Ritu Jha-
Discussing the Social Impact track at TiEcon 2022 that she chairs, Anu Jagadeesh describes it as being focused on addressing the need for more effort by the community.
According to her, “This is a technology conference, so whether it’s entrepreneurs or VCs it is about them looking at everything from the lens of an impact so that more solutions are created for the people at the bottom of the economic pyramid.”
TiE Silicon Valley, a non-profit founded in 1992 by entrepreneurs and executives of South Asian origin, is hosting TiEcon, the annual conference it hosts, and which will be held this year from May 5 through 7 in a virtual setting.
The Social Impact conference is on May 7. Besides, there are tracks on impact investing, and corporate social impact.
Jagadeesh, the founder of KonnectMe, told indica that the more people think about social impact solutions, the more they go beyond mere profit to purpose. This, she said, can be used to scale up the power of social work in areas such as health care, education, and technology.
Entrepreneur and philanthropist Gururaj Deshpande, president and chairman, Sparta Group LLC, will deliver the opening keynote address. Other keynote speakers will be Shubo Biswas, founder and CEO, GreenGood Labs; and Milind Tambe, director of the Center for Research in Computation and Society, Harvard University.
Jagadeesh said GreenGood Labs offers technology-based solutions specifically designed for rural communities around the world. She said the solutions are powered by AI and machine learning technologies on how to scale up work.
Tambe is on a panel on impact investors – people looking to invest money in socially relevant efforts.
Jagadeesh, who has hosted the TiEcon Social Impact track for quite some time, said it is focused on entrepreneurs who start companies with a purpose and are passionate about their cause.
“The focus here is we want a lot of entrepreneurs to be thinking about not just starting companies which make a lot of money but also think about the problem it’s solving and if it’s impacting the world in a positive way,” she said.
She added that there are a vast number of people at the bottom of the pyramid who do not have access to proper health care, education, and some basic necessities of life.
Asked about successful investments, Jagadeesh said, “There is a vast number of people who say they have funds. So there is a lot of interest in social impact investment, but the new generation wants to work on a “purpose.” When you say “impact,” it’s a little blurry [the term for them].”
But there are a few new companies that work on, say, making alternate proteins that could reduce the stress on the climate.
Consider Jayesh Parikh, who will be moderating a panel on impact investing. The managing partner at Good Startup, Parikh advocates and has invested in alternative protein companies that aims to remove animals from the food chain and focus on plant-based fare.
As Jagadeesh put it, “We do see a lot of things happening – like “agritech” – but it will take some time. I think it will take a few years to help the people at the bottom of the pyramid.”
Jagadeesh says the term “social impact” also includes the results of damage to the climate, and that there is a need for alternative meat.
The closing keynote for the social impact track is Michael Moe, founder and CEO, Global Silicon Valley. The firm has invested in companies such as Facebook, Twitter, Dropbox, Snap, Lyft, and Spotify. Its profile shows that GSV Ventures has a portfolio of dynamic companies, including Coursera, Course Hero, Photomath, Guild Education, Physicswallah and LEAD School. Moe is on the board of BookClub.com, a board observer at Class Dojo, and an advisor at Arizona State University.
Jagadeesh said Prateek Maheshwari and Alakh Pandey, the founders of Physics Wallah India, which addresses ed-tech enterprise, had come up with education solutions for people all the way to the bottom of the socioeconomic pyramid.
Highlighting the promise of the panel on corporate social impact, Jagadeesh said, “I think it would be interesting to listen to Shravan Goli, chief product officer, Coursera, on how, during the pandemic, they opened their courses up and did not charge any money.”
Another company, Coupa, supports small and medium-sized businesses, The attendees would get to learn from Donna Wilczek, SVP, product strategy, on how to use technology and help minorities.
“Basically these are different ways of showcasing big corporations: How they support minorities in the field through innovation and adopting new strategies for tackling issues such as poverty, healthcare, equality, financial inclusion, environment and education,” Jagadeesh said.
“Technology has come to the point it can be used in villages where there are not too many facilities,” she said.
