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    Date submitted
  • 29-Sep-2017

BetaImpact

Abstract

BetaImpact is a cloud-based analytics platform to measure and manage social impact. Think IBM Watson or SAP Analytics Cloud with social impact metrics baked in. BetaImpact is a cloud platform for social entrepreneurs to gain business intelligence and predictive analytics insights while tracking and measuring social impact.

Additional Questions

Who is your customer?

Primary: social entrepreneurs and impact investors Secondary: NGOs, charitable foundations, government agencies, private corporations.

What problem does this idea/product solve or what market need does it serve?

The social innovation sector significantly lags behind other industries in use of big data. The market is siloed, lacks aggregate data, and the resources needed to measure social impact. Added to that, funders need access to the right metrics to assess grantees and potential investees.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Most social innovators identify the need to measure impact but the lack of resources. Measuring and reporting are done as separate activities from daily operations. BetaImpact combines daily operations software (customer metrics, financial planning, business intelligence) with impact measurement so that social innovators can use their limited resources efficiently, and make smarter choices so that they can scale and grow.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Combined with have 25 years working in the NGO, social enterprise sectors and the UN. Our Founder is an Innovation Fellow at MIT Sloan pursuing an MBA with a business analytics certificate. During her fellowship she will leverage the MIT network to get the idea off the ground together with a data scientist, AI, and machine learning expert. The goal is to have a working prototype by graduation (June 2018, which we will test with our extensive personal networks of impact investors and entrepreneurs.