Ideally, a social enterprise wouldn’t just turn a profit; it’d be a business that practices corporate social responsibility, helping the outside world without having to rely on donations or adhere to the same guidelines as traditional nonprofits.
Related: How Social Enterprises Can Benefit Businesses and the Communities They Serve
Take, for instance, Husk Power Systems, a social enterprise that was just awarded some hefty funding. Husk develops affordable, environmentally efficient minigrids that supply on-demand power to rural parts of Asia and Africa. The utility distributor recently garnered $20 million in a funding round led by Shell Technology Ventures with an eye toward expanding into India and Tanzania and potentially serving an additional 100,000 customers with affordable renewable power.
Husk’s funding round validates both the demand and benefit sides of pursuing a social enterprise. Ultimately, these ventures can give business leaders the chance to look good, do good, turn profits and inspire others.