During the Halcyon Flagship Residential Fellowship, a diverse cohort of fellows receives free residency. And workspace, mentorship and leadership coaching, robust support from business consultants. And a living stipend to develop their entrepreneurial vision.
What is social entrepreneurship? A social entrepreneur is one or more individuals who want to contribute to the creation of a new solution to a social problem. They may invent a new technological solution or develop a service that helps solve the problem – often more effectively than before. A social entrepreneur is a person who pursues novel applications that have the potential to solve community-based problems. These individuals are willing to take on the risk and effort to create positive changes in society through their initiatives.
Child Rights foundations, plants for the treatment of waste products, and women empowerment foundations are a few examples of social ventures. Social entrepreneurs can be those individuals who are associated with non-profit and non-government organizations that raise funds through community events and activities.
They act as role models to motivate the youth to initiate action to bring positive social change in society. Social entrepreneurs address global problems such as poverty, unemployment, gender inequality, inadequate education and health facilities and policies, inefficient governance, etc.
Halcyon Flagship Residential Fellowship
The Halcyon Incubator is committed to solving 21st-century challenges throughout the nation and the world. By helping social entrepreneur fellows transform audacious ideas into scalable and sustainable ventures, the Incubator acts as a catalyst for measurable social outcomes. During the Halcyon Flagship Residential Fellowship, a diverse cohort of fellows receives free residency and workspace, mentorship and leadership coaching, robust support from business consultants, and a living stipend to develop their entrepreneurial vision.
Application Deadline: April 8th, 2022
Eligibility Requirements
To be eligible for the Halcyon Flagship Residential Fellowship, you:
- May be from anywhere in the world and your venture may be focusing on any business sector, as long as it is an early-stage impact-driven venture (i.e. prioritizes social and/or environmental good along with business success)
- Must be the CEO and/or hold primary decision-making power in the growth and strategic vision for the venture’s development and management
- Must be able to make a full-time commitment to work on the venture during the residency phase (September 11th, 2022- January 14th, 2023)
- Would be able to postpone any undergraduate or graduate course work during the residency phase (September 11th, 2022- January 14th, 2023)
- Must already live or work in the U.S. or be able to obtain a visa for the residency phase (September 11th, 2022- January 14th, 2023)
- should be fluent in English
- May be at least 21 years of age by the start of the program
- May apply on your own or with up to one Co-Founder who meets the above eligibility requirements.
- They must be willing to contribute to the growth and development of Halcyon’s fellow community
To be eligible for the Halcyon Flagship Residential Fellowship, your venture:
- It must be an original idea of the applicant(s)
- Try to be early-stage (you are too far along to benefit from Halcyon’s fellowships if your venture is earning $500,000 USD in annual recurring revenue)
- Must be an independent or autonomous venture that is not under the direction of an existing organization
- They have plans for a sustainable business model to generate revenue by selling a core product or service
- Must be a for-profit or hybrid venture with the core mission is to create measurable social and/or environmental change
- It May not be a 501(c)(3) non-profit venture
Fellows engage with the program in two major stages:
PHASE 1: RESIDENCY
Residency (5 months): Fellows live and work at Halcyon’s headquarters in Washington, DC, with total access to expert guidance. They participate in core programming that includes family breakfast, pitch sessions, skill series, advisor office hours, and more. Hard work and dedication during this phase culminates in a final showcase to a curated audience of partners, mentors, advisors, supporters, and potential investors.
PHASE 2: POST-RESIDENCY
Post-residency (13 months): Fellows continue to have access to free workspace at Halcyon. With additional resources available to build their networks, secure funding, and grow their venture.
Benefits
- Rent-free housing in Washington, D.C. during the residency period
- A lifelong community of fellows in social enterprise
- Pro bono leadership coaching
- 1-year pro bono legal support
- Pro bono Deloitte consulting
- Individual mentor
- $10,000 stipend
- Skills training sessions
- Peer learning sessions
- Access to a world-class network of advisors
- Opportunities for investment
For More Information:
Visit the Official Webpage of the Halcyon Flagship Residential Fellowship 2022
What Is a Social Entrepreneur?
A social entrepreneur is a person who pursues novel applications that have the potential to solve community-based problems. These individuals are willing to take on the risk and effort to create positive changes in society through their initiatives. Social entrepreneurs may believe that this practice is a way to connect you to your life’s purpose, help others find theirs, and make a difference in the world (all while eking out a living).
Widespread use of ethical practices—such as impact investing, conscious consumerism, and corporate social responsibility programs—facilitates the success of social entrepreneurs.
Understanding Social Entrepreneurs
While most entrepreneurs are motivated by the potential to earn a profit, the profit motive does not prevent the ordinary entrepreneur from having a positive impact on society. In his book The Wealth of Nations, the economist Adam Smith explained, “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest.”
Smith believed that when individuals pursued their own best interests, they would be guided toward decisions that benefited others. The baker, for example, wants to earn a living to support his family. To accomplish this, they produce a product—bread—which feeds and nourishes hundreds of people.
One example of social entrepreneurship is microfinance institutions. These institutions provide banking services to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. Other examples of social entrepreneurship include educational programs, providing banking services in underserved areas, and helping children orphaned by epidemic disease. All of these efforts are intended to address unmet needs within communities that have been overlooked or not granted access to services, products, or base essentials available in more developed communities.
A social entrepreneur might also seek to address imbalances
A social entrepreneur might also seek to address imbalances in such availability, the root causes behind such social problems, or the social stigma associated with being a resident of such communities. The main goal of a social entrepreneur is not to earn a profit. Rather, a social entrepreneur seeks to implement widespread improvements in society. However, a social entrepreneur must still be financially savvy to succeed in his or her cause.
However, Social entrepreneurship is related to socially responsible investing (SRI) and environmental, social, and governance (ESG) investing. SRI is the practice of investing money in companies and funds that have positive social impacts. SRI has also grown in popularity in recent years. Socially responsible investors will often eschew investments in companies that produce or sell addictive substances (like alcohol, gambling, and tobacco). They may also seek out companies that are engaged in social justice, environmental sustainability, and alternative energy/clean technology efforts.
Socially conscious investors screen potential new investments for environmental, social, and governance (ESG) criteria. Therefore, a set of standards considers how a company performs as a steward of nature. How it manages relationships with employees, suppliers, customers. And the communities where it operates, and how it treats its company’s leadership, compensate its executives. And approaches audits, internal controls, and shareholder rights.
In Conclusion
The development of mobile apps that speak to the needs of a particular community is another way social entrepreneurship is expressed. This can include giving individuals ways to alert their city administrations to problems such as burst water mains, downed powerlines, or patterns of repeated traffic accidents.
There are also apps created to report infractions committed by city officials or even law enforcement that can help give a voice to the community through technology.
However, if there is anything you think we are missing. Don’t hesitate to inform us by dropping your advice in the comment section.
Either way, let me know by leaving a comment below!
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