The Rising of Social Impact in both General Economy and Entrepreneurship

November 28, 2020

Social entrepreneurs are the ones who are dedicated to tackling society-based issues such as civil rights, racism, poverty and many more. One of the main motivations behind solving social problems is making an impact for the community. In other words, all components of a society have their contributions to it, so all human beings can rise only if all members (including diversities) get benefit from such an improvement. 

Social impact as the “S” one of ESG (Environmental-Social-Governance) is the part of solving the problems in the world to make it sustainably liveable for the next generations. The main idea behind the ESG trend from the investor and employer perspective is the economy will achieve the prosperity status only by considering the well-being of employees and consumers (almost the society). It is reciprocated in both the financial and corporate realm. For example, one of the leading investment bank Goldman Sachs states that they will never invest in the firms with board consisting of just white and heterosexual males. Perhaps, you have seen many corporate officials promoting their vision and actions for sustainability. 

649 of articles & news of total 1460 contents about ESG Investment in Financial Times has been written in this year. Moreover, it is notable that ESG-related investment portfolio is overperformed (almost 100% more performance than an average-classical portfolio) between 2014 and the end of 2019. 

Taking about the trends in social entrepreneurship, the global social impact investment market now counts $715 billion according to the 2020 Annual Impact Investor Survey by Global Impact Investing Network whereas it did $502 billion at the end of 2018, which gives social impact a way to grow steadily and expand its acquisition. 

Sustainable Development Goals

Powered by UNDP, Sustainable Development Goals (SDG) are 17 goals aiming to transform the world. As these goals are not achievable only by the UN alone, but requires collaboration and partnership of government bodies, private sector, civil society and individuals. In this context, Hackquarters, designed Sustainable Growth Program, a 6-month startup accelerator powered by HSBC. 5 startups, selected out of 130 applicants, scaled their products, reshaped business models during pandemic, received 100+ hours of mentorship, and 75 hours of training & workshops in total. Here are the 5 startups accelerated in HSBC Sustainable Growth Program.

Mumo: Mumo invites people to a sustainable life with natural and long-lasting alternatives to single-use products. We remind the importance of bonding through our products and aim to create a nature friendly behavioral transformation

Mana: Mana, which means the super power arose from its roots, designs and produces environment-friendly & slowly processed products for women and houses with the women of these lands.

Ecording: Ecording aims to raise environmental awareness in individuals and develops new technologies to achieve that goal. Using EcoDrone that deliver airborne seed cannon shoots in hard-to-reach areas that need to be afforested

Composeit: Compose it produced a machine that will take advantage of your food wastes and transform them into a highly efficient soil and creating a new hobby.

Blindlook: BlindLook provides freedom for blind people in social life by making restaurants and restaurant menus accessible for them.

To visualize the increasing interest and scale for the social entrepreneurship in Turkey, Hackquarters team has coompiled a Map of Social Startups with companies categorized according to the goal they are contributing to. 

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