Brand growth is no longer defined solely by economics. Environmental and social metrics that positively impact people's lives are now essential elements. In this way, companies with various social impact purposes are born. Profits are important, but so is the the mark they leave on the world.

This makes stakeholders such as employees, customers and investors They require organisations to reconsider their vision of the planet, seeking to ensure that the contribution of projects points to a broader purpose and, in this way, to be able to evaluate the viability of companies.

La transparency plays a key role and it is through it that bonds of trust are built between people and companies that seek mechanisms that offer security and peace of mind. Being able to count on clear information and knowing who has access to the data and how it will be used is fundamental in this relationship between both actors.

According to data from CB Insights, emerging entrepreneurs from the region managed to raise $20,000 million in 2021, almost four times more than the previous year. This translates into a great opportunity for startups with a purpose, in a region that can find in private initiatives some answers that are not satisfied by governments or public bodies.

Andrés Rave, Regional Director of Business Solutions at Seguros SURA, emphasizes that “B companies are now seen more as a business vision that understands their increasingly conscious consumers, and who demand and value attributes such as the social and environmental impact behind any good or service.”

Today's startups are immersed in a hyperconnected economic world, where advances in technology facilitate such global interactions, prompting entrepreneurs to think globally from the start. New companies and businesses find venture capital and other funding when they make the right connections at global events.

As they explain experts from Make Sure You LiveIn these times, having a global vision is a necessity to manage and identify changes in the environment, and allows for anticipation in administration and decision-making. The cultural diversity to which we are exposed leads to the challenge of being innovative, resilient and avoiding being a clone of the market.

“In today's world, different skills are needed than those required just twenty years ago to make a new company global. The keys are to think globally from the beginning and to be quick about it,” the specialists add. 

Accelerators of today to transform the future

Gabriela Ruggeri, Managing Partner at Kamay Ventures, explains that companies must be clear about the purpose and why they do what they do. “To do this, they must be consistent between their speech and their actions based on the purpose; when they are clear about it, it becomes part of the company culture,” he emphasizes.

From his perspective, it is very important that companies have enough flexibility to incorporate the right technologies and talent that allow them to fulfill the purpose that the organization had at its inception. Everything must be aligned with the question “what do you want to leave the world?”, concludes Ruggeri.

Gonzalo Santos, General Manager at SURA Argentina, argues that “the purpose is what shapes the business model,” and that it must be on par with the transformation and changes in habits observed today in consumers. “Today, trends are more related to consumers who are betting on a long-term world, with a purpose, and that makes the products we sell adapt to the new realities of those who buy them,” insists the expert.

For its part, Daniel Tricarico, founder and CEO of Impact Latam, explains “It is a great time to undertake with impact from the region.” For the businessman, there is a growing venture capital industry, government, private and NGO initiatives, a lot of entrepreneurial talent and public policies that are gradually understanding that entrepreneurship must be the priority for the development of the region.

However, while there is firm ground ahead, there is still a long way to go. The report of the 2020 Global Impact Investment Network (GIIN) indicates that the estimated global impact investment market size is USD 715,000 billion. However, Latin American-based funds account for only 4% of total investments. 

Martin Vazquez, CEO and founder of Qualia Eyewer, a startup that produces 100% recycled glasses, gives his vision about the innovation and entrepreneurship ecosystem with impact in Latin America. “Latin America is a region where opportunities and needs abound,” says the entrepreneur.

“He has always stood out for his talent in the area of ​​human resources. I believe that the biggest challenge facing the region today is to take advantage of and retain those resources to integrate into the different international markets, offering greater added value to the world,” adds Vásquez. 

For the startup's representative, "technologies must be harnessed and used to resolve the environmental and social issues facing our region and the world in general," and adds that "just as there are the categories Agtech, Foodtech, Biotech, Edtech; We will soon start talking about Impactech".

“Yes, just as there are the categories Agtech, Foodtech, Biotech, Edtech; We will soon start talking about Impactech"

Juan Ignacio Zaffora, Regional Startup Manager of EIT Food, a company whose purpose is to build a future where food is healthy, sustainable and accessible to everyone, Summarizes the role that an accelerator can play at the beginning of a startup with social impact.

“Entrepreneurial ecosystems with strong relationships and positive, powerful interrelations are necessary for projects to develop correctly and reach their full potential. And this ecosystem is built with regional platforms that shorten distances and eliminate barriers. Impactlatam It is a great channel for this ecosystem, along with many other agents that are doing so, and that is very good news for the development of the region," says Zaffora.

More and more countries in the region are aiming to take responsibility for their environmental impact. This means that in the Latin American and Caribbean region there are More than 700 companies with B Certification (several of them also recognized as “Best for the World  

Due to the forms of consumption, new technologies and environmental awareness at a global level, from SURA Insurance We understand that companies have been tested: change its business model and proposal to align with new socio-environmental demands.