Dear Reader,
We are pleased to launch the 25th edition of the Philadelphia Social Innovations Journal (PSIJ), Launching Social Innovations through Business and Social Enterprise Incubators, Labs & Foundation Competitions: Regional and National Models That Work. This edition, released in partnership with Goldman Sachs’ 10,000 Small Businesses, the Social Innovations Lab (SIL), Knight Foundation, Philadelphia University, the Philanthropy Network Greater Philadelphia, Federal Reserve Bank of Philadelphia, Inglis and the Public Health Fund, examines the concept of creating social enterprise businesses to help solve the most pressing societal and social challenges.
Complex health, social and environmental problems continue to impact human life both in the greater Philadelphia region and beyond. In response to these challenges, social enterprises and commercial innovation models are emerging to provide sustainable solutions capable of large-scale social impact. More and more, entrepreneurs are recognizing the value of creating social enterprises and their overall positive business impact. Policymakers, social investors, philanthropists and the public are looking for innovative solutions to complex problems that are cost effective, financially sustainable, adaptive and accountable to feedback and metrics, and have the potential for large-scale impact and systems change. The time to develop and launch social enterprises has never been more ripe than it is today.
In addition to exploring the endless possibilities for social enterprise to effect change, this edition examines the role of idea incubators, labs and foundations competitions and their potential to inspire innovation in Philadelphia and across the nation and globe. Despite the social sector employing some of the most passionate visionaries, traditionally, professionals working in the nonprofit and social sector do not come with the business, legal or policy backgrounds to bring social enterprise models to fruition. Since 2012, we have been pleased to offer the Philadelphia Social Innovations Lab (PSIL) as a proven model to provide social entrepreneurs with the business acumen necessary to hone their skills and build the confidence needed to launch social enterprises. This edition emphasizes how the PSIL and other incubator models fill the educational void, preparing the next generation of social entrepreneurs.
As always, we thank our sponsors whose support has and continues to allow us to advance innovation in our great city and beyond, including the Barra Foundation, Bank of America, Claneil Foundation, Green Tree Community Health Foundation, Independence Foundation, Inglis Foundation, Knight Foundation, The Patricia Kind Family Foundation, The Philadelphia Foundation, The Public Health Fund, Public Health Management Corporation, Sage Communications, Scattergood Foundation, St. Christopher’s Foundation for Children, NFP Lincoln Benefits Group, TD Bank, eXude, United Way of Greater Philadelphia and Southern New Jersey and the University of Pennsylvania.
Very truly yours,
Nicholas Torres, Co-Founder
Tine Hansen-Turton, Co-Founder