What is the role of technology in enhancing the scalability and impact of social entrepreneurship initiatives?
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The Role of Technology in Enhancing the Scalability and Impact of Social Entrepreneurship Initiatives
Introduction to Technology and Social Entrepreneurship
Social entrepreneurship aims to address societal challenges through innovative and sustainable business models. The integration of technology into these initiatives has proven to be a game-changer, significantly enhancing their scalability and impact. This article explores how technological advancements are transforming social entrepreneurship, drawing insights from various studies.
Technological Innovations Driving Social Entrepreneurship
Mobile Payment Platforms and Blockchain
In Nigeria, the adoption of mobile payment platforms and blockchain technology has revolutionized financial inclusion, healthcare delivery, and access to quality education. These innovations have enabled social entrepreneurs to reach underserved populations more effectively, thereby amplifying their social impact1.
Artificial Intelligence and Cryptocurrencies
In Mexico, the integration of artificial intelligence (AI) and cryptocurrencies into social entrepreneurship training programs has shown promising results. These technologies have improved the efficiency, scalability, and financial sustainability of social ventures, empowering organizations to create significant social and environmental impacts2.
Digital Technologies in Sustainable Business Models
Digital technologies play a crucial role in the business models of sustainable entrepreneurship. They promote social inclusion, increase connectivity, and facilitate broader stakeholder integration. However, the implementation of these technologies can be challenging, particularly in the Global South, where contextual factors significantly influence their success4.
Enhancing Organizational Performance through ICT
Information and Communication Technologies (ICT)
ICT-based innovations are major drivers of enhanced organizational performance, economic growth, and social change. In Lebanon, the adoption of ICT has been shown to improve organizational performance, especially when complemented by corporate entrepreneurship10.
Technology Transfer Processes
Technology transfer processes are essential for social entrepreneurship, enabling organizations to leverage technological advancements for social impact. In Italy, projects like MIND and Torino Social Impact have demonstrated the importance of tailored technology transfer processes in fostering problem-oriented innovation ecosystems6.
Impact on Employment and Economic Development
Future Employment in Nigeria
In Nigeria, technology diffusion in social entrepreneurship has a significant impact on future employment. The ownership of a website and communication with clients via email have been shown to increase a firm's ability to contribute to future employment by 65% and 71%, respectively. This highlights the role of technology in reducing employment uncertainties and promoting sustainable economic development5.
Bridging Digital Social Entrepreneurship and SDGs
Digital social entrepreneurship is crucial for achieving Sustainable Development Goals (SDGs). By supporting technological upgrading and innovation, social entrepreneurs can drive higher economic productivity and address labor-intensive sectors. This approach aligns with SDG 8.2, which focuses on achieving higher economic productivity through diversification and technological innovation7.
Conclusion
The integration of technology into social entrepreneurship initiatives has proven to be a powerful catalyst for scalability and impact. From mobile payment platforms and blockchain to AI and ICT, technological advancements are enabling social entrepreneurs to address societal challenges more effectively. As these technologies continue to evolve, their role in enhancing the scalability and impact of social entrepreneurship will only become more significant. Collaboration between government, private sector stakeholders, and civil society organizations is essential to foster an ecosystem that supports technology-driven social enterprises.
Sources and full results
Most relevant research papers on this topic
The Effect of Innovation and Technology in Social Entrepreneurship: A Study of Selected Social Ventures in Nigeria
Innovation and technology, such as mobile payment platforms, blockchain, and data analytics, significantly enhance the effectiveness of social entrepreneurship initiatives in Nigeria.
Development of a technological innovation and social entrepreneurship training program to generate services in a Mexican public entity
This research aims to develop a technological innovation and social entrepreneurship training program that improves performance, relevance, and sustainability in a Mexican public entity.
Technological capabilities in emerging social enterprises: a pathway to social impact
Technological capabilities are essential for emerging social enterprises to enhance their social impact, with factors like education and access to financing playing a crucial role.
Systematic ReviewThe Role of Digital Technology within the Business Model of Sustainable Entrepreneurship
Digital technologies can promote social inclusion and stakeholder integration in sustainable entrepreneurship, but context matters and implementing them successfully is challenging for entrepreneurs.
Social entrepreneurship, technology diffusion and future employment in Nigeria
Social entrepreneurship and technology diffusion significantly impact future employment in Nigeria, contributing 21% to employment levels and enhancing sustainable economic development.
Technology Transfer for Social Entrepreneurship: Designing Problem-Oriented Innovation Ecosystems
Technology transfer processes targeting social entrepreneurship can fit various ecosystem models, enabling social entrepreneurs to leverage technology for problem-oriented innovation.
Social Entrepreneurship and Sustainable Development Goals: A Conceptual Framework
Digital social entrepreneurship using technology can improve Sustainable Development Goal achievement through social innovation and technology upgrading.
Systematic ReviewNew technology entrepreneurship initiatives: Which strategic orientations and environmental conditions matter in the new socio-economic landscape?
Entrepreneurial orientation and export market orientation positively influence the development of new technology entrepreneurship initiatives, while environmental conditions and economic cycles also play a role.
Digital Social Entrepreneurs as Bridges in Public–Private Partnerships
Social entrepreneurs play a key role in public-private partnerships, connecting innovation managers with technology-reflective individuals, ultimately leading to socio-economic impact.
The role of ICT and innovation in enhancing organizational performance: The catalysing effect of corporate entrepreneurship
Corporate entrepreneurship catalyzes the positive relationship between ICT adoption and organizational performance in the Lebanese market.
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