Social entrepreneurs should focus more on producers rather than consumers as they seek to create social impact, said Ajay Chaturvedi, CEO, HarVa, a rural startup that focuses on skills development, at the Social Entrepreneurship Summit of Leaders For Tomorrow in New Delhi.
“We should focus on making the lower income group to become a producer,” he told the young participants who gathered at the American Centre of the US embassy on Monday, as a part of LFT’s month-long development festival.
During the panel discussion, moderated by Siddharth Zarabi, Editor, Bloomberg TV, the panellists put forward their different viewpoints on what social entrepreneurship is.
Highlighting the Grameen Bank as a successful model, Adarsh Kumar of World Bank said that social entrepreneurship has much to do with the scale.
He said that the success of a social enterprise can be evaluated by looking at how many people have been brought under business and the standard of life of how many people have been improved.
On the suggestion that social media companies like Whatsapp too have create social impact, Vandana Goyal, Director, Akansha Foundation, said that not all businesses can be social enterprises just because they create value in society. “We can differentiate by looking at what problem you are trying to solve,” she said.
Speaking on the challenges, Neha Kirpal, director, India Art Fair, said that an entrepreneur should be ready to skirt every problem that comes his way.
“Failure as an entrepreneur is not inevitable but you know when you have got a problem every day and you need to solve them to not reach a breaking point,” she said.
Erik Azulay, Director NEXUS and Professor of Entrepreneurship at the University of Texas, said that entrepreneurs have a great role in “eradicating poverty, empowering women, and so much more.”
The panellists were welcomed by Binoy Job, Founder, LFT. Calling entrepreneurs as social thinkers, he said “wherever there’s a problem, they come up with a solution.”
“There are a lot of things affecting our society. An entrepreneur finds an opportunity to solve them,” he said.
The Summit, held in association with the American Centre of the US Embassy, was a part of LFT’s month-long Development Festival 2k18 that would bring together a million college youth in New Delhi.
Watch FB live of the session here.