Stéphanie Schmidt (E95): “Social Entrepreneurship Is Booming in Africa”

Stéphanie Schmidt (E95), manages partnerships on the African continent for the world’s leading network for social entrepreneurs. Most notably, she is backing Changemakers United Africa, an initiative that sets out to develop solutions to the COVID-19 pandemic. Here’s what she has to say.

ESSEC Alumni: How did you end up working in social entrepreneurship?

Stéphanie Schmidt: While still at ESSEC, I helped found the ESSEC Humanitarian Aid association. Then, after a somewhat traditional start to my career in banking and consulting, I became programme director for an American NGO in Rwanda. From there, I joined Ashoka’s head office in Washington, where I launched an initiative to develop links between social entrepreneurs and big companies. Fifteen years and four continents later, and I am still passionate about my work!

EA: What does Ashoka do today?

S. Schmidt: Ashoka is the world’s leading network for social entrepreneurs: for 35 years now, this non-profit organisation founded by a McKinsey consultant has identified, supported and helped grow more than 4,000 pioneering entrepreneurs in social innovation, in 90 countries. Our aim is to create a world where everyone is able to take fast and effective action to meet the challenges faced by society: “Everyone is a changemaker”.

EA: Who are the social entrepreneurs in the Ashoka network?

S. Schmidt: In France, you may have heard of François Taddei, a researcher and innovator in education; Christian de Boisredon, founder of Spark News and pioneer in solutions journalism; or Paul Duan, founder of Bayes Impact, which uses algorithms and big data to solve societal issues. 

EA: What support can you offer to social entrepreneurs?

S. Schmidt: We use a philanthropic venture capital model: a rigorous selection process to make sure that the idea is truly innovative and assess the applicant’s entrepreneurial ability; active financial and professional support for three years; and lifetime membership of the international Ashoka network. And all thanks to the donation of private capital, sourced mainly from entrepreneurs in the business world.

EA: One of this year’s big launches was the Changemakers United Africa initiative. What is its aim? 

S. Schmidt: With COVID-19, 12 million Africans are at risk of falling into extreme poverty. Changemakers United Africa sets out to support 16 social entrepreneurs who are developing solutions to the problems the pandemic has caused in Africa: access to healthcare, education, economic resilience, the protection of vulnerable groups, like women and rural populations, and transparency in public budgets, to name but a few.

EA: In concrete terms, what does the programme involve?

S. Schmidt: It will run from September to December and provide consulting, expertise, visibility, and connections. You can even make a contribution yourself: please feel free to take a look at the entrepreneur profiles on our website. We’d also really appreciate it if you’d share Changemakers United campaign messages, or make a donation.

EA: How is the social entrepreneurship sector faring in Africa? 

S. Schmidt: Social entrepreneurship is booming in Africa, but of course there are significant differences between countries in terms of recognition, dynamism, and support. Kenya, South Africa, Senegal and Ghana are particularly advanced in this field. While public services are lacklustre in many countries, the action of social entrepreneurs, who step into the void left by the failings of markets and systems, realises its full potential and deserves to be supported.

EA: Are you running any other initiatives for social entrepreneurs in Africa?

S. Schmidt: The Ashoka network is present in 23 countries in Sub-Saharan Africa, and there are more than 420 fellows active in all the major spheres of society. As we do elsewhere, we provide ongoing support, both in terms of finance and through the network, via our four regional offices in Dakar, Nairobi, Johannesburg, and Lagos.

EA: How can our alumni support your work?

S. Schmidt: Ashoka has created the Ashoka Support Network (ASN), a network of activist philanthropic entrepreneurs and business leaders, who often mentor a social entrepreneur. Created in France, the network is very active and we are currently launching it in Africa to develop our actions in the region. Don’t hesitate to get involved! We are also setting up partnerships with big companies around the theme of social innovation and the company’s core business.

Interview by Louis Armengaud Wurmser (E10), ESSEC Alumni Content Manager

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