Nowadays social entrepreneurship is recognized as a two-way process, addressingboth social and economic concerns that can bring social inclusion, equity, anddevelopment to disadvantaged groups in society. This aspect is particularlyimportant and desirable within emerging economies. In these markets, which areconstantly faced with profound economic and social challenges, we see thegrowing importance of social entrepreneurs as they take upon themselves theprovision of welfare services and progressive activities. However, ourunderstanding of the mechanisms underlying the creation of social and economicvalues in social enterprises, and the factors contributing to the establishmentof these value creation objectives, is still rather fragmented. Our articlecontributes to this gap in the literature by decoding the process via whichfor-profit social entrepreneurs from China and India create social and economicvalue. In addition, by combining a deductive and an inductive approach ofanalysis, we offer novel insights into the context-dependent processual patternsdeciphered within the two countries. A new entrepreneurial process frameworkthat reflects the contextualized social value creation process by socialentrepreneurs is thus provided.