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

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 importan…