Innovation and social entrepreneurship: What we need now

It can help make the world a better place

By Adam Connatser

Turn your memory banks back to early 2020. At that time, do you recall knowing the name Moderna? If you’d asked me, I would have thought you misspelled the name of an Italian city. Skip ahead to the end of 2020, and Moderna is a household name. Why? Because of its innovation and entrepreneurship – I’d even say social entrepreneurship. It discovered and developed a novel vaccine against Covid-19 that likely saved millions of lives around the world.

The pandemic is but one example of the very challenging times we live in. Our politics are extremely partisan, and our society is becoming increasingly divided over culture issues. Racial unrest continues two years after George Floyd was killed. Russia’s invasion of Ukraine is killing thousands and upending global grain and energy trade. And the economy has the jitters, with high inflation, a volatile stock market, and the threat of recession.

What are we to do? Act like Moderna and … Innovate!

As is often the case in hard times, entrepreneurship and innovation – whether solely for business purposes or also for social impact – can carve out paths to better times. Necessity truly is the mother of invention.

That’s what Mohammed Yunus did when he had seen enough of the abject poverty in his native India.  He discovered that hyper-small loans made to families (mainly women) by other members of the same village had an incredibly high repayment rate, and helped the borrowers buy farm animals and take other steps to lift themselves out of poverty. And thus was born what we now know as microfinance.

So where is the next life-saving innovation coming from? Or the tweak on a technology that gives it new uses for new audiences? Or a fresh way of looking at an old problem that unlocks untapped potential? It comes from the imaginations and hard work of innovative people like you and me.

Wright Connatser is honored to help our clients – entrepreneurs, innovators, and world-changers – do what they do. We invite you to join us in harnessing the power of entrepreneurship to make our world a better place.

“Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.” 

  • Margaret Meade

 

Editor’s note: Adam Connatser is co-founding partner of Wright Connatser Law. He can be reached at Adam@wrightconnatser.com.