The recent World Economic Forum’s Special Meeting on Global Collaboration, Growth, and Energy for Development brought together a panel of experts to deliberate on the increase of social entrepreneurs globally. As per a report co-authored by the World Economic Forum, social enterprises currently uphold 200 million jobs and yield $2 trillion in annual revenue worldwide. This sector undeniably contributes significantly to global challenges and offers vital solutions to pressing issues.
Lynn Malkawi, Curator of the Amman Hub, underscored the significance of entrepreneurship education in addressing youth unemployment and nurturing social entrepreneurs. She affirmed that furnishing young individuals with the knowledge and skills to establish businesses and social impact initiatives from an early age is paramount. Malkawi also emphasized the imperative need for collaborative endeavours between the public and private sectors to invest in human capital and education, thus equipping youths with essential tools for entrepreneurship.
The deliberations also shed light on the role of awareness-raising in inspiring individuals towards social entrepreneurship. Anne-Laure Malauzat, a Partner at Bain & Company, expounded upon the necessity of shifting mindsets and educating people about social innovation to encourage greater participation in social entrepreneurship. She emphasised the need for people to comprehend that entrepreneurship does not solely pertain to running non-profit organisations, and that there exist diverse methods of incorporating social impact into businesses.
Mae Al Mozaini, Founder and CEO of The Arab Institute for Women’s Empowerment (Nusf), highlighted the necessity for role models and mentors to guide aspiring entrepreneurs, especially in light of the challenges brought about by the COVID-19 pandemic. Mozaini stressed the importance of extending support and mentorship opportunities to those seeking to venture into the realm of social entrepreneurship.
In conclusion, the imperative need for entrepreneurship education, raising awareness of social innovation, and providing mentorship for aspiring entrepreneurs are pivotal factors in nurturing a new generation of social entrepreneurs. By addressing these areas and supporting young individuals in their entrepreneurial journey, it is possible to establish a flourishing ecosystem of social enterprises capable of making a meaningful impact on societal challenges.