Ryan Scott from Forbes Magazine recently attended the SOCAP15, a conference that works to raise awareness and funds towards great social causes. Attendees which include investors, government representatives, social entrepreneurs, world-renowned innovators, and more come together each year from far and wide to discuss how to create a better world. Scott notes that the conference is quite inspirational, filling you with a sense of hope that we can truly change the world for the better.
He explains that the Silicon Valley community is primed to lead the charge in merging corporate interests and the social good. However, one in five residents in the San Francisco area lives in poverty. This situation has inspired some of the planet’s best and brightest minds to collaborate to create a suite of tools that will hopefully serve as a remedy to this and other issues.
The equity pledge is one of these philanthropic concepts that is gaining the most traction. Rob Joyce from the Full Circle Fund recently helped launch Founders Pledge. This program enables start-up companies to incorporate giving into their company culture. Additionally, the program allows the participating companies to become part of the Pledge 1% community, an international movement that makes the world community an active stakeholder in the business.
When you first found a company, your time and resources are quite limited. However, you need to make an effort to embed giving back in your company’s DNA in its early stages. In addition to giving back, you should have systems in place that allow you to keep track of how you are donating your resources. As a small company, you may not have the luxury to have an employee manage your charitable efforts. Join CauseCast or a similar program that provides you with a platform to more easily give back.
Scott notes that early investors may be hesitant to back your charitable commitment. However, it is imperative that you position your company as a purposeful and visionary organization in all aspects of your business, including on a philanthropic level.