Free Research Report
Social Innovators in the US – Market Pulse Fall 2021
The Tech for Good Sector is resilient, and after strong growth in 2020, Social Innovators experienced a year of success in 2021 as people seek to do well by doing good.
Social Innovators is a broad category of individuals currently working as a founder, executive, or leader in a for-profit or nonprofit organization with an existing product or service available in-market which aims to address one or more social impact areas.
We specifically use the term social innovators instead of social entrepreneurs to be more inclusive of the community, which may not identify as social entrepreneurs as we have learned in our research and outreach efforts.
This exclusive research from X4Impact shows that Social Innovators are experiencing a year of growth in 2021 and have optimistic expectations as they seek to do well while doing good.
- 80% of organizations generate revenues via sales. Even if receiving donations, they are treated as catalytic grants as most donors expect nonprofit entities to become self-sustainable.
- A Business to Business –B2B subscription model is the preferred mechanism for generating sales.
- The majority of social entrepreneurs choose a for-profit model for their companies, and a third of Tech for Good organizations are structured as a 501(c)(3) nonprofit.
- Nearly two-thirds of organizations track social impact metrics in their measurement of success.
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