Entrepreneurs make themselves rich by making the world a better place. Sometimes, this doesn’t work so well – thieves, deception and ill-conceived ideas are magnified by scale too – but there are some great stories about how business can really make a difference. Red Herring is a great source for updates… Here’s a sample:
FRIDAY, DECEMBER 23, 2005 WEEKLY UPDATES
IN PRINT: Do-Gooders There’s no rule that says do-gooders can’t make money. David Green’s Aurolab in India, for instance, sells intraocular lenses, a treatment for cataracts, at $4 a pop in India, compared to the $100 price tag for such lenses in the United States. Yet the nonprofit company boasts 52 percent profit margins, with sales of 600,000 units in 86 countries, and 7.5 percent of the sector’s global market share.
“Profit and production capacity are utilized to fulfill social mission,” says Mr. Green. Red Herring profiles six other do-gooders like Green who’re using technology to help others. Jhai Foundation founder Lee Thorn has brought $200 PCs to Laos, helping farmers find better prices for basic commodities they grow like rice. And in the United States, Internet service provider owner Mac Dearman helped family members displaced by Hurricane Katrina get in touch with each other by setting up a VoIP phone network after the storm. Find out more about social entrepreneurs in our story, “Do-Gooders: Six Who’ve Applied Tech To A Good Cause.”