSITE – A SOCIAL INNOVATION RESPONSE TO
A PUBLIC HEALTH CRISIS
1998 A Public Health Emergency is declared in Vancouver’s
DTES as growth in intravenous drug use (Heroin) contributes
to a steady increase in HIV/AIDS, HepC and overdoses
INSITE: IMPACT AND CONTROVERSY
LOHA- A SOCIAL INNOVATION RESPONSE TO
VANCOUVER’S AFFORDABLE HOUSING CRISIS
LOHA- A SOCIAL INNOVATION RESPONSE TO
VANCOUVER’S AFFORDABLE HOUSING CRISIS
THE SHARING ECONOMY – NEW WAYS OF
BUYING AND OWNING
CROWDFUNDING - NEW WAYS OF FINANCING
FUNDRISE (U.S.) - REAL ESTATE DEVELOPMENT
DEMOCRATIZATION OF FINANCE & DEVELOPMENT?
FINANCIAL CONSIDERATIONS
Blended ROI
Social ROI
Patient Capital (longer timeframe for profitability, Liz
Lougheed Greene, Vancity)
Absorption of additional costs (33% Est. Shahmash,
2010)
Tax credits (ENP, Buy Social)
Social Impact Bonds
Community Bonds
Emerging Procurement Policies?
EMPLOYMENT BASED SOCIAL ENTERPRISE
MISSION POSSIBLE, POTLUCK CAFÉ AND CATERING
SKILL DEV/WOMEN’S HEALTH/ECONOMIC JUSTICE
BASED SOCIAL ENTERPRISE
East Van Roasters
Common Thread Sewing
Cooperative
MICRO-ENTERPRISE FOCUSED SOCIAL
ENTERPRISES
SOCIAL ENTERPRISE REVENUE GENERATOR TO SUPPORT
NON-PROFIT OR CHARITY
TYPOLOGIES AND AMBIGUITY
Social Venture
Social Purpose Business
Social Impact Business
Social Enterprise
Enterprising Non-profit
Community Interest Company (Nova Scotia)
Community Interest Corporation (UK)
Community Contribution Company (BC – 3C)
Benefit Corporation (B-Corp)
Etc. etc.
FUNDING AND RESOURCES FOR STARTUPS
For-profit
3F (Friends, Family and Fools) Debt financing (loans, line of credit), equity raise (Eligible Business Corporation, issue shares to investors – tax creditable for EBC) Crowdfunding (Indiegogo, Kickstarter) Futurpreneur, Small Business BC, Angel Investor (the Unicorns of the investment world) LUSH FUNd
Non-profit
Foundations - Vancity Community Foundation, Vancouver Foundation, the Real Estate Foundation, Mconnell Foundation, Central City Foundation, Tides Foundation, Ashoka, Lush
Government Granting Agencies – Provincial (Proceeds of Crime, BC Gaming) City of Vancouver (Direct Social Services Grants, DTES Capital Grants, Social Innovation Fund,
Greenest City) Federal Government – Arts Council, IRAP (technology)
THE PIPELINE/ECOSYSTEM
Groundswell
RADIUS, ISIS (UBC), THNK
Futurepreneur
Ashoka (BC Ideas)
DTES Community Investment Fund (BOB)
Community Futures (Regional ED in BC)
Small Business BC
WESBC
IRAP
Tides
Vancity
DevCo (BC Co-op Association)
Foundations/Government Grants
BDC/investors (scaling up)
SOME FOOD FOR THOUGHT FOR STARTUPS
RISK, FAILURE AND LEARNING
Part of entrepreneurship is assuming risk
It’s ok to be a little bit scared or intimidated, this is
totally natural, but the more you validate your
assumptions (or prove them wrong and pivot) the
more confidence you will gain
Don’t be afraid to fail...
But if you do, embrace it fully as a learning
opportunity
For social entrepreneurs you are taking on
additional challenges as running a “regular”
business is hard enough as it is!
RADIUS – FAILURE WAKE 2013
BUT DON’T BE AFRAID OF SUCCESS EITHER!
CONCLUSION
BE PRESENT AND EMBRACE THE PROCESS,
BE CURIOUS, BE HONEST, BE HUNGRY
Thank you, happy to be here with you.
https://www.linkedin.com/in/wesleyregan