The Swiss start-up Sosense accelerates its expansion
Sosense secures additional capital and converts its legal form from an association into a (social business) corporation. The Frey Charitable Foundation (FCF), established by Tatjana Frey und Rainer-Marc Frey, invests in the Swiss start-up, Sosense, and provides basic funding for the organisation for the coming three years. To this end, a corporation based on the social business concept, has been founded.
“We believe in the potential of social entrepreneurship and would like to emphasize this with our engagement in Sosense”, says Tatjana Frey, Chair of the Frey Charitable Foundation.
The legal form of a corporation based on the social business concept has been intentionally chosen over a foundation.
“In a dynamic market, a corporation as a social business has immense advantages over a foundation in terms of flexibility. Furthermore, this underscores our entrepreneurial thinking”, says Patrik Elsa, CEO of the newly founded corporation.
Since its inception in 2010, Sosense has been able to gain the support of leading organisations including PwC, Credit Suisse, the Commission for Technology and Innovation (KTI-CTI), the UBS Foundation for Social Issues and Education, and the Avina Foundation of Stephan Schmidheiny.