The world is not short of challenges, but it desperately needs solutions. The Triangle, an innovation hub for the next generation of entrepreneurs based in Šibenik in Croatia, illustrates how to foster innovation and education in a regional setting with a long-term goal.

At this year’s Philea conference in Šibenik, a site visit to ‘The Triangle’, the Centre of Technologies and Entrepreneurship, exemplified how creativity can foster innovation and pioneer a more sustainable future. To that end, philanthropy – positioned at one edge of the triangle – plays a pivotal role in enabling scientific and innovative advancements that drive positive developments as innovation and entrepreneurship act as powerful catalysts for global, but also local, economic development.

Besides offering flexible coworking spaces, the Triangle serves as a hub for local entrepreneurs, now hosting multiple innovators and educators. For example, a team of entrepreneurs and educators has revived the Croatian television character of Professor Balthazar, a cartoon character that has been around for more than 50 years, and which embodies the spirit of progress and innovation. More than a simple cartoon, he serves as an innovative medium to popularise new technologies and facilitate the transfer of knowledge to the youngest generation.

Skilling the next generation of entrepreneurs

Young entrepreneurs are in a hurry of founding businesses that address social and environmental challenges. And while Croatia is determined to improve legal and regulatory frameworks for social businesses, only about one per cent of new enterprises took environmental implications into account in 2022, according to the Global Entrepreneurship Monitor (GEM). Yet, one out of three newly and already established companies in Croatia are aware of the Sustainable Development Goals (SDG).

Training young people to become sustainable entrepreneurs and enabling them to connect has to start early. While Professor Balthasar is a good example for arousing interest in STEM topics for the youngest, future talents can develop their skills by joining social networks focusing on skilling the next generation. Goodwall, for example, is a skills social network on a mission to train, connect, and mobilise the next generation of ‘ecopreneurs’. For governments, however, it is important not to conflate STEM skills with green skills but to think of them as a transformative concept for fostering climate empowerment, driving climate action, and achieving climate justice for future generations.

Social enterprises for a sustainable and social economy

While it is challenging for established organisations and industries to radically change and turn towards a more sustainable and inclusive model, fundamental issues, including climate change and rising inequality, demand a radical redesign of the system.

Rethinking and redesigning systems and offering alternative and more sustainable solutions fall well within the capabilities of social enterprises and innovators, as they provide important building blocks for a social and sustainable economy. A recent resolution adopted by the United Nations on April 18^th has formally recognised the pivotal role in achieving the UN’s Sustainable Development Goals (SDGs) by promoting a social and solidarity economy. However, the enabling ecosystem is nascent.

What role for philanthropy?

Philanthropy can have a critical role in building this ecosystem. For example, venture philanthropy can provide ‘patient capital’ for the development of new social enterprises to a point where they are investable and have their impact strongly embedded in the system. Philanthropy can also do more to acknowledge social enterprises as critical changemakers while supporting the next generation of innovators and entrepreneurs.

How could philanthropy support the development of a sustainable and just world? And how does your organisation look at the role of innovation and social enterprises as change makers? Would venture philanthropy suit you? How can you take a more active role in supporting the development of the future entrepreneurs?

Tobias Bürger, PhD, is a project manager at the Bertelsmann Stiftung.
Dieuwertje Nelissen is Chief Program Officer at Enviu Foundation.
Tabatha Schmidhauser is the general secretary at the Haas Foundation.