The accelerated evolution of technology and our relationship to it has been massively transformed during the past five years, even more so than in the previous two decades. This change has also led to an increased awareness of both the positive and the negative impacts technology has in our lives and as a society as a whole.
We increasingly rely on the use of technology for both work and personal activities. Because of this, we are looking for ways to protect humanity from some of its negative collateral effects. Some of these effects include screen time abuse and online harassment. 44% of internet users have personally experienced some kind of cyberbullying, while the average smartphone owner unlocks their phone 150 times a day.
Globant believes that tech is inherently good and improves lives around the world. It connects us, spurs innovation, and enables reinvention. However, when misapplied or misused, the impact can be negative.
We consider it essential that we act to ensure technology and future tech continue benefiting humanity. In a world where some companies are happy to profit off of political division and information bubbles, we’re interested in bridging divides. We believe data privacy should be a universal right, where some other companies want to track your every move. We love social media, but we want to make sure it’s not making us antisocial. It’s critical we work to ensure tech benefits humanity as a whole.
As a result of the genuine concern of Globant’s founders, the Bekind.Tech Fund was created, a US$10 million corporate venture fund managed by Globant Ventures that invests in start-ups who wish to tackle the misuse of technology in society.
Globant has identified some of the most common problems that result from the miseployment of technology, some are:
- Online harassment & abuse (Cyberbullying cases)
- Information bubbles and polarization
- Data privacy & security
- AI Bias
- Screen Time Abuse
We are also aware that there are more issues that need to be pinpointed and as a result, the Tech Fund is an open call for start-ups and partners worldwide.
Joaquin Morixe, VP Entrepreneur Relations at Globant, underlines that through this fund, Globant can create awareness of the problems and make them visible. That’s the first step needed to tackle the issue, knowing it exists. When we identify it, we can measure the issue, look for a solution, and begin mitigating it.
The BeKind.Tech Fund supports projects focused on:
Morixe explains that the criteria for start-ups to apply for the tech fund includes:
- Having a clear sense of what the negative effect is that they want to mitigate, that they can measure it, and that they have a plan to solve it.
- The founders of the start-up have the necessary abilities to fulfill their action plan.
- Start-ups need to have a sustainable business model that generates profit behind their intention to fight the issue, as the investment fund looks for a return on the investment.
The fund, part of Globant’s BeKind initiative, is not only an invitation to global start-ups seeking support for their work focused on creating tech for social good. It’s also a call for visionary partners, organizations, academic institutions, and thought leaders to join our endeavor to fight off the negative effects of technology by uniting their efforts and allow this enterprise to expand its reach.
Morixe adds that there are different categories for the partners that can participate:
1. Different funds that share the same concern and may share pipelines with Globant and vice versa, so they may co-invest along with us in the start-ups we discover together.
2. Expert partners such as academia and researchers that are willing to accompany us in the start-up analysis and identify and measure the problem.
3. Media partners and organizations that work with entrepreneurs, incubators, and think tanks that share the same focus and want to help us promote this message and movement on a worldwide level.
4.Our own clients who might be drawn to this initiative and are interested in joining.
Through our Tech Fund, applicants will be able to not only fulfill their goals by developing innovative technologies, they will also be the creators of key solutions that protect the well-being of society and tech users everywhere.
We want to help create a movement together with our clients, like-minded Venture Capital firms, as well as with prestigious academic institutions while spotlighting thought leaders who are already leading this fight. Only together with partners and startups do we believe we can begin to address this challenge.
Join our BeKind.Tech Fund