Effects of the Orange Economy on Social Entrepreneurship in the City of Medellin

The orange economy, according to the Ministry of Culture, is a tool for social development that integrates the arts, cultural heritage (tangible and intangible), cultural industries, and functional creations toward the social enterprise. It arises as a mandatory bet for the State (which could not take advantage of the oil bonanza of past years to diversify its sources of income) to be able to depend on other items other than taxes to finance itself. The big bet then is to move from dependence on mineral resources of the State (oil, coal, etc.) to depend on the fruits of the exploitation of talent, the revitalization of our cultural heritage, and new technological creations based on social for-benefit organizations. The objective was to identify the effects of the orange economy on social entrepreneurship based on the fourth sector. The research was an in-depth panel interview with three managers who created companies during the last decade focused on social entrepreneurship with an emphasis on technology. The effects of social enterprise function show that passion, simple solutions, optimism, philanthropy, global vision, and the generation of will are the consequences of the orange economy philosophy in the fourth sector. In conclusion, the orange economy within the social innovation based on the fourth sector integrates actions into their business model to create positive impacts on society and the environment. The limits of the study were the effect in the interviews because interviews were done over smartphones on account of COVID-19 and the achievement of the managers concerning the topic of orange economy.