From inventors like Thomas Edison to innovators like Bill Gates, entrepreneurs have long been a driving force of U.S. economic growth. Yet more and more, entrepreneurs are turning their attention toward social issues, as they strive to solve major societal problems through the lens of business.
Though the idea of social innovation is now firmly entrenched in the zeitgeist, it is not exactly a new concept. In fact, social entrepreneurs have existed for quite a while, as have the groups that support and finance their ambitious agendas.
“The sport of running is now a social sport,” says Stephanie Mezzano, vice president of operations for Red Frog Events.
After three tours of duty in Iraq as an Army medic, Will White came back stateside with a business idea for a healthy meal delivery service. He just needed a little financing.
White figured he would easily qualify for a loan through any number of programs aimed at helping vets transition back to civilian life. Instead, he found himself confronted with the same challenges facing many small businesses — access to startup funding.
Gary Milwit may have moved on from a career as an athletic director, coach, and teacher to run a financial firm, but his roots run deep — he’s turned his office into a “sports bar.”
The senior vice president at Stone Street Capital in Bethesda, MD, deployed a cloud-based gamification platform called Hoopla last year to incentivize sales people to record all activities leading up to a deal.
As someone who has spent his career playing the dual role of entrepreneur and financial guru, Bill Harris is the first to caution that launching a startup is a much different game than making a solid investment.
One year ago, Rob Rhinehart was hungry. He was also busy trying to get a wireless networking startup off the ground, and food fell down his list of priorities. In fact, it fell so far down, he came up with the idea of a meal substitute drink that would contain everything the human body needs.
Jafar Abbas has noticed a distinct change in attitude among his students. No more yelling out the window, fewer obscenities, and much less negativity in general.
The more positive tone is a good sign not just for the class, put potentially for society. Abbas isn’t an instructor in just any classroom — he’s teaching teenage inmates at New York’s Rikers Island.
Business men and women of Whoville beware: Paul Volcker may be swiping your Christmas cheer.
Yesterday, federal regulators voted to approve the Volcker Rule, named after former Federal Reserve Chairman, Paul Volcker.
While the Volcker Rule seeks to ban proprietary trading, it goes beyond that. Congress and regulators may have shot at Wall Street, but they will hit Main Street instead.