Women entrepreneurs feel businesses should have positive social impact

Research by business school INSEAD indicates that successful women entrepreneurs overwhelmingly think that businesses should have a positive social impact.

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The school studied the impact that Cartier’s landmark entrepreneurship scheme has had on the women taking part, reviewing outcomes for their businesses and conducting in-depth surveys to gauge its success. Women entrepreneurs

Some 5,200 new jobs have been created by the businesses that the Cartier Women’s Initiative Awards have supported with grants, coaching and networking opportunities, primarily from the four main partner organisations – Cartier, INSEAD, The Women’s Forum for The Economy and Society and McKinsey & Company.

Growing applications

Applications have grown from 360 in 2007 to 1,800 last year when 18 finalists from six regions were then selected to participate in a unique programme of coaching and training designed to improve each entrepreneur’s business plan, market position and skills.

Six laureates, one from each region, were then selected to receive a USD 20,000 prize and extended business mentoring. Juries are comprised of a range of business experts, business leaders and successful entrepreneurs, including previous laureates.

Winners also benefit from media coverage of their success and an enhanced profile which can open doors and help them take their products and services to market.

For all award applicants, Cartier has created the Cartier Awards network, involving a LinkedIn group, Facebook page, Twitter account and a dedicated online platform, while also facilitating email and phone contact between participants working in the same sector or sharing common interests.

Impact

INSEAD dean Ilian Mihov said: “INSEAD is honoured to have been an integral part of the Cartier Women’s Initiative Awards since its founding in 2006. Assessing their impact over a decade reveals the true achievement of the programme and the immense value it has created for a generation of women leaders.”INSEAD dean Ilian Mihov

Mihov added: “The commitment and engagement shown by all those involved mirror the school’s own dedication to excellence, innovation and diversity, as well as a profound belief in business as a force for good.”

Cyrille Vigneron, president and CEO, Cartier International, stated: “Since its launch in 2006, the Cartier Women’s Initiative Awards partnered with the Women’s Forum, with McKinsey & Company and with INSEAD business school to promote and support women as entrepreneurs and to help them launch new companies, spur innovation and create new jobs.”

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