A Vancouver teen named Aanikh Kler created a company that sells a ringtone that can only be heard by kids and teens for 99 cents. But this isn’t just simply about generating profits, Kler is combining the concepts of social responsibility and entrepreneurship: social entrepreneurship.
The concept of sounds that can’t be heard by adults is not new to the world, but a combination with fundraising for children in third world countries is one to support. According to Kler, for every app download, 20 cents is donated to Free the Children and “by the time the app store fees and taxes are taken into account, the share amounts to close to 50 per cent of the app’s profit”.
This illustrates both the economic and social aspect of corporate social responsibility, by helping societies in need while still being able to generate profit. By continuously generating profit, Kler and his company, UndrTheRadr is able to sustain the work they do.
Here, Kler has also created shared value that also acts as his company’s competitive advantage. Sometimes, by taking an idea and adding a social entrepreneurial aspect to it, businesses can find a social objective that consumers demand in companies nowadays.
Watch him on the student special (season 8) of Dragons’ Den:
http://www.cbc.ca/player/Shows/Shows/Dragons’+Den/Pitches/ID/2418119024/