Translations

How a student association of EDHEC helps its members to engage in the social economy

7. Community involvement

Social investment

Sector Other

Year 2015

Country France

Transmitter

Context

EDHEC Business School was founded in Lille in northern France in 1906. It currently has 7,000 students and five campuses (Lille, Paris, Nice, London and Singapore). The School has a wealth of student associations active in the sports, cultural, economic or social fields. The Develop EDHEC association has some 20 student members and promotes social business.

Objectives

Develop EDHEC is a student association set up to promote social business, a new corporate model as defined by Muhammad Yunus. The new model is conceived for privately-owned companies that operate from a standpoint of economic profitability, but are geared to solving a social or environmental problem rather than to seeking profit.

APPROACH

Develop EDHEC enables its members to engage in the social economy through practical actions out in the field or by raising awareness of the associated issues among various publics.
This calls for a high degree of involvement in projects on the part of the association’s members and training provided by our partners operating in the social economy.

Best Practice spotted in 2015 by the World Forum for a Responsible Economy.

CONTRIBUTION TO COMPANY PERFORMANCE

The Rise: A student inter-school competition geared to raising funds for micro-loans distributed to micro-entrepreneurs around the world. Last year’s competition raised over €90,000. Develop was the biggest individual fundraiser, collecting a total of €12,704 used to finance 37 micro-entrepreneurs.
Run for Loan: A running event in Lille organised to raise funds for micro-loans granted to micro-entrepreneurs throughout the world.
Campus Probono: Free advice provided to a company deemed to be of public utility and which takes the form of a one-day skills-exchange bringing together social entrepreneurs, professionals volunteering their services and students.
Coffee Loop: Support for the development of a social business.

Benefits

Finance for numerous micro-entrepreneurs around the world. This year, the support provided for the development of a company operating on the social business model will allow for close monitoring of its progress and the recognition of the real benefits procured by the company in question.