What is Hybrid Social Venture

In the abundant literature on social entrepreneurship, little attention is paid to the creation process of hybrid social ventures, beyond the assumptions that they are originated by market failures and are born to alleviate a social problem. Using a qualitative approach based on semi-structured interviews, the authors derive a process model explaining the creation of hybrid social ventures through effectuation and bricolage. They show that these decision-making tools may play a role in the creation process and that the new venture may have the defining characteristics of opportunity creation. They conclude that for a new venture to be created as a hybrid firm, a dual mission-goal with a social problem as the trigger and a financial goal to ensure sustainability are required.