The Founders Pledge Social Impact Award: Could it be you?
Back for 2018, the Startups Awards has once again joined with Founders Pledge to celebrate new businesses tackling social and economic challenges
Why have we got The Founders Pledge Social Impact Award?
Business and technology has the potential to address some of the world’s most pressing challenges, but it requires a rethink of how we define the purpose of business.
Today, the businesses that truly make a splash are the ones that don’t merely focus on maximising profits, but also contribute to a more sustainable and fair society overall.
The drive for businesses to take environmental and social consideration is also supported by data proving that ethical and sustainable products have a true advantage amongst a whole generation of consumers.
According to research, three-fourths of millennials are willing to pay more for sustainable products, and another 91% will switch brands to benefit a cause they believe in.
Returning for its second year, the Founders Pledge-backed Social Impact Award celebrates those businesses that are having a meaningful impact beyond profit.
Established by David Goldberg, Founders Pledge is a non-profit encouraging entrepreneurs to donate a portion of personal proceeds to charity after they exit their business, and helping the community identify the most impactful donation opportunities within the causes they care about.
What are we looking for in a business with social impact?
We’re looking for companies tackling social or environmental challenges with effective and scalable solutions, either directly (through their business model) or indirectly (through business practices and social responsibility).
You don’t necessarily have to be the most profitable business today, but we want to hear from inspiring and sustainable businesses that have the potential to make a greater social impact as they grow.
Special consideration will be given to companies that show a true commitment, and have plans for how they will track and evaluate their social impact.Last year’s winner was Bulb – the high-growth energy startup making renewable energy affordable, accessible and desirable to the masses.
To compete for the Social Impact Award, your business’ revenue growth, profitability, and major client wins will, of course, also be taken into account. Your business must also be independently owned, have started trading no earlier than 1 August 2014 and no later than 31 July 2017, and be UK-founded and UK-based.
Why should you enter The Founders Pledge Social Impact Award?
As a socially committed company, your success is everyone’s success.
Entering the Startups Awards enables you to validate your business with major endorsement from awards judges such as Alex Chesterman of Zoopla – the property site which raised £16.3m VC investment before listing on the stock exchange – and Balderton Capital partner, Rob Moffat.
See the full Startups Awards 2018 judging panel here.
What’s more, several Startups Awards winners – across various categories – have told us that their win got them noticed by investors; therefore the Startups Awards could also help you to source additional start-up funding by putting your business on the radar of other high-profile investors in the space.
Alongside industry recognition, investor attention and national and local press coverage, winners and finalists will also receive a template press release to maximise media coverage, and a logo to use on marketing content. Winner video interviews will also be displayed on the Startups Awards website.
David Goldberg, founder and CEO of Founders Pledge (Impact Awards partner), commented:
“The start-up zeitgeist is changing.
“It’s no longer enough for companies to take on a CSR initiative at a late stage; in order to attract and keep top talent, secure funding from the best investors, and appeal to a growing population of socially concerned consumers, start-ups have to build purpose into their companies from day one.
“We are incredibly excited to see all the fantastic impact driven initiatives coming out of the UK start-up scene at the moment, and grateful that the Startups Awards are supporting this growing trend by giving it a spotlight.”
If you think your business has what it takes, enter here before entries close on Friday 21 September.