This volume – part of a series on methods and issues in social innovation – focuses on how to establish and grow a social venture.
- Launching a social venture involves: effective business and governance models; sources of finance; a network and communications model; a staffing model that includes the role of volunteers; and a development plan for operational systems.
- Ownership of social ventures is not a financial concept. It needs to reflect the venture’s mission and involve the decision-makers.
- It is vital to align the goals of the venture’s finances to its mission and to find forms of financing that strengthen the enterprise.
- The relationships surrounding and supporting a social venture are as important as its financial capital. They are the foundation of successful ventures’ strength and distinctiveness.
This report is the result of collaboration between Nesta and the Young Foundation. It provides a set of accounts of how social innovation actually happens, and is a guide that should help to produce a stronger, more informed approach to social innovation.
Social ventures and their capacity to innovate and integrate are needed as central players in the 21st century economy. But how do they work? What are their key ingredients? What is it that they are able to do that 20th century organisations find so difficult? What goes on beneath the surface of their success?
This publication looks at these issues to understand what makes a successful social venture. It is part of the Social Innovator series, which focuses on ways to design, develop and grow social innovation.
Robin Murray, Julie Caulier-Grice and Geoff Mulgan