We trust that you are always looking for sources of inspiration and education, and we have found a unique one that aligns perfectly with our ethos. We recently came across an article published by Rutger Bregman in De Correspondent, titled "Meet the Hogwarts for World Improvers (warning: it's easier to get into Harvard or Oxford)," which we highly recommend reading or listening to.
The article we recommend in this post is originally written in Dutch. However, we have thoroughly analyzed it and will provide an English summary and key takeaways to ensure that non-Dutch speakers can also benefit from its insightful content.
Hogwarts for do-gooders: Charity Entrepreneurship
The article discusses an innovative initiative called Charity Entrepreneurship based in London, an institution often described as the "Hogwarts for do-gooders." The school is committed to creating entrepreneurs guided not by profit but by the desire to create the best charities in the world. Every year, they conduct thorough research to understand how they can help as many people and animals as possible and what organizations should exist but haven't been found yet.
The process of Charity Entrepreneurship is quite fascinating. Thousands of idealists worldwide apply to start the next big thing in the charitable sector each year. After an extensive selection, some candidates are invited to London, where they receive a two-month crash course. They are then matched with a case and a co-founder and given a small amount of seed capital to start their journey.
From the article, five essential points can be gleaned for entrepreneurs looking to learn:
- Idea Generation and Problem-Solving: The "Charity Entrepreneurship" school in London, also called the "Hogwarts for World Improvers," trains individuals to tackle the world's most significant and overlooked problems. They conduct extensive research on how to help as many people and animals as possible and where the best investments with the highest returns are located. They focus on "neglected challenges" that can be tackled and look for gaps in the market of doing good.
- Entrepreneurship in Non-Profit Sectors: The school serves as a "pressure cooker" for start-ups, but instead of focusing on the most profitable companies, it aims to create the best charities. It offers training for entrepreneurs, but these entrepreneurs are highly idealistic and focus on helping others rather than making a profit.
- Selection and Training: Thousands of candidates worldwide apply to the school, but only a small selection is invited to London. They receive an intensive two-month course, are matched with a case and a co-founder, and receive a small start-up capital to get their project off the ground.
- Impact and Success: Since its establishment in 2018, the school has created over twenty non-profit organizations that make a difference for millions of people and animals. This proves that their non-profit sector entrepreneurship model can be successful.
- Importance of Real-Life Examples: The article provides two examples of successful enterprises that have emerged from the school. Lucia Coulter co-founded the Lead Exposure Elimination Project, which fights against lead poisoning, a widespread but under-addressed problem that is solvable. Anna Christina Thorsheim is one of the founders of Family Empowerment Media. This organization prevents unwanted pregnancies in Nigeria by disseminating reliable information about contraception through radio programs. These are two examples of how entrepreneurship can address significant, overlooked, and solvable problems.
Fostering The Same Mindset as Entrepreneurship Awards
The work of Charity Entrepreneurship aligns with the mission of the Entrepreneurship Awards. Like us, they foster entrepreneurial thinking, collaboration, and innovation, albeit in the non-profit sector. They are tackling some of the world's most neglected and solvable problems, like our participants developing unique startup concepts based on assigned keywords and pitching these ideas for discussion and refinement.
As a community, we have always strived to create an environment that encourages entrepreneurial thinking and fosters problem-solving. This article is a testament to how that same spirit can be applied to the non-profit sector, which might present a novel perspective for many of us. As we continue to develop our ideas and businesses, let's not forget that the entrepreneurial mindset isn't limited to for-profit endeavors. It can be a powerful tool for creating change and impact on a much broader scale.
We encourage you to read this article, reflect on its content, and see what insights you can apply in your entrepreneurial journey. Let the story of Charity Entrepreneurship remind us that entrepreneurship is not just about business strategies, tools, and methods essential for building successful businesses. Still, it is also about impacting and changing our communities and the world.
We hope this article will inspire you as much as it has inspired us, and we look forward to your thoughts and reflections.