SOCIAL ENTREPRENUERSHIP IN INDIA– AN INNOVATIVE TOOL FOR CHANGING THE LIFE OF POOR

Abstract

Social entrepreneurship is the process of bringing about social change on a major and more effective scale than a traditional Non- Governmental Organisation (NGO). Encouraging the technology driven startups will again have ripple effects. The brain drain of engineers, that has plagued the country for decades, is already inverting with more and more multinational senior level employees coming back to India leaving their prized positions in the west to set up their own business enterprises here or to join the growing startups in India. So long as the ecosystem is conducive - Who would like to work away from their homeland when they can be a boss here? Beyond starting and growing a home-grown enterprise, another important purpose for people to return is to pay back to the society that made them who they are today. As a result, several of the new ventures have some associated social implications such as energy efficiency, power generation with alternate sources like husk, mobile banking for rural people and health related mobile apps, among others. Such initiatives, besides providing economic growth, give holistic growth to the economy. The entrepreneurs will generate employment while making the nation self -reliant in many ways. The essence of entrepreneurship lies in its problem solving approach. Such social entrepreneurs are recognizing the problems related to insufficient infrastructure for all e.g. in sectors like healthcare, rural finance, education, etc. There is need to create innovative solutions so that the primary facilities are available to all. To provide solutions in these areas several groundbreaking startups have emerged and created their niche in fintech, medtech and Edtech.