Can tech for good be as profitable as plain old tech?

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Can tech for good be as profitable as plain old tech?
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This is the reason more investors than ever before are becoming interested in ‘tech for good’: it’s not just trendy or positive for their brand — there’s also a business case for it.
“The European ‘tech for good’ ecosystem is ahead of the curve,” says Nicolas Brien, who heads France Digitale, an industry group which represents 1,500 startups in France and Europe.
“We’re looking for business models where impact is baked into what the proposition is, but also the commercial and social value that business creates,” says Melanie Hayes, managing partner at BGV.
Sofia Hmich, founding partner at London and Paris-based venture capital firm Future Positive Capital, also believes that startups tackling the world’s biggest problems — think climate change and cancer — have the potential to have an enormous impact and make massive profits.
France-based growth equity firm Gaia Capital Partners isn’t an impact fund but it is trying to tie variables like environmental impact, but also governance, hiring practices and job creations back into its valuation models.
“We want 100% of the startups in our growth portfolio to have responsible practices — that’s just as important as the business model of these companies,” says Elina Berrebi, founding partner at the firm.
Like many tech for good investors, BGV uses the UN Sustainable Development Goals as a framework to assess and measure impact across its portfolio.
“Customers are demanding that companies think about social and environmental impact.”
Atomico, one of Europe’s largest early-stage venture capital funds, argues because “customers are demanding that companies think about social and environmental impact” and “talent — the most important ingredient of successful tech companies — is also asking companies to be more thoughtful” there is a growing business case for tech for good.
Socially responsible startups aren’t going away anytime soon — nor are tech for good businesses

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