If these organisations and the ventures they support have an explicit focus on creating a positive impact through their work, then these efforts can represent a localised, sustainable approach to development. An approach that focuses on supporting local individuals or organisations to address relevant issues in more appropriate ways, and through this, creates both social and economic value.
There are many examples of ventures growing and delivering both financial returns and development outcomes. They are often referred to as either social or inclusive businesses, social enterprises, or impact ventures. There is growing interest in these models from governments, corporations, development organisations, and investors, and as a result, more incubation and acceleration programs are focusing on ‘impact’.