Social Innovation Lessons from Microangels? An Institutional Entrepreneurship Case Study of the CIGALES Movement in France

43 Pages Posted: 1 Apr 2012

See all articles by Arvind Ashta

Arvind Ashta

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté

Gloria Estapé-Dubreuil

Autonomous University of Barcelona - Department of Business Economics

Jean-Pierre Hedou

Independent

Stephan Bourcieu

Université de Bourgogne - Management Department

Date Written: March 30, 2012

Abstract

One way by which microentrepreneurs can increase their ability to take debt is to take equity alongside, thus respecting prudent ratios and reducing stress. But microequity has not developed in most of the developing world. At the same time, since 1983, microequity has been started in France through a socially innovative movement known as CIGALES. Today, there are over a hundred CIGALES clubs. How have these multiplied and why hasn't the movement grown faster and more global? We look at the development of the CIGALES movement from an Institutional lens. Based on fifteen semi-structured interviews, we trace the creation and expansion of the movement and see internal blockages are as important as the external institutional cage (including norms and beliefs) that limited it. We focus on institutional entrepreneurial work undertaken to spread and maintain the movement of microangel clubs rather than actions and projects financed by each individual club. We find that catalytic innovation not only requires the institutional entrepreneur to collaborate with other complementary institutions but also to create such institutions. Since poverty eradication is going to require a series of social innovations and their diffusion, this paper could be useful for future development efforts.

Keywords: institutional entrepreneur, venture capital, business angels, catalytic innovation, disruptive innovation, micro-angel, micro-equity, microfinance

JEL Classification: B25, D71, E11, G24, L31, M13, O16, O17

Suggested Citation

Ashta, Arvind and Estapé-Dubreuil, Gloria and Hedou, Jean-Pierre and Bourcieu, Stephan, Social Innovation Lessons from Microangels? An Institutional Entrepreneurship Case Study of the CIGALES Movement in France (March 30, 2012). Available at SSRN: https://ssrn.com/abstract=2031732 or http://dx.doi.org/10.2139/ssrn.2031732

Arvind Ashta (Contact Author)

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté ( email )

29 rue Sambin
21000 Dijon
France

Gloria Estapé-Dubreuil

Autonomous University of Barcelona - Department of Business Economics ( email )

Edifici B - Campus de la UAB
Bellaterra (Cerdanyola del Vallès)
Barcelona, Barcelona 08193
Spain

Jean-Pierre Hedou

Independent ( email )

No Address Available

Stephan Bourcieu

Université de Bourgogne - Management Department ( email )

29 rue Sambin
21006 Dijon
France

HOME PAGE: http://www.escdijon.eu

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