In the United States, a new form of incorporation – The Social Benefit Corporation is gaining ground.
Delaware Gov. signs landmark social entrepreneurship law
Social entrepreneurship made a huge step forward this month, as Delaware Governor Jack Markell signed legislation creating a new corporate form, the public benefit corporation, that enables companies to “do well while doing good.” Although 18 other states have already enacted similar legislation, Delaware’s status as home to more than one million American companies, including 64 percent of the Fortune 500, bodes well for the accelerating benefit corporation movement. Read the rest of the article.
Related Link – http://benefitcorp.net/
Social Enterprises: Bubble building within the space, creating fissures in the sector
Last month, at the annual industry conclave of hedge funds in the US, Reuters reported that there was much talk about impact investing and philanthropy. This, coming from a $2.4 trillion industry category that epitomises greed and profiteering even if it claims ‘excesses of the past’ is past is a dire indicator of the frightening hype that pervades the space that social entrepreneurs now operate in. Read more
Social Tech Firm – Gram Vaani Raises Funds
Gram Vaani, a social tech company has raised $500,000 from undisclosed investors. The funds will be used to expand the team of the company. Iamwire stated the the funds have been invested by Indian Angel Network along-with few other investors. Read more