The Entrepreneur‘s Pledge is a commitment by sustainable thinking entrepreneurs to dedicate their entrepreneurial gift to found at least one business that will have a positive impact on environmental and social challenges and re-invest 50% of the profits to further its cause.
/// Frequently Asked Questions
What is the Entrepreneur’s Pledge?
The Entrepreneur’s Pledge is an initiative inspired by the Giving Pledge, which was started by Bill Gates & Warren Buffet. The Giving Pledge is a wonderful initiative by the world’s wealthiest individuals to dedicate the majority of their wealth to philanthropy. However, we believe that Entrepreneurs are the most likely to achieve the highest impact with the most Return on Investment (ROI). Combining both pledges will result in the best possible outcome for the world.
Who can pledge?
Every entrepreneur with a proven track record of starting a company with at least $ 1 Mio. in revenues or min. 10 employees. Further every new pledger must be recommended by 2 existing pledgers.
Why only Entrepreneurs and not corporations?
Entrepreneurs are not bound by rigid structures with the single goal of optimizing shareholder value. Entrepreneurs have the power to change the unsustainable development of the economy by applying entrepreneurial gifts such as creativity.
Why a pledge?
We are creating a movement. Many Entrepreneurs want to make a positive impact in the world and choose the pledge to join other like-minded individuals to create global change. By giving your voice a platform, a new form of conversation and discussion is triggered, lessons learned can be exchanged and more Entrepreneurs will be encouraged to follow suit.
How does the Entrepreneur’s Pledge work?
Each Entrepreneur who chooses to sign the pledge will be featured on the website and get updates about new social start-up ideas, successes and lessons learned. Stories can be exchanged individually or in specific groups, and all pledgers commit themselves to support fellow pledgers who decided to start a new social venture. Connections to philanthropists and social investors will be established to facilitate the best match for maximum Social Impact ROI.
What kind of companies will be started by the pledgers?
The pledge has no restrictions on the industry or local origins. The goal is to improve the conditions of all stakeholders including the environment for a certain product or service. To establish and underline a sustainable approach, 50% of the profits (only, once the company is profitable) will be reinvested into the desired area of impact.
Once someone pledges, how will you make sure they follow through?
The pledge is a moral commitment, not a legal contract. Every Entrepreneur will be judged by his or her children and grandchildren googling and finding a status on the Entrepreneur’s Pledge website.
How did the idea come about?
Talking about the current economic development with Entrepreneurs revealed that many were not happy either with the state of the effect of business socially and environmentally. Many successful Entrepreneurs are hesitate starting a sustainable and social business due to the fear of not being taken seriously and not being able to attract funding to scale their business. The Giving Pledge initiative alone is providing funding worth several hundreds of billion dollars; money doesn’t seem to be the biggest problem. Attracting those that are able to spend it fruitfully is the key.
How long will the pledge last?
No exit, sorry.