Study on Social Entrepreneurship Dynamics with special reference to Mumbai, Pune, and Nashik

Abstract

Social entrepreneurship has emerged as a transformative force in tackling societal issues while driving economic growth and environmental sustainability. This study delves into the realm of social entrepreneurship in urban India, specifically focusing on Mumbai, Pune, and Nashik. Employing a mixed-methods approach comprising qualitative interviews and quantitative surveys, the research investigates prevalent trends, challenges, and opportunities within the sector, particularly emphasizing youth involvement and innovative models. Through qualitative analysis, the study uncovers significant hurdles faced by social entrepreneurs in securing funding and navigating regulatory complexities. Despite these obstacles, there is a discernible interest in novel approaches like hybrid organizations and impact investing, signalling a shift towards more sustainable and scalable methods of effecting social change. Furthermore, the importance of engaging youth emerges as a pivotal aspect, with their values strongly aligning with the missions of social entrepreneurial ventures. Quantitative analysis substantiates the role of mentorship programs and networking platforms in fostering youth participation in social entrepreneurship. Drawing from these insights, the paper offers practical recommendations for policymakers, organizations, and stakeholders to bolster the growth and resilience of social entrepreneurship endeavors, particularly those involving young individuals. In essence, this research enriches our comprehension of social entrepreneurship dynamics in urban India and furnishes actionable insights to guide strategic decision-making and policy development. By addressing identified challenges, leveraging innovative models, and encouraging youth involvement, stakeholders can collaboratively maximize the impact of social entrepreneurship for driving positive societal change not only in Mumbai, Pune, and Nashik but also across broader contexts.