Why India needs more social entrepreneurs

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India is a country of over a billion people, with a diverse range of gender, cultural, social, and economic backgrounds. While the country has made significant progress in recent years, with increasing access to education, healthcare, and technology, many social problems persist.

One of the recent findings by a Lancet study indicates that India is likely to miss the deadline for 50 percent of Sustainable Development Goals (SDG) indicators including major concerns.

Poverty, unemployment, gender inequality, and environmental degradation are just a few of the issues that continue to plague India. In this context, social impact entrepreneurs have an important role to play.

The need for more social impact entrepreneurs

Social impact entrepreneurship is the practice of using business models to address social and environmental problems. These entrepreneurs aim to create social impact while also generating revenue and profits. They focus on creating sustainable impact solutions that have a positive impact on society and the environment. In India, social impact entrepreneurship has gained significant attention in recent years, with more and more entrepreneurs starting ventures that address social and environmental challenges.

Here are some reasons why India needs more social impact entrepreneurs:

1) Tackling social problems at scale

Social impact entrepreneurs are uniquely positioned to and not limited by traditional approaches to drive social change at scale. They are willing to take risks to find new and effective solutions. They leverage their business acumen and creativity to create sustainable solutions that have a positive impact on society.

2) Promoting inclusive growth

India's economic growth has been impressive in the recent years, but it has not been inclusive. There is a significant gap between the rich and poor, and many marginalised communities are left behind. Social impact entrepreneurs can play a vital role in promoting inclusive growth by creating opportunities for marginalised communities. They can create jobs, provide training, and support the development of small businesses in these communities. By doing so, they can help reduce poverty and inequality in India.

3) Solving environmental challenges

India faces significant environmental challenges, including air and water pollution, deforestation, and climate change. Social impact entrepreneurs can create sustainable solutions to address these challenges. For example, they can create ventures that promote renewable energy, reduce waste, or promote sustainable agriculture. By doing so, they can help protect the environment and promote sustainable development.

Also Read: How to create enduring social impact

4) Innovating for social impact

Social impact entrepreneurs are known for their innovative approaches to social problems. They are not bound by traditional approaches and are willing to take risks to find new and effective solutions. By leveraging their creativity and business acumen, social impact entrepreneurs can create innovative solutions that have a positive impact on society. These solutions can be replicated and scaled, leading to even greater social impact.

5) Bridging the gap between the public and private sectors

Social impact entrepreneurs can bridge the gap between the public and private sectors. They can work with the government to create sustainable solutions to social and environmental problems. By doing so, they can leverage public resources and policies to create a more significant social impact. They can also work with the private sector to access capital, technology, and expertise, leading to more innovative and effective solutions.

6) Creating sustainable ventures

Social impact entrepreneurs focus on creating sustainable ventures that generate revenue and profits while also creating social impact. By doing so, they create sustainable models that can be replicated and scaled. These ventures can create jobs, generate income, and contribute to economic growth. They also create a positive feedback loop, where social impact leads to increased revenue and profits, leading to even greater social impact.

In conclusion, social impact entrepreneurship has the potential to make a significant contribution to India's social and environmental development. They can promote inclusive growth, tackle environmental challenges, and bridge the gap to achieve sustainability development goals.

The writer is founder and CEO, Muskaan Dreams

The thoughts and opinions shared here are of the author.