Since the beginning of this decade, the Internet is changing the way we live, learn and work. The impact is unprecedented, entire industries are being disrupted. Corporations and institutions are struggling with the transformation to digital, new business models and shortened product life cycles. In 1960 companies stood in the S&P 500 index for over 60 years. 20 years later, in 1980 the average stay in the index had fallen to less than 25 years. Today, every two weeks a company S&P 500 index is being replaced by a new player most of us had not heard about a decade ago.
Contrary to the fall of the ‘dinosaur corporation’, the number of start-ups is increasing year after year. Today, entrepreneurship is more popular and accessible than ever. Open source code, cloud solutions, online collaboration platforms and market places are lowering the product development costs and barriers to entry for new ventures in any given industry.
Almost by nature, new ventures come into existence through the creation of new products and services by solving persistent issues. Rather than protecting stocks of intellectual capital, countless ventures started embracing full transparency and openness. What begun with open source code sharing, quickly developed into a new venturing model. Today, millions of next generation entrepreneurs, co-founders, specialists, investors, companies, institutions and advisors team-up to create and venture together. All of this is happening at an ever-increasing rate.
Moreover, crowd funding platforms such as Causes, Kickstarter and Idiegogo stimulate individuals and organizations to become engaged in social venturing. Social entrepreneurship has become a global phenomenon where millions of volunteers and institutions are working on solutions to solve some of the worlds’ greatest challenges in poverty, learning and healthcare.