The Secretary General of the Union of Arab Chambers, Dr. Khaled Hanafi, participated in the International Forum for Social Entrepreneurship (Tajseer), held via "video conference" technology, organized by the International Community Entrepreneurship Program (Tajseer) - Member of the Regional Network for Social Responsibility in cooperation with the Arab International Center for Entrepreneurship and Investment - Bahrain (AICEI) and the Investment and Technology Promotion Office of the United Nations Industrial Development Organization - Bahrain (ITPO).
Dr. Hanafi focused in his intervention on the importance of social entrepreneurship for enterprises in the era of digitization and its role in responding to the challenges of the stage, and the increasing importance of social capital in shaping the goal of private sector enterprises, in directing its relationships with stakeholders, as in influencing its ultimate success or failure. He stressed that this new business model represents a fundamental axis for the future of business and for strengthening the role of the private sector in economic and social development, especially with the escalation of epidemic, climatic and humanitarian challenges.
He added that the ongoing Covid-19 crisis accelerated the use of digital technology and the innovative solutions it provided, especially the "fintech" that supported financial inclusion in many Arab countries.
He referred to the initiatives of the Union of Arab Chambers in the field of social entrepreneurship, especially the Arab Rally competition, the first version of which was launched in 2019, and the second edition of which will be launched in 2021.
The main theme of the forum revolved around "digitization requirements for transforming pioneering social projects into successful opportunities".
The forum also dealt with the following topics: The importance of social entrepreneurship for enterprises in the era of digitization and its role in responding to the challenges of the economic recovery phase from the Corona pandemic, ECOSYSTEM, an ecosystem conducive to social entrepreneurship, access mechanisms for financing, technology connectivity, incubation systems, and accelerators, Social Entrepreneurship and its role in responding to challenges in the post-economic recovery phase.
In addition to the focus on government companies and the private sector "PPP" as a modern model that achieves the success of social entrepreneurship for digital transformation, and the importance of social entrepreneurship for enterprises in the era of digitization and its role in responding to the challenges of the economic recovery phase of the Corona pandemic, the digital environment for the development of entrepreneurship and creative and innovative ideas for social projects emerging in the stage of digital transformation.
Participants also discussed the alignment of the social entrepreneurship strategy with the global agenda for sustainable development. In addition to the issue of transforming "start-ups" from the stage of the idea to the stage of achieving profits and impact through investing in the digital medium. In addition to standard references in measuring the return impact of social entrepreneurship projects.
The forum also aimed to enhance awareness of the sector of social entrepreneurship and social enterprises, and to create basic and technical infrastructure such as social business incubators and accelerators to launch social enterprises, developing a set of solutions to ensure support and financing of promising social projects, developing the capabilities of Arab social entrepreneurs and related institutions, creating a platform for online communication between entrepreneurs and investors in the field of social impact, and the conclusion of partnerships to develop, direct and finance social businesses that solve the most urgent problems, and to encourage the launch of social companies with sound and ethical business practices for Arab youth.
Source (Union of Arab Chambers)
