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144-544: Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs , in which they develop, fund and implement solutions to social, cultural, or environmental issues. This concept may be applied to a wide range of organizations, which vary in size, aims, and beliefs. For-profit entrepreneurs typically measure performance using business metrics like profit , revenues and increases in stock prices . Social entrepreneurs, however, are either non-profits , or they blend for-profit goals with generating

288-407: A Nobel Peace Prize for his efforts. Others, such as former Indianapolis mayor Stephen Goldsmith , addressed social efforts on a local level by using the private sector to provide city services. Bill Drayton founded Ashoka in 1980, an organization which supports local social entrepreneurs. Drayton tells his employees to look for four qualities: creativity, entrepreneurial quality, social impact of

432-577: A Bachelor of Arts degree at Meerut College in 1932. At that point, his mother was diagnosed with tuberculosis . She died in the same year at the age of 36. Khan continued his studies and was awarded a Master of Arts in English Literature from Agra University in 1934. He worked as a lecturer at Meerut College before joining the Indian Civil Service (ICS) in 1936. As part of the ICS training, he

576-664: A Stanford's research park became a veritable startup avalanche... Thus, over the course of just 20 years, a mere eight of Shockley's former employees gave forth 65 new enterprises, which then went on to do the same... Startup advocates are also trying to build a community of tech startups in New York City with organizations like NY Tech Meet Up and Built in NYC. In the early 2000s, the patent assets of failed startup companies were being purchased by people known as patent trolls , who assert those patents against companies that might be infringing

720-507: A balanced "risk/reward" profile (in which high risk due to the untested, disruptive innovations is balanced out by high potential returns) and "scalability" (the likelihood that a startup can expand its operations by serving more markets or more customers). Attractive startups generally have lower " bootstrapping " (self-funding of startups by the founders) costs, higher risk, and higher potential return on investment . Successful startups are typically more scalable than an established business, in

864-642: A break to work as director of the Village Agricultural and Industrial Development (V-AID) Programme. However, he was not satisfied with the development approach adopted in the programme that was limited to the training of villagers. In 1958, he went to Michigan State University to acquire education and training in rural development. Returning in 1959, he established the Pakistan Academy for Rural Development (PARD, eventually renamed as Bangladesh Academy for Rural Development ) at Comilla on 27 May 1959 and

1008-438: A broader (regional, country level or even global) level which influence their immediate environment. Many researchers such as P. N. Bloom and J. G. Dees attempted to develop an ecosystem model for social entrepreneurs. The ecosystem model proposed by them comprises all the actors operating in the ecosystem, as well as the larger environment the laws, policies, social norms, demographic trends, and cultural institutions within which

1152-423: A business partner) in a market with a dominant design (a clear standard is applied in this market). In contrast to this, profile is the originator which has a management style that is highly entrepreneurial and in which a radical invention or a disruptive innovation (totally new standard) is being developed. This profile is set out to be more successful (in finding a business partner) in a market that does not have

1296-408: A business plan in place outlines what to do and how to plan and achieve an idea in the future. Typically, these plans outline the first three to five years of your business strategy. Models behind startups presenting as ventures are usually associated with design science . Design science uses design principles considered to be a coherent set of normative ideas and propositions to design and construct

1440-537: A business sense; instead, they may be charities, non-profit organizations or voluntary sector organizations. In addition, there are support organizations dedicated to empowering social entrepreneurs, connecting them with mentors , strengthening their enterprise models, and preparing them for capital investments . These incubators and accelerator organizations provide office and meeting space (often free), mentoring and coaching for social enterprise founders and leaders to help them develop their enterprises by improving

1584-462: A certain level of effectiveness. The Internet, social networking websites and social media have been pivotal resources for the success and collaboration of many social entrepreneurs. In the 2000s, the Internet has become especially useful in disseminating information to a wide range of like-minded supporters in short amounts of time, even if these individuals are geographically dispersed. In addition,

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1728-710: A clearer definition of what social entrepreneurship entails, it is necessary to set the function of social entrepreneurship apart from other voluntary sector and charity-oriented activities and identify the boundaries within which social entrepreneurs operate. Some scholars have advocated restricting the term to founders of organizations that primarily rely on earned income (meaning income earned directly from paying consumers), rather than income from donations or grants. Others have extended this to include contracted work for public authorities, while still others include grants and donations. Social entrepreneurship in modern society offers an altruistic form of entrepreneurship that focuses on

1872-424: A company's value is based on its technology, it is often equally important for the business owners to obtain intellectual property protection for their idea. The newsmagazine The Economist estimated that up to 75% of the value of US public companies is now based on their intellectual property (up from 40% in 1980). Often, 100% of a small startup company's value is based on its intellectual property. As such, it

2016-668: A comprehensive ecosystem model in the context of the Indian microfinance sector that can be also used by other social enterprises as a framework to understand their own ecosystem and formulate their strategy. The researchers define the ecosystem as consisting of "the complex and evolving network of the focal organization (social enterprise) and all other individuals and organizations that the focal organization interact with including competitors, suppliers, complementors, customers, beneficiaries, regulators, resource providers, etc. that directly or indirectly influence each other; their interactions, as also

2160-411: A decade of the initiative, local residents had established schools, health clinics, women's work centres, cooperative stores and a credit organisation to finance enterprise projects. By 1993, OPP had managed to provide low-cost sewers to more than 72,000 houses. The project subsequently diversified into a number of programmes, including a people's financed and managed low-cost sanitation programme;

2304-441: A dominant design (established standard). New startups should align themselves to one of the profiles when commercializing an invention to be able to find and be attractive to a business partner. By finding a business partner, a startup has greater chances of success. Startups usually need many different partners to realize their business idea. The commercialization process is often a bumpy road with iterations and new insights during

2448-456: A dysfunctional founding team, a poor business plan, or just a flawed product-market fit as examples of the primary sources of failure. The lack of human and financial resources or even dedicated patent attorneys in the early stages of a startup makes it difficult to compete with larger companies, and likewise increases the time and reduces the probability of patent applications. Failed entrepreneurs, or restarters, who after some time restart in

2592-772: A form of online investing that has been legalized in several nations, startups did not advertise themselves to the general public as investment opportunities until and unless they first obtained approval from regulators for an initial public offering (IPO) that typically involved a listing of the startup's securities on a stock exchange . Today, there are many alternative forms of IPO commonly employed by startups and startup promoters that do not include an exchange listing, so they may avoid certain regulatory compliance obligations, including mandatory periodic disclosures of financial information and factual discussion of business conditions by management that investors and potential investors routinely receive from registered public companies. Over

2736-470: A fun work environment, stimulate team development and team spirit, and encourage creativity. Some of the casual approaches, such as the use of "flat" organizational structures, in which regular employees can talk with the founders and chief executive officers informally, are done to promote efficiency in the workplace, which is needed to get their business off the ground. In a 1960 study, Douglas McGregor stressed that punishments and rewards for uniformity in

2880-441: A great disparity of conceptualizations. These should be arranged in 5 clusters of meaning, according to the focus given and the conceptual framework assumed by the researcher. The first group of authors focuses on the person of the entrepreneur, being the mainstream definition. J. G. Dees argues that social entrepreneurship is the result and the creation of an especially creative and innovative leader. Social entrepreneurs can include

3024-587: A housing programme; a basic health and family planning programme; a programme of supervised credit for small family enterprise units; an education programme; and a rural development programme in the nearby villages. Comparing the OPP with Comilla project, Akhter Hameed Khan once commented: The Orangi Pilot Project was very different from the Comilla Academy. OPP was a private body, dependent for its small fixed budget on another NGO. The vast resources and support of

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3168-489: A huge speed before running out of resources. Proactive actions (experimentation, searching, etc.) enhance a founder's learning to start a company. To learn effectively, founders often formulate falsifiable hypotheses , build a minimum viable product (MVP), and conduct A/B testing . With the key learnings from market validation, design thinking, and lean startup, founders can design a business model. However it's important not to dive into business models too early before there

3312-513: A lack of financing or investor interest. These common mistakes and missteps that happen early in the startup journey can result in failure, but there are precautions entrepreneurs can take to help mitigate risk. For example, startup studios offer a buffer against many of the obstacles that solo entrepreneurs face, such as funding and insufficient team structure, making them a good resource for startups in their earliest phases. Another large study of 160.000 failed companies, identified key factors such as

3456-556: A larger audience. Prominent individuals associated with social entrepreneurship include Pakistani Akhter Hameed Khan and Bangladeshi Muhammad Yunus , a leader of social entrepreneurship in South Asia . Yunus was the founder of Grameen Bank , which pioneered the concept of microcredit for supporting innovators in multiple developing countries in Asia , Africa , and Latin America . He received

3600-592: A lot with different levels and models of freedom and restrictions. In many countries there are no limitations restricting general public from investing to startups, while there can still be other types of restrictions in place, like limiting the amount that companies can seek from investors. Due to positive development and growth of crowdfunding, many countries are actively updating their regulation in regards to crowdfunding. Akhter Hameed Khan Akhter Hameed Khan ( Urdu : اختر حمید خان , pronounced [ˈəxt̪ər ɦəˈmiːd̪ xaːn] ; 15 July 1914 – 9 October 1999)

3744-403: A lower cost. It is based on the idea that entrepreneurs can make their implicit assumptions about how their venture works explicit and empirically testing it. The empirical test is to de/validate these assumptions and to get an engaged understanding of the business model of the new ventures, and in doing so, the new ventures are created iteratively in a build–measure–learn loop. Hence, lean startup

3888-495: A new Accelerator investment model was introduced by Y Combinator that combined fixed terms investment model with fixed period intense bootcamp style training program, to streamline the seed/early-stage investment process with training to be more systematic. Following Y Combinator, many accelerators with similar models have emerged around the world. The accelerator model has since become very common and widely spread and they are key organizations of any Startup ecosystem . Title II of

4032-463: A number of ways, including surveys, cold calling, email responses, word of mouth or through sample research. Design thinking is used to understand the customers' need in an engaged manner. Design thinking and customer development can be biased because they do not remove the risk of bias because the same biases manifest in the sources of information, the type of information sought, and the interpretation of that information. Encouraging people to consider

4176-430: A percentage of monthly revenue. Venture capital firms and angel investors may help startup companies begin operations, exchanging seed money for an equity stake in the firm. Venture capitalists and angel investors provide financing to a range of startups (a portfolio), with the expectation that a very small number of the startups will become viable and make money. In practice though, many startups are initially funded by

4320-497: A position that brought him into regular contact with living conditions in rural areas of East Bengal . The Bengal famine of 1943 and subsequent handling of the situation by the colonial rulers led him to resign from the Indian Civil Service in 1945. He wrote, "I realized that if I did not escape while I was young and vigorous, I will forever remain in the trap, and terminate as a bureaucratic big wig." During this period, he

4464-406: A positive "return to society". Therefore, they use different metrics. Social entrepreneurship typically attempts to further broad social, cultural and environmental goals often associated with the voluntary sector in areas such as poverty alleviation, health care and community development . At times, profit-making social enterprises may be established to support the social or cultural goals of

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4608-434: A powerful team: the product person (e.g. an engineer), a marketing person (for market research , customer interaction, vision) and a finance or operation's person (to handle operations or raise funds). The founder that is responsible for the overall strategy of the startup plays the role of founder-CEOs, much like CEOs in established firms. Startup studios provide an opportunity for founders and team members to grow along with

4752-441: A problem. The founder of a startup will do the market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype , to develop and validate their business models. The startup process can take a long period of time; hence, sustaining effort is required. Over the long term, sustaining effort is especially challenging because of the high failure rates and uncertain outcomes. Having

4896-401: A profit but to address suffering. Muhammad Yunus says about this characteristic, "He (or she) competes in the marketplace with all other competitors but is inspired by a set of social objectives. This is the basic reason for being in the business." Because the world of social entrepreneurship is relatively new, existing now for over a few decades, there are challenges facing those who delve into

5040-425: A range of career types and professional backgrounds, ranging from social work and community development to entrepreneurship and environmental science . For this reason, it is difficult to determine who is a social entrepreneur. David Bornstein has even used the term "social innovator" interchangeably with social entrepreneur, due to the creative, non-traditional strategies that many social entrepreneurs use. For

5184-426: A situation that frightens them and then place the candidate in the situation with them. If they feel comfortable in this scenario, the entrepreneur has ethical fiber. One distinguishing attribute of entrepreneurs is that they rarely take credit for making change. They insist that the change they have brought about is due to everyone around them. They also tend to be driven by emotion; they are not trying primarily to make

5328-434: A source of inspiration for his students and colleagues, and continue to serve as guiding principles even after his death. Edgar Owens, who became an admirer of Khan's ideology while working at USAID's Asia Bureau, co-authored a book with Robert Shaw as a result of observations and discussions with Khan at Comilla Academy. A later study of various rural development experiences from South Asia, edited by Uphoff and Cambell (1983)

5472-471: A startup, there are different types of stages in which the investor can participate. The first round is called seed round . The seed round generally is when the startup is still in the very early phase of execution when their product is still in the prototype phase. There is likely no performance data or positive financials as of yet. Therefore, investors rely on strength of the idea and the team in place. At this level, family friends and angel investors will be

5616-404: A two-tiered cooperative system with primary cooperatives operating in the villages, and federations operating at sub-district level. After Khan's departure from Comilla, the cooperative's model failed in independent Bangladesh because only a few occupational groups managed to achieve the desired success. By 1979, only 61 of the 400 cooperatives were functioning. The model actually fell prey to

5760-662: A visiting professor at Lund University , Harvard University , and the University of Oxford . In 1980, Khan moved to Karachi and started working on the improvement of sanitary conditions in Karachi suburbs. He laid the foundations of the Orangi Pilot Project for the largest squatter community of Orangi in the city. He remained associated with this project until his death in 1999. Meanwhile, he maintained his support for rural communities around Karachi, and also helped to develop

5904-626: A visiting professor in 1973 and remained there until 1979. During this time, he carried on advising the Rural Development Academy at Bogra in northern Bangladesh, and the Pakistan Academy for Rural Development, Peshawar , on the Daudzai Integrated Rural Development Programme. In 1974, he was appointed as a World Bank consultant to survey rural development situations in Java , Indonesia. He also briefly worked as

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6048-528: Is Andrew Mawson OBE , who was given a peerage in 2007 because of his urban regeneration work including the Bromley by Bow Centre in East London. Although the terms are relatively new, social entrepreneurs and social entrepreneurship may be found throughout history. A list of a few noteworthy people whose work exemplifies the modern definition of "social entrepreneurship" includes Florence Nightingale , founder of

6192-622: Is Muhammad Yunus , who founded the Grameen Bank in 1976. He is known as the "father of microcredit ," and established the microfinance movement, which aims to help millions of people rural communities to access small loans. For his work, he was awarded a Nobel Peace Prize in 2006. The work that Yunus did through Grameen Bank has been described as a major influence on later social entrepreneurs. Larger countries in Europe and South America have tended to work more closely with public organizations at both

6336-472: Is a set of principles for entrepreneurial learning and business model design. More precisely, it is a set of design principles aimed for iteratively experiential learning under uncertainty in an engaged empirical manner. Typically, a lean startup focuses on a few lean principles: A key principle of startup is to validate the market need before providing a customer-centric product or service to avoid business ideas with weak demand. Market validation can be done in

6480-724: Is considered to be a "strong" startup ecosystem. One of the most famous startup ecosystems is Silicon Valley in California, where major computer and internet firms and top universities such as Stanford University create a stimulating startup environment. Boston (where Massachusetts Institute of Technology is located) and Berlin , home of WISTA (a top research area), also have numerous creative industries , leading entrepreneurs and startup firms. Basically, attempts are being made worldwide, for example in Israel with its Silicon Wadi , in France with

6624-578: Is distinct from the concept of entrepreneurship , yet still shares several similarities with its business cousin. Jean-Baptiste Say (1767–1832), a French economist, defined an entrepreneur as a person who "undertakes" an idea and shifts perspectives in a way that it alters the effect that an idea has on society. An entrepreneur is further defined by Say as someone who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." The difference between "entrepreneurship" and "social entrepreneurship", however, stems from

6768-478: Is effective in increasing the entrepreneurial attitudes and perceived behavioral control, helping people and their businesses grow. Most of startup training falls into the mode of experiential learning, in which students are exposed to a large extent to a real-life entrepreneurship context as new venture teams. An example of group-based experiential startup training is the Lean LaunchPad initiative that applies

6912-660: Is equipped to measure. About this, the Schwab Foundation says that entrepreneurs have "A zeal to measure and monitor their impact. Entrepreneurs have high standards, particularly in relation to their own organization's efforts and in response to the communities with which they engage. Data, both quantitative and qualitative, are their key tools, guiding continuous feedback and improvement." Ashoka operates in multiple countries. Entrepreneurial quality builds from creativity. Not only do entrepreneurs have an idea that they must implement, they know how to implement it and are realistic in

7056-412: Is founded upon the exchange of capital (most obviously, money) for goods and services. However, social entrepreneurs must find new business models that do not rely on standard exchange of capital in order to make their organizations sustainable. This self-sustainability is what distinguishes social businesses from charities, who rely almost entirely on donations and outside funding. Social entrepreneurship

7200-416: Is important for technology-oriented startup companies to develop a sound strategy for protecting their intellectual capital as early as possible. Startup companies, particularly those associated with new technology, sometimes produce huge returns to their creators and investors—a recent example of such is Google, whose creators became billionaires through their stock ownership and options. When investing in

7344-429: Is sufficient learning on market validation. Paul Graham said: "What I tell founders is not to sweat the business model too much at first. The most important task at first is to build something people want. If you don't do that, it won't matter how clever your business model is." Founders or co-founders are people involved in the initial launch of startup companies. Three people are mainly required as co-founders to create

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7488-503: Is that in some cases, social entrepreneurs may only propose short-term solutions, or that they are unable to scale up their virtual, online organization to a larger degree to maximize the number of people who are helped. Government programs are able to tackle large issues; however, there is often little collaboration between governments and social entrepreneurs, which may have limited the effectiveness of social entrepreneurship. This lack of inter-sectoral collaboration may lead to stagnation, if

7632-608: The Aga Khan Rural Support Programme . OPP became a model for participatory bottom-up development initiatives. The Comilla Model (1959) was Khan's initiative in response to the failure of a Village Agricultural and Industrial Development (V-AID) programme that was launched in 1953 in East and West Pakistan with technical assistance from the US government. V-AID remained a government-level attempt to promote citizen participation in

7776-468: The Ford Foundation , and USAID . Comilla Model simultaneously addressed the problems that were caused by the inadequacy of both local infrastructure and institutions through a range of integrated programmes. The initiatives included the establishment in every thana of: a training and development centre; a road-drainage embankment works programme; a decentralized, small scale irrigation programme; and,

7920-746: The Great Depression , which was blamed in part on a rise in speculative investments in unregulated small companies, startup investing was primarily a word of mouth activity reserved for the friends and family of a startup's co-founders, business angels, and Venture Capital funds. In the United States, this has been the case ever since the implementation of the Securities Act of 1933 . Many nations implemented similar legislation to prohibit general solicitation and general advertising of unregistered securities, including shares offered by startup companies. In 2005,

8064-682: The Inovallée or in Italy in Trieste with the AREA Science Park , to network basic research, universities and technology parks in order to create a startup-friendly ecosystem. Although there are startups created in all types of businesses, and all over the world, some locations and business sectors are particularly associated with startup companies. The internet bubble of the late 1990s was associated with huge numbers of internet startup companies, some selling

8208-497: The Jumpstart Our Business Startups Act (JOBS Act), first implemented on 23 September 2013, granted startups in and startup co-founders or promoters in US. the right to generally solicit and advertise publicly using any method of communication on the condition that only accredited investors are allowed to purchase the securities. However the regulations affecting equity crowdfunding in different countries vary

8352-655: The Schwab Foundation for Social Entrepreneurship , New Profit Inc. , National Social Entrepreneurship Forum , and the Global Social Benefit Institute among others, promote and providing resources to advance the initiatives of social entrepreneurs. The North American organizations tend to have a strongly individualistic stance focused on a handful of exceptional leaders. For example, The Skoll Foundation, created by eBay 's first president, Jeff Skoll , makes capacity-building " mezzanine level " grants to social entrepreneurial organizations that already have reached

8496-496: The self-efficacy of nascent entrepreneurs. Mentoring offers direction for entrepreneurs to enhance their knowledge of how to sustain their assets relating to their status and identity and strengthen their real-time skills. There are many principles in creating a startup. Some of the principles needed are listed below: Lean startup is a clear set of principles to create and design startups under limited resources and tremendous uncertainty to build their ventures more flexibly and at

8640-501: The "world's most successful entrepreneur of social enterprises". Young created more than sixty new organizations worldwide, including the School for Social Entrepreneurs (SSE) which exists in the UK, Australia, and Canada and which supports individuals to realize their potential and to establish, scale, and sustain, social enterprises and social businesses . Another notable British social entrepreneur

8784-494: The 'less poor'. However, Khan's leadership skills during the course of his association with the project remained a source of inspiration for these leaders, as well as other participatory development initiatives in the country. The Orangi poverty alleviation project (known as the Orangi Pilot Project, or OPP) was initiated by Khan as an NGO in 1980. Orangi is located on the northwest periphery of Karachi. At that time, it

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8928-434: The 1950s and since then has been gaining more momentum. Despite this, after decades of efforts to find a common ground to define the concept, no consensus has been reached. The dynamic nature of the object and the multiplicity of the conceptual lens used by researchers has made it impossible to capture it, to such an extent that scholars have compared it with a mythological beast. Scholars have different backgrounds, generating

9072-479: The 1980s he started a bottom-up community development initiative of Orangi Pilot Project , based in the outskirts of Karachi , which became a model of participatory development initiatives. He also directed many programmes, from microcredit to self-finance and from housing provision to family planning , for rural communities and urban slums . It earned him international recognition and high honours in Pakistan. Khan

9216-558: The Akhter Hameed Khan Memorial Award. The annual cash award is given on Khan's birthday to a Pakistani author for a book on issues related to rural and urban development, peace, poverty alleviation , or gender discrimination . At the occasion of the award ceremony in 2006, a documentary film about the life and times of Akhter Hameed Khan was premiered. The film includes archival footage and interviews with family members, colleagues, and contributors and beneficiaries of

9360-568: The Comilla and OPP projects. The Akhter Hameed Khan Resource Centre (AHK Resource Center)was established in Islamabad , under the auspices of the Institute of Rural Management, as a repository of published and digital resources on rural development. The Akhter Hameed Khan Resource Center was initially formed in 2010 as a repository of works and writings by Khan and his mentee Shoaib Sultan Khan; after 2015

9504-506: The Internet allows for the pooling of design resources using open source principles. Using wiki models or crowdsourcing approaches, for example, a social entrepreneur organization can get hundreds of people from across a country (or from multiple countries) to collaborate on joint online projects (e.g., developing a business plan or a marketing strategy for a social entrepreneurship venture). These websites help social entrepreneurs to disseminate their ideas to broader audiences, help with

9648-457: The Internet. Startups can receive funding via more involved stakeholders, such as startup studios. Startup studios provide funding to support the business through a successful launch, but they also provide extensive operational support, such as HR, finance and accounting, marketing, and product development, to increase the probability of success and propel growth. Startup are funded through preset rounds, depending on their funding requirement and

9792-445: The actors play. Similarly, Dees et al. (2008) developed a framework to describe the key elements of the social entrepreneurship ecosystem in which they organized the elements into two broad categories – capital infrastructure and context-setting factors. More recently in 2020, Debapratim Purkayastha , T. Tripathy and B. Das extended the business ecosystem literature to the social policy and social entrepreneurship arena. They developed

9936-590: The benefits that society may reap. Entrepreneurship becomes a social endeavor when it transforms social capital in a way that affects society positively. If a person's behaviour or motives are altruistic, they show concern for the happiness and welfare of other people rather than for themselves. Social entrepreneurship is viewed as advantageous because the success of social entrepreneurship depends on many factors related to social impact that traditional corporate businesses do not prioritize. Social entrepreneurs recognize immediate social problems, but also seek to understand

10080-698: The broader context of an issue that crosses disciplines, fields, and theories. Gaining a larger understanding of how an issue relates to society allows social entrepreneurs to develop innovative solutions and mobilize available resources to affect the greater global society. Unlike traditional corporate businesses, social entrepreneurship ventures focus on maximizing gains in social satisfaction, rather than maximizing profit gains. Both private and public agencies worldwide have had billion-dollar initiatives to empower deprived communities and individuals. Such support from organizations in society, such as government-aid agencies or private firms, may catalyze innovative ideas to reach

10224-467: The business or enterprise of an issuer; However, not every promoter is a co-founder. In fact, there is no formal, legal definition of what makes somebody a co-founder. The right to call oneself a co-founder can be established through an agreement with one's fellow co-founders or with permission of the board of directors, investors, or shareholders of a startup company. When there is no definitive agreement (like shareholders' agreement ), disputes about who

10368-537: The business they help to build. In order to create forward momentum, founders must ensure that they provide opportunities for their team members to grow and evolve within the company. The language of securities regulation in the United States considers co-founders to be promoters under Regulation D . The U.S. Securities and Exchange Commission definition of promoter includes: (i) Any person who, acting alone or in conjunction with one or more other persons, directly or indirectly takes initiative in founding and organizing

10512-561: The casual dress and playful office environment fool you. New enterprises operate under do-or-die conditions. If you do not roll out a useable product or service in a timely fashion, the company will fail. Bye-bye paycheck, hello eviction. Entrepreneurs often feel stressed. They have internal and external pressures. Internally, they need to meet deadlines to develop the prototypes and get the product or service ready for market. Externally they are expected to meet milestones of investors and other stakeholders to ensure continued resources from them on

10656-561: The challenges do not stop with balancing both the social and business aspects of the business. The lack of investors, who invest in social and environmental positive impact, leads to the second problem in social entrepreneurship: the pay gap. Elkington and Hartigan note that "the salary gap between commercial and social enterprises… remains the elephant in the room, curtailing the capacity of [social enterprises] to achieve long-term success and viability." Social entrepreneurs and their employees are more often receiving lower salaries, especially at

10800-521: The co-founders are, can arise. Self-efficacy refers to the confidence an individual has to create a new business or startup. It has a strong relation with startup actions. Entrepreneurs' sense of self-efficacy can play a major role in how they approach goals, tasks, and challenges. Entrepreneurs with high self-efficacy—that is, those who believe they can perform well—are more likely to view difficult tasks as something to be mastered rather than something to be avoided. Startups are pressure cookers. Don't let

10944-482: The community. Social service industry professionals such as social workers and public health nurses work in social services , either for a government or a non-profit organization. They aim to expand social capital for individuals, communities, and organizations. Socio-economic enterprises include corporations that balance earning profits with nonprofit goals, such as seeking social change for communities. Some social entrepreneurship organizations are not enterprises in

11088-436: The company's backbone. For example, one of the initial design principles is affordable loss. Because of the lack of information, high uncertainty, and the need to make decisions quickly, founders usually use many heuristics and exhibit biases in their leadership decisions. Entrepreneurs often become overconfident about their startups and their influence on an outcome (case of the illusion of control ). Below are some of

11232-499: The company's namesake and founder, Nobel laureate and co-inventor of the transistor William Shockley ... (His employees) formed Fairchild Semiconductor immediately following their departure... After several years, Fairchild gained its footing, becoming a formidable presence in this sector. Its founders began leaving to start companies based on their own latest ideas and were followed on this path by their own former leading employees... The process gained momentum and what had once begun in

11376-576: The company. This has been described as corporate social entrepreneurship . One private foundation has staked the ground of more precise lexicon following the Newman's Own model having coined the phrase "Commercial Philanthropy" where commercial businesses are held and operated with all net proceeds going to serve social service needs. Organizations such as the Skoll Foundation , the Omidyar Network ,

11520-402: The courses and encourage them to make them into real startups should they wish to do so. Such mock-up startups, however, may not be enough to accurately simulate real-world startup practice if the challenges typically faced by startups (e.g. lack of funding to keep operating) are not present in the course setting. To date, much of the entrepreneurship training is yet to be personalized to match

11664-458: The courts of law and cleared by independent religious scholars. In 1999, Khan was visiting his family in the United States when he suffered from kidney failure . He died of myocardial infarction on 9 October in Indianapolis at the age of 85. His body was flown to Karachi on 15 October, where he was buried on the grounds of the OPP office compound. Khan's ideology and leadership skills were

11808-404: The development of training programs and leadership development programs for social entrepreneurs. Simultaneously, research shows that as social entrepreneurs attempt to widen their impact and scale their efforts, external institutions will have a key role to play in their success. Startup company Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve

11952-441: The ecosystem of social enterprises has been increasingly supported as researchers emphasize on the importance of contextual factors supporting and constraining social ventures . Researchers note that there is a need to understand the ecosystems of social enterprises, as they often operate in a context which is highly localized, interacting with small, local actors, but may also be intimately connected to other systems operating at

12096-427: The effectiveness of their business model, marketing, and strategy. Some accelerator organizations help social entrepreneur leaders to scale up their organization, either by taking it from a local scale to a national scale or from a national scale to a global scale. Some entrepreneurship support organizations also provide mentoring and coaching to social entrepreneurs. One well-known social entrepreneur from South Asia

12240-628: The field. First, social entrepreneurs are trying to predict, address and creatively respond to future problems and often face difficulties in identifying the right problems to solve. Unlike most business entrepreneurs, who address current market deficiencies, social entrepreneurs tackle hypothetical, unseen or often less-researched issues, such as overpopulation, unsustainable energy sources, food shortages. Founding successful social businesses on merely potential solutions can be nearly impossible as investors are much less willing to support risky ventures. If entrepreneurs are able to receive funding from investors,

12384-582: The first nursing school and developer of modern nursing practices; Robert Owen , founder of the cooperative movement; and Vinoba Bhave , founder of India's Land Gift Movement . During the nineteenth and twentieth centuries some of the most successful social entrepreneurs straddled the civic, governmental and business worlds. These pioneers promoted new ideas that were taken up by mainstream public services in welfare, schools and health care. The ecosystem framework can be very useful for social entrepreneurs in formulating their strategy. The need for understanding

12528-487: The first entrepreneur. One reason that these entrepreneurs are unreasonable is that they are unqualified for the task they take on. Most entrepreneurs have not studied the skills needed to implement their ideas. Instead, they bring a team of qualified people around themselves. It is the idea that draws this team. Ethical fiber is important because leaders who are about to change the world must be trustworthy. Drayton described this to his employees by suggesting that they picture

12672-446: The formation and maintenance of networks of like-minded people and help to link up potential investors, donors or volunteers with the organization. This enables social entrepreneurs to achieve their goals with little or no start-up capital and little or no " brick and mortar " facilities (e.g., rented office space). For example, the rise of open-source appropriate technology as a sustainable development paradigm enables people all over

12816-452: The founders themselves using "bootstrapping", in which loans or monetary gifts from friends and family are combined with savings and credit card debt to finance the venture. Factoring is another option, though it is not unique to startups. Other funding opportunities include various forms of crowdfunding , for example equity crowdfunding, in which the startup seeks funding from a large number of individuals, typically by pitching their idea on

12960-419: The government, Harvard advisors, MSU, and Ford Foundation was missing. OPP possessed no authority, no sanctions. It may observe and investigate but it could only advise, not enforce. The successful OPP model became an inspiration for other municipalities around the country. In 1999, Khan helped to create Lodhran Pilot Project (LPP) to collaborate with Lodhran municipal committee. Learning from past experiences,

13104-585: The idea, and ethical fiber. Creativity has two parts: goal-setting and problem-solving . Social entrepreneurs are creative enough to have a vision of what they want to happen and how to make that vision happen. In their book The Power of Unreasonable People, John Elkington and Pamela Hartigan identify why social entrepreneurs are, as they put it, unreasonable. They argue that these men and women seek profit in social output where others would not expect profit. They also ignore evidence suggesting that their enterprises will fail and attempt to measure results which no one

13248-515: The immediate and the broader environment (economic, social, political, etc.) the organization is influenced by and reside in". The model helps identify all the actors in the complex ecosystem, the capital infrastructure and the context-setting factors. Groups focused on social entrepreneurship may be divided into several categories: community-based enterprises, socially responsible enterprises, social services industry professionals, and socio-economic enterprises. Community-based enterprises are based on

13392-620: The impact of these ventures across the globe. Policymakers around the globe may need to learn more about social initiatives, to increase the sustainability , effectiveness, and efficiency of these projects. Involvement and collaboration between private corporations and government agencies allows for increased support for carrying out social entrepreneurship initiatives, increased accountability on both ends, and increased connections with communities, individuals, or agencies in need. For example, private organizations or nonprofit organizations have tackled unemployment issues in communities. One challenge

13536-406: The ineffective internal and external controls, stagnation, and diversion of funds. This prompted the subsequent scholars and practitioners in microfinance, such as Muhammad Yunus of Grameen Bank and Fazle Hasan Abed of BRAC , to abandon the cooperative approach in favour of more centralised control and service delivery structures. The new strategy targeted the poorest villagers, while excluding

13680-403: The larger society as a whole (versus a small community or a group of people). Compromises in social initiatives were developed, which often did not reach large audiences or help larger communities. Since the concept of social entrepreneurship has been popularized in the 2000s, some advocates suggest that there needs to be some standardization of the process in scaling up social endeavors to increase

13824-519: The last decade, Europe has developed a rapid start-up scene that has given birth to global players, including more than 70 unicorns, and has created more than two million jobs. Investment in European start-ups increased sixfold between 2010 and 2020, reaching approximately €40 billion. Europe does a poorer job of nurturing young companies because of a failure to support their development into industry leaders. Promising European start-ups then struggle to raise

13968-462: The literature in 1953 by H. Bowen in his book Social Responsibilities of the Businessman . The terms came into widespread use in the 1980s and 1990s, promoted by Bill Drayton , Charles Leadbeater, and others. From the 1950s to the 1990s, the politician Michael Young was a leading promoter of social entrepreneurship and in the 1980s, he was described by Professor Daniel Bell at Harvard University as

14112-451: The long run. Venture capital is the money of invention that is invested into young businesses which hold no historic background. Usually, the business of venture capital is highly risky but one can at the same time expect high returns as well. In the United States, the solicitation of funds became easier for startups as result of the JOBS Act . Prior to the advent of equity crowdfunding ,

14256-539: The long term is especially challenging because of the high failure rates and uncertain outcomes. Some startup founders have a more casual or offbeat attitude in their dress, office space and marketing , as compared to executives in established corporations. For example, startup founders in the 2010s wore hoodies , sneakers and other casual clothes to business meetings. Their offices may have recreational facilities in them, such as pool tables, ping pong tables, football tables and pinball machines , which are used to create

14400-434: The market situation. In their 2013 study, Kask and Linton develop two ideal profiles, or also known as configurations or archetypes, for startups that are commercializing inventions. The inheritor profile calls for a management style that is not too entrepreneurial (more conservative) and the startup should have an incremental invention (building on a previous standard). This profile is set out to be more successful (in finding

14544-447: The most critical decision biases of entrepreneurs to start up a new business. Startups use several action principles to generate evidence as quickly as possible to reduce the downside effect of decision biases such as an escalation of commitment, overconfidence, and the illusion of control. Many entrepreneurs seek feedback from mentors in creating their startups. Mentors guide founders and impart entrepreneurial skills and may increase

14688-520: The motives and goals of social enterprises and of those in policy-making and programs are not aligned. Those in policy-making and the development of delivery of government programs tend to have different priorities than social entrepreneurs, resulting in slow growth and expansion of social initiatives. Since social entrepreneurship has only started to gain momentum in the 2000s, current social entrepreneurs are encouraging social advocates and activists to develop into innovative social entrepreneurs. Increasing

14832-642: The national and local level. In The Power of Unreasonable People , John Elkington and Pamela Hartigan describe social entrepreneurs' business structures as falling under three different models, applicable in different situations and economic climates: There are also a broader range of hybrid profit models, where a conventional business invests some portion of its profits on socially, culturally or environmentally beneficial activities. The term " Philanthropreneurship " has been applied to this type of activity. Corporate employees can also engage in social entrepreneurship, which may or may not be officially sanctioned by

14976-413: The necessary capital to expand and mature. They are forced to either relocate to the US's deep capital markets or sell themselves to larger rivals with more financial availability. As a result, start-ups in the United States can typically raise far more money—up to five times as much as in Europe. Investors are generally most attracted to those new companies distinguished by their strong co-founding team,

15120-507: The next two years, Khan worked in Mamoola village near Aligarh as a labourer and locksmith , an experience that provided him with firsthand knowledge of the problems and issues of rural communities. In 1947, he took up a teaching position at the Jamia Millia, Delhi , where he worked for three years. In 1950, Khan migrated to Pakistan to teach at Islamia College, Karachi . In the same year, he

15264-471: The notions behind social entrepreneurship. No matter in which sector of society certain organizations are (i.e. corporations or unincorporated associations, societies, associations or cooperatives ), social entrepreneurship focuses on the social impact that an endeavor aims at. Whether social entrepreneurship is altruistic or not is less important than the effect it has on society. The terms social entrepreneur and social entrepreneurship were used first in

15408-499: The offer on the grounds that the proposals were predominantly motivated by political interests rather than the common well-being. However, he continued to advise the authorities on various aspects of rural development, such as participatory irrigation management. He worked as a research fellow at the University of Agriculture, Faisalabad from 1971 to 1972, and as Director of Rural Economics Research Project at Karachi University from 1972 to 1973. Khan went to Michigan State University as

15552-840: The ones participating. At this stage the level of risk and payoff are at their greatest. The next round is called Series A . At this point the company already has traction and may be making revenue. In Series A rounds venture capital firms will be participating alongside angels or super angel investors. The next rounds are Series B , C, and D. These three rounds are the ones leading towards the Initial Public Offering ( IPO ). Venture capital firms and private equity firms will be participating. Series B: Companies are generating consistent revenue but must scale to meet growing demand. Series C & D: Companies with strong financial performance looking to expand to new markets, develop new products, make an acquisition, and/or preparing for IPO. After

15696-430: The onset of their ventures. Thus, their enterprises at times can struggle to maintain qualified, committed employees. Though social entrepreneurs are tackling the world's most pressing issues, they must also confront skepticism and stinginess from the very society they seek to serve. Another reason social entrepreneurs are often unsuccessful is because they typically offer help for those least able to pay for it. Capitalism

15840-1024: The opposite of whatever decision they are about to make tends to reduce biases such as overconfidence, the hindsight bias , and anchoring. In startups, many decisions are made under uncertainty, and hence a key principle for startups is to be agile and flexible. Founders can embed options to design startups in flexible manners, so that the startups can change easily in future. Uncertainty can vary within-person (I feel more uncertain this year than last year) and between-person (he feels more uncertain than she does). A study found that when entrepreneurs feel more uncertain, they identify more opportunities (within-person difference), but entrepreneurs who perceive more uncertainties than others do not identify more opportunities than others do (no between-person difference). Startups may form partnerships with other firms to enable their business model to operate. To become attractive to other businesses, startups need to align their internal features, such as management style and products with

15984-542: The organization but not as an end in themselves. For example, an organization that aims to provide housing and employment to the homeless may operate a restaurant , both to raise money and to provide employment for the homeless. In 2010, social entrepreneurship was facilitated by the use of the Internet , particularly social networking and social media websites. These websites enable social entrepreneurs to reach numerous people who are not geographically close yet who share

16128-761: The participants and the training. The size and maturity of the startup ecosystem is where a startup is launched and where it grows to have an effect on the volume and success of the startups. The startup ecosystem consists of the individuals (entrepreneurs, venture capitalists, angel investors , mentors, advisors); institutions and organizations (top research universities and institutes, business schools and entrepreneurship programs and centres operated by universities and colleges, non-profit entrepreneurship support organizations, government entrepreneurship programs and services, Chambers of commerce ) business incubators and business accelerators and top-performing entrepreneurial firms and startups. A region with all of these elements

16272-517: The poetry of Maulana Hali and Muhammad Iqbal , the sermons of Abul Kalam Azad , and the Sufist philosophy of Rumi . This upbringing influenced his interest in historical as well as contemporary social, economic, and political affairs. Khan attended Government High School at Jalam ( Uttar Pradesh ), and completed his education in 1930 at Agra College where he studied English literature and history. He read English literature, history, and philosophy for

16416-594: The principles of customer development and Lean Startup to technology-based startup projects. As startups are typically thought to operate under a notable lack of resources, have little or no operating history, and to consist of individuals with little practical experience, it is possible to simulate startups in a classroom setting with reasonable accuracy. In fact, it is not uncommon for students to actually participate in real startups during and after their studies. Similarly, university courses teaching software startup themes often have students found mock-up startups during

16560-403: The process. Hasche and Linton argue that startups can learn from their relationships with other firms, and even if the relationship ends, the startup will have gained valuable knowledge about how it should move on going forward. When a relationship is failing for a startup it needs to make changes. Three types of changes can be identified according to Hasche and Linton: Startups need to learn at

16704-462: The project extended its scope to the whole town instead of concentrating on low-income settlements only. The municipal partnership was itself a new initiative that ensured wider civic co-operation. The success of OPP did come at a cost for Dr Khan as his liberal views and self-help initiatives were questioned and criticised by certain interest groups. At two occasions, he was accused of blasphemy. However, all allegations against him were acquitted by

16848-538: The publication of "The Rise of the Social Entrepreneur" by Charles Leadbeater . Many activities related to community development and higher social purpose fall within the modern definition of social entrepreneurship. Despite the established definition nowadays, social entrepreneurship remains a difficult concept to define, since it may be manifested in multiple forms. A broad definition of the concept allows interdisciplinary research efforts to understand and challenge

16992-442: The purpose of a creation. Social entrepreneurs seek to transform societies at large, rather than transforming their profit margin , as classic entrepreneurs typically seek to do. Social entrepreneurs use a variety of resources to bring societies into a better state of well-being. The concept of "social entrepreneurship" is not a novel idea, but in the 2000s, it has become more popular among society and academic research, notably after

17136-669: The reason for failure; the lack of consumer interest in the product or service (42% of failures), funding or cash problems (29%), personnel or staffing problems (23%), competition from rival companies (19%) and problems with pricing of the product or service (18%). In cases of funding problems, it can leave employees without paychecks. Sometimes, these companies are purchased by other companies if they are deemed to be viable, but oftentimes, they leave employees with very little recourse to recoup lost income for worked time. More than one-third of founders believe that running out of money led to failure. Second to that, founders attribute their failure to

17280-520: The same goals and encourage them to collaborate online, learn about the issues, disseminate information about the group's events and activities, and raise funds through crowdfunding . In recent years, researchers have been calling for a better understanding of the ecosystem in which social entrepreneurship exists and social ventures operate. This will help them formulate better strategy and help achieve their double bottom line objective. The concept and terminology of social entrepreneurship emerged in

17424-561: The same sector with more or less the same activities, have an increased chance of becoming a better entrepreneur. However, some studies indicate that restarters are more heavily discouraged in Europe than in the US. Many institutions and universities provide training on startups. In the context of universities, some of the courses are entrepreneurship courses that also deal with the topic of startups, while other courses are specifically dedicated to startups. Startup courses are found both in traditional economic or business disciplines as well as

17568-479: The scope and scale of social entrepreneurship may increase the likelihood of an efficient, sustainable, and effective initiative; although it may also render social entrepreneurship more challenging. Increased participation draws more attention to social entrepreneurship ventures from policymakers and privately owned corporations. The increased involvement of corporations and governments may help to strengthen social entrepreneurship, as it may lead to policy changes and to

17712-493: The sense that the startup has the potential to grow rapidly with a limited investment of capital, labor or land. Timing has often been the single most important factor for biggest startup successes, while at the same time it's identified to be one of the hardest things to master by many serial entrepreneurs and investors. Startups have several options for funding. Revenue-based financing lenders can help startup companies by providing non-dilutive growth capital in exchange for

17856-428: The side of information technology disciplines. As startups are often focused on software, they are also occasionally taught while focusing on software development alongside the business aspects of a startup. Founders go through a lot to set up a startup. A startup requires patience and resilience, and training programs need to have both the business components and the psychological components. Entrepreneurship education

18000-400: The social ventures aimed at and involving an entire community. These enterprises build on the community's culture and capital (e.g., volunteer resources, financing, in-kind donations, etc.) to empower the enterprise and the community. Socially responsible enterprises focus on creating sustainable development through their inside organization acts that focus mostly on creating societal gains for

18144-464: The sphere of rural development . Khan launched the project in 1959 on his return from Michigan, and developed a methodology of implementation in the area of rural development on the principle of grassroots-level participation. Initially, the aim was to provide a development model of programmes and institutions that could be replicated across the country. Advisory support in this respect was provided by experts from Harvard and Michigan State Universities,

18288-402: The stage of growth of the company. Startup investing is generally divided into six stage, namely While some (would-be) entrepreneurs believe that they can't start a company without funding from VC, Angel, etc. that is not the case. In fact, many entrepreneurs have founded successful businesses for almost no capital, including the founders of MailChimp , Shopify , and ShutterStock . If

18432-409: The startups. Coping with stress is critical to entrepreneurs because of the stressful nature of starting up a new firm under uncertainty. Coping with stress unsuccessfully could lead to emotional exhaustion, and the founders may close or exit the startups. Sustaining effort is required as the startup process can take a long period of time, by one estimate, three years or longer. Sustaining effort over

18576-423: The status quo: they want healthy change. This changemaking process has been described as the creation of market disequilibria through the conversion of antagonistic assets into complementarities. Social impact measures whether the idea itself will be able to cause change after the original founder is gone. If an idea has intrinsic worth, once implemented it will cause change even without the charismatic leadership of

18720-466: The technology covered by the patents. Startup investing is the action of making an investment in an early-stage company. Beyond founders' own contributions, some startups raise additional investment at some or several stages of their growth. Not all startups trying to raise investments are successful in their fundraising. Venture Capital is a subdivision of Private Equity wherein external investors fund small-scale startups that have high growth potential in

18864-522: The technology to provide internet access, others using the internet to provide services. Most of this startup activity was located in the most well-known startup ecosystem - Silicon Valley , an area of northern California renowned for the high level of startup company activity: The spark that set off the explosive boom of "Silicon startups" in Stanford Industrial Park was a personal dispute in 1957 between employees of Shockley Semiconductor and

19008-434: The vision of implementing it. Drayton says that, "Entrepreneurs have in their heads the vision of how society will be different when their idea is at work, and they can't stop until that idea is not only at work in one place, but is at work across the whole society." This manifests through a clear idea of what they believe the future will look like and a drive to make this come true. Besides this, entrepreneurs are not happy with

19152-524: The workers and researchers in the startup to focus less on the work environment around them, and more on achieving the task at hand, giving them the potential to achieve something great for both themselves and their company. The failure rate of startup companies is very high. A 2014 article in Fortune estimated that 90% of startups ultimately fail. In a sample of 101 unsuccessful startups, companies reported that experiencing one or more of five common factors were

19296-446: The workplace are not necessary because some people are born with the motivation to work without incentives. Some startups do not use a strict command and control hierarchical structure, with executives, managers, supervisors and employees. Some startups offer employees incentives such as stock options , to increase their "buy in" from the start up (as these employees stand to gain if the company does well). This removal of stressors allows

19440-489: The world to collaborate on solving local problems, just as open source software development leverages collaboration from software experts from around the world. The COVID-19 pandemic and the need to physically distance has further increased the significance of technologies for social ventures. Many initiatives carried out with social entrepreneurs while innovative, have had problems becoming sustainable and effective initiatives that ultimately were able to branch out and reach

19584-653: Was a Pakistani development practitioner and social scientist . He promoted participatory rural development in Pakistan and other developing countries, and widely advocated community participation in development. His particular contribution was the establishment of a comprehensive project for rural development, the Comilla Model (1959). It earned him the Ramon Magsaysay Award from the Philippines and an honorary Doctorate of law from Michigan State University . In

19728-523: Was appointed as its founding director. Khan became vice-chairman of the board of Governors of PARD in 1964, and in the same year, was awarded an honorary Doctorate of law by Michigan State University. In 1969, he established collaborative links with Arthur Lewis . Following his move to Pakistan, Khan was asked to implement the Comilla Model in rural settlements of North-West Frontier Province (now Khyber Pakhtunkhwa ), Punjab , and Sindh . He declined

19872-547: Was fluent in at least seven languages and dialects. Apart from many scholarly books and articles, he also published a collection of poems and travelogues in Urdu . Khan was born on 15 July 1914 in Agra . He was among the four sons and three daughters of Khansaahib Ameer Ahmed Khan and Mehmoodah Begum. His father, a police inspector , was inspired by the reformist thinking of Syed Ahmed Khan . In his early age, Khan's mother introduced him to

20016-558: Was influenced by the philosophy of Nietzsche and Mashriqi , and joined the Khaksar Movement . This attachment was brief. He quit the movement and turned to Sufism . According to Khan, "I had a profound personal concern; I wanted to live a life free from fear and anxiety, a calm and serene life, without turmoil and conflict. ... when I followed the advice of the old Sufis and sages, and tried to curb my greed, my pride and aggression, fears, anxieties and conflicts diminished." For

20160-608: Was invited by the Government of Pakistan to take charge as Principal of Comilla Victoria College in East Pakistan , a position he held until 1958. During this time (1950–58) he also served as President of the East Pakistan Non-Government Teachers' Association. During his tenure as principal of Comilla Victoria College, Khan developed a special interest in grassroots actions. Between 1954 and 1955, he took

20304-720: Was jointly dedicated to Khan and Owens. Soon after Khan's death, on 10 April 2000, the Government of Pakistan renamed the National Centre for Rural Development the Akhter Hameed Khan National Centre for Rural Development and Municipal Administration. Later in 2005, the Council of Social Sciences, Pakistan, in collaboration with the National Rural Support Programme and other institutions, announced

20448-534: Was predominantly composed of day labourers , skilled workers , artisans , small shopkeepers, peddlers and low-income white collar workers . The project proved an impetus to the socio-economic development of the population of the area. As the project director, Khan proved to be a dynamic and innovative leader. The project initially focused on creating a system of underground sewers, using local materials and labour, and succeeded in laying hundreds of kilometres of drainage pipes along with auxiliary facilities. Within

20592-476: Was sent to read literature and history at Magdalene College, Cambridge , England. During the stay, he developed a friendship with Choudhary Rahmat Ali . Khan married Hameedah Begum (the eldest daughter of Allama Mashriqi ) in 1940. Together, they had three daughters (Mariam, Amina, and Rasheeda) and a son (Akbar). After Hameedah Begum's death in 1966, he married Shafiq Khan and had one daughter, Ayesha. During his ICS career, Khan worked as collector of revenue,

20736-435: Was the largest of the city's approximately 650 low-income squatter settlements (known as katchi abadi ). The locality was first developed in 1963 as a government township of 5 square kilometres (1,236 acres). The influx of migrants after the creation of Bangladesh swelled the settlement to about one million people crowded over an area of more than 32 square kilometres (7,907 acres). The working class multi-ethnic population

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