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Tech for Social Good, the Accelerator of the Development of Impact Investing

:2019/05/19

Recently, Pony Ma announced in his movements that Tencent's new vision and mission is Tech for Social Good That tackling the most pressing social problems with high-tech means to help those in need has undoubtedly become a major proposition for all large companies and also a major challenge for the investment in poor markets.


On the afternoon of May 8, 2019, the 12th Philanthropy-based Salon was held in Beijing by China Global Philanthropy Institute and China Philanthropy Research Institute of Beijing Normal University to focus on the integration of Tech for Social Good and Capital for Social Good, and discuss "Tech for Social Good X Capital for Social Good = Innovative Means to Solve Social Problems?".



Fu Changbo, Assistant Dean of the China Global Philanthropy Institute, Qiao Qian, GPL trainee of China Global Philanthropy Institute and Chairman of Beijing Golden Bridge Investment Co., Ltd., Hou Wei, Industry Solution Tutor and Microsoft Accelerator Technical Advisor, Lu Qi, partner of Tsing Capital; Zhang Xiaoran, project leader of Kuaishou Corporate Social Responsibility Department and executive director of Kuaishou Social Value Research Center, and other guests developed dialogues focusing on the topic of Tech for Social Good, impact investing, and technology innovation to solve social problems, ect., Zhang Mingmin, Senior Reporter of China Philanthropy Times hosted this salon.


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Impact investing, which is becoming more and more popular in the world in recent years, also has a great development momentum in China. More and more institutions take social influence as an important consideration when they invest. But could capital give support to technology while solving social problems at the same time? Should investment in science and technology benefit while social problems are being solved? Can the integration of Tech and Capital for Social Good create more powerful solutions to social problems?



The concept of impact investing


In 2007, the Rockefeller Foundation pioneered the concept of impact investing. At present, impact investing involves many tools and evaluation systems. As Professor Fu Changbo said that, China, at the present stage, can get positive returns in the investment of a certain aspect of society and form a business closed-loop investment with returns, which is regarded as a concept of extensive impact investing. "



Fu Changbo, Assistant Dean of China Global Philanthropy Institute


Mr. Qiao said impact investing is mainly made up of two words: influence that emphasizes altruism, and investment that emphasizes self-interest. They can be seen as 1 and 0, while impact investing takes the golden section ratio of 0.618. "This is a time when social value is leading the way in business value. Good job in an investment project doesn't mean a low return on your business, which is something that needs to be explored."



Qiao Qian, GPL trainee of China Global Philanthropy Institute and Chairman of Beijing Golden Bridge Investment Co., Ltd.


The concept of impact investing is becoming more and more popular. Ms. Lu Qi believes that impact investing or socially responsible investing, in a broad sense, means doing investment with a good original intention. There are several prerequisites for the narrow concept, which are deciding what kind of investment to make before investing to decide the selection criteria guiding these objects to good development before and after investing to create a successful business, and both commercial and social values can be quantifiable, which is a narrow sense of successful impact investing.


Zhang Xiaoran, a representative of technology companies, views this concept from the perspective of practitioners. She believes that practitioners are the builders of buildings, and the building's lighting and ventilation and other "principle issues" can better guide the builders to do things well and solidly.


Zhang Xiaoran, project leader of Kuaishou Corporate Social Responsibility Department and executive director of Kuaishou Social Value Research Center.


Mr. Hou Wei, from Microsoft Accelerator, argues that impact investing, on the one hand, is supported by capital pool; on the other hand, can promote social value. But it will yield no greater returns than traditional investments.



Which project does impact investing prefer?


The Global Good, backed by Bill Gates, is called "invention for the dignity of all mankind," worked closely with the Qingdao AUCMA to produce Arktek unplugged vaccine storage buckets for use in any environment with unstable power supplies and extremely inconvenient transportation. For Global Good, which issued the invitation, it invested in technology that could solve social problems.


"In recent years, healthcare and smart city have been the growth points of impact investing." Hou Wei said from the perspective of Microsoft Accelerator.



Hou Wei, Microsoft Accelerator Technical Advisor and Industry Solution Tutor


Professor Fu Changbo believes that all 17 SDGs of the United Nations require funds, each of which concerns global sustainable development. "I am delighted to see Mr. Pony Ma launched the initiative of "Tech for Social Good". As a great leader, Tencent has a lot of capital, leading technologies, and its focus on "Tech for Social Good" will promote the faster development of impact investing."



From the investor's perspective, Mr. Qiao Qian believes that there are three rigid demands for the projects of impact investing. The first is the demand for health, the second and the third are for children's education and wealth preservation & appreciation respectively. The standard of a good project is that the project can solve the people's livelihood problems and the crisis of trust in society by high-tech means. "We are living in a modern society seeing fast development, and an era of technology informatization. Science and technology may be the biggest dividend of this era."


Lu Qi points out the big difference between the new generation of investors and the previous generation of investors: Students from some of America's top schools become interns at Tsing Capital since they are so committed to the idea of impact investing and don't expect to be investors just for financial returns. From its own demands and the needs of enterprises and industries, it is easy for impact investing to find its development problems, which not only help to solve social problems, but also achieve financial returns.


Lu Qi, Partner of Tsing Capital


Government concern is the booster for impact investing.


At the first Impact Investing Summit co-hosted by the China Global Philanthropy Institute and the Fengqun Internet of Things Philanthropy Foundation in 2017, Futian District proposed that it would take the lead in issuing impact bonds nationwide. As the highland of impact investing, Futian District influences the development process of social influence in China from the government level.


"Promoted by the China Global Philanthropy Institute, under the strong advocacy of He Jie, director of Shenzhen Local Financial Supervision and Administration , Government of Futian District of Shenzhen city issued "Suggestions on Building a Social Impact Investing Highland in Futian District", which contains many encouraging policies. This is China's first government policy document on impact investing. "Professor Fu Changbo believes that government advocacy is exemplary. "National non-commercial banks are huge impact investing funds, and government-led funds are impact investing funds with Chinese characteristics."


Fu Changbo, Assistant Dean of the China Global Philanthropy Institute, presented and shared the book of "New Frontiers of Philanthropy: A Guide to the New Tools and Actors Reshaping Global Philanthropy and Social Investing" at the Philanthropy-based Salon.


Tsing Capital began impact investing more than a decade ago, with international development banks and family offices representing the government as its first backing. Up to now, Lu Qi still believes government and family offices, as well as high-net-worth people are pioneers in advocating impact investing.


Hou Wei believes that the government guidance in direction and information is to want to give a strong impetus to institutions and investors engaged in impact investing.



Watch IFENG Live from https://zhibo.ifeng.com/video.html?liveid=126719 for more contents of philanthropy-based Salon


https://zhibo.ifeng.com/video.html?liveid=126719



Philanthropy-based Salon is sponsored by the China Global Philanthropy Institute and the China Philanthropy Research Institute of Beijing Normal University, maintains strategic partnership with Xinhuanet, GMW.com, IFNET.com, Sina, etc., based on the educational resources and the alumni resources of China Global Philanthropy Institute, focusing the philanthropy hot spot, dialogues with industry authorities, records the viewpoint exchange, promotes sharing development, analyzes philanthropy hot spot event, pays attention to the profession in-depth topic, devotes to guide the development of Chinese philanthropy public opinion.



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