Social & Tech Entrepreneurship
- Social Impact is increasing in importance to entrepreneurs and businesses worldwide, particularly young entrepreneurs.
- World leaders came together in 2015 and made a historic promise to secure the rights and well-being of everyone on a healthy, thriving planet when they adopted the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals (SDGs).
- The Sustainable Development Goals are a call for action by all countries to promote prosperity while protecting the planet through strategies that build economic growth and address various social needs, including education, health, social protection, and job opportunities while tackling climate change and environmental protection.
- Greatest promise for growth and economic impact found among technology-focused ventures:
- Engineering: The global engineering services market is projected to grow from $707.5 billion in 2020 to $1,268.4 billion by 2025.
- Medical/Health Tech: The healthcare technology market is expected to reach $660 billion by 2025.
- Education Tech: The global edtech market size was valued at $89.49 billion in 2020 and is expected to reach $285.2 billion by 2027.
- IT/IS: The information technology sector is projected to grow at a rate of 5% annually, reaching a market size of $5 trillion by 2025. Key areas of growth include cloud computing, cybersecurity, and AI.
- Sciences: Investment in scientific research and development is increasing globally, with significant contributions from biotechnology, environmental science, and space exploration. The biotechnology market alone is expected to reach $727.1 billion by 2025.