Social entrepreneurship: How you can do well and good at the same time

What if we told you that you don’t have to choose between profit and purpose? That doing good for society doesn’t mean sacrificing your bottom line? Welcome to the world of social entrepreneurship—where visionaries blend business savvy with deep compassion to build a better future.

Professor Waya Quiviger, Professor of Practice of Social Entrepreneurship at IE Business School, has spent years exploring the intersection of innovation and impact. Her insights remind us that social entrepreneurs are not only disruptors—they can be healers, bridge-builders and boundary-breakers. As she puts it, “You can do well and good at the same time.”

Let’s take a closer look at what that means—and why it matters more than ever.

What is social entrepreneurship, really?

At its core, social entrepreneurship is the art of using entrepreneurial strategies to solve social and environmental problems. These are people who don’t just chase profits—they chase progress. They build businesses that address real-world issues like poverty, education inequality, public health and climate change. And they do it sustainably.

Unlike traditional entrepreneurs, who measure success in market share and ROI, a social entrepreneur prioritizes social impact. That doesn’t mean they ignore revenue—they just put people and planet on equal footing with profit.

Social enterprise definition: The best of both worlds

A social enterprise, by definition, is a business that exists to achieve a social mission using commercial methods. Think of it as a company with a conscience. It might sell products or services like any other business, but instead of funneling profits to shareholders, it reinvests in its purpose—whether that’s reducing hunger, creating jobs for the marginalized, or saving the environment.

Social enterprises operate in that sweet spot between charity and profit. And in today’s world, that middle ground is where real magic happens.

Examples of social entrepreneurs to look up to

These aren’t just any feel-good stories—these are the real-life changemakers that Professor Quiviger loves to highlight in her classes. Their work perfectly captures what social entrepreneurship is all about: spotting a need, taking a risk and building something that makes the world better.

Back in 2005, Shaffi Mather’s mother nearly died after choking in her sleep. The ambulance never made it—the Mumbai traffic beat it. Don’t worry—thankfully, his family rushed her to the hospital in time. However, Shaffi couldn’t shake the thought: What if next time, someone else isn’t so lucky?

So he launched Dial 1298, India’s first 911-style ambulance service equipped with doctors and life-saving tools. The best part? Those who can pay, do. Those who can’t, still get treated. His company, now known as Ziqitza, is the country’s largest emergency provider. Shaffi didn’t just build a business—he built a lifeline.

Cristóbal Colón (no, not that one)

Yes, Cristóbal Colón shares a name with the man who “discovered” the New World, but this Colón didn’t set sail—he set up shop. A psychologist in Spain, Cristóbal worked with patients who had schizophrenia and other mental health conditions. He knew they could work, contribute, thrive. But the job market didn’t agree.

So he did something radical: in 1982, he launched La Fageda, a cooperative that began with yogurt production and expanded into ice cream, jams, gardening services and more. The majority of employees are people with disabilities, and the enterprise provides them with meaningful employment and a sense of purpose. No gimmicks. No pity marketing. Just high-quality products and a culture of inclusion. Today, La Fageda is a testament to how business can be a vehicle for social change.

In Brazil’s favelas, tech was a luxury, not a lifeline. But Rodrigo Baggio had a dream—literally—that changed everything. He imagined bridging the digital divide by teaching underserved youth to code, create and connect.

In 1995, he founded CDI (Center for Digital Inclusion) using recycled computers and community volunteers. As a result, more than 1.3 million students across 13 countries have graduated from CDI programs.

Muhammad Yunus: Banking on possibility

You might not expect a Nobel Peace Prize winner to start a bank, but Muhammad Yunus saw potential where others saw risk. Through Grameen Bank, he gave microloans to women in Bangladesh—helping them start businesses, support families and gain independence.

The model was simple: invest, earn, repay, reinvest. The impact? 9 million borrowers, 97% repayment rate, and dozens of countries now replicating his work. A small loan, it turns out, can have a major impact.

So, what is a social entrepreneur?

A social entrepreneur is a bold thinker with a builder’s mindset. They see societal problems and choose to fix them—not with pity, but with purpose. They’re not driven by charity. They’re driven by challenge. They don’t walk away when things get tough, but rather roll up their sleeves.

They create value, but they also create hope. And the world needs more of them.

Want to become a social entrepreneur? Start at IE Business School

Whether your dream is to launch your own social enterprise, scale a mission-driven startup or foster positive change, IE Business School is where that journey begins. With expert faculty like Professor Waya Quiviger, whose research and real-world insight is shaping the next generation of changemakers, you’ll gain the tools to turn vision into venture.

Because doing good isn’t the opposite of doing well—it’s the future of business.