Purpose Driven Entrepreneurship

We are witnessing a driving wind of change in the entrepreneurship space epitomized by a deep routed passion to change our world for the better. It’s certainly not new but gathering momentum and I wonder whether others are sensing it?

The notion of social entrepreneurship is well established. This is something new, expanding our repertoire of entrepreneurial thinking bringing additionality to existing understanding.

Jeff Hoffman Chairman of the Global Entrepreneurship Network first introduced me to Purpose Driven Entrepreneurship as he shared the story of two young entrepreneurs who are simply changing the world.

Ian Brock started Dream Hustle Code was only 15. Within two years he had taught 25,000 students to code preparing a pipeline for young people to become the owners of creating their own technology.

Pratik Gauri is a young serial entrepreneur creator of 5ire.org has embedded the Sustainable Development Goals into consensus blockchain to help people help others. He aims to help 1 billion people by 2030 shifting the dial away from what problem do I want to solve towards, you make money from where you make impact.

Stanford Associate Professor and investor Rebeca Eun Young Hwang , claims her best investments are from purpose driven entrepreneurs.

Undoubtedly, there are many more examples, at UCL Innovation & Enterprise I have witnessed Zubair Junjunia founder of Z-Notes helping millions of young people with access to revision notes. UCL founders Rice Inc winners of the Hult Prize Foundation are changing the lives of 25 million rice farmers.

Stanford Ajunct Professor Narges Banisasadi outlines the 7 dimensions of Purpose Driven Entrepreneurship as: 1. Purpose Building, 2. Improving Leadership and Team Development, 3. Incorporating Equity in the Innovation Process, 4. Aligning Business Models with Impact, 5. Improving Governance and Ownership of Startups, 6. Patient and Mission Aligned Capital, 7. Collaboration, Partnership and Policies.

Purpose Driven Entrepreneurship stretches beyond the narrow confines of social entrepreneurship with the capacity to transform the economic engine of our nations.

So why bring this to the forefront now? Because such a range of voices are currently highlighting. At SIFTED Summit in London, the Youth Forum of the United Nations World Investment Forum and startups themselves are shouting about it. The question remains how should the Entrepreneurship community respond?

#impact #entrepreneurship #purposedrivenentrepreneurship @uclinnovation&enterprise

ZNotes Enterprise Educators UK Matt Smith Youth Business International (YBI) #WIF2023