The Rise of the Socially Conscious Business
Social Entrepreneurs Can Live Free in a Georgetown Mansion
Wouldn’t it be nice to take a break from the daily demands of everyday life to pursue an idea that would further civic responsibility? At the mythic Halcyon House, that is a very real possibility. Within this $11 million historic mansion is a program to create a hub of social innovation.
Usually, a program for social entrepreneurship would often be located in a modern, industrial space. An environmental experiment, this Federalist home provides a warm counterpoint to allow its residents to bask in a respite that is removed from modern view.
The Halcyon House, a 1787 mansion, sold for $11 million in 2007, and received $3 million in renovation to ready it for the inaugural class of entrepreneurs. According to the Post, this property is a temporary home to a select group of social innovators that apply with business ideas that make a positive impact.
Wheels ready to come off social enterprise bandwagon
NO DOUBT about it, the height of business chic at the moment is social enterprise. There are dozens of groups out there supporting the movement, from the Scottish Borders Social Enterprise Chamber right up to the Highlands and Islands Social Enterprise Zone. Others without a specific remit are also getting in on the act – the Scottish Institute for Enterprise chose the social theme for this year’s Young Innovators Challenge.
A Startup Accelerator For Social Entrepreneurs With A ‘Stakeholder Mindset’
There’s a mini-proliferation of social venture accelerators at the moment. But Conscious Venture Labin Columbia, Md., which is about to graduate its first cohort, is especially clear about its point of view: what Executive Director Jeff Cherry calls a “stakeholder mindset.”
That means operating with multiple parties in mind, what Cherry calls “stakeholder management.” Thus, the focus is on companies with a broader philosophy than addressing a social problem through a commercial entity.