Revenue that ensures the viability of a venture with sustainable growth benefits us all as we all share the indirect benefits of responsible business. According to the Global Impact Investing Network, impact investments are those made into companies, organisations and funds that intend to generate a positive social impact alongside a healthy financial return.
Is there evidence to support change?
Impact investors are eager to demonstrate that social value and competitive financial returns are not necessarily mutually exclusive, according to the Stanford Social Innovation Review. Until recently little more than the profit made has been considered when making an investment, which might have been due to difficulties foreseeing the impact that is only revealed over a long period of time and is complicated to measure.
In addition, an increasing number of companies are being exposed for failing to address exploitative and/or harmful practices, particularly on social media platforms. This has resulted in investors, particularly millennials, demanding a wider and deeper range of information about social and environmental impact when assessing investment opportunities. Barclays, recently found that millennials are four times more likely than older people to invest their money to achieve a social or environmental impact. This may be because the parameters considered when investing are widening and take into account mistakes that have been made and which younger generations feel it is their duty to address.
Can change happen?
Kalgera is an example of a company that is able to show the potential for both financial gains as well as having a significant positive social impact. For example, safeguarding vulnerable people from financial abuse and scams is likely to have great positive effects on quality of life and overall wellbeing for the individual as well as their social support system (i.e. their caregivers and relatives).
Our Founder, Dr Dexter Penn, founded Kalgera after caring for Peter*, one of his hospital patients. Peter was due to be discharged into a care home when it was discovered that a large sum of money had been taken from his savings. Scamming affects five million older people in the UK every year and by safeguarding the lives of older and vulnerable loved ones, Kalgera prevents much heartache and stress while simultaneously having a positive impact on the nation’s economy.
Kalgera also embraces a diverse and inclusive team, representing an underserved market that we aim to help and offering fresh insight while listening to their customers. Additionally, our vision actively dismantles the harmful stereotype that only the young are able to use technology. With careful consideration of how it can be adapted to meet the needs of older people, technology can be both accessible and helpful, and of huge benefit to improving our quality of life.