Iris+

Definition

Iris+ is a platform designed to support social entrepreneurship by providing tools and resources for entrepreneurs who aim to generate positive social and environmental impact alongside financial returns. This innovative platform connects social enterprises with investors, resources, and a community focused on addressing societal challenges while fostering sustainable business practices.

5 Must Know Facts For Your Next Test

1. Iris+ is developed by the Global Impact Investing Network (GIIN) to enhance the effectiveness of impact investing.
2. The platform helps entrepreneurs track and report their social and environmental performance using standardized metrics.
3. Iris+ provides a framework for assessing impact that aligns with the United Nations Sustainable Development Goals (SDGs).
4. Investors can use Iris+ to identify potential investments that match their values and impact objectives.
5. The platform encourages collaboration among stakeholders in the social entrepreneurship ecosystem, promoting shared learning and best practices.

Review Questions

• How does Iris+ facilitate the growth of social enterprises in today's economy?
  • Iris+ plays a crucial role in fostering the growth of social enterprises by providing them with the necessary tools to measure and communicate their impact effectively. By connecting these businesses with impact investors, Iris+ ensures that entrepreneurs can secure funding while demonstrating their commitment to creating positive change. This connection helps attract more resources towards social ventures, ultimately contributing to a more sustainable economy.
• In what ways does Iris+ align with the principles of impact investing and support sustainable business practices?
  • Iris+ aligns with impact investing by offering a structured approach to measuring social and environmental performance, which is critical for investors looking for both financial returns and positive societal outcomes. The platform’s standardized metrics help ensure transparency and accountability, making it easier for investors to evaluate potential investments. By supporting businesses that prioritize sustainability, Iris+ encourages the growth of socially responsible practices across various sectors.
• Evaluate the implications of using standardized metrics provided by Iris+ for measuring impact in social entrepreneurship.
  • The use of standardized metrics by Iris+ has significant implications for measuring impact in social entrepreneurship. By creating a common framework for assessment, it promotes consistency and comparability across different enterprises, allowing stakeholders to make informed decisions based on reliable data. This standardization not only enhances credibility for social enterprises but also helps drive investment towards businesses that demonstrate measurable outcomes. Furthermore, it fosters an environment of accountability where enterprises are encouraged to continuously improve their impact strategies.

Related terms

Social Enterprise: A business model that aims to solve social, cultural, or environmental issues while generating profit.

Impact Investing: Investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return.

Triple Bottom Line: An accounting framework that incorporates three dimensions of performance: social, environmental, and financial.