Using Entrepreneurship and Social Innovation to Mitigate Wealth Inequality

Chapter 5 An Example from New York City: Competition THRIVE

The case study that follows provides one example of how wealth inequality can be addressed through entrepreneurship.2 It tells the story of a collaborative effort by city government, a private foundation and a public institution of higher education to encourage business creation by immigrants living in New York City’s economically disadvantaged neighborhoods. The interesting twist to this story is that the program described is aimed at building the capability and capacity of the social entrepreneurs who help the immigrant entrepreneurs in these neighborhoods to build wealth for themselves and their communities.

From 2011 to 2014, under sponsorship from the New York City Economic Development ...