how do i use entrepreneurship to make an impact?
What is impact entrepreneurship?
Hi-tech impact entrepreneurs want to change the world, disrupt the status quo, fix a social injustice.
We now know that thinking about social impact is actually good for business.
Now it's your turn...
can you come up with an idea that will have a big social impact?
Impact investing is a growing category of investors who want to create both financial return and social impact. Impact investors look for profitability, intentionality and measurement.
That means that a successful impact enterprise should have a successful business model, intend to address a social or environmental challenge, and be able to measure its impact (more on this later).
Triple Bottom Line
As opposed to the traditional bottom line that businesses usually consider (as in, profit), the triple bottom line theory combines people, planet and profit. Meaning businesses need to think about the interactions between their social impact, environmental impact, and profit and to have a truly successful business.
This is just one aspect of sustainable management, along with corporate social responsibility and creating shared value.
UN Sustainable Development Goals
The UN has identified 17 Sustainable Development Goals (SDGs) that the world needs to achieve by 2030 for a "better and more sustainable future for all." The SDGs are important to impact entrepreneurs because they create a framework for thinking about and measuring the impact of your startup. Impact investors often want to know if a startup they are thinking about investing in addresses one (or more) of the 17 goals.