This post was written by Atul Pandey, a Startup Weekend Education Sydney Co-Organizer.
The goal of most businesses is to make a profit. At the other end of the spectrum are charities with a goal for social good. Sitting somewhere in the middle are social business ventures.
A social business venture is specifically conceived and structured to drive social change. It may generate profits, but it doesn’t prioritize maximizing earnings for shareholders. Instead, profits are invested in the population or cause the enterprise serves and reinvested into the business.
These days, social entrepreneurs are solving some of the world’s most challenging social issues that are too risky for for-profit businesses and require resources and expertise that are beyond the reach of non-profits.
One such challenging area is global education. In recent years, the global education sector has struggled to cope with issues ranging from the achievement gap and limited accessibility to a general decline in educational quality. Cutbacks in government funding have stretched financial resources and have only deepened this crisis in education.
Today, more than ever before, there is a need for social entrepreneurs to step up and work on fixing global education. A new class of angel investors and VC firms that exclusively support social entrepreneurs is rising. Social Ventures Australia is a leader in this sector in Australia and works with innovative social entrepreneurs to create better education and employment outcomes for disadvantaged Australians by bringing the best of business to the social sector, and by working with partners to strategically invest capital and expertise.
Social Ventures Australia is one of the sponsors for the First Startup Weekend Education event in Australia held from 27th – 29th of June in Sydney. SVA has announced a special prize to mentor the winner of the best social venture idea from the Sydney SWEDU event.
Whether you want to create a business for profit or social good, come along to the Startup Weekend Education and bring your ideas to life in 54 hours.
Startup Weekend Education Sydney is 27th June 2014 – 29th June 2014 at Muru-D Campus, 363 Oxford St., Paddington, NSW Australia.