How The New Generation Of Entrepreneurs Is Striking The Right Balance Between Profit-Making And Social Welfare

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How The New Generation Of Entrepreneurs Is Striking The Right Balance Between Profit-Making And Social Welfare

sweta mangal

A number of entrepreneurs across different industries are looking beyond making a profit in their business. The have clear social and environmental goals, apart from amassing wealth from their ventures. The preference of consumers has also changed, as they expect companies to do more for the society.

One of the startups which has found a way to solve the social problems is Ziqitza Heathcare Ltd, Co-founded by Sweta Mangal. Operating under an innovative model, the company caters to the emergency medical needs of the unprivileged across 18 states in the country.

There are many reasons behind this change in approach, none bigger than the age of these entrepreneurs. The average age of current entrepreneurs is around 30-40 years in India, which means they have different priorities, as compared to the last generation of entrepreneurs. These young entrepreneurs want to have a positive impact on the society. They also have their goals of amassing wealth, but the medium is quite different.

Sweta Mangal, the Former CEO of Zqitza healthcare ltd states that the lack of opportunities is bothering the younger generation. So, existing entrepreneurs have a job on their hands to create more opportunities for the next-gen, apart from leaving a positive impact on the society.

This is where Ziqitza has come up with a different concept of ‘Earning money by serving the unprivileged’. It has found a way to create opportunities and earn profit by impacting the lives of the poor. It operates under 2 models – one is a private service that charges rich patients for ambulance service. While other is a government supported public service that charges very less or nothing from the unprivileged.

The company also allows private hospitals to brand its ambulances. Hospitals are able to promote their business, while the vehicles are operated by Ziqitza and its trained medical staff.   

“No matter if the business is socially-motivated or not, without regular income, it is not possible for a venture to expand or even exist for that matter,” says Mangal.  

The new generation of entrepreneurs is taking the world by storm with effective solutions for different social problems. They believe in increasing social wealth along with their business wealth. They have mastered the art of striking a balance between profit-making and social good.

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