According to Seddon, FA, Hazenberg, R. and Denny, S. (2013), there are 5 barriers to investing in social enterprises. In the Kiddy project, we try to overcome these barriers.
According to Seddon, FA, Hazenberg, R. and Denny, S. (2013)* from the University of Northampton there are 5 barriers to investing in social enterprises.
(1) Although social mission was central to SE's motivation, social impact could not be effectively demonstrated.
(2) None of the SEs had current, solid and concise business plans to support potential applications for investment.
(3) The management group/board of participating SEs could not be described as capable and credible.
(4) The financial viability of the SE company was often uncertain.
Read how we at Daxap try to overcome these barriers.
(1) We have created an 'Impact Management Plan' throughout Impact StarUp (ISU) accelerator program with the help of, and and signed an agreement with SINTEF Digital to document Kiddy's social impact. This year, professionals will , , collaborate with us to prepare a report that will help to map the results of social impact and improve Kiddy as a multicultural communication tool and app.
(2) After Daxap was established, we joined ISU's accelerator programme, and have been there for 6 months. This has contributed to us being a structured team and being in the market as a social entrepreneur. After the accelerator programme, we have started working with Proneo andfor further business development. It can be seen that our business plan is very structured for a startup company.
(3) The co-founders come from Kiddy's target group and have experienced all the challenges of being included in a new society themselves. Kubilay Kartal as co-founder has project management and entrepreneurial experience. Emirhan Sozan have technical knowledge and experience to develop a highly qualified digital solution with a well-composed technical team, Asim Emre Yilmaz, Mustafa Gul, Ismail Kaya and Bulut Ballikaya to meet the requirements of Agile/Scrum methodology. Anders Krohn has international experience in marketing and branding, and has joined as an investor through his company and has taken on the role of chairman. Simen Riffault Andresen as a former contact teacher and network builder, is on the team as sales and marketing manager.
(4) At the end of the first year of the Kiddy project, we have entered into a contract with a district i Oslo council, Southern Nordstrand. The first institution as a paying customer is entered into the system. It is worth expressing that we are somewhat lucky in this regard. It is not always possible to meet people, Tone Evensen from Magic Knowledge, from OsloMet, and the board of the district Pia Maria Jakset,, Kjell Arne Voldsrud, Anette Brændholen and Mette Sofie Møller who understand the nature of entrepreneurship and take bold decisions that prioritize the best interests of society.
We have already got an investor through Lemmus Lemmus LLC, as well as commercialization grants from innovation Norway. This motivates us for the future and gives us further faith that we can make a positive impact in society. The feedback we receive from our partners, supporters, customers and users makes us an investable social entrepreneur against five barriers mentioned by Seddon, FA, Hazenberg, R. and Denny, S.