Want to change the world? Start with Social Tech!
AVPN member Tech For Good (T4G) is excited to announce that in Q1 2016 it will start a unique acceleration program in Singapore for early stage start-ups who use technology in innovative ways to tackle social issues.
Social-tech was developed from the understanding that technology can be a powerful tool in tackling social issues that society is facing. We are witnessing a worldwide trend of people, governments, companies and more investing time, efforts and resources in finding technological solutions to solve social problems.
T4G’s goal is to trigger more entrepreneurs to divert their skills to the social arena, and to assist those who are already active to fulfil their social and technological vision. We believe that just like in other cases, Singapore entrepreneurs have what it takes to come up with innovative social-tech ideas.
What can start-ups benefit from T4G accelerator?
T4G accelerator will provide the start-ups with relevant and practical guidance at their initial stage which is arguably the most challenging phase.
T4G is a four-month program, which will select 10 start-ups to provide:
– Office space
– Powerful mentoring
– Personalized & unmatched content
– Access to industry leaders
– Investors pitch events
– Media coverage throughout the program
Research shows that there is a significant increase in the rate of success for businesses if they start out in accelerators or incubators. Businesses that were nurtured in accelerators or have a success rate of 87% compared to the 44% success rate for companies that go alone.
In addition to the accelerator, T4G also aims to expand the social-tech community in Singapore. Throughout the program, T4G Singapore will hold various networking events and meet-ups, focused on exposing the start-ups to students, investors, corporates and other potential stake-holders.
T4G Singapore will continue to support the graduated startups and help them to grow and succeed.
What is Social-Tech all about?
Social-tech is about using technology in innovative ways to address social challenges.
Societies in Asia, as in other parts of the world, are facing new challenges, such as Aging population, child obesity, social and economic inequality and many others. Social-Tech is helping overcome those challenges by innovatively using technology to find new solutions.
Moreover, as these social challenges affect the lives of millions across the world, they present significant business opportunities. Hence, different entities have grown financial interests in addressing social problems. Insurance companies, healthcare organizations, government agencies, charities and even NGOs are involved in the multi-billion dollar social-tech industry.
Among those who have recognized the huge potential of the social-tech industry are investors that seek for social return for their investments (SROI) in addition to the typical financial ROI that social-tech startups offer. These are known as ‘impact investors’.
T4G aims to expand beyond Singapore to other countries in Southeast Asia, while maintaining Singapore as the regional headquarter and the main knowledge source.
The second phase plan is to open T4G in Indonesia and Thailand.
Read more in http://www.t4gsg.org/