“At the heart of what we do is the belief that technology has the potential to transform the way we approach solving the world’s most pressing environmental and social challenges.” (BGV).
Mappd was welcomed on to an accelerator programme hosted and ran by Bethnal Green Ventures (BGV), an investment firm that advises and mentors companies with ‘Tech For Good’ in mind. Provided with pre-seed investment and joined by 8 other start-ups, BGV invest in companies who can radically impact the social, health and environmental space with the ambition and potential to impact millions of lives.
BGV has invested in many companies who are accomplishing great things such as FairPhone, who produce modular smart phones to combat the illicit mining of conflict minerals. The phone is designed to be easily repairable and upgraded, eliminating the need for consumers to repurchase their devices. FairPhone is very much consumer centric, which we feel is a strong reason for BGV’s successes and which will ultimately be, Mappd’s success too.
BGV’s investment philosophy focuses on 9 principles;
- Be early – Even though all start-ups have some degree of risk attached to them, BGV can help entrepreneurs develop imaginative and interesting technologies to become sustainable businesses that continue to make a significant impact on people’s lives.
- Understand the problem – Identifying a real problem and having in depth knowledge of how you can design the solution to serve the genuine needs of a customer.
- Don’t ponder, do – Being pragmatic and not being afraid to get things wrong. Taking feedback and constructive criticism on board and without taking it personally encourages any assumptions or hypotheses to be tried and tested in order to move forward.
- Be part of something bigger – Being passionate about developing technologies that can really change someone’s life is something to take pride in doing.
- Be generous – BGV is always looking to help people, building communities with easy access to support which is crucial in nurturing early stage start-ups.
- Champion diversity – By investing in an array of radical health, social and environmental solutions, it is not just a way to put eggs in separate baskets. It builds knowledge from different perspectives and ensures they are able to understand the real problems that exist.
- Be responsible – Acting with integrity, fairness and respect is how everyone should strive to act. Sometimes it is required to lead by example in order to encourage these values more.
- Take the long view – Understanding there are no quick fixes when tackling difficult issues is crucial to making the end result the most impactful and efficient solution for the customer.
- Be open it makes things better – Sharing successes, ideas, intentions and failures is how we grow and improve. Not only boasting your successes but expressing your failures and sharing your learnings means you and your peers can utilise proven avenues or avoid potential pitfalls.
As the founders of Mappd, we must of touched on each of these principles which has motivated us to achieve what we initially set out to do. Adopting BGV’s principles even more so now, we are confident we will continue to progress.
We try to constantly put consumers first. We know that many of us have become disconnected with our digital selves and disenfranchised around the subject of personal data. This is because the systematic nature of companies and organisations is to collect our personal information and the reach of our online identity is too large to comprehend, let alone effectively manage. The problem emerges when serious consequences arise from our information being obtained by fraudsters or mishandled by organisations, something that has happened personally to one of Mappd’s founders.
This is why Mappd is doing its part in the advancement of democracy and championing civil rights. Our platform aims to centralise your digital identity, enabling the user to easily locate, efficiently access and effectively reduce their personal data. Going forward, we will eventually be a central repository for all personal information which means an open and transparent channel between a customer and a company that requires personal details. The most important part is, that customers will ultimately have control over what is theirs.
So far, through attending the workshops that BGV host which compromise of previous alumni and successful start up founders, we have been gathering customer insights to really understand what motivates our potential users. This has caused us to take a step back and really focus on the foundations of our platform and optimise the user experience for taking that end to end journey.
We are reaping the benefits that BGV is providing Mappd so that in future we can make a positive impact on people’s lives. With the guidance that BGV are giving, we have no doubt that we can scale the Mappd platform to become the go to digital identity management provider for everyone.
If you want to find out more about BGV, visit there site at: https://bethnalgreenventures.com/