A graduate degree could be what it takes to transform yourself into a successful social entrepreneur, as these real-life examples show.
"I don't know anybody who is an entrepreneur who said I am going to business school to get an MBA," challenges Dr Pamela Hartigan, director of The Skoll Centre for Social Entrepreneurship at Oxford University's Saïd Business School.
"You either are an entrepreneur or you are not, and, if you are, you just get on with it. The same holds for social entrepreneurs. The only difference is that they are focused on creating a new product or a new way of doing things that is going to benefit the world."
"If you are going to do a graduate degree, you should make sure it gives you some useful tools by pursuing subjects such as engineering, economics or healthcare. The best social entrepreneurs in the world are people who have focused on a particular area. For example a disproportionate number of social entrepreneurs are engineers."
The engineer entrepreneur
One such engineer is Harish Hande, who was 26 when he founded Selco India, a company selling, installing and servicing solar lights for poor Indian households.
After a decade and a half of struggle to find the right investment partners, Selco has recently received $1.4 million in equity finance from the Good Energies Foundation and other organizations.
The idea came while Hande was a graduate engineering student at the Centre for Sustainable Energy at the University of Massachusetts. While on a trip to the Dominican Republic he saw the potential for the technology to be used in his home country.
"I saw these very poor people using solar lighting," he says. "Why couldn't we?"
He linked up with a charity dedicated to the promotion of solar power in developing countries.
But Hande soon realized that it wasn't just providing the lights that mattered; it was financing their purchase and servicing them, something a company could do better. The sticking point was the upfront cost, and it took him a long time to persuade local banks and cooperatives to create niche financial products that would enable individuals and families to purchase the lights.
Hande's key lesson is this. "Irrespective of whether you want money, you should have control of the company," he says. "Never take it from someone whose mission is not aligned with your own."
Get closer to your dream programme
Your consent preferences have been set.
Time to start exploring.
Your account has been removed.
You can still browse the site or sign up again once you have parental consent.
Get closer to your dream programme