We've wrapped up a successful #ImpactFest, organized by CIVIC during Startupfest and generously sponsored by BDC. This event brought together impact investors and entrepreneurs to explore strategies for driving positive change through investments and innovations.
We're thankful for the overwhelming response — we had a full house! As one attendee put it: "This year, ImpactFest closes the festival, but in a few years, it will kick it off!"
For those who missed the sessions, please find below key highlights our team has regrouped.
Key Insights for Impact Investors & Entrepreneurs:
● Systems Thinking: Panelists emphasized understanding the interconnected nature of societal systems helps impact entrepreneurs design solutions that address complex societal challenges effectively and for impact entrepreneurs to better support their portfolio companies in scaling their impact. This perspective is crucial for creating meaningful and sustainable impact.
● Measurement and Impact: There was a critical assessment of current impact measurement practices, highlighting the need for metrics that lead to real systemic changes in social and environmental outcomes. Institutions like the Global Impact Investing Network (GIIN) and the Impact Management Project (IMP) were referenced. Entrepreneurs were encouraged to adopt impact measurement practices even if they are not perfect as early as possible to attract the right types of partners, employees and ultimately investors.
● Governance: It was repeatedly stated that ideally an impact plan and targets should be tracked at the board and treated as important as financial results.
● All levels of Impact Solutions are Needed: Speakers advocated entrepreneurs to build innovations across all the impact spectrum from Responsible, Sustainable, and to Impact-driven investments. This inclusive strategy is the only way we will attain the set Sustainable Development Goals (SDGs).
● Practical Strategies: Investors discussed achieving financial returns alongside societal impact, emphasizing scalability, impact screening, sustainable business models, and team diversity. Scientific validation was underscored as essential for funding decisions
● Lead with Purpose: Purpose-driven entrepreneurs are vital for building sustainable companies because they prioritize long-term impact over short-term gains. Their commitment to sustainability drives innovation, promotes responsible resource use, higher employee engagement and fosters resilience in business practices. Impact investors are looking for purpose led founders.
In conclusion, we agreed that impact investing offers substantial financial returns alongside significant societal benefits, provided investments are strategically aligned, rigorously evaluated, and contribute to systemic change.
Moving forward: Join us in shaping the future of #impactinvesting and #entrepreneurship. Follow us on LinkedIn to know more about the impact investing events coming up.