Aiming to uplift urban communities through businesses that believe in economic empowerment as well as social responsibility, Rutgers University is hosting the first New Jersey Social Entrepreneurship Summit on October 19, 2011 at the New Jersey Performing Arts Center in Newark.
The event, sponsored by PSE&G and Rutgers and Hosted by the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School (CUEED), is an opportunity for businesses and entrepreneurs to share ways to create what they call a “double bottom line,” which measures a business’s fiscal performance as well as its social contributions.
“For a lot of people this is a new concept,” says Dalmar James of Websignia, the company promoting the summit.
The summit aims to address this lack of knowledge that many urban entrepreneurs have regarding the social impact of their businesses, and to bolster those that do.
Through discussion and workshops, the summit aims to equip participants with the knowledge and the tools to build profitable social enterprises, provide an opportunity to network with potential investors and other entrepreneurs looking to build social ventures, and announce the founding of the New Jersey Social Innovation Institute, an initiative to support new social ventures in the state of New Jersey.
“There are organizations and vehicles that are focused on creating, financing and providing assistance to social entrepreneurs,” James said. “Any opportunity when minority companies can get a better foothold of doing business, get more for their dollar and save goes a long way.”