What is Social Enterprise?
A social enterprise (SE) is a business which achieves a social goal or tackles social issues through a self-sustaining business model. In general, the profit generated by a social enterprise will be re-invested in the business in order to create greater values for the society. There is a wide variety of social enterprises, ranging from work integration, alleviating structural unemployment by creating jobs for the minority, to using technology to solve social problems. More information about starting a social enterprise in Hong Kong can be found here.
Hong Kong Social Enterprise Challenge (HKSEC)
Since 2007, the Hong Kong Social Enterprise Challenge (HKSEC), a social venture startup competition organized by the Center for Entrepreneurship of The Chinese University of Hong Kong, has been at the frontier in educating students and the general public about social enterprises in Hong Kong. Through a structured competition model, HKSEC encourages students to employ a creative entrepreneurial approach to solve real world social issues.
HKSEC is the foremost inter-collegiate social venture startup competition in Hong Kong. More than 8,200 students from 104 institutions have had the opportunities to showcase their creative ideas and desire of being a change agent in our society by joining this competition. They have generated over 1,400 business ideas for social enterprise.
Our mission is to generate innovative and practical social enterprise ideas through engagement of multi-disciplinary and multi-institutional teams and to encourage young people to implement their ideas. By providing a series of motivation activities, seminars and training workshops, HKSEC has been strengthening the participants to understand social issues from a social entrepreneurial perspective to solve the real world issues, and to demonstrate social responsibility. To develop business plans for a social enterprise with financial sustainability, the participants have to be creative and their ideas will be sharpened in different competition stages by the professional advice and comments from the mentors and judges.
HKSEC has been evolving into a hub connecting social entrepreneurial education, training and implementation for young, passionate students and alumni in Hong Kong. The framework of HKSEC includes three elements of developing social entrepreneurship through (1) Education, (2) Competition, (3) Incubation. Each element is connected and accompanied with relevant activities to accomplish the mission of creating more social ventures in Hong Kong. You may find more details about the competition here.