Business Week's Most Promising Social EntrepreneursBy Heidi Hartman on April 21, 2009 - 3:21pm
Renewal friends' Gary Hirshberg of Stonyfield Farm and Peter Strugatz and Miranda Maganini of IceStone are featured in Business Week's online edition, America's Most Promising Social Entrepreneurs. Check out Renewal friend's below.
Business Week's Most Promising Social Entrepreneurs
In January, Business Week asked readers and a few members of the social enterprise community to nominate candidates whose trailblazing companies, in operation for at least a year, aimed to turn a profit while tackling social ills. After the call for nominations ended on Feb. 20, their staff sifted through more than 200 and narrowed the impressive group down to a final 25. Click here to read profiles of the finalists. At the end of the slide show, you can vote for the business you feel holds the most promise, from now until Apr. 26. They will announce the top five vote-getters on May 2.
Call it the little yogurt company that could. Twenty six years ago, Hirshberg, then an environmental activist and aspiring entrepreneur, set out to demonstrate that business could be both profitable and sustainable. Last year, Stonyfield earned more than $300 million in sales and controlled about 7% of the total U.S. yogurt market. Click here to read more.
Miranda Magagnini and Peter Strugatz
After years of investing in companies with social missions such as Zipcar and Stonyfield Farms, Strugatz and Magagnini wanted to go into business for themselves. Strugatz had run his family sculpture reproduction company, and Magagnini had run her own marketing firm after getting an MBA at Harvard. The pair had met through Investors' Circle and Social Venture Network in 1995. In 2003, while scoping the Brooklyn Navy Yard for business opportunities, they noticed an eviction notice on the door of a glass recycling company that was $5 million in debt and was being auctioned off. Click here to read more.