A social entrepreneur is one who recognizes a social problem, and, by using entrepreneurial principles, makes a social change. Such could be said about 7-time Tour de France winner and cycling legend Lance Armstrong.
The highly-decorated cyclist retired from professional cycling for good in 2010 to devote himself to the non-profit organization that he founded way back in 1997 – the Lance Armstrong Foundation.
A former cancer patient himself, Armstrong recognized the need to create social awareness for cancer, and, as such, the foundation was born with the mission “to inspire and empower” cancer patients and their immediate families.
Although the foundation accepts donations, its proceeds generally come from the sale of merchandize from its online store as well as its partner, NIKE. The foundation’s most prominent merchandize, the yellow LIVESTRONG bracelet, could be purchased from outlets such as Spotchek or NIKE stores in downtown or Metrotown.
The Lance Armstrong foundation uses a wide range of advertisement campaigns. Through the organizing of events, partnerships with various communities, the foundation creates a strong awareness about its existence and its mission. The representation of athletes who endorse the foundation at sports events such as cycling races, marathons and triathlons also boost the foundation’s publicity.
For more information about LIVESTRONG, the Lance Armstrong Foundation, visit www.livestrong.org.
Photograph adopted from www.livestrong.org.
