Impact Investing: Angels with a Cause: Impact Investing in the Angel Community

1. Understanding the Concept of Impact Investing

1. Impact Investing: Understanding the Concept of Impact Investing

Impact investing has emerged as a powerful tool for individuals and organizations to create positive social and environmental change while generating financial returns. It goes beyond traditional philanthropy by actively seeking investments that align with a particular cause or social mission. In this blog section, we will explore the concept of impact investing, its significance in the angel community, and how it can be a catalyst for transformative change.

2. Defining Impact Investing

Impact investing can be defined as the practice of investing with the intention of generating measurable social and environmental impact alongside financial returns. It encompasses a wide range of investment approaches, including venture capital, private equity, and debt financing, that target companies, projects, or organizations striving to address pressing global challenges. The key differentiating factor of impact investing is its dual focus on both financial returns and positive social or environmental outcomes.

3. Examples of Impact Investments

To better understand the concept of impact investing, let's consider a few examples. Imagine an angel investor who supports a startup developing affordable, clean energy solutions. By providing capital to this venture, the investor not only aims to generate financial returns but also contributes to reducing carbon emissions and combatting climate change. Similarly, an angel investor supporting a company focused on providing access to quality education in underserved communities is actively creating a positive social impact while seeking financial gains.

4. Tips for successful Impact investing

As impact investing gains momentum, it is essential to approach it with a well-informed strategy. Here are a few tips to consider:

A) Clearly define your impact goals: Determine the specific social or environmental outcomes you wish to achieve through your investments. This clarity will guide your decision-making process.

B) research and due diligence: Thoroughly research potential investments, including their impact track record, financial viability, and alignment with your values. Engage with entrepreneurs and experts in the field to gain a comprehensive understanding.

C) Measure impact: Look for investments that have a robust measurement and reporting framework in place. Being able to quantify the social or environmental impact generated by your investments is crucial for transparency and accountability.

5. Case Studies: Impact Investing in Action

Examining real-life case studies can provide valuable insights into the impact investing landscape. For instance, consider the case of The Rise Fund, a global impact investment fund managed by TPG Capital. The fund has successfully invested in companies like Dodla Dairy, a leading Indian dairy company, which promotes rural livelihoods and sustainable agriculture practices.

Another notable example is Omidyar Network's investment in d.light, a company that provides affordable solar energy solutions to off-grid households in developing countries. This investment not only generated a financial return for the investors but also improved access to clean and reliable energy for millions of people.

In conclusion, impact investing offers a unique opportunity for angel investors to align their financial goals with their desire to make a difference in the world. By understanding the concept, exploring examples, following key tips, and studying case studies, angel investors can become active participants in the growing movement of impact investing and contribute to positive social and environmental change.

2. The Rise of Impact Investing in the Angel Community

The angel community has long been associated with investing in early-stage startups and providing crucial support to entrepreneurs. However, in recent years, there has been a notable shift in focus towards impact investing within this community. Impact investing refers to investments made with the intention of generating positive social and environmental impact alongside financial returns. As the world grapples with pressing global challenges, such as climate change, inequality, and poverty, impact investing has emerged as a powerful tool for angels to make a meaningful difference. In this section, we will explore the rise of impact investing in the angel community, showcasing examples, tips, and case studies that highlight the transformative power of this approach.

1. Examples of Impact Investments:

To better understand the rise of impact investing in the angel community, let's take a look at some inspiring examples. One notable example is the investment made by angel investor Sir Ronald Cohen in Social Finance UK. Cohen's investment helped establish the world's first social impact bond, which aimed to reduce reoffending rates among prisoners. This innovative financial instrument not only demonstrated the potential of impact investing but also paved the way for future initiatives in the field.

Another example is the investment made by the social impact fund Acumen in d.light, a company that provides affordable solar products to off-grid communities. By investing in d.light, Acumen enabled the company to expand its reach, bringing clean and reliable energy access to millions of people living in poverty. This investment not only generated financial returns for Acumen but also contributed to sustainable development goals, such as poverty alleviation and environmental conservation.

2. tips for Angel investors:

If you are an angel investor interested in engaging in impact investing, here are some valuable tips:

A) Define your impact objectives: Before making any investment, clearly define the social or environmental outcomes you want to achieve. This will help guide your decision-making process and ensure alignment with your values.

B) conduct thorough due diligence: Just like any other investment, it is essential to conduct thorough due diligence when considering an impact investment opportunity. assess the financial viability of the venture alongside its potential for creating positive impact.

C) Seek collaboration and expertise: Impact investing often requires a multidisciplinary approach. Consider partnering with other angels, impact funds, or organizations with expertise in the specific social or environmental issue you are targeting. Collaboration can enhance the impact and reduce risks.

3. Case Study: Omidyar Network's Investment in Landmapp

Omidyar Network, a philanthropic investment firm founded by Pierre Omidyar, the founder of eBay, made an impactful investment in Landmapp, a company working to secure land rights for farmers in Ghana. By investing in Landmapp, Omidyar Network enabled the company to use technology to map and document land ownership, empowering farmers and reducing the risk of land disputes. This investment showcased how impact investing can address systemic challenges and create positive change at scale.

In conclusion, the rise of impact investing in the angel community signals a shift towards more purpose-driven investing. Angels are recognizing the potential to generate both financial returns and positive social and environmental outcomes. Through examples, tips, and case studies, we have explored the transformative power of impact investing in the angel community. As this trend continues to gain momentum, it is clear that angels with a cause can make a significant difference in tackling some of the world's most pressing challenges.

3. How Impact Investing Aligns with Angel Investors Objectives?

1. Shared Values: Impact investing aligns closely with the objectives of angel investors due to the shared value of making a positive difference in the world. Just like angel investors, impact investors are driven by a desire to support and promote innovative solutions that address social or environmental challenges. This common goal allows angel investors to expand their investment horizons beyond purely financial returns and actively contribute to creating a better future.

2. opportunities for High returns: Contrary to the misconception that impact investing only focuses on social or environmental impact at the expense of financial returns, many impact investments can generate attractive financial returns. Angel investors who prioritize both profit and purpose can find numerous opportunities in impact investing that align with their investment preferences. For instance, investing in renewable energy startups not only contributes to a sustainable future but also offers the potential for significant financial gains as the demand for clean energy continues to rise.

3. Diversification of Investment Portfolio: impact investing provides angel investors with an opportunity to diversify their investment portfolios beyond traditional sectors. By allocating a portion of their capital to impact investments, angel investors can mitigate risks associated with concentrated investments in a single industry or sector. For example, an angel investor who primarily invests in technology startups can diversify their portfolio by investing in impact-focused startups, such as those working on solutions to combat climate change or improve access to healthcare in underserved communities.

4. Attracting Millennial Investors: Impact investing has gained significant popularity among millennials, who prioritize social and environmental impact alongside financial returns. As angel investors, it is crucial to adapt to changing investor preferences and cater to the growing demand for impact-focused investments. By incorporating impact investments into their portfolio, angel investors can attract a new generation of investors who are eager to support ventures aligned with their values.

5. Case Study: One inspiring example of how impact investing aligns with angel investors' objectives is the story of Acumen Fund. Founded by Jacqueline Novogratz, Acumen Fund is a non-profit global venture fund that focuses on investing in companies addressing poverty issues in developing countries. It attracts angel investors who are passionate about making a meaningful impact in the world while seeking financial returns. Acumen Fund's successful portfolio includes investments in companies like d.light, which provides affordable solar lighting to off-grid communities, and Ziqitza Health Care, which offers emergency medical services in India.

6. Tips for Angel Investors: If you are an angel investor interested in exploring impact investing, here are some tips to get started:

- research Impact investment Opportunities: Familiarize yourself with impact investing and identify sectors or industries that align with your values and investment goals. Research impact-focused funds, incubators, or accelerators that can connect you with potential investment opportunities.

- Network with Other Impact Investors: Attend impact investing conferences, seminars, or join online communities to connect with like-minded investors. Collaborating with experienced impact investors can provide valuable insights and increase your chances of finding high-potential impact investments.

- evaluate impact Metrics: While financial returns are essential, impact investors also evaluate the social or environmental impact generated by their investments. Develop a framework to assess impact metrics and ensure alignment with your investment thesis.

- Seek Expert Advice: Engage with impact investing experts or seek advice from experienced impact investors. They can assist in evaluating investment opportunities, understanding impact measurement methodologies, and guiding you through the impact investing landscape.

Incorporating impact investing into their investment strategies allows angel investors to leverage their capital for both financial returns and social or environmental impact. By aligning with the objectives of impact investing, angel investors can contribute to positive change while diversifying their portfolios and attracting a new generation of investors who prioritize purpose alongside profit.

4. Successful Impact Investments by Angel Investors

1. Case Study: Clean Energy Start-up

One successful impact investment made by an angel investor involved a clean energy start-up focused on developing innovative solar technology. The angel investor recognized the potential of this company to disrupt the traditional energy sector and create a positive impact on the environment. By providing both financial support and mentorship, the angel investor helped the start-up scale its operations, attract new customers, and secure additional funding. Today, the clean energy start-up has become a leading player in the renewable energy industry, making a significant contribution to reducing carbon emissions and promoting sustainable living.

2. Case Study: Education Technology Platform

Another impactful investment by an angel investor involved an education technology platform aimed at providing accessible and quality education to underserved communities. The angel investor saw the potential of this platform to bridge the education gap and empower individuals who lacked access to traditional educational resources. Through their investment, the angel investor not only provided the necessary capital for the platform's growth but also connected the start-up with key stakeholders in the education sector. As a result, the education technology platform expanded its reach, improved learning outcomes, and positively impacted the lives of thousands of students, particularly in low-income areas.

3. Tips for Angel Investors:

A. Conduct thorough due diligence: Before making an impact investment, angel investors should thoroughly research and evaluate the potential social or environmental impact of the start-up. Understanding the start-up's mission, target market, and scalability is essential to make an informed investment decision.

B. Seek alignment: Angel investors should seek alignment between their own values and the start-up's mission. Investing in ventures that align with personal beliefs and passions can lead to more successful impact investments and a greater sense of fulfillment.

C. Leverage networks: Angel investors can leverage their networks to support the start-ups they invest in. Introductions to potential customers, partners, or mentors can significantly boost the start-up's growth and impact.

4. Case Study: Sustainable Fashion Brand

One compelling example of a successful impact investment by an angel investor is a sustainable fashion brand committed to ethical manufacturing practices and reducing waste in the fashion industry. The angel investor recognized the growing consumer demand for sustainable fashion and saw an opportunity to support a start-up that aligned with their values. With the angel investor's financial backing and guidance, the sustainable fashion brand was able to expand its product line, increase its production capacity, and gain recognition in the industry. This investment not only supported the growth of the start-up but also contributed to raising awareness about sustainable fashion and encouraging other companies to adopt similar practices.

5. Case Study: Healthcare Innovation

Lastly, an impactful investment by an angel investor involved a healthcare innovation start-up focused on improving access to healthcare services in underserved communities. The angel investor recognized the potential of this start-up to address the healthcare disparities prevalent in many regions. By providing funding and strategic guidance, the angel investor helped the start-up develop and implement innovative solutions, such as telemedicine platforms and mobile clinics. As a result, the healthcare start-up successfully provided affordable and quality healthcare to underserved populations, positively impacting countless lives.

Through these case studies and tips, it becomes evident that angel investors play a crucial role in driving impactful change through their investments. By carefully selecting and supporting start-ups with a strong mission and potential for scalability, angel investors can not only generate financial returns but also contribute to creating a more sustainable and equitable world.

5. The Challenges and Opportunities in Impact Investing for Angels

Impact investing offers a unique opportunity for angel investors to not only generate financial returns but also make a positive social or environmental impact. However, like any investment strategy, impact investing comes with its own set of challenges and opportunities. In this section, we will explore some of the key challenges that angels face in impact investing and the potential opportunities that lie ahead.

1. Challenge: Identifying viable impact investment opportunities

One of the primary challenges for angels in impact investing is finding viable investment opportunities that align with their values and objectives. Impact investing spans across various sectors and themes, ranging from renewable energy and sustainable agriculture to education and healthcare. It requires thorough research and due diligence to identify ventures that have the potential to deliver both impact and financial returns.

Opportunity: Building a strong network and ecosystem

To overcome the challenge of identifying impact investment opportunities, angels can leverage their networks and build relationships with other investors, impact funds, and organizations focused on social and environmental impact. Engaging with impact-focused incubators, accelerators, and platforms can also provide access to a diverse range of vetted impact ventures. By actively participating in impact investing communities, angels can expand their deal flow and increase the likelihood of finding suitable investment opportunities.

2. Challenge: measuring impact and financial returns

Another significant challenge in impact investing is measuring the impact and financial returns of investments. Traditional investment metrics may not adequately capture the social or environmental impact generated by an investment. Angels need to develop frameworks and methodologies to assess both the financial and impact performance of their portfolio companies.

Opportunity: Utilizing impact measurement tools and frameworks

To address this challenge, angels can leverage impact measurement tools and frameworks such as the Impact Reporting and Investment Standards (IRIS) or the global Impact investing Rating System (GIIRS). These tools provide standardized metrics and reporting frameworks that help angels assess and compare the impact generated by their investments. By utilizing these tools, angels can gain insights into the social and environmental outcomes of their portfolio companies and make informed investment decisions.

3. Challenge: balancing financial returns and impact

While angels aim to generate positive impact through their investments, they also need to consider financial returns to sustain their investment activities. Striking the right balance between financial returns and impact can be a challenge, as impact-focused ventures may have longer time horizons for profitability or face inherent risks associated with their social or environmental missions.

Opportunity: Patient capital and blended finance

Angels can explore the concept of patient capital, which involves providing longer-term funding and being more tolerant of lower initial financial returns in exchange for greater impact potential. Additionally, angels can consider blended finance models, where public and private capital are combined to support impact ventures. These approaches can help angels navigate the trade-off between financial returns and impact, allowing them to support ventures that align with their values while still aiming for financial sustainability.

In conclusion, impact investing presents angels with both challenges and opportunities. By actively engaging with impact investing communities, leveraging impact measurement tools, and exploring innovative financing models, angels can overcome these challenges and unlock the potential for generating both financial returns and positive social or environmental impact through their investments.

6. Strategies for Incorporating Impact Investing into Angel Portfolios

1. Diversify your portfolio: One key strategy for incorporating impact investing into your angel portfolio is to diversify your investments. By spreading your investments across different sectors and impact areas, you can mitigate risk and increase the likelihood of achieving both financial returns and social impact. For example, you may choose to invest in companies focused on renewable energy, healthcare, education, or sustainable agriculture. Diversification ensures that even if one sector underperforms, your overall portfolio can still generate positive impact.

2. Conduct thorough due diligence: Before making any investment, it is crucial to conduct thorough due diligence to assess the potential financial and social returns. Look beyond the financials and evaluate the company's impact mission, metrics, and track record. Consider factors such as the scalability of the business model, the management team's expertise, and the potential for long-term sustainability. For instance, you could analyze a company's impact metrics to determine its progress towards achieving its environmental or social goals.

3. collaborate with other angel investors: Collaborating with other angel investors who share your passion for impact investing can amplify your impact and increase your investment opportunities. By pooling your resources and expertise, you can collectively make larger investments and support ventures that have the potential for significant social change. Additionally, working with like-minded investors allows for knowledge sharing and the opportunity to learn from each other's experiences and perspectives.

4. Leverage impact measurement tools: To effectively incorporate impact investing into your angel portfolio, it is essential to measure and track the social and environmental outcomes of your investments. Utilize impact measurement tools and frameworks, such as the Global impact Investing Network's impact Reporting and Investment Standards (IRIS), to assess and compare the impact performance of different investments. These tools can help you make informed decisions and align your investments with your desired impact objectives.

5. Engage actively with portfolio companies: As an impact investor, your role goes beyond providing capital. Actively engage with the companies in your portfolio to ensure they are effectively pursuing their impact goals. Offer strategic advice, mentorship, and connections to help them navigate challenges and scale their impact. By actively participating in the growth and development of your portfolio companies, you can enhance their potential for success and maximize the positive social outcomes of your investments.

6. Consider blended finance approaches: Blended finance approaches involve combining philanthropic capital with private investment to address complex social and environmental challenges. As an angel investor, you can explore opportunities to leverage public or philanthropic funding to increase the impact of your investments. For instance, you may choose to invest in impact-focused funds that use a blended finance approach to mobilize additional capital for projects in sectors such as affordable housing or clean energy.

Case Study: One successful example of incorporating impact investing into an angel portfolio is the case of Acumen. Acumen is a nonprofit impact investment fund that has attracted angel investors who are committed to addressing poverty and improving access to essential services in low-income communities. By diversifying their investments across sectors like healthcare, agriculture, and education, Acumen's angel investors have generated both financial returns and significant social impact, improving the lives of millions of people globally.

Tip: Stay up-to-date with impact investing trends and opportunities by attending conferences, joining impact-focused networks, and following industry publications. This will help you identify emerging areas of impact and connect with like-minded investors and entrepreneurs.

Incorporating impact investing into angel portfolios requires a thoughtful approach, combining financial acumen with a deep commitment to social and environmental change. By diversifying your portfolio, conducting thorough due diligence, collaborating with other angel investors, leveraging impact measurement tools, actively engaging with portfolio companies, and considering blended finance approaches, you can maximize the positive impact of your investments while still aiming for financial returns.

7. Key Considerations for Angels

1. Understand the importance of Impact measurement:

As angel investors, it is crucial to recognize the significance of measuring the social and environmental impact of our investments. Impact measurement allows us to evaluate the effectiveness of our actions and ensure that we are making a positive difference in the world. By quantifying and assessing the outcomes of our investments, we can identify areas of improvement and make informed decisions for future investments.

2. Choose the Right Metrics:

Selecting the appropriate metrics to measure social and environmental impact is essential. Different investments will have different objectives and outcomes, so it is crucial to choose metrics that align with the specific goals of each investment. For example, if you are investing in a renewable energy startup, metrics such as carbon emissions reduction and energy generation capacity would be relevant. On the other hand, if you are investing in a social enterprise focused on education, metrics like literacy rates and school enrollment would be more appropriate.

3. Consider the Context:

When measuring impact, it is important to consider the context in which the investment operates. Impact measurement should take into account the specific social and environmental challenges faced by the target population or the industry in which the investee operates. For instance, if you are investing in a healthcare startup in a developing country, it is crucial to consider the local healthcare infrastructure, access to medical services, and prevailing health indicators to assess the impact accurately.

4. Engage with the Investee:

To ensure accurate impact measurement, it is essential to engage with the investee and develop a collaborative relationship. By working closely with the investee, you can gain a deeper understanding of their operations, impact goals, and challenges they face in measuring their impact. This collaboration can help you identify the most relevant metrics and data sources, as well as address any potential limitations or biases in the impact measurement process.

5. leverage Technology and data:

In today's digital age, there are numerous tools and technologies available to assist with impact measurement. utilize data analytics, impact measurement platforms, and other technological solutions to streamline the process and enhance the accuracy and efficiency of impact measurement. These tools can help automate data collection, analysis, and reporting, making impact measurement more manageable for angel investors.

6. Case Study: investing in Clean water Solutions:

Consider a case where an angel investor is interested in investing in a startup that provides clean water solutions to underserved communities. In this case, relevant impact metrics could include the number of people gaining access to clean water, reduction in waterborne diseases, and improvement in overall community health. By regularly monitoring these metrics, the angel investor can evaluate the effectiveness of the investment and make informed decisions for future funding.

7. Tips for Effective Impact Measurement:

- Start with a clear impact thesis and define measurable goals.

- Regularly collect and analyze impact data to track progress.

- Engage with investees and stakeholders to understand their perspectives.

- Consider both qualitative and quantitative data to gain a comprehensive understanding.

- Be transparent about impact measurement methodologies and limitations.

As angel investors, we have a unique opportunity to make a significant social and environmental impact through our investments. By adopting a systematic approach to impact measurement and considering these key considerations, we can ensure that our investments are not only financially successful but also contribute to positive change in the world.

8. Building a Strong Community

Collaboration is at the heart of impact investing. As impact investors, we understand that by working together, we can amplify our efforts and create even greater social and environmental change. Building a strong community of like-minded investors not only allows us to pool our resources, but also provides a platform for sharing knowledge, best practices, and experiences. In this section, we will explore the importance of collaborating with other impact investors and offer tips on how to build and nurture a strong community.

1. sharing Knowledge and Best practices

One of the key benefits of collaborating with other impact investors is the opportunity to share knowledge and best practices. By exchanging information about successful investments, innovative approaches, and lessons learned, we can collectively improve our impact and avoid common pitfalls. For example, a group of impact investors in the renewable energy sector may come together to share insights on the most effective financing models or regulatory challenges they have encountered. This exchange of knowledge can help individual investors make more informed decisions and ultimately drive greater impact.

2. Co-Investing for Greater Impact

Collaboration among impact investors often takes the form of co-investing, where multiple investors pool their capital to support a particular project or organization. Co-investing not only allows for larger investments, but also spreads the risk among multiple parties. For instance, several impact investors may join forces to provide funding for a social enterprise that is working to improve access to clean water in developing countries. By co-investing, these investors can leverage their resources and expertise to maximize the impact of their investment while minimizing individual risk.

3. building Networks and partnerships

Collaboration with other impact investors also opens doors to new networks and partnerships. By attending industry conferences, workshops, and networking events, investors can connect with like-minded individuals who share their passion for creating positive change. These connections can lead to valuable partnerships, co-funding opportunities, and access to new investment opportunities. For example, an impact investor specializing in education may meet a fellow investor who has a strong network in the healthcare sector, leading to a partnership that supports innovative solutions at the intersection of both fields.

4. Case Study: The Global Impact Investing Network (GIIN)

An excellent example of collaboration in the impact investing space is the Global Impact Investing Network (GIIN). GIIN brings together investors, fund managers, and other stakeholders with the aim of accelerating the development of the impact investing industry. Through its various initiatives, such as the Impact Reporting and Investment Standards (IRIS) and the Impact Investment Exchange (IIX), GIIN facilitates collaboration, knowledge sharing, and measurement of impact. By leveraging the collective power of its members, GIIN is able to drive systemic change and promote the adoption of best practices in impact investing.

Tips for Building a Strong Community:

- attend industry events and conferences to meet other impact investors.

- Join impact investing networks and organizations to connect with like-minded individuals.

- Actively engage in online communities and forums dedicated to impact investing.

- Seek opportunities for co-investing and partnership-building with other investors.

- Share your knowledge and experiences through articles, blogs, and speaking engagements.

By collaborating with other impact investors, we can build a strong and supportive community that drives positive change. Through sharing knowledge, co-investing, and building partnerships, we can amplify our impact and create a better future for all. Let's continue to work together to make a difference in the world.

9. The Future of Impact Investing in the Angel Community

1. As we come to the end of our exploration into impact investing in the angel community, it is clear that this approach to investing is gaining significant momentum and has the potential to shape the future of the investment landscape. With its focus on generating positive social and environmental outcomes alongside financial returns, impact investing has the power to create meaningful change in the world.

2. One of the key takeaways from our discussion is the increasing recognition among angel investors that they have the ability to make a difference beyond just financial gains. By actively seeking out and supporting startups that align with their values and have a positive impact on society, angel investors can contribute to the development of a more sustainable and equitable world.

3. Several examples illustrate the potential of impact investing in the angel community. For instance, consider the case of an angel investor who supports a startup that develops affordable and clean energy solutions for rural communities. Not only does this investment have the potential to generate financial returns, but it also addresses the pressing issue of energy poverty and contributes to the global transition towards renewable energy sources. This kind of investment not only benefits the investor but also creates a positive ripple effect in society.

4. Tips for angel investors interested in impact investing include conducting thorough due diligence on potential investees to ensure their claims of impact are genuine. It is essential to assess the startup's mission, values, and track record to ensure alignment with the investor's goals. Additionally, networking with other impact investors and participating in impact-focused events and conferences can provide valuable insights and opportunities for collaboration.

5. Case studies can provide further inspiration for angel investors looking to make an impact. For example, the story of an angel investor who supports a social enterprise that empowers women in developing countries through education and skills training. Through their investment, they not only help create economic opportunities for women but also contribute to gender equality and poverty reduction. Such success stories highlight the transformative power of impact investing and its potential to drive positive change on multiple fronts.

6. Looking ahead, the future of impact investing in the angel community seems promising. As more angel investors recognize the importance of considering social and environmental factors alongside financial returns, we can expect to see a growing number of startups with a focus on impact receiving funding. This increased support will enable these startups to scale their operations and amplify their impact, ultimately contributing to a more sustainable and inclusive economy.

7. In conclusion, impact investing has the potential to revolutionize the angel community by aligning financial goals with social and environmental impact. By actively seeking out and supporting startups that prioritize positive change, angel investors can contribute to a more sustainable and equitable future. As the momentum behind impact investing continues to build, we can look forward to a future where every investment is not only driven by profit but also by the desire to create a better world for all.