Philanthrocapitalism – social change through business
A new kind of charity is shaking up the business world and revamping the concept of ‘giving back’ – because this kind of charity is in fact not charity at all.
The new ‘philanthrocapitalists’ – also known as venture philanthropists, new donors, high-engagement philanthropists or social venture capitalists – don’t talk about ‘funding applications’ or about ‘giving back to society’ but about ‘business plans’ and ‘social investments’, because that is how they view their contribution. Sometimes they even start their own foundation or an organization to make sure that social issues and development challenges are resolved in what they believe is the best possible way.
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