Social Impact Startups You Need to Know About!
By Grace Chen
Trapped at home as you scroll through the story after story of police brutality, record high cases of Coronavirus, and political turmoil, it has become easier than ever to fall into the black hole of disillusionment. But do not give up hope quite yet, because there are a good handful of purpose before profit startups tackling what our political system seems like it cannot: difficult problems in housing, education, health, and sustainability.
These emerging impact startups cannot continue to be ignored by investors. Millennials, who by 2020 will make up 40% of the global consumer population, care about business social impact. According to Deloitte Millennial Survey, three fourths of respondents stated that the Coronavirus outbreak instilled in them a stronger sense of social responsibility and that businesses should aim to “improve society.” Global social good investments have also been extremely profitable. Global SRI grew 250% from 2012 to 2018, reaching $30.7 trillion.
I have put together this list to encourage more capital into this promising sector, which is facing difficulties scaling in the U.S. due to the lack of investment.
Flocabulary: Using hip hop videos and other creative tools to help educators cater to the needs of students who learn better unconventionally and to make academically rigorous curriculum more engaging.
JustFix: Addressing the NYC housing displacement and negligence crisis by supporting tenants and organizers to properly demand repairs and defend their housing rights.
Encounter Telepsychiatry: A Nebraska telemedicine platform aiming to improve access to mental health care in underserved/ rural communities.
CoPower: A platform that allows investors to easily invest in green bonds that offer steady returns and have high social and environmental impact.
DreamxAmerica: Connecting filmmakers to immigrant entrepreneurs to highlight and support their visions of impact on their towns in the US.
Ignite Mental Health: Uniting mental health policymakers and voices to achieve mental health literacy across all grade levels (k-12, high school, college)