Let’s Talk About the Entrepreneurs Solving Some of Our Biggest Problems
What is impact entrepreneurship? Meet the startups solving some of the world’s biggest problems. Yes, with their business models.
While some companies try to reduce their impact on our climate or mitigate a negative impact on society — there are others who focus their entire business concept on solving the societal challenges of our time.
Yes, they do exist. I’m talking about impact entrepreneurs or impact startups. Where social or sustainable entrepreneurs can also be included. Fittingly, they have been described as the new black in business.
For an impact entrepreneur, the driving force and willingness to meet one or more of our global challenges is a fundamental part of the purpose. Well integrated into the business concept. But it is not “only” about making the world better, it also corresponds with great business opportunities.
In September 2015, UN member states adopted Agenda 2030. Including the 17 Global Goals for Sustainable Development (SDGs), which in turn includes 169 sub-goals and 230 global indicators. The Global Goals range from eliminating extreme poverty, reducing world inequalities and injustices to resolving the climate crisis.
According to the Business and Sustainable Development Commission, the Global Goals open up over $ 12 billion in market opportunities. And that only in the four areas investigated in the report: food and agriculture, cities, energy and materials, and health and well-being. In short, solving the world's biggest problems equals great business opportunities.
Impact entrepreneurs work to achieve the Global Goals with innovative solutions where sustainability and profit go hand in hand. Today we see new solutions in everything from digital health to sustainable transport systems, agriculture, sanitation, and education.
Countless examples are on the market in both Sweden and around the world; from Trine making it easy to invest in solar energy in growing markets and Planted with a new type of plant-based meat to Oxara which has developed a new type of earth concrete that is 2.5 times cheaper and 20 times more environmentally friendly than regular concrete.
Global initiatives such as Impact Hub and Norrsken Foundation provide support to impact entrepreneurs who want to establish themselves on the market. Many universities are also showing increasing interest among students, researchers, and entrepreneurs.
Technical solutions, both innovations and existing technologies applied in new ways, have great potential to contribute to the Global Goals — with solutions that are often scalable. By combining for-profit business models with passion and values, impact entrepreneurship can play an important role in solving the global challenges we face.
Common to the sector is a strong belief that the next generation business model is one where profit and positive impact on the environment and society go hand in hand.
So, does technology and impact entrepreneurship provide a solution to all the world’s problems? Hardly.
But the private sector undoubtedly plays a major role in the transition to a sustainable society. And even if this is a crisis we cannot consume ourselves out of, impact entrepreneurs and impact measurement can be instrumental concepts in its development.
