What is Social Entrepreneurship. Can You Guess?

Published November 30th, 2021 - 08:37 GMT
Alaa Bliha
Jordanian make-up artist Alaa Bliha. (AFP File Photo)

In partnership with the Ministry of Digital Economy and Entrepreneurship, the United Nations Development Programme (UNDP) on Monday launched Jordan’s first annual Social Entrepreneurship Summit.

Supported by the Swiss Agency for Development and Cooperation (SDC) and Naua, a Crown Prince Foundation (CPF) initiative, the summit seeks to advance the development of the social entrepreneurship sector in Jordan, develop a thriving social economy, promote policy dialogues aimed to address challenges, and build on opportunities amongst youth innovators, social enterprises and startups in Jordan and the region.

Virtually joining the summit, Minister of Digital Economy and Entrepreneurship Ahmad Hanandeh, in his opening remarks said: “Today we are working on ensuring our social entrepreneurship policies, national strategy and a roadmap, gearing towards attracting impact investment, creating job opportunities for women and youth, contributing to economic recovery and ensuring effective digital transformation.”

He added that for about a week, there was a meeting regarding the final recommendations that reflect solutions to the challenges facing companies working in social entrepreneurship 

It is vital to increase the number of companies and people working in social entrepreneurship across the Kingdom’s governorates, due to the field’s positive impact on social, economic and political development, Hanandeh highlighted

“Social entrepreneurship is one of the prioritised sectors by the Ministry of Digital Economy and Entrepreneurship, so that Jordan would serve as a model in supporting and developing the social entrepreneurship sector,” he added.

During the summit, UNDP Resident Representative Randa Aboul-Hosn said: “Social enterprises are vital to increase economic growth, and social entrepreneurship is considered as one of the fastest growing business disciplines generating social impact.”

According to the EU, the social entrepreneurship sector currently employs around 40 million persons and engages over 200 million volunteers globally, Aboul-Hosn noted. 

She pointed out that strengthening the foundations of social entrepreneurship in Jordan attracts impact investors and enables a fair economy.

“The work and conclusion of this summit are essential in order to create a successful policy and a conducive regulatory environment,” she noted.

During the summit, the SDC launched its regional project, titled “Strengthening Social Entrepreneurship for Migration Development” (SEMD). 

The project will be active in Jordan, Egypt and Lebanon, aiming to strengthen social entrepreneurship ecosystems that enable innovative entrepreneurial solutions.

The summit was mainly attended by NGOs, Jordanian social enterprises, civil society and government representatives, as well as global leaders in social impact business development, in addition to UN experts, donors and social entrepreneurs.

According to a UNDP statement sent to The Jordan Times, participants will conduct an in-depth review of the Jordan social enterprise ecosystem during the two-day summit.

This article has been adapted from its original source.

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