The Effect of Innovation and Technology in Social Entrepreneurship: A Study of Selected Social Ventures in Nigeria

Abstract

In recent years, Nigeria has witnessed a burgeoning interest in social entrepreneurship as a means to address pressing societal challenges while fostering economic development. This study explores the transformative effects of innovation and technology on the landscape of social entrepreneurship in Nigeria. As the country grapples with complex social issues, the integration of innovative solutions and technological advancements has emerged as a promising avenue for social entrepreneurs to create lasting impact. This research employs a multidisciplinary approach, drawing insights from the fields of business, technology, and social sciences. It examines case studies, and conducts surveys from social entrepreneurs, stakeholders, and beneficiaries to assess the influence of innovation and technology on the success and scalability of social enterprises in Nigeria. The study also considers the role of government policies, funding opportunities, and support networks in facilitating the adoption of innovative technologies within the social entrepreneurship sector. The findings reveal that the infusion of technology and innovation has significantly enhanced the effectiveness of social entrepreneurship initiatives in Nigeria. Innovations such as mobile payment platforms, blockchain, and data analytics have improved financial inclusion, healthcare delivery, and access to quality education. This research underscores the importance of fostering an ecosystem that encourages innovation and technology adoption within the realm of social entrepreneurship in Nigeria. It highlights the need for collaboration between government, private sector stakeholders, and civil society organizations to provide access to funding, mentorship, and infrastructure for technology-driven social enterprises. This study contributes valuable insights to the on-going discourse on the role of innovation and technology in advancing social entrepreneurship and development in Nigeria. Keywords: Innovation: Technology: Social Entrepreneurship: Social Enterprise: Nigeria.