InnoVersant's thrust on Corporate Social Entrepreneurship stems from deep-rooted tradition, passed down generations to its founders, encompassing socially responsible and ethical business and inclusive growth ideals.

Social entrepreneurship although not altogether a recent concept, has recently gained much attention from academics and practitioners alike with regards to its potential in discovering innovative avenues towards social/economic progress and development. However, in order for social entrepreneurship to prosper, a better understanding is needed about how to make it sustainable in the long run in the face of limited resources and access.

Funding from interested multinationals and affluent individuals is seen as a possible answer but it is a short-term solution at best. Partnerships between big businesses and social entrepreneurs may be the best way of resolving resource constraints, addressing societal problems and serving previously under-served communities and markets in a sustainable manner.

At InnoVersant, we believe that the case for businesses to get directly involved with social enterprises in their core business practices is extremely strong. InnoVersant’s thrust towards Corporate Social Responsibility and Corporate Social Entrepreneurship is based on the following concepts:

Some of the solutions we offer include:

• Values-based leadership, the synergistic generation of social and economic value, and strategic cross-sector alliances are key ingredients to achieving a sustainably successful business.
• For companies to move their corporate social responsibility (CSR) activities to the next level, they need to rethink their current approaches to CSR, tapping into the creativity of each individual.
• Like all entrepreneurship, Corporate Social Entrepreneurship (CSE) is about creating disruptive change in the pursuit of new opportunities. It combines the willingness and desire to create joint economic and social value with the entrepreneurial redesign, systems development, and action necessary to carry it out.

If managed correctly such partnerships can result in a multitude of benefits for the business including increased opportunity for corporate responsibility combined with profitability, enhanced reputation and local licence to operate, improved integration in new markets and the increased ability to assess the needs of and access to consumers at the base of the economic pyramid.

Indeed, the market fundamentalists ask: Why bother with CSR, if the raison d'etre of business is to maximise profitability for the shareholders? So, whilst some claim that the business case for CSR is unproven, other studies have shown a positive relationship between CSR and financial performance. This is of particular relevance in the wake of the global financial crisis caused by financial irregularities and lapses in corporate governance and personal integrity.

The inherent long-term benefits for corporate entities to partner with Social Entrepreneurs are best understood by initiating partnerships and programs of mutual interest and benefits.

How can big businesses reach out to front-line social entrepreneurs who are not included in the formal debate (conferences and workshops) on partnering but whose practical experiences could be of value to corporations?

Probably by working with a “enabling” partner whose role it will be to deliver working partnerships, and who are equally convinced by the value of such an endeavour. InnoVersant is one such enabler for such corporate and social entrepreneurs, striving to put together platforms on which businesses and social entrepreneurs can meet, interact and develop sustainable partnerships.

A suitable example to cite would be the recent NSEF Confluence 2010 held at Bangalore in October 2010, in which various social entrepreneurs, students, working executives and several corporate entities participated and discussed various social entrepreneurial issues.

If you are interested in being part of InnoVersant’s CSE programs,
please contact us at:CSE@innoversant.com