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COVID-19 Action Agenda
Leaders on the Front Line:
Why Social Entrepreneurs Are
Needed Now More than Ever
SEPTEMBER 2020
COVID-19 ACTION AGENDA
SEPTEMBER 2020
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Email: contact@weforum.org www.weforum.org
© September 2020 World Economic Forum. All rights
reserved. No part of this publication may be reproduced
or transmitted in any form or by any means, including
photocopying and recording, or by any information storage
and retrieval system.
COVID-19 ACTION AGENDA
SEPTEMBER 2020
Cover:
Yunus Social Business, India, Akhil Pawar
Contents
5
8
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18
25
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30
32
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41
42
45
68
69
Foreword
Executive summary
Chapter 1
COVID-19: A global crisis, hitting the most vulnerable the hardest
Chapter 2
Why social entrepreneurs are needed now more than ever
Chapter 3
What social entrepreneurs need to play their part
Chapter 4
COVID-19 Social Enterprise Action Agenda
4.1
Supporting intermediaries
4.2
(Impact) investors
4.3
Corporations
4.4
Funders and philanthropists
4.5
Government institutions
Chapter 5
The road ahead
Appendix 1
Who are social entrepreneurs?
Appendix 2
About the COVID Response Alliance for Social Entrepreneurs
Alliance member profiles
Acknowledgements
Endnotes
COVID-19 Action Agenda
Leaders on the Front Line
3
COVID-19 ACTION AGENDA
SEPTEMBER 2020
“We call on all actors
to stand by social
entrepreneurs as front-
line responders to the
COVID-19 crisis and
as pioneers of a green,
inclusive society and
economic system.”
Members of the COVID Alliance
for Social Entrepreneurs
Aavishkaar Group, Acumen, Africa Venture Philanthropy Alliance (AVPA), Agora Partnerships,
Argidius Foundation, Ashoka, Asian Venture Philanthropy Network (AVPN), Aspen Network
of Development Entrepreneurs (ANDE), B Lab, CASE at Duke University, Catalyst 2030,
Co-Impact, DOEN Foundation, Draper Richards Kaplan Foundation, Echoing Green, Euclid
Network, European Venture Philanthropy Association (EVPA), Fundación Avina, GHR
Foundation, Global Impact Investing Network (GIIN), Global Innovation Fund, Global Steering
Group for Impact Investing (GSG), Greenwood Place, IIX, IKEA Foundation, IKEA Social
Entrepreneurship, Impact Assets, Impact Hub, International Labour Organization, Johnson
& Johnson, KIVA, Latimpacto, Lex Mundi Pro Bono Foundation, Mercy Corps Ventures,
Motsepe Foundation, NESsT, Nonprofit Finance Fund (NFF), Open Road Alliance, Rippleworks,
Root Capital, Salesforce.org, SAP, Schwab Foundation, Shell Foundation, Skoll Foundation,
Sorenson Impact Foundation, Thomson Reuters Foundation, UNDP Business Call to Action,
UNDP SDG Impact, United States African Development Foundation (USADF), USAID Center for
Innovation and Impact (CII), Village Capital, Yunus Social Business, 60 Decibels
COVID-19 Action Agenda
Leaders on the Front Line
4
COVID-19 ACTION AGENDA
SEPTEMBER 2020
Foreword
“Everything we do during and after
this crisis must be with a strong focus
on building more equal, inclusive and
sustainable economies and societies
that are more resilient in the face of
pandemics, climate change and the many
other global challenges we face.”
When UN Secretary-General António Guterres spoke
of the effects of the crisis and what it meant for the
efforts of change-makers all over the world to build
a better world, it was clear that today’s systems are
not shockproof or able to manage the immediate
and long-term consequences of the pandemic.
One by one, countries have gone into lockdown,
people are withdrawing into their homes and circles,
and vulnerable and marginalized communities are
being hit the hardest: those living in poverty, without
the security of a job or furlough scheme when jobs
disappear, migrants or the homeless – the list goes
on. The World Bank estimates that over 420 million
additional people will be pushed into poverty, writing
off all the gains made to alleviate poverty since 2016.
These communities need global solidarity urgently.
At the Schwab Foundation for Social
Entrepreneurship, we have worked for the past
two decades to help social innovators and
entrepreneurs build and scale their important work
to find alternatives to our systemic failures and
inequalities. Now more than ever, we need these
leaders – not only to help provide the immediate
assistance to the vulnerable, but also to inspire a
“reset” of our society that is failing so many today.
In March of this year, when the scale of the
COVID-19 pandemic became apparent, social
entrepreneurs across the world – including many
in our Schwab Foundation community – were
quick to stand by their communities and clients,
their employees, and the families whose lives they
touch. They were able to bring affordable healthcare
to those in need, protect thousands of jobs and
provide emergency relief swiftly.
For social entrepreneurs to lead, however, they
need each of us – funders, investors, corporations,
supporting intermediaries and governments alike –
to connect them with capital and support to adapt,
continue and expand their work.
The COVID Response Alliance for Social
Entrepreneurs
is collaborating with 60 leading
social-change organizations towards a common
goal: to
support social entrepreneurs who
protect the most vulnerable in this crisis and
shape the transition to a new normal in its
aftermath.
The support of the Schwab Foundation and its
partners, the GHR Foundation, Yunus Social
Business, Duke University and Catalyst 2030,
enabled the Alliance members to understand the
needs of social entrepreneurs during the COVID
crisis, coordinate and amplify their respective
support efforts, and collectively outline an Action
Agenda towards this goal.
By means of this
COVID-19 Action Agenda,
members of the Alliance invite their peers,
businesses and governments, to join them in action.
The Action Agenda builds on the commitments
and actions that our members have already taken
and seeks to both inspire and provide practical
guidance on the “why”, “what” and “how” of the
recommendations included in this document.
Unprecedented times call for unprecedented actions.
We urge you to join us and other members of the
Alliance to take bold and immediate action. The time
to get behind our social entrepreneurs, many of whom
are working on the front line of the crisis, is now.
Hilde Schwab
Chairperson, Schwab
Foundation for Social
Entrepreneurship
François Bonnici
Head, Schwab Foundation
for Social Entrepreneurship
COVID-19 Action Agenda Leaders on the Front Line
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