Enterprise Promotion And Innovation Centre

By Author: Noor Din
Total Articles: 1
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Definition of Social Enterprises

Social Enterprising
&
Enterprise Promotion and
Innovation Centre (EPIC)

Definition of “For profit Enterprises”

“For-profit Enterprising” (Banks, Wal-Mart, Leons, Toyota…….) focus on maximizing a single bottom line to measure their success
=> Profit = Single bottom line
Definition of Social Enterprises

“Social Enterprises” refer to business ventures operated by non-profits, whether they are societies, charities, or co-operatives. These businesses sell goods or provide services in the market for the purpose of creating a blended return on investment, both financial and social. Their profits are returned to the business or to a social purpose, rather than maximizing profits to shareholders.
They can also be privately owned ventures that have a very strong blended financial and socially responsible return on investment.
EPIC is Building a Caring Economy!

EPIC (Enterprise Promotion and Investment Centre) is an incubator that assists prospective entrepreneurs and self/employment ...
... minded members from marginalized communities by providing support in market identification, technical support, training and launching community owned and/or operated low cost social enterprises

Officially launched in March 2010, with the support of manpower from Employment Ontario, currently funded by The Ontario Trillium Foundation and United Way of York Region. The project’s Focus is to establish social enterprises owned and/or operated by groups of marginalized community members.

EPIC Achievements:

Introduced and implemented innovative solutions to address chronic un/under employment problems
3 Conferences on Social Economy
Created awareness and recognition with key players: MTCU, Ontario Trillium Foundation, United Way of York Region, York Region
2 National level research papers and one presentation (Fredericton, Vancouver and Waterloo (June , 2012)
Numerous newspaper and TV coverage
Setting up a trendsetting example for community economic development and not-for-profit sector
Two Streams of Social Enterprises

Community owned & operated
For entrepreneurial & self employment minded

Human Endeavour owned, community operated
For employment minded

For training & work experience
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