Not “Back for Good”, but “Tech for Good” is a segment that has recently experienced strong growth, according to a report by the BMW Foundation Herbert Quandt. According to the report Demand for technological innovations for climate protection is increasing, in particular. The COVID-19 pandemic is also a decisive factor: Overall, the report shows that the pandemic acts as either an obstacle or an accelerator, depending on the industry or segment. Solutions that support the management of the COVID-19 pandemic are particularly relevant at the moment.
In a European comparison, Germany ranks sixth in terms of the number of "Tech for Good" projects, behind the United Kingdom, Spain, Italy, France, and the Netherlands. A large proportion of the projects in the European Union address digital democracy (626 projects in the EU), education (546), or the health and care sector (400).
The future belongs to companies with positive impact
These figures could grow even further in the coming years. Antonio Miguel from Maze Impact in the report the growing importance of positive engagement:
"The great companies of the future will be those that profit from solving a social or environmental problem rather than creating it. Consumers won't want to buy from the latter, talent won't work for them, and investors won't invest in them."
Frank Niederländer, Member of the Board, BMW Foundation Herbert Quandt, continues:
"The BMW Foundation Herbert Quandt is convinced that the future belongs to companies that combine economic success and a positive impact through innovation. This is why we have launched the Respond Accelerator Program was created to identify and support precisely such responsible founders.”
Rethinking instead of greenwashing
Heba Aguib, Chief Executive Respond, BMW Foundation Herbert Quandt:
"It's encouraging to see that more and more companies are striving to make a positive contribution to the economy and society – with real impact and the intention to think outside the box, rather than "greenwashing." Entrepreneurs, in particular, have the courage and creativity to develop solutions for complex challenges and implement them entrepreneurially in order to address common societal challenges, develop digital innovations in a short time, and thus drive systemic change in the economic system. The report shows which innovative companies were part of the Respond program this year – and we look forward to supporting outstanding startups again next year."
