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15th SciFY Academy "Work Socially"

Wednesday, 23 November 2016 Published in Past Seminars
15th SciFY Academy "Work Socially"

15th SciFY Academy | Work Socially
"Social Impact: Make the first steps"

On Wednesday November 23, SciFY's team, co operated with INNOVATHENS Hub of Innovation & Entrepreneurship of The Municipality of Athens, one more seminar and workshop, about Social entrepreneurship. 

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As every time before, representatives of the academic, research and business sector, as well as students of various schools, and people who want to create or participate in a social enterprise, have come to INNOVATHENS to attend the 15th SciFY Academy on: "Social Impact: Make the first steps".

In one of the last SciFY Academies for 2016, the main speaker was Ms Matina Kanaki, a supporter of social entrepreneurship and one of the most active members in the field for the last 20 years, where she introduced us to the concepts of Social Entrepreneurship and its social impact. The seminar was divided into two parts, the presentation made by Ms Kanaki and the lab, where the participants had the chance to apply their knowledge, planning and implementing the steps of their concept of a social enterprise.

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The interest of the participants was great throughout the whole seminar with various questions in both parts of the seminar.

Initially, in the first part of the event, ms Kanaki presented the conditions, meaning and the values of social economy and enterpreneurship, pointing out that its difference from private business is the social mission, that it brings some values to bring a social change and a social impact. At the same time, it has a twofold goal, the solving of a social problem and the profit as well, since if the product remains an idea and is not bought, it won't be viable. On the other hand the target of a social enterprise should not be the filling of new positions but the delimitation of the appropriate business model.

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She then referred to good and meaningful examples of social enterprises in Greece and abroad, giving the participants the opportunity to elaborate and analyze the frameworks in which an idea can transform into a sustainable social enterprise.

The European Research Network EMES (EMES European Research Network specialized in social enterprise issues, economy and public participation, has dealt in many of it's publications with the ideal Social Enterprise, where among others it has multi-participation, democratic decision-making, profit-sharing control for achieving a greater social impact.

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The second and main part of the event was devoted to the workshop of the creation  of a hypothetical social corporation. The participants, divided into subgroups and under the guidance of Ms Kanaki and her associates, had the opportunity to design a social company and apply what they had learned. Following six key steps, they began to develop their own social initiative by solving through the discussion and the guidance of experienced mentors, questions related to the first steps of creating a social enterprise.

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Due to the limited time, Ms Kanaki focused more on the financial and management part of creating a company, as, according to her presentation, this is where the biggest difficulties of sustainability of Greek Social Entrepreneurship are identified.

In summary, the six basic steps of creating and operating a Social Company are:

  1. Short description: Of the idea or the service.
  2. Product Identification: features, competitors, peculiarities.
  3. Market definition: target, target group, market entry barriers, ways to resolve them.
  4. Marketing Plan: "4 Ps" (Product, Place, Price, Promotion) Placement of the Company in the Market (depending on the product) and price differentiation based on it. How to promote the product, how to advertise.
  5. Management & Organization: Description of its function, who are its people (Roles, Responsibilities), what facilities does it have and which are needed.
  6. Financial Forecast: What are the investments and the operating costs, what is the time needed to cover these costs, which is the Break Even Point?

Through the information portal on the actions of the Social Cooperative Enterprises for all Greece, interested parties can obtain important information on the topic

We sincerely thank Ms Matina Kanaki, her associates, INNOVATHENS and of course all who attended and participated actively in the workshop but also throughout the event, making very interesting comments and questions and mainly because they contributed once more to the realization of the vision for the free dissemination of knowledge!

To be informed about the next events of SciFY Academy you can register here

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