A new Social Impact Award in Deloitte Technology Fast 50 CE
Companies with a positive impact on society and/or environment may not only experience as fast development as other businesses, but also use technology to solve social problems on a global scale.
Warsaw, 18 July 2018
The development of innovations is a priority for tech companies. Among their motives is the search for solutions which support the objectives of sustainable development. Companies offering products with a positive impact on the society and environment may apply for the Social Impact Award in Deloitte’s 19th Technology Fast 50 in Central Europe which recognised the fastest growing technology companies.
This year’s addition to the programme is the Social Impact award for companies and organisations which link their business success with a positive impact of their products or services on the society and environment, thus contributing to the achievement of at least one of the Sustainable Development Goals 2030 of United Nations.
It is estimated that by 2030 the global population will reach 8.5 billion. The world faces the challenge of ensuring an adequate quality of life, access to education or medical assistance and aligning it with the protection of natural resources. For the sustainable development goals to be reached everyone needs to do their part: governments, civil organisations, academics and businesses.
Products supporting the sustainable development goals are estimated to offer at least 12 trillion dollars in market opportunities. New technologies contribute to the achievement of social goals by providing access to information and services via digital means, developing cooperation networks and effective management of resources.
We have been seeing a rapid growth of start-ups in the world in such areas as:
- agriculture and food industry (for example, biotech businesses which manufacture biodegradable packaging materials or developing technology to reduce food waste);
- sustainable growth of cities (for example, companies developing solutions for electromobility, smart metering, technologies supporting the adaptation to climatic changes);
- energy and resources (for example, companies offering air pollution technology, solutions for circular economy, renewable energy, energy efficiency and water extraction and treatment);
- health (for example, biotech businesses, companies offering smart clothing, health applications, telemedicine or processing big data);
- education (for examples, companies offering e-learning platforms and applications).
The companies which develop such products show that it is possible to make profit and innovate and at the same time pursue a social mission. They focus on searching new products which will have a positive impact on the society and the environment and be appealing to customers, investors and communities. This may also inspire very large businesses which may see corporate social responsibility in a new light, says Paulina Kaczmarek Manager at Deloitte’s Sustainable Development Team in Poland and Central Europe.
It is worth adding that the growth of tech businesses is driven by increasing regulation. For example, the European Commission has issued a series of documents which promote circular economy, starting with packaging materials and plastics. It is assumed that in 2030 as much as 70 percent of all packaging waste should be recycled. This way the new regulation will support the growth of companies which offer innovative recycling technologies or use recyclates (secondary raw materials).
Tech businesses which attach considerable weight to the positive impact on the society may be more attractive to investors which increasingly often make their decisions considering not only costs or profits but also the benefits to the society and the environment. It is estimated that in 2015 the value of socially responsible investments in Europe reached nearly 150 billion euro. Furthermore, Deloitte’s analyses reveal that tech businesses wit a positive social impact may be more appealing to the biggest talents.
To take part in the programme, please complete the application in English. Online applications must be submitted by 31 July 2018. Winners will be announced on 11 October.
To apply, please go to FAST50 CE. The website also gives information about the categories and criteria and the key figures regarding the previous edition.
Sustainable development has been our focus for years. We have been monitoring carefully the growth of technology firms, which successfully offer products and services that solve both social and environmental issues. The challenges involved in providing access to education, low emission transport, food waste and the quality of air make room for innovation which will prove a commercial success and contribute to the achievement of UN’s Sustainable Development Goals, says Irena Pichola, Leader of Deloitte’s Sustainable Development Team in Poland and Central Europe. The key idea behind the Fast50 competition is to recognise the fastest-growing and innovative Central European businesses which are not only successful but also have a positive impact on the world around us. I do encourage businesses to join our programme and compete for the Social Impact Award, she adds.
The Social Impact Award is partnered by Ashoka. Innovators for the public. The mission of Ashoka is to strengthen individuals so that they contribute to the solution of social problems. I am happy that Deloitte decided to add a new category to Fast 50. We see that organisations with a positive social impact experience as fast growth as other businesses and solve social problems on a global scale, says Marie Ringler, Ashoka’s Europe Leader and Central & Eastern Europe Managing Director. We are happy to be the partner of the award and share the knowledge and experience of our global network of social innovators, she adds.
About Fast 50:
Deloitte Technology Fast 50 Central Europe recognises the fastest growing technology companies based on the revenue growth. It comprises the main Technology Fast 50 category as well as two special categories: Rising Stars and Big 5. Its objective is to draw attention to the fastest growing technology companies in Central Europe.
To be eligible companies and organisations must be headquartered in one of the Central European countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia), meet the criteria set out at Deloitte’s website and complete the application form in English. Online applications must be submitted by 31 July 2018. The winners will be announced on 11 October 2018.