Starting a business is a risky undertaking. You need money, a product or service people want and away to deliver that product or service that keeps some of that money in your pocket. For social entrepreneurs, the stakes are even higher: their goal is to do something good while making money.
Tom Szaky of TerraCycle is quite clear: “I want to make a lot money doing good.” And he just may do it. TerraCycle has been based in the U.S. for 13 years, but Szaky and his family fled communist Hungary when he was very young. The ended up first in Holland, then Canada, then the U.S. One thing that struck young Szaky and his father was the amount of “good stuff” people threw out:
In Hungary back then, you needed a licence for a TV set,” he explains.
You couldn’t just go and buy one. Instead, after applying for a licence maybe a year later you’d get a black and white TV, and you’d get the one state channel.
Tom says: “Only a few years later we end up in Canada where every Friday my dad and I would drive round and see mountains of TVs thrown out of every apartment buildings. (more…)