TOMS is Financially Investing in Start Ups with Social Business Models
Cadhla Gray — November 19, 2015 — Social Good
References: toms & brandchannel
TOMS shoes is starting yet another endeavor to make social business models the fact of the future. In addition to giving children in developing countries about 50 million pairs of shoes as well as improving eyesight, TOMS is now launching its Social Entrepreneurship Fund, providing financial support for socially responsible start-ups.
While founder Blake Mycoskie did want to provide struggling children with footwear, he wanted the TOMS legacy to actually be inspiring social business models as its greatest impact. Therefore, this fund is inspiring businesses like Artlifting, Cotopaxi and Change.org as they all fall under the category of purpose-driven companies.
The fund will hopefully inspire more businesses to build themselves around similar one-for-one models so that successful businesses can also mean successful development and quality of life for others.
While founder Blake Mycoskie did want to provide struggling children with footwear, he wanted the TOMS legacy to actually be inspiring social business models as its greatest impact. Therefore, this fund is inspiring businesses like Artlifting, Cotopaxi and Change.org as they all fall under the category of purpose-driven companies.
The fund will hopefully inspire more businesses to build themselves around similar one-for-one models so that successful businesses can also mean successful development and quality of life for others.
Trend Themes
1. Social Entrepreneurship Funding - Investing in socially responsible start-ups provides an opportunity for disruptive innovation in socially driven business models.
2. Purpose-driven Companies - The rise of purpose-driven companies creates disruptive innovation opportunities for companies to integrate social responsibility into their business model.
3. One-for-one Business Model - Implementing a one-for-one business model can disrupt traditional business models with a social impact mission.
Industry Implications
1. Social Entrepreneurship - The Social Entrepreneurship Fund provides an opportunity for start-ups to integrate social responsibility into their business model.
2. Fashion and Accessories - Fashion and accessory companies can adopt a one-for-one business model, disrupting traditional business models with a social impact mission.
3. Tech and Start-ups - The rise of purpose-driven companies creates opportunities in the tech and start-up industry for businesses to integrate social responsibility into their business model.
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