Social Entrepreneurship (SE) has attracted a great deal of attention from both academics and practitioners around the world. However, less research focuses on SE in emerging and developing economies. The aim of this chapter is to conceptually analyze Social Entrepreneurship in developing and emerging countries. Based on a thematic review, this chapter explores patterns and trends in the literature. We undertake a thematic because it mainly interprets unstructured data, such as a literature review (i.e., SE models) through a qualitative and inductive methodology. Consequently, the chapter discusses existing literature and theoretical contributions in the field of SE in the context of emerging and developing countries. Indeed, for the most part, the existing literature lacks generalizability due to contextual distinctions between countries. With a focus on distinct institutional contexts, this study conceptually analyzes these differences and explains how diverse SE could lead to more inclusion around the world.