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Drayton speaks in entrepreneurial series

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After graduating from Harvard University, Yale Law School and Balliol College in Oxford University, Bill Drayton worked a few years with consulting firm McKinsey & Co. before serving as assistant administrator of the Environmental Protection Agency under President Jimmy Carter.

Then he decided he wanted to upset the idea that change is impossible.

Drayton is now the chief executive officer of Ashoka, a global organization dedicated to supporting its 1,400 fellows as a venture capital fund for social innovation.

Known in business circles as the "father of social entrepreneurship," he is a pioneer in promoting the rise of the citizen sector.

Drayton spoke Thursday night as part of the Carolina Entrepreneurial Initiative Speaker Series.

His idea of entrepreneurship, however, is decidedly unconventional. Through Ashoka, he has brought about an entirely new type of "social entrepreneurs" who use business to remedy social problems across the world.

"(Ashoka is) interested in Florence Nightingale and not local tobacconists," Drayton said.

He founded Ashoka out of his desire to reunite the business and social sectors. He said the separation of the two is a "historical accident."

Although the business sector has been moving rapidly ahead of the social sector for centuries, Drayton said, he believes the social half is catching up as a viable opportunity for growth and productivity.

"In the last two and a half decades, the world's social path has become as entrepreneurial and competitive as business," he said.

Drayton said he sees the problems in this evolving sector as an opportunity for entrepreneurs. With this in mind, he encourages social investing as a way for entrepreneurs to truly affect change on a global scale.

"(Social entrepreneurship) upsets the idea that things are not going to change," he said.

Cheryl Dahle of Fast Company Magazine said Drayton is the reason the field of social entrepreneurship exists.

"Traveling into his mind will be like visiting a new galaxy," Dahle said.

Deb Parsons, a graduate student in business, said Drayton's speech validated the decision she made to return to business school.

"He showed that there really is a career path in the social sector where we can apply the skills we're learning for social good," Parsons said.

"He's a hero."

Contact the University Editor at udesk@unc.edu.

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