Strategic Horizon Network The Fundamentals of Social Enterprise Rebecca Arno Janney Carpenter David Miller Describe format – Q&A at the very end Strategic Horizon Network June 3, 2019

Why Social Enterprise? Social problems: complex and interconnected Traditional funding: inadequate “Moving the needle” requires all sectors: Private business Government Nonprofit organizations Colleges and universities

Not a New Approach

What is Social Enterprise? Entrepreneurship Innovation Enterprise “Organizations with a social purpose that earn some or all or their revenue from commercial activities” - Unknown “Innovative ways that organizations are using and adapting business strategies to advance social and environmental well-being” - Stanford Social Innovation Review Broadly defined, still open to possibilities

Diverse structures/intentions Nonprofit organizations: Charitable purpose with hybrid strategy, business activity strengthens mission Separate division or legal structure under NPO/NGO Earns significant revenue from business activities that enhance impact For-profit businesses with commitment: Social impact is “baked in” (product, business model, ownership, geography) Example: Public Benefit Corporation – Goals in addition to shareholder returns Hybrid social enterprises: Have integrated strategies for market-driven social change Strive for social impact AND financial sustainability Have legal commitment to social impact (vs. “socially conscious”) Range from impact-driven for-profits to enterprising nonprofits

Across the Continuum

Key Elements of a Successful Social Enterprise Fall in the love with problem, not solution Strategic clarity/Theory of Change Viable business model Performance metrics to guide strategy Right leadership at right time Mission aligned capital & legal structure

Stages of Social Enterprise Growth

12 University of Denver graduate students from 8 different graduate programs—highly competitive Students spend the fall quarter in the classroom with Janney, learning about social enterprise Students select 6 social enterprises through a “shark tank” process Two students from different disciplines spend the winter and spring quarters working with each social enterprise Students are paid $5,000 for the academic year and are expected to spend 10 hours per week

Project X-ITE connects all the resources of the University of Denver together to advance innovation, technology and entrepreneurship across our community, region and world. They support students who are launching ventures, and they work with faculty to design curricula that support innovation. Incubator X – student entrepreneurs, mentors, funding, for-credit available Pioneering Summer – 10-week accelerator for student ventures (usually these come through Incubator X Global Innovation Fellowships – stipend to work with a global organization working on SDGs or Grand Challenges

Small Group Discussion Is there an existing social enterprise at your college? How might your college initiate a social enterprise? What assets does your college have to build on in creating a social enterprise? Divide up into groups of 2 – 4 with people from different colleges We’ll have a brief report-out on your conversations afterwards

Questions? Or contact us... David Miller, Executive Director David.j.miller@du.edu Rebecca Arno, Director Rebecca.arno@du.edu Janney Carpenter, Faculty Director, Social Enterprise Fellowship Anne.carpenter@du.edu Divide up into groups of 2 – 4 with people from different colleges We’ll have a brief report-out on your conversations afterwards