Tech Nation, set up by David Cameron’s government to empower ambitious tech entrepreneurs to grow faster through knowledge and connections and to build a UK economy fit for the next generation has issued its report on ‘Tech for Social Good.’

Social impact of disruptive technologies.

Around the world, there is growing concerns about the social impact of disruptive technologies.

In the UK the government has launched a £20m ‘GovTech Fund’ to help private-sector innovators address public-sector challenges. Such as finding a way to accurately identify still propaganda images produced by the extremist Islamist group Daesh.

Speaking ahead of a tech for social good roundtable due to be held today at Downing Street, Digital Secretary Jeremy Wright, said:

“I’m pleased to see the UK’s ‘tech for social good’ sector is not only having a positive societal impact but is also making a significant contribution to the economy.

“’We are working hard to support those in the field by improving charities’ digital skills, boosting access to finance for social tech ventures and backing an awards scheme to celebrate up-and-coming entrepreneurs. I look forward to meeting some of the sector’s leading minds today to discuss how we can make sure the UK is a global leader in this area.”

Gerard Grech, CEO of Tech Nation said: 

“This study provides a fascinating analysis of a fast-emerging sector within ‘tech’. These purpose and profit startups range from platforms such as fashion recycling platform Depop to surplus food distribution platform, Olio. We are witnessing a new driver in tech startups. While the profit motive remains high, millennials are increasingly driven by the desire to make a meaningful impact on society. Harnessing the huge potential of tech allows us to really think big. We can have both economic growth as well as positively impacting society and the environment.”

It’s not just about the money.

The not-for-profit segment of tech for social good is enjoying exponential growth: over half of the organisations currently registered with Companies House (53%) were incorporated after 2014, and 2017 was the highest year on record for registrations.

Meanwhile, the report emphasised the importance of social impact investors that value both social and financial return, such as Bethnal Green Ventures and Big Society Capital.

Read the full Tech for Social Good report >

 

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