Financing Sustainable Development by Magdalena Ziolo & Bruno S. Sergi

Author:Magdalena Ziolo & Bruno S. Sergi
Language: eng
Format: epub
ISBN: 9783030165222
Publisher: Springer International Publishing

3 Ecosystems of Social Entrepreneurship

One of the pillars of social policy undertaken by the large multinationals is based on the creation of business incubators and different organizations that serve as a guide, support and financing of various commercial activities, and to date they have been studied exhaustively within the framework of employers more sensitive to the lack of employment opportunities in the region (remember that in Spain, the unemployment rate, in December 2018, among those under 25 was 32.7%, according to statistical sources of the INE, Instituto Nacional de Estadística, in contrast to the European average of 16.6%). The lack of employment opportunities for this sector of the population creates serious barriers for young people when it comes to integration into economic activity with all that it entails: economic independence, access to housing, contribution to the pension plan and so forth. This represent a great burden both for public and private social charges and for the economic and social development of the country. The possibility of opening a path of self-employment through these self-employment initiatives sponsored by large corporations (Telefónica, Vodafone, BBVA, Santander Bank, Mercadona, etc.) not only serves as a stimulus, but also develops a facilitating role for their own development, all covering a space of private initiative that the state does not manage to reach well due to the lack of resources and the lack of initiative in this regard.

The research community has participated extensively in the expansion of research based on the theory of incubators, as well as their success factors (see Hackett and Dilts 2004; Akçomak 2009). Therefore, there is already some consensus on how incubation models have developed over time (Bruneel et al. 2012), especially in Europe and the United States. One of the main findings was to reveal the importance of business incubators as a facilitating environment, contributing to entrepreneurship with a stable permanence in the market and decreasing the initial age to start undertaking entrepreneurship.

Several investigations have begun to analyse business incubators while explaining the institutional context in which they operate. Dutt et al. (2015) carried out a study in which they focused on an empirical examination of incubators that companies place in emerging or developing countries instead of developing specific businesses. The study also examines how sponsoring incubators from private, governmental, academic and non-governmental organizations influences the mix of services provided by incubators (Dutt et al. 2015). We try to add to these efforts the development of a conceptual framework of business incubation models in institutionally lagging environments, and we argue that it differs from the general vision. One of the main findings was to reveal the importance of business incubators as a facilitating environment, contributing to the entrepreneurial spirit with a stable permanence in the market and diminishing the initial age to start undertaking entrepreneurship (Mrkajic et al. 2019).

Commercial institutions include capital markets, banking regulations, legal systems, education systems and labour markets. The business environments generated in this scenario have some deficiencies in terms of standards, regulations, supply chains, commercial capabilities and other structures and systems that would facilitate effective commercial activity (Dutt et al.

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