Globant's Be Kind Tech Fund Collaborates With Investors, Universities, and Nonprofits to Tackle Misuse of Technology

Rhea-AI Summary

Globant (NYSE: GLOB) announced expansion of its Be Kind Tech Fund partnerships with The George Washington University, Riverwood Capital, IDB Lab, and Nazca. This corporate venture fund, focused on supporting startups addressing technology misuse, aims to amplify its global impact through collaboration with educational and nonprofit sectors. The partnership emphasizes addressing issues like AI bias and online harassment while fostering innovative tech solutions.

Positive

• Be Kind Tech Fund expands partnerships with educational and nonprofit sectors to amplify global outreach.
• Focus on supporting startups that mitigate technology misuse potentially positions GLOB for growth in emerging tech sectors.

Negative

• None.

The Fund's new partners include The George Washington University and investors Riverwood Capital, IDB Lab, and Nazca, alongside the Center for Humane Technology joining as an advisor

SAN FRANCISCO, May 24, 2022 /PRNewswire/ --  Globant (NYSE: GLOB), a digitally native company focused on reinventing business through innovative technology solutions, today announced that its Be Kind Tech Fund, the first and only corporate venture fund wholly focused on supporting startups that seek to mitigate the misuse and abuse of technology, is collaborating on its mission with partners including The George Washington University and investors Riverwood Capital, IDB Lab, and Nazca. The Center for Humane Technology is also joining the Fund as an advisor.

With these expansions in its network of partners, the Be Kind Tech Fund will be able to maximize its influence to reach qualifying, high-impact startups globally. By collaborating with like-minded organizations across the investment, educational, and nonprofit sectors – which are equally dedicated to the Fund's mission – the Fund will expand the scope of its approach to mitigate the negative impacts resulting from technology abuse and misuse through funding, amplifying the smartest research, and promoting education.

The misuse of technology has been proven to result in AI bias, online harassment and abuse, screen time abuse, and outrage algorithms and polarization, among other consequences. In its Ledger of Harms, The Center for Humane Technology shares research that shows how the resulting impacts take a visible, lasting, and extensive toll on both children and adults. A few examples include:

• Children who experienced cyberbullying were significantly more likely to engage in risk-taking health behavior as adults.
• Preschoolers who use screen-based media for more than 1 hour each day have been shown to have significantly less development in core brain regions involved in language and literacy.
• Adolescents' use of social media was a significant predictor of their depression levels over the course of four years.

"Globant was founded with the belief that technology has played – and will continue to play – a fundamental role in the continuous reinvention of our world," said Guibert Englebienne, Co-Founder, President for Latam and Globant X. "As technology grows more sophisticated, its potential for good increases. Alongside our Be Kind Tech Fund's new partners and advisors, we will increase our collective power to ensure technology is harnessed for the benefit of society and reduce the potential harms of its misuse or misapplication."

"We look forward to partnering with Globant on entrepreneurship and experiential learning initiatives, faculty research, and outreach to promote ethical tech solutions – all areas that resonate with our own mission and enhance student and faculty experiences," said Dr. Anuj Mehrotra, Dean at The George Washington University School of Business. "Partnering with an organization that shares this passion will amplify one another's efforts to make an impact. We expect it will increase innovative career opportunities for our students in this important growth sector."

"Humane technology isn't just an ideal, it's a growing sector that is creating tremendous economic and social value," said Maria Bridge, Chief Communications Officer at the Center for Humane Technology. "Leading funders like Be Kind Tech Fund are helping technology succeed by aligning incentives with our humanity rather than exploiting it."

"As technology becomes more pervasive, it's important that investors and other stakeholders consider the long-term implications and seek out opportunities to harness the power of innovation for positive outcomes worldwide," said Francisco Alvarez-Demalde, Co-Founder and Managing Partner at Riverwood Capital. "Alongside the Be Kind Tech Fund, its partners, and other like-minded organizations, we can play a role in helping startups who strategically combat technology's misuse become long-lasting, high-growth companies with the ability to scale across sectors and geographies."

"Since our founding in 2014, we've seen several immensely talented entrepreneurs in Latin America and beyond with ideas that can change the world for the better – they just need the opportunities and tools to put them into action," said Jaime Zunzunegui, Managing Partner at Nazca. "As a partner of the Be Kind Tech Fund, together we will empower revolutionary start-ups, who are improving how we use technology and its impact on our lives, to reach their maximum potential."

Learn more about the Be Kind Tech Fund, apply for support, or join us as a partner here.

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 24,500 employees and we are present in 19 countries working for companies like Google, 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 a member of the Green Software Foundation (GSF) and the Cybersecurity Tech Accord. 

Contact: pr@globant.com
Sign up to get first dibs on press news and updates.
For more information, visit www.globant.com

About Be Kind Tech Fund

Launched in 2021, the Be Kind Tech Fund is a $10 million USD corporate venture fund administered by Globant Ventures. The fund seeks to assist global startups looking for support in developing apps, products, and platforms that are focused on mitigating the negative effects of technology, such as online harassment and abuse, data privacy and security, AI bias, screen time abuse, and information bubbles and polarization.

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 the Be Kind Tech Fund, please visit www.bekindtechfund.com and join the revolution.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/globants-be-kind-tech-fund-collaborates-with-investors-universities-and-nonprofits-to-tackle-misuse-of-technology-301554075.html

SOURCE Globant

FAQ

What is the Be Kind Tech Fund by Globant?

The Be Kind Tech Fund is a corporate venture fund by Globant focused on supporting startups that mitigate the misuse of technology.

Who are the new partners of the Be Kind Tech Fund?

The new partners include The George Washington University, Riverwood Capital, IDB Lab, and Nazca.

What is the mission of the Be Kind Tech Fund?

The mission of the Be Kind Tech Fund is to support startups that aim to reduce the negative impacts of technology, such as AI bias and online harassment.

When was the announcement regarding the new partnerships made?

The announcement was made on May 24, 2022.

How does the Be Kind Tech Fund plan to impact startups?

It aims to maximize its influence to reach high-impact startups globally through funding, research, and educational initiatives.