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How can social impact startups influence global change?

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The Next Web or enjoy below

🗞️ Driving the news: The OPPO Research Institute has launched the "Inspiration Challenge", a strategic initiative designed to foster innovation and empower tech entrepreneurs to address pressing global challenges
• This platform offers a convergence of creativity and industry expertise, allowing startups to refine and scale their groundbreaking ideas for the greater good

🔭 The context: Social impact startups often struggle with challenges ranging from funding to market access
• By forging alliances with esteemed global brands, these ventures can tap into a reservoir of expertise, resources, and visibility
• Programs like accelerator initiatives or startup competitions present a golden opportunity for these startups to harness mentorship, development tools, and a broader network

🌍 Why it matters for the planet: As climate change intensifies, novel ideas are essential for addressing the associated challenges
• Startups like Bluepha are developing sustainable alternatives to plastic, aligning with global sustainability targets, such as OPPO’s 2050 carbon neutrality goal

⏭️ What's next: As the challenge advances, it zeroes in on two pivotal themes: 'Inspiration for People' and 'Inspiration for the Planet'
• With the evaluation criteria being Feasibility, Technological Innovation, Long-term Potential, and Social Values, the next phase will witness the participating startups vying for the top spot

💬 One quote: “The challenge gives us an opportunity to demonstrate our innovation, as well as attract partners and investors who are particularly interested in startups addressing social development goals,” (Firouza Eshonova, CEO of EZspeech)

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