It is not unusual to hear of billionaire tech leaders like Bill Gates or Mark Zuckerberg to promote and give to philanthropic causes but what is unusual is to hear about startups that base their plan around philanthropic activities along with whatever service or product they are marketing. The new startups have the opportunity to create not only successful businesses but also charitable contributions that grow with their company.
According to one study around 85% of the general public thinks that corporations should give back to causes be it environmental, or social issues the general consensus is that businesses have an obligation to give back. Consumers spend their money with these companies and want to know that their money is being used to better the communities they live in or the world as a whole.
So how do you combine your product, brand, or service with a philanthropic cause? There are many models to choose from such as simply choosing a charity or starting your own to contribute to on an annual basis. Another is to follow the example some online companies such as Ebay that ask buyers and sellers if they would like to add on by contributing to various charities. The possibilities for giving back really lie in the soul of the startup and the creativity of those hoping to give back from the beginning and carry it through throughout the life of the company.
For many startups angel investors were more likely to invest if they knew those partnering to start the company were attached to a philanthropic cause that they felt strongly about. The buy in had to do with the passion for the innovation or service as well as the strong need to help and give back. To link up with potential investors or learn more about philanthropy and startups bring your innovation to The iFestival.