Oct 30, 2017 slush
If there was a simple solution to grand challenges, we would have implemented them by now. Instead, businesses should reinvent themselves and embrace new ways of experimentation, creative thinking, and collaboration to solve these global challenges. Luckily, we are not alone. People are waking up to the idea that you can combine ‘doing business’ with ‘doing good’.
We have seen a major shift in the perception of the role of business within our society. Entrepreneurs have realized that the revenue-generating side can and should go hand-in-hand with the philanthropic side. Companies that traditionally operated in the ‘for-profit sector’ are moving towards being more purposeful. Similarly, organizations that traditionally work in the ‘social sector’ are developing business models for profitability. The eyewear company Warby Parker is a great example of this movement, employing the ‘buy one, give one’ model’. Another example is Tony Chocolonely, a Dutch company that is striving to make chocolate 100% slave free worldwide.
It seems like this movement is here to stay, as it has also caught the attention of millennials. With millennial coming into adulthood, their interest in social and environmental preservation may further accelerate. The new generation has the aspiration to solve the world’s grand challenges. This requires a new mindset and businesses will need to consider how their mission and activities will align with the values of the up-and-coming.
Philanthropy, by itself, is not enough to solve all the world’s ‘wicked problems’. We have to use smart capital that combines financial returns with social returns. During the past decade, Impact Investing has emerged as a new breed of finance – one that focuses on mobilizing capital towards impactful initiatives and businesses. These investors believe in generating responsible return and supporting underserved communities within society.
There is still a long way to go before impact investing will be at the forefront of entrepreneurship and venture capital. Before we reach a “tipping point” we will require winning over not just those who want to believe in doing well by doing good, but also those who are still skeptical.
The question remains: how can this movement be sustainable and have a massive impact?
To bring the impact revolution towards the mainstream, we’ll need platforms that enable us to reach scale and improve efficiency. The purpose of Slush Global Impact Accelerator (GIA) is to support impact startups and showcase the exciting business opportunities in emerging markets. We aspire to join forces with the broader ecosystem to address complex challenges. Solving these problems requires forging partnerships that will inspire action, mobilize capital, and accelerate global impact.
Our hope is to bring together people that will lead the world to a better place. As it is time for our generation defining great works to emerge. We owe it to the world to create sustainable growth opportunities. This positive chain reaction can impact the lives of millions of people while supporting the state of the world!
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