Page 5 - INNO4CHANGE_WP3_M3_Self-study session_EN

IDENTIFYING MARKET GAPS

Many successful social businesses started and took over by responding to an existing

gap in the social economy.

A market gap is exactly a response, product or service that customers are demanding

but certain businesses are not responding to it. For the social economy, this relates with

addressing a given societal challenge or need.

Theodore visited his grandmother every week at her nursing home. She loved being

there, but she felt her life was not as proactive anymore. At this point, Theodore, as IT

developer, decided to create a mobile application (app) specifically designed to help his

grandmother find local events, classes, hang out places for people her age.

In his want to help her, Theodore came across an idea that could result into a business

focused on helping other senior citizens like his grandmother.