A Financial Guide for Social Entrepreneurs by Collectif;

Author:Collectif;
Language: eng
Format: epub
ISBN: 9789048639854
Publisher: Die Keure N.V.
Published: 2020-09-13T16:00:00+00:00

5.4.The Main Ecosystem Actors

The above-mentioned mechanisms of support across the EE are only possible thanks to the presence of different organizations and individuals within the EE, striving to provide specific contribution by means of their tangible and intangible resources, their knowledge and information, expertise or simply a business opportunity based on the needs of others. One could argue the greatest asset of every organization is their high level of specialty in a specific business angle or sector. But, on the other hand, the success of the ecosystem is based on the complementarity of different parties involved, as they can work together, and thus offer many different types of recombined resources demanded by many entrepreneurs. Certainly, several actors are being highlighted as part of these entrepreneurial communities. We will mention a few of them, relevant for the operation and development of SEs in the following lines.

The government (bodies, agencies, representatives) is one big main actor within the EE. They are providing the policy framework that would stimulate venture creation, which has an impact on regional development and jobs, incomes and taxes generation (Lalkaka, 2001). Their continuous work on policy advocacy and monitoring, impact – or hinders – the capacity of local and regional ecosystems to operate and therefore, to facilitate the work of SEs and to increase their business success.

The financial organizations and other capital providers are responsible for making financial resources accessible to SEs to initiate, carry and maintain the entrepreneurial activity (Aaboen, 2009). As we have discussed in Chapter 2, these financial resources become available through several types of actors such as traditional financial institutions (banks) but also through investors, venture capitalists, cooperatives, associations, microfinance institutions, and online platforms (crowdfunding, crowdlending) amongst many other facilitators of financial means.

Universities provide training, research and educational opportunities for SEs and the supportive network. Universities are centrally located in the ecosystem and influence the development of different activities at the individual and the organizational level. Due to its neutrality, the university often influences its environment through the technology transfer processes and the creation of spin-off, policy advocacy, events and other activities that are led by academics and a large number of critical masses available. SEs can benefit from university as they provide support thanks to their expertise, the implementation of volunteering programs, and different alliances with multinational and private organizations through their CSR initiatives. Universities also have specialized centers and incubators, and run tailor-made programs to support the needs social innovation projects (Aaboen, 2009; Alsos et al., 2011).

Multinationals and industry (including industry association and chambers of commerce) often offer, through their CSR initiatives support to a specific type of SE, those especially working on topics that are aligned to their core business. Education, poverty alleviation, air pollution, gender equality, empowerment of women, inclusion of minorities, among others, are the most interesting topics that these organizations support. SEs can benefit not only from financial resources derived from these coalitions but also from expertise, network expansion and visibility (Alsos et al., 2011; Lalkaka, 2001).

Incubators and accelerators are crucial for those SEs on a start-up phase.

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