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The topic of this session is social entrepreneurship

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Have you heard about the social entrepreneurship in your life?

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The social entrepreneurship is kind of a specialized types of the entrepreneurship

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But in this session,

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we plan to learn about understanding social entrepreneurs

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and the business models of the social entrepreneur companies

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and how social entrepreneur companies measure the performance

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and why is the outside fund and scale them up

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so before we delve into the the main topic,

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I would like you guys to watch this video together

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because this video is a great explanation about

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what the social entrepreneurship is. let's watch it together

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What about the video? It's great

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Then do you have any idea what is the social entrepreneurship?

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let's go into the main topic today

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what is the social entrepreneurship?

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how to define the social entrepreneurship?

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social entrepreneurship can be defined as doing business for

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a kind of social problem. Doing business is a social problem

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so scholars define the social entrepreneurship like this

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Social entrepreneurship uses business principles for making social change,

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not for addressing a consumer problem

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what do you mean by that? Let's break that down

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what about the business principle? it means that

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the social entrepreneurs think and act like

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the business people, not like a social activist

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they think and act like a business person

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And what about the for making social change?

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It means that the social entrepreneur companies

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aim to solve the social issues

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Instead of aiming to maximize their profit

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What about social issues? Social issues is things like the poverty

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What about the poverty? Poverty, dirty water,

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and the climate changes, and what about the educational inequality,

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and the crime, discrimination, etc. etc

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Or a job, jobless, homeless

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So their goal is not just money, but for the impact on the society

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and what about addressing, not for addressing a consumer problem?

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this is a kind of key distinction between social companies,

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social entrepreneur company, and just a traditional commercial company.

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traditional entrepreneurs try to solve the consumer's problem

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For example, how can I make ride-sharing more convenient?

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Or how can I deliver the groceries much faster?

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this is a kind of consumer's problem,

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but social entrepreneurs ask themselves,

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how can I help marginalized students learn better?

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or how can I create some kind of jobs, or relevant jobs, or

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qualified jobs? it's decent jobs, decent jobs in

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underserved communities, or for the disabled person,

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So now you understand what is the social entrepreneurship

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Again, the social entrepreneurship is

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doing the business for the social problem

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Look at this table

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Well, on the left side, there is a kind of not-for-profit organizations

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On the other hand, on the right side, there's a for-profit organizations

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Among the not-for-profit organizations,

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there are kind of pure charity organizations

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On the other hand, among the for-profit organizations,

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there is a pure businesses

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pure charity organizations are the mission-oriented,

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and they rely solely on the donations

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the best example of the pure charity types of organizations would be

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Heart and Stroke Foundation, or

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Canadian Cancer Society

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They didn't make money, but they received the donation

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on the other hand, the pure business organizations, and

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they are the business-oriented, and also they make money,

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then they achieve the sustainability by making money

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the best example of the pure businesses are a lot

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for example, Microsoft, and Apple, and Samsung Electronics, and

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Google, and there are tons of the businesses

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And so far, we focused on these types of organizations,

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as an entrepreneur. But think about

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inside the not-for-profit organizations, there are

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very different types of not-for-profit organizations

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the not-for-profit organization with earned income,

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these types of organizations try to make money,

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although they are not-for-profit organizations

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in order to achieve the self-sufficiency. the best example of

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these types of organizations would be Goodwill,

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and Charity Water, and the Housing Works Ashoka Foundation

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We are going to talk about later

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And what about the other types of

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organizations located in the for-profit area?

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there is a very unique for-profit

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organization with mission-oriented

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They just pursue the mission first, and then the business second

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This is very, very weird. And they made money

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so they achieved the sustainability,

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but their approach is a little bit different.

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The best example of these types of organizations would be

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the Gramin Bank, and Toms Shoes or Revolution Food

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Those are all for-profit organizations,

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but they pursue social mission first

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and this area, this, middle area,

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we say it is the social enterprises

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the social enterprises' goal is to make money, is to make money

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While solving social problems at the same time

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in other words, they want to create sustainability without sacrificing impact

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In order to do so, they don't rely solely on donations,

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but they also don't put the priority on making profit overall

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So, these types of businesses are kind of increasingly popular these days

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And anyway, the social enterprises

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the located social enterprises is located

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somewhere between the pure charity and the pure businesses

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it's not about helping the people

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it's not about making money

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it's about market-based approach to solve the social problem

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now we understand, what is the social enterprises as an organization

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Let's move on

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so let's talk about the key characteristics of the social

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entrepreneurship and social enterprises

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social enterprises pursue the social mission first

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So social mission is kind of core of the businesses

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The primary goal is not profit

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but a positive impact on the society

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And second one their approach is not, it's not charity types approach

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Their approach is a kind of business types approach

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Entrepreneurial approach, which means that

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social entrepreneurs apply the business principle,

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innovative technology, or resourcefulness, to resolve the social problem

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And another one is they try to achieve the sustainability

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Unlike charity, social enterprises or social entrepreneurs

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often generate their own revenues

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and these are all the unique characteristics of the social entrepreneurship

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Think about, what about social issues?

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Yeah, we have a lot of social issues that we face right now

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What about it?

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what about the poverty? poverty is one of the big social issues,

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According to the data, over three billion people live on less

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than 2.5, dollars per day

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think about it. They just live their life

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with the 2.5, less than 2.5 dollars

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2.5 dollars is less than one of the cup of coffee prices

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what about it? more than 1.3 billion live in

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extreme poverty, less than 1.25 dollars a day

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So, anyway, this is not just economic statistics

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It is the extreme poverty means

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no access to the education

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no access to the basic health care,

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and kind of no access to the job opportunity

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it is really big issues, Really big,

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So, one of the social enterprises

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try to resolve these poverty issues. So, this company is Kiva,

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Kiva provides some kind of a mobile

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the platform to connect the people

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through the lending the money to the people who suffer from poverty,

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Let's watch the video and then you understand what Kiva

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is and how they work. Let's watch it together

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so the Kiva founders were inspired by

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the Muhammad Yunus. You watched the video

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In the video Muhammad Yunus is a founder of the Grameen Bank

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Anyways, they were inspired by Muhammad Yunus and applied the

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technology to help underserved people

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Kiva is the world's first online lending platform

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So, for as little as $25, you can lend to

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kind of entrepreneurs around the world

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These entrepreneurs are kind of very small entrepreneurs

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So, anyways, Kiva provides some kind of working capital

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for those entrepreneurs to increase their businesses

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So, this not only helps them scale their businesses

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but also helps them attract larger

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or institutional follow-on funding as well,

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So, that's why Kiva is very

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innovative to solve this kind of poverty problems

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Let's move on to another social issue

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But what about the water issues?

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Over 1 billion people do not have access to clean water,

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And one in five children are without access to the safe drinking water

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And over 440 million school days

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were missed by the children due to the water illness,

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So, why this matters? So, we live in the society

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where clean drinking water available, but think about in Africa,

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And not many people access the clean water,

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So, there's some problem, as you can see

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And why cleaning water matters?

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Water is the kind of basic human need

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But many people cannot access the water

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It is a kind of daily struggle,

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Without clean water, the children cannot stay healthy

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And without clean water, the children often miss schools

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because they spend tons of hours to collecting water

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And without safe water,

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entire communities are locked in poverty and disease,

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So, let's look at the social companies or social

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enterprises to resolve these water issues

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this organization is a non-profit organization,

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But not pure charity. This non-profit organization tries to

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solve the dirty water problem in Africa

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let's watch the video together and you realize,

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you can realize, who they are and what they work

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Let's watch together

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So did you watch the video clip?

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And what about it?

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Did you have any special impression from his explanation?

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this charity Water, again, is a non-profit organization

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founded by Scott Harrison

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Well, at that time, Scott Harrison was kind of a music club coordinator

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And then he traveled to Uganda in Africa

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and over there, he decided to

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start this type of organization to resolve,

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dirty water problem in Africa

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So, he wanted to provide some safe drinking water

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to the people in developing countries

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So, according to this organization,

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by October 2024, it has funded

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more than 170,000 projects in 29 countries

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This organization has raised more than 400 million dollars so far

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Wow, huge success. What do you think?

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so my question is why this organization was successful?

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Although there are tons of similar organizations,

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that try to solve the same problem

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but this organization is successful. In other words,

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what makes this organization different from others

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What do you think? Think about it

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What is the key to success of this organization?

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Yes, in my opinion

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they were very good at marketing. Marketing

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Do you remember the definition of the social entrepreneurship?

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social enterprises apply the business principle

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into the social issues

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 what they used as a business principle was marketing

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They are really good at marketing

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They are really good at persuading people

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to get involved into their project

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Let me tell you my personal experience

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Many years ago in Korea, I was walking down the street

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and someone approached me and asked me to

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do a survey

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They said that they need some opinion to help young people

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young children in Africa. So, I did a survey

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Why not? And they kept asking,

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don't you feel sorry for the children in Africa?

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Do you want to sponsor them regularly?

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Are you willing to put your money regularly to help them?

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What do you mean by that?

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Then I realized that their real purpose is not to take my opinion

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but they forced me to sponsor the children in Africa regularly

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without my preference and without my willingness

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Although I want to help them,

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I don't want to participate in these types of activities,

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So, what if I don't sponsor them at that time?

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Then, probably, they will criticize me

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I feel really bad about it

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If you compare my experience to,

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Scott Harrison's, Cheryl Waters' marketing,

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then you realize that how sophisticated,

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Cheryl Waters is in its marketing, the advertisement

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So we should learn how they persuade other people

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Let's move on to another social issues

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Well, this is a kind of health care issues

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One in seven children have no access to health care service

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22,000 children die every day

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from largely preventable disease or illness in the developing worlds

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in the developing countries

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And during our class today over 1,000 children under age five

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will die from preventable disease.

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This is the big social issues

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Not in your country, but in all of the world

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It's a big issue. And I want to introduce

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one of the social enterprises to resolve these types of issues

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this organization is Aravind Eye Hospital located in India,

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I would like you guys to watch this video,

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and then they prepared the short video clip that explains very well how they work

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Let's watch together

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how about the Aravind Eye Hospital?

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Isn't it amazing?

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So, the Aravind Eye Hospital is a hospital chain in India

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and the model of Aravind Eye Hospital has been

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applauded outside and has become a subject

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for the numerous the study cases across the world

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And think about it. There are two different types of patients,

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There are patients who pay the service,

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and the patients who are poor and not paying,

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The patient who pays is to help three other poor patients

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And the hospital also uses its own materials to

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lower the prices and uses an efficient system,

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like a McDonald's to lower the prices

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So, that's why they can provide kind of a

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free treatment to the patient in India

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what are the

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benefits for the doctors? think about it

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From the doctor's point of view

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treating a huge number of patients

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has the advantage of the kind of

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clinical experience than any hospital

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so there are kind of a win-win system

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another social issue is about food surplus

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About 30 percent of the food produced in the world

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every year gets lost or wasted

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Between 33 to 50 percent of all the food produced globally is never eaten,

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and the value of this wasted food is worth over one trillion dollars

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At the same time over 815 million people suffer from lack of food

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So there's a big difference between food surplus and lack of food

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What is happening? This is a kind of social problem

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So, one of the companies tried to solve

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this problem as a social enterprise

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Let's watch this video, and then you understand how it works

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the company in this video was Copia

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Copia helped the business redistribute high-quality food surplus

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to the people in need. Copia is the company

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that uses mobile technology to connect both sides

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and help you easily donate the food that is thrown away

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They thought the main reason food was thrown away

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was not because people don't want to help others,

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but because it was very difficult to donate it

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so they had kind of a different approach,

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to solve the problem

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This is a social, entrepreneurship.

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This is a social enterprise

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from now on, we are going to talk about the role

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of the social entrepreneurs

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The social entrepreneurs identify critical needs and

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redefine

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they try to redefine the problems

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Basically, they observe the root,

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behind the causes

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for the social problems

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And also, they bring the innovative solutions

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to resolve these social problems

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They try to create some kind of very unique model

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and product or services that solve the social problems

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in a sustainable way

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And they try to empower the individuals

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and communities to solve their own problems

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using some kind of local knowledge or tools

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I want to give you examples

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Well, look at these dirty water problems,

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And right now you will look at how social entrepreneurs

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identify the real problems inside,

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behind the apparent problems

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How to resolve the dirty water problems

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In response to this unsafe water,

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one of the Switzerland company, one of the Swiss company,

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developed some kind of very unique product called LifeStraw

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Have you heard this LifeStraw?

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It is a portable, it's a life-saving straw that

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filters out the 99% of the bacterias

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And it requires no electricity,

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no batteries, and extremely affordable because it's very cheap

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It is now used in schools and

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refugee camp and disaster zone worldwide

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What do you think?

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Their approach, social entrepreneurs approach is totally different

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because they try to,

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define the problem again and again

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and in a different way

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This is a kind of perfect example

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of kind of social entrepreneurship

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Let's look at another example

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Water is kind of far

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So, that's why the student

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kids in Africa should work for a long time, long way

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It takes a long time, so that's why they cannot attend the schools

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It causes additional problems

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It causes the injury, it causes the lack of the education

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Look at this, water far away and efficient water carrying

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So, one of the social entrepreneurs

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designed kind of a new ways of water carrying

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he created this unique types of drums

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These containers that can be rolled like a wheel

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So the children and elderly people

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can now roll this drum very easily,

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and then they can carry the large amount of the water

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It is very efficient

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So then they don't have to go several times

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They just carry this drum

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What do you think?

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Again, it is very simple, but powerful

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It is a kind of a different solution

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from social entrepreneurs

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Let's take another example

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This is a shelter suit foundation

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Look at him

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His name is De Bastema,

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a fashion design student in the Netherlands

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Then in 2014, something tragic event happened

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So more specifically, his homeless friend's father

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died of hypothermia

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Basically, he didn't have a way to stay warm,

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so that's why he died

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This event hit Bastema deeply,

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and Bastema realized that he was studying fashion,

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and he has a skill to make a stylish

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and kind of warm clothing,

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which is these types of kind of, I don't know,

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it's a camping-style coat, I don't know

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So he developed the shelter suit

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It is a kind of a sleeping bag coat

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There is a combination of the coat and sleeping bag

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Which is very interesting

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Anyway, the shelter suit is waterproof and windproof,

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and you can use this suit

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like a blanket

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It keep people warm, dry, and mobile

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Which is very interesting, though

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So the production cost is pretty cheap,

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just $164, making it highly affordable

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for the donation program

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What do you think?

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So he founded the shelter suit foundation

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together with his friends,

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and he tried to distribute this shelter suit

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across Europe and America and the others

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What do you think?

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You know, this is an amazing example

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of the mission-first initiative

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that used fashion and your skills

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and your entrepreneurship and your innovation

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for the social goods

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Let's take another example

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This is the last example in this session

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The name of this example was Big Issue

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Have we heard about the Big Issue?

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Yes, you did,

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The Big Issue, founded in 1991 in UK

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as a street magazine

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And two people founded the Big Issue

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One guy, the left side

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one guy is Gordon Roddy,

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and the right side, his name was John Bald

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John Bald was poor,

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and Gordon Roddy was rich

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Anyway, these two people started this business

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to help homeless people in UK

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So their approach is a little bit different

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from the other charity-based organization

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Well, instead of giving money to them directly,

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they want to provide some job opportunity for them

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00:30:12.643 --> 00:30:15.923
to be self-sufficient and self-reliance

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00:30:15.923 --> 00:30:19.003
So more specifically, the vendors

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Vendors should be homeless

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00:30:20.804 --> 00:30:22.923
Homeless people can be qualified

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00:30:22.923 --> 00:30:25.444
as a vendor of this street magazine

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00:30:25.444 --> 00:30:28.283
Then they purchase, they can purchase magazine,

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00:30:28.283 --> 00:30:29.964
a street magazine, at a discount

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00:30:29.964 --> 00:30:31.983
The price is from the Big Issue

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Then they sell this magazine on street

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00:30:35.024 --> 00:30:36.383
Then they can make money

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because there is a price difference

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Price difference

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00:30:40.304 --> 00:30:45.064
Anyway, then later on, they do again and again this process

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Then they accumulate the money

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This is a kind of a job opportunity

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00:30:49.223 --> 00:30:52.924
to help and to resolve the homeless problems

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What do you think?

447
00:30:55.614 --> 00:30:58.064
Again remember, the social entrepreneurship

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00:30:58.064 --> 00:31:01.623
is about it's about solving social problem

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00:31:01.923 --> 00:31:04.124
Through the business principle

450
00:31:04.124 --> 00:31:07.004
It could be technology, it could be marketing,

451
00:31:07.004 --> 00:31:09.454
it could be business model

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00:31:10.004 --> 00:31:14.163
Anything related to the business principle,

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00:31:14.163 --> 00:31:16.603
then you can apply those business principle

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to resolve the social problem

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Then you can be social entrepreneur