Many people believe that social startups are NGOs or non profit organisations working for the welfare of others.
In the pursuits of achieving social justice and working for others, these social startups are forced to live on charities or donations alone to run their businesses. But the canvas of business reality is much wider than the charities.
Of late, the social startups are profit making businesses with a goal of being a change-maker in the society. These startups are not Robinhoods, they are like any other business but their mission is bigger than just money making.
Social startups cater to social welfare sectors like education, health, water, sanitation, livelihood, social justice etc. These are socially valuable and it may seem that such causes may or may not bring immediate or direct economic returns. To put it into other words, social sector lay in the vicinity of social work (charity, if you can call it that).
The term Social Startup has gone under major refashioning. ‘Social Sector’ in the contemporary milieu encompasses start-ups, philanthropy, social businesses, and entrepreneurial projects. They aren’t the profitless charities anymore.
In the current day and age, our country has gone under a notable social, economic and commercial revolution. With jobs where you can work from your bed and businesses that pop out of pacts between friends.
India, currently, is a hotspot for another social change. A change where you can earn while doing good, real good. On top of that, the diversity in the areas, where this work can be applied is measureless. As social startups are being created each day and also for innovation knows no bound (Yes, a pinch of inspiration).
If you’ve read so far, I can deduce that you are genuinely interested in going further to gain more about such projects or creating enterprises. Here you go:
The AMBEDKAR UNIVERSITY OF DELHI has an AUD Centre for Incubation, Innovation and Entrepreneurship (ACIIE). The body aims at guiding, assisting, and mentoring start-ups or entrepreneurial projects in the social sector. Besides setting up new projects, they also help in refining and sizing up the existing ones. That is to say, ACIIE transforms ideas into sustainable ventures creating profitable enterprises.
Inspired and guided by Ambedkar’s philosophy, they aim at bringing about a social change (where you’ll earn too). The team comprising of social oracles and business pundits have built an ecosystem that fuels the learners with innovation and creation and helps them raise capital as well.
So explore the social sector to create a social startup, because the opportunities are vast and challenges to explore are immense.