The Critical Intersection of Markets.
The development of Seam Social Labs comes at a critical time in the US Economic market. The booming expansion of the .com industry has disrupting the global economy, shifting investor and consumer focus on internet and tech-based products whether they are SaaS or device based. This current market has been able to grow vastly due to a reliance on data to determine consumer desires and ideal market based solutions. This disruption combined with the rise of the Millenial and Gen Z generations entering the workforce has led to the extreme desire for mission centered businesses. The tech industry provides high revenue outcomes that do not reflect their impact on society.
Initial responses from tech-based companies (Silicon Valley and beyond) focused on corporate social responsibility and grant-making to fulfill the desires of their consumer demands for social impact. Over the past decade, this has supported the non-profit industry with a diverse range of grants and board members, yet the philanthropic market did not rise with the economy of technology. Instead, philanthropy has stalled at around 2% of the American GDP since about 1971 --only rising to 3% in 2018 due to inflation. With the continued launch of non-profit organizations in America and lack of resources, there has grown an economic need for a market that can serve both needs and have the capability to be a scale-able. Due to this, the emergence of the social enterprise and impact investing has started to forge its way into American economies with a growth rate that philanthropy has yet to experience.
As of 2018, as reported by the Global Impact Investing Network, impact investing is a $228.1 billion global market. While impact investment emerged pre-2000 the national demand for this industry surged in the 2000’s-2010’s, with the expectation of it to grow into a trillion dollar industry in the next decade. In addition, during this same time period the social enterprise industry is a $500 billion industry; this data is complex as it includes Benefit corporations and non-profit organizations and does not account for all businesses labeled as B Corps in America. With social enterprise as a new market, the data, language and estimated growth is hard to clearly determine. Yet, there is one thing analysts agree upon --both industries have significant promise for growth in the coming decades.
The intersection of these two new industries make for a prime foundation in launching a social enterprise that has the capacity to generate profit for a social cause and accept funds from impact investors. Mission centered businesses are the contemporary response to a rising generation looking for corporate accountability, impact on society and environment and a direct response to a data-driven society. Seam Social Labs aspires to be a mission centered response to all of the above mentioned problems. A focus on local economic sustainability that appeals to impact investors (angels, venture philanthropists, banking and foundations) desires to make a difference by increasing resources to small businesses and adding breadth to local work-forces, with a lean business model designed to scale internationally and maximize profitability.
It is in this sweet spot that Seam Social Labs exists. At the crux of economic profitability, sustainability + social good, is an organization committed to all of the above and then some. We believe that community residents, small businesses and transportation are the keys to successful local economies, therefore we are constantly brainstorming new ideas to support these elements.
What do you believe are critical element of economic sustainability?
What would you like to see change in your community?
How can innovation shift a city in the midst of transformation?
We would love to hear yours answers!