Visionaries of Change? Unveiling the World of Impact Entrepreneurs

By Viktoria Unger

Supervisor: Dr. Susanne B. Unger

Social and environmental issues such as climate change, poverty, and social inequality – commonly referred to as grand challenges – constitute the most pressing issues of our time that endanger and transform our way of life (George et al., 2016; Gümüsay et al., 2022; Wickert et al., 2021). Facing and overcoming these challenges is necessary to drive progress toward the 17 Sustainable Development Goals by the United Nations as well as to secure and advance living standards in all parts of the world. Impact entrepreneurs tackle these challenges by introducing technological and environmental/social innovations that place collective value creation over individual economic gain (George et al., 2016; Markman et al., 2019). Impact can be defined as value added, distributed, and destroyed. This implies that entrepreneurs should not solely focus on economic worth but also consider the environmental and social impact they create or diminish. Subsequently, impact entrepreneurs work together to address significant challenges by applying business principles with the goal of creating a better world.
But how does the reality look like? How does impact translate into tangible outcomes that better our society and planet? What is the impact understanding, especially of environmental and social entrepreneurs? What is the value added of using the term impact? What are the problems that these entrepreneurs are tackling and what are the challenges they face? Is impact entrepreneurship the best hope for our future?

My final project sheds light on these questions and critically examines impact entrepreneurial activities through discussions with entrepreneurs addressing societal and environmental issues. The short documentary portrays individuals who are developing different solutions (e.g., from using technology for the circular economy to promoting cultural togetherness with modern formats): (1) Weihua Wang from myBuddy, (2) Christian Knobloch from Recyda, and (3) Gustav and Wendelin Holz from VELOGYM. By sharing their personal stories, I hope to inspire sustainable practices in our daily lives and for our future careers.
By carefully considering our choice of words, decisions, and actions, and by acknowledging both the positive and negative (un)intended consequences of our behavior, we already begin to contribute to a sustainable future. The interviews have shown that despite its frequent use, impact carries a weight that often gets lost in translation. It is a simple term that can mean so much and so little at the same time. Therefore, it is important to use the term in context and to further explain (with substance) what lies behind the terminology. With this, we have the chance to avoid tossing around buzzwords and provide value to our words and actions.