Ten entrepreneurs have been backed by a £1m fund to develop new ventures that use technology to tackle social challenges. Each will receive a £50,000 share of the £1m Social Tech, Social Change programme as well as mentorship from some of the world’s leading tech entrepreneurs to develop their early-stage ideas into profitable, scalable social tech ventures.
Annika Small, CEO of Nominet Trust, said: “When we launched Social Tech, Social Change we sent out a rallying call to action for UK entrepreneurs to use technology to drive significant social change. We have been overwhelmed with how the community has responded.”
“This fund is designed to stimulate the growth of emerging ‘tech for social good’ businesses in the UK. What we have seen so far is a high calibre of applicants with a passion to improve the lives of some of the least fortunate through the imaginative use of technology. Nominet Trust will not be seeking equity or intellectual property but instead providing funding in order to move ideas from prototype to high-impact growth.”
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