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The Societal Impact of Start-Ups at Dublin Web Summit 2014

I was delighted to be chosen to volunteer at Dublin Web Summit 2014. Imagine hanging out for 3 days with brightest and coolest entrepreneurs who have created amazing start-ups. I appreciate any person with the creativity and passion to start their own business. I recently did a a commercialization project in college based on a start-up my group and I conceptualized.  As enthusiastic as I was at the beginning, I subsequently realized the challenges of not only generating innovative ideas but ideas that will have a high impact on society. Is it combating a major issue? Even better, is it solving a problem, people are paying for? The start-ups that I rated the most over the three days were based on the high and positive impact they will have on their communities and the environments. Corporate Social Responsibility is an ever increasing issue of importance that these start ups are providing solutions for! Here are a couple I think are extra interesting.

Solvace 

Solvace offers businesses with problem solving solutions. The inevitable consequence of running a business are the problems that have to be confronted and solved on a daily basis. Solvace suggests solutions based on the data collected from problems solved previously in the business. Solvace explains that every situation tackled with their help, will subsequently “capture data to fuel future comparable situations”. This concept can be used in all aspects of business solution such as environmental solutions. Businesses struggle to lower costs in an increasingly volatile market environment. Solvace can help implement solutions to improve process efficiency in manufacturing based businesses. At DWS their stand displayed how much money had been wasted by large oil companies since the Web Summit began. By day 2, a startling $2’000’000 had accumulated overall. Reinout Declerck, CTO and co-founder of Solvace, discussed how they want  to aid these companies with issues such a waste disposing, cutting their clients costs while managing waste properly. Visit their website at www.solvace.com.

My Foody

My Foody enables consumers to buy food at a discount price from local shops before they are thrown out. This amazing idea of converting what would be thrown out food into a valuable resource allows retailers and restaurants alike manage and reduce food waste. I spoke with Luca Masseretti, co-founder and CFO, who gave me run through of the user friendly interface. After purchasing my (non-existent) food, I was then given the  option to donate the money saved on the purchase to a charity of my choice. Even though this feature is optional it enables consumers to be that more generous, even by donating €1. The e-commerce start-up also offers home delivery service, adding more value for the customer. This mutually beneficial idea for retailers limiting their waste and consumers saving money, will change the way food is disposed of to make it more sustainable. Go check them out at www.myfoody.it.

These start-ups are but a few that will definitely influence businesses and consumers in their day to day routines. There is no better time for young entrepreneurs to create a successful start-up focusing on social responsibility. The market is just waiting for straight forward solutions to problems like high energy consumption and waste management. All these start-ups are doing is making the process simpler.

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