Social Entrepreneurship’ emerged in the 1980s
when
Muhammad Yunus, the Noble laureate from Bangladesh, founded Grameen Bank which pioneered the concept of microcredit. He defined ‘
Social Entrepreneurship’ as the process of recognizing an opportunity to create social value and establish new business ventures to bring social change. He mentioned that Entrepreneurship is different from Social Entrepreneurship as the former aims to capture the business market share to maximum profits whereas the later aims to fill the market gap by providing sustainable solutions for social change and profit is just a means of financial stability. He discussed case studies of successful Social Entrepreneurs such as Bindeshwar Pathak (founder of Sulabh International), Vineet Rai (founder of Avishkar Social Venture), Harish Hande (founder of SELCO solar lighting firm), Sunita Ghose (founder of Rangsutra textile sourcing firm), Saloni Malhotra (founder of desire crew Rural BPO) etc. and high