EIC joined the social entrepreneurship and innovation cooperation agreement

EIC signed a cooperation agreement on social entrepreneurship and innovation with 23 organisations from three different sectors. This is the first collaborative agreement of its kind, with a large number of influential organisations demonstrating their willingness to work together to move forward an area that has a positive impact on society and the environment.

Social enterprises (SEs) are businesses whose main purpose is to create a positive impact on society. SEs sell their products or services with the aim of making the world a better place, including by pursuing sustainable and environmental goals. The societal purpose of SEs means their direct contribution to people’s livelihoods and well-being and to the maintenance of the natural and living environment in a desirable state.

The statutory objectives of EIC share common ground with the development of social entrepreneurship in Estonia. We have funded social enterprises and/or their supporters. EIC can also help to ensure transparency in the business models of social enterprises and prevent greenwashing, guide the emergence of solutions to socio-environmental problems, and contribute to wider networking and information exchange.

At the Social Entrepreneurship and Innovation Development Day, held at the Põhjala factory on 10 May, a joint cooperation tree was created, illustrating the common will to create a sustainable society.

The parties agreed to cooperate in four areas:

• Creating a shared vision for social entrepreneurship and innovation and delivering it in a targeted way;
• Continuing to develop and support social entrepreneurship and innovation support programmes and actions;
• Developing funding measures that are appropriate to the Estonian context and promote social impact and innovation;
• Conducting and analysing sectoral studies.