As societies increasingly face societal and ecological grand challenges, entrepreneurs are urged to contribute to socially and ecologically sustainable futures—that is, engage in impact entrepreneurship. An impact-oriented approach strives for entrepreneurial ventures to not only generate profit but also drive positive societal change, maintaining and protecting existing beneficial conditions, or reducing ongoing societal and ecological harms. The notion of impact in entrepreneurship therefore emphasizes the critical need to understand and evaluate business activities beyond financial outcomes, considering their broader social, ecological, and economic effects. Understanding and advancing the meaning and implications of impact entrepreneurship is crucial, since it requires rethinking the role of entrepreneurs in society—positioning them as agents of systemic change who align profit with considerations and actions of broader social and ecological purpose. This curated discussion develops two key avenues to advance scholarship on and practice of impact entrepreneurship.
