Business Models for Social Impact

A 5-week course by MITx

Course Description

This innovative five-week course, "Business Models for Social Impact," is designed to empower early-stage social impact startups and aspiring social entrepreneurs to develop compelling business plans that effectively communicate their mission and impact. Offered by MITx, this course provides a unique opportunity to learn from real-world case studies and gain practical skills essential for success in the social entrepreneurship sector.

What You'll Learn

  • Define and articulate key aspects of a social impact startup, including impact opportunity, theory of change, and scaling strategies.
  • Analyze and learn from successful social ventures, applying insights to their own projects.
  • Develop a comprehensive social business model and impact plan.
  • Create a pitch video to attract potential partners and users.
  • Build confidence in identifying and addressing social and environmental challenges.
  • Network with like-minded social innovators from around the world.

Prerequisites

While there are no formal prerequisites, a basic understanding of business concepts is helpful. It's beneficial, though not required, to have a project or idea that you're currently working on, as this will allow you to apply the course concepts directly to your venture.

Course Content

  • Impact Opportunity: Understanding the scale of the problem and potential impact
  • Customer Discovery: Identifying and understanding target beneficiaries
  • Theory of Change: Ensuring your approach effectively addresses the problem
  • Planning for Scale: Strategies for expanding reach and securing funding
  • Case studies of successful social enterprises, both nonprofit and for-profit
  • Designing a social business model and impact plan
  • Creating an effective pitch video (optional)

Who Should Take This Course

  • Aspiring social entrepreneurs considering applying to programs like MIT Solve's Global Challenges
  • Individuals currently working on solutions to social or environmental problems
  • Those in the early stages of developing an idea for a social impact venture
  • Anyone passionate about driving positive change through innovation and entrepreneurship

Real-World Applications

The skills acquired in this course are directly applicable to launching and growing social impact ventures. Learners will be able to:

  • Develop compelling applications for social impact innovation programs and funding opportunities
  • Clearly communicate their venture's mission and impact to potential partners, investors, and beneficiaries
  • Design effective strategies for scaling their impact and reaching more people
  • Apply a structured approach to addressing complex social and environmental challenges
  • Network and collaborate with other social innovators to amplify their impact

Syllabus

Week 1: Introduction to Social Entrepreneurship and Impact Opportunity

Week 2: Customer Discovery and Understanding Beneficiaries

Week 3: Developing a Theory of Change

Week 4: Planning for Scale and Sustainability

Week 5: Pitching Your Social Impact Venture

Join the Community

By enrolling in this course, you'll gain invaluable insights from MIT's world-renowned innovation ecosystem and join a global community of change-makers dedicated to solving the world's most pressing challenges. Whether you're refining an existing project or just beginning your social entrepreneurship journey, this course will equip you with the tools and knowledge needed to make a lasting impact on society and the environment.