Globant Launches A $10 USD Million Venture Fund To Support Tech Startups Tackling The Misuse Of Technology In Society
Globant (NYSE: GLOB) has launched the BeKindTech Fund, a $10 million initiative aimed at addressing the societal issues arising from technology misuse. The fund invites global tech startups to apply for investments ranging from USD 100K to USD 1 million. The selection will focus on projects that can effectively change user behavior and promote positive practices. CEO Martín Migoya highlighted the importance of ensuring technology serves humanity positively, amidst rising concerns over issues like social media addiction and AI bias.
- Launch of the $10 million BeKindTech Fund to support startups addressing technology misuse.
- Investment range for startups between $100K to $1 million, indicating strong financial backing.
- Focus on initiatives that promote positive change in technology usage, enhancing societal impact.
- None.
SAN FRANCISCO, Nov. 11, 2021 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing business through innovative technology solutions, announced the launch of BeKindTech Fund, a new initiative from Globant Ventures that aims to tackle the negative societal effects created by the misuse or misapplication of technology.
"We believe that tech is inherently good and improves lives around the world. It connects us, spurs innovation for the greater good, and enables reinvention. However, when misapplied or misused, its impact can be negative. This needs to be addressed to ensure tech is beneficial for humanity as a whole, and we need to act now," explained Martín Migoya, Globant CEO & Co-founder.
As an established tech leader and digital solutions creator, Globant is opening a call for applications from tech startups globally who are seeking investment and support for their work focused on tackling the negative collateral effects caused by the misuse of technology.
Globant Ventures, the Company's venture capital (VC) arm, will evaluate each submission and pursue funding opportunities to startups via equity or convertible note formats, with investments between USD 100K to USD 1 million on a case-by-case basis. Together with other partners who may want to co-invest in these tech startups. The purpose and the ability of each tech project or app to make effective changes in user behaviors and multiply good practices will be key elements for selection consideration.
The scope of the debate around technology's potential for negative societal impacts -- and, in turn, the focus of the BeKindTech Fund -- is broad, ranging from texting and driving to screen time abuse to social media addiction. Recent events, studies and reports have created broader awareness around the consequences of the misuse of social networks, AI bias and information or filter bubbles, among other challenges. While awareness is important, combating these issues is now paramount.
"The synergy of Globant's reinvention approach, Globant Ventures' entrepreneurs support and Globant's Be Kind initiative uniquely positions the BeKindTech Fund to make a real difference and help us create great impact in the near future," said Guibert Englebienne, Co-founder of Globant and President of Globant X.
If you are an entrepreneur or startup focused on mitigating the negative impacts of tech and ensuring tech is used for good, or are interested in knowing more about .beKindTech Fund, please visit www.bekindtechfund.com and join the revolution.
This announcement does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of BeKindTech Fund or Globant Ventures.
About Globant
We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design and engineering meet scale.
- We have more than 20,000 employees and we are present in 18 countries working for companies like Google, Rockwell Automation, Electronic Arts, and Santander, among others.
- We were named a Worldwide Leader in CX Improvement Services by IDC MarketScape report.
- We were also featured as a business case study at Harvard, MIT, and Stanford.
- We are members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.
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