Social Impact Startups in Korea That You Ought To Know
Lately, investors are not only concerned about making money. A number of them have already made all the money they could need and therefore, are looking to generate social and environmental value. Korea’s impact investing sector is developing, and there are several Korean VC firms and impact investors focusing on social ventures that can change the world.
Social impact startups bring positive social and environmental impact while generating potential financial returns. Therefore, social impact entities can be in industries like education, clean energy, health, affordable housing, among others. As startups in Korea tend to look into overgrowing and generate immediate profits, social impact startups in Korea do not focus on financial gain only. Their main intentions lie on acting charitably and having a positive impact.
Several social impact entities in Korea are working in the fields of social innovation, social entrepreneurship and social change. These startups are focused on doing good deeds and coming up with new techniques, concepts and ideas to meet social needs. Therefore, here are some of the top ten social impact startups in Korea, their rankings comprised by the Seoulz staff based on four factors; market opportunity, growth potential/scalability, funding and the innovation of service or product.
The first Korean social impact entity is DOT, the creator of Dot Watch, a digital smart braille watch. More than 400 million people globally cannot read a watch face. Dot Watch uses braille, having their dots rise and fall to spell out braille words four characters at a time. Besides, it gives real-time updates from whichever device it is connected to; therefore, users can receive emails, social media alerts and texts instantly.
It can also display the time and date, has a stopwatch, a timer, an alarm and even some braille technology. Also, the Dot Watch Braille learning program is an accessible intuitive and entertaining mode of learning and practice of the Braille letters and words.