We’ve launched a series on how to start a tech for good business with our friends at Tech Nation.If the BGV team had to pick one frequently asked question, it would be “Why tech for good?”. For those of you who might be curious, the closest contender is whether we’re based in Bethnal Green, which we were a decade ago.The idea of businesses having a positive societal impact is rapidly gaining traction. And no wonder with our global challenges becoming more evident and less deniable even for the staunchest non-believer. COVID-19 pandemic is highlighting socioeconomic rifts while equality, diversity and inclusion initiatives are getting stronger. The climate crisis is no longer coming but is already here. There is not one country on track to achieve the UN Sustainable Development Goals by 2030 deadline.It is painfully obvious that ‘business as usual’ is no more. The next generation of entrepreneurs want to use their skills to do stuff that matters. But where to start? This is where tech for good comes in. The global challenges are all areas of massive human need, coupled with large, high growth commercial markets and relatively low exploitation of digital technology. Tech enables rapid growth, global scale and declining unit costs, increasing inclusivity, access and affordability. Tech for good startups, therefore, can contribute to solving global challenges while positively impacting millions of lives.At BGV, we believe in being transparent, sharing our learnings and supporting fledgeling entrepreneurs and the tech for good movement. This is why we are delighted to work with Tech Nation, who are supported by EY for this piece of work, to develop a public resource for current or future entrepreneurs looking to start tech for good businesses.As part of Digital Business Academy, a free resource for entrepreneurs on digital skills, we produced a video course, featuring my colleagues, tech for good founders and others that work within the wider impact entrepreneurship ecosystem. Across six videos, you will get introductions to:
- What is tech for good,
- How to build a tech for good startup,
- How to build a business model with impact,
- How to measure and communicate your impact,
- How to fundraise for tech for good and,
- How to invest in tech for good.
There is a global shift taking place in the way we consume things. Increasingly people are values aligned, driven by a purpose for improving society and want this reflected in their products and services. There’s also a massive global increase in the number of investors wanting to put their money to use for tech for good. In short, doing good and doing well are not mutually exclusive.We are very excited with the idea of people from all walks of life understanding how tech for good and venture capital work together. I hope the hard work of our brilliant portfolio founders and my colleagues will inspire them to consider their own entrepreneurial ambitions and even start building solutions to our global challenges.To access the full course, please visit the Digital Business Academy, where you will be asked to create a free account.