Apex Honorary Scientific Fellow

Rudra Pd. Ghimire, PhD, P. Ph. Apex Honorary Scientific Fellow Four year’s full scientific program at Fil. Dr. Jan-U. Sandal Institute, Norway.

Topic: Exploring the Role of Social Entrepreneurship in Urban Development Financing

Background

Urban areas worldwide face complex challenges such as poverty, inadequate infrastructure, and environmental degradation. Traditional financing mechanisms often fall short in addressing these issues comprehensively. Social entrepreneurship has emerged as a pivotal force in urban development. It has been offering innovative solutions that blend social impact with financial sustainability. This article explores the role of social entrepreneurship in urban development financing examining its contributions, challenges, and potential for fostering inclusive growth. Social entrepreneurship is defined as the process of identifying and addressing social problems through innovative, sustainable, and scalable solutions. In the context of urban development, social enterprises often operate in areas such as waste management, affordable housing, and renewable energy, particularly in underserved communities. These enterprises not only provide essential services but also stimulate local economies and empower marginalized populations.

Objectives

To explore the role of social entrepreneurship in urban development financing examining its contributions, challenges, and potential for fostering inclusive growth.

To examine how social entrepreneurship contributes to financing urban development initiatives.

To identify the challenges faced by social enterprises in urban settings.

To assess the effectiveness of innovative financing models employed by social enterprises.

Methods

A qualitative approach will be adopted involving case studies of social enterprises in urban areas. Data will be collected through interviews with social entrepreneurs, beneficiaries, and urban

development experts analyzing the role of social entrepreneurship in various sectors such as renewable energy, sustainable agriculture, climate change and waste management. And examining how social entrepreneurs use innovative solutions to address global problems and how these solutions contribute to sustainable financing.

Findings

Social entrepreneurship upsurges job creation and economic empowerment, access capital in the city through innovative financial solutions

Summary and Conclusion

Social entrepreneurship plays a crucial role in urban development financing by providing innovative solutions, creating employment, and leveraging blended finance models. While challenges exist, the collaborative efforts of social enterprises, governments, and financial institutions can overcome these barriers. Supporting to social entrepreneurship is essential for fostering inclusive and sustainable urban development.