Tech for good: the accelerator programme making tech give back

In light of the recent allegations against Facebook concerning the Cambridge Analytical scandal, the idea of “tech for good” may seem a bit far-fetched.

If anything, the latest outrage against tech companies means there should be more of an emphasis on tech for good, harnessing the power of technology to make our lives better, not worse.

One initiative doing just that is Bethnal Green Ventures. Based in east London, the company grew from hack weekends into a fully-fledged venture fund and accelerator programme, finding start-ups to fund and encourage growth.

With a focus on tech for good, BGV wants to ensure that tech companies are focused on giving back to the world, not just dominating our screen time.

BGV in the beginning: the buzz of hack weekends

Really, the journey of BGV began back in 2006, when Paul Miller, now CEO of the company, was launching his education technology (ed-tech) start-up.

“Back then it was a pretty lonely business. We would have benefited from being around other companies that we could share ideas with and learn from. And, it was hard to raise early stage money for what we were doing,” Miller explains.

It was this that led Miller to begin running hack weekends for people interested in using tech for social good. Coders and designers would show up, devote all their energies to building a new product, but then go back to their day job at the end of the weekend.

“Every weekend, there was always such a buzz,” says Miller. “But at the end, people were always asking the question, how do I quit my job and turn this into something I can work on full-time?

“This is what led to the start of BGV: helping people take that first step into building a social venture using technology. “

Getting BGV started

The premise is fairly simple: get start-ups together, give them some money, space to work, and connections to mentors and investors.

Back in 2013, the idea of tech for social good was fairly novel. Incubator and accelerator programmes were also few and far between, making the concept of explaining BGV a tricky job.

Yet, BGV benefited from good supporters in the beginning. For instance, Nesta, the innovation charity, began investing in the programme from the start. As well, Google offered BGV free space to house the teams in its Google Campus in Shoreditch.

“It was really chaotic but very good,” Miller explains. “As well, we had no track record at the time but the teams who joined us for the first cohort, they took a leap of faith.”

There were six teams in that first cohort in 2013, which included companies such as Fairphone, which produces an ethical smartphone; Dr Doctor, a smart appointment system for the NHS; as well as Mastodon C which uses big data for good.

“Those three have turned into really good companies,” he says.

The BGV accelerator programme and beyond

After a couple of iterations, Miller and his eight-person team have the programme sorted. BGV usually takes 10 start-ups per programme, gives them £20,000 worth of funding each, and hosts them in its Spitalfields co-working space for 12 weeks.

This funding comes from BGV’s three core funders: Nesta, the Nominet Trust which funds tech for social good projects, and the Big Society Capital which is growing social investment in the UK.

The start-ups work out who their product is for, how the business will work and make money, as well as how to communicate that message.

“The 12 weeks is just the start. We’re there as a lifetime supporter of the venture. We can put more money in as they grow, and draw on them for expertise as an alumnus of the BGV programme.

Thanks to the accelerator’s expertise now, BGV can also offer its help to similar initiatives across the UK. It recently worked with Facebook to help design and launch the tech giant’s first incubator programme in London, named LDN LAB.

“We’re super happy to be working with Facebook. It’s great for us because it helps us to build a relationship with a tech giant that has a lot of expertise that could be useful for our ventures, and its useful for them if we can help accelerate the teams they’re working with.”

BGV is about to launch its newest programme for 2018, which will launch in mid-April. Despite being five years on, the premise of tech for good is still core to its work.

In particular, BGV is looking for companies using emerging technologies like blockchain and artificial intelligence.

“We try to be at the bleeding edge of technology,” he says. “It’s interesting what people can come up with. A blockchain start-up we backed is tracing the impact of charitable donations, so people have more trust in where their money is being spent by charities.

“For us, it’s about the application of the technology rather than just using it.”

Since breaking the 100-venture benchmark, Miller says there are no plans to slow down.

“It’s a good group of people. And it’s still early days. We don’t know the ones that are going to be huge companies yet.”