The three steps are:
1.) Initiate effective initiatives to activate the hunger for innovation;
2.) create collaboration technology to leverage data and incentivise participation; and
3.) create the right market conditions for the solutions to flourish.
This time for good, this time for mutual benefits.
There a a great many projects out there that want to reduce the negative impact we have on the world, even turn the footprint of human life into a positive impact of regeneration. From my professional experience I do believe that we can achieve more if we work together; and that we actually have to leverage this collaboration potential if we want to reach our goal to create a better social economic system.
I’d like to showcase an example of how this can be achieved: Together for Carbon Labelling is an initiative of market players. Where classical business might see competitors, we see companies with a shared goal and market. It is a prototype for a new type of initiative.
A study has shown that 60% of all greenhouse gas emissions are connected to consumer behaviour. More responsible and informed decisions can thus have a substanti, how companies behave and consequently great impact on our environmental footprint as a society in total. With the initiative Together for Carbon Labelling companies in the food industry join forces for more CO₂e transparency. The concrete aim of the initiative is to create an industry-wide standard for transparent communication of the CO₂e emissions of a food product. In doing so, we want to simplify the purchasing decision process for environmentally conscious consumers and support companies in identifying and reducing their CO₂e consumption.
The overall goal of this and the initiatives that follow its example on the European level, is to turn impact into the number one driver for economic success. And thus turn it into a KPI for companies that connot be ignored anymore. Revenue is not the only measure for success. More than that the reduction of companies their environmental impact is a measure for creating positive conditions for people and planet. And with initiatives like Together for Carbon Labelling we create the conditions that sustainable practises, sustainable products will become the market leaders.
It creates, of course, a huge opportunity on the social level. But also for market players that adopt these changes.
Learning from Social Media, from Web3 and the platform economy, we need a hyper connected infrastructure that connects incubators, corporates, funders, SMEs, startups, over all sectors to create impact together. Two years of research have proven that whole industry sectors could accelerate innovation, meet impact demands, and increase return on investment if there would be more concerted action and sharing of knowledge. We set out to solve this problem through a hyper-connected incubator ecosystem where incubation and support connect across corporates, funds, sectors.
The 10X IMPACT platform is created for that reason as a network initiative that connects incubators, investors, corporates and funders who are committed to develop industries into an impact-driven economy. Together, we co-develop the ecosystem and connect existing solutions with an overarching digital operating system that rewards collaboration.
For impact makers
10XImpact creates a trackable, traceable portfolio for start-ups and impact projects to accurately capture and communicate their progress and manage their assets. By showcasing milestones reached, and diverse assets attained, ventures showcase their true value and attract appropriate resources – gathering everything they need to succeed, with impact as a standard.
For impact enablers
10XImpact enables transparent investment in and non-financial support for impact projects through accurate valuation of innovation ventures. By devel- oping effective milestones, timelines and accurate financial needs, investors have a life, transparent overview of project worth, progress and output – and can invest accordingly.
The special feature of such a platform is that all market players, and basically anyone, can share their knowledge, their interest an skills, also their successes and failures on the platform with other projects. This way, every participant can learn and grow. The magic trick here is to incentivise participation and sharing: Everyone who shares earns virtual shares in the project that uses their assets. This way knowledge and contributions become an asset, a currency that can be traded, stored on the blockchain, immutable and unique like NFTs.
We will introduce impact measures KPIs alongside user traction and revenue. The platform will connect to structures out there inside and outside of companies, their communication and project management tools. It is not meant as a replacement, it rather augments and hyper-connects existing solutions into an infrastructure that allows to multiply impact through collaboration.
10XImpact invites four industry players from each sector to become founding members of the incubator ecosystem for a future that aligns profit and purpose.
A platform like 10X Impact allows the formation of a new kind of collaboration ecosystem. To support the development of market conditions that support the impact transition, experts from all sectors have to come together to cooperate transparently. This can be achieved by decentralised councils per sector, forming together a cooperative task force that could be called a Chamber of Purpose alongside the established Chamber of Commerce.
The concept is based on the activity by GermanZero a very successful NGO that is very active around the 2021 elections in Germany. Their aim is to prepare a law that enables Germany to comply with the COP 2015 Paris agreement. Current regulations massively fail to provide the required conditions. GermanZero works with thousands of volunteers and over 150 experts from academia and society. Their work supports the legislation that is necessary to transform the sectors of energy, production, mobility, construction, agriculture, as well as international relationships.
Such councils will be formed on the 10X Impact platform, guided my players in the impact field, such as the Global Impact Alliance. We see it as a fourth sector initiative, a for-benefit activity. The councils will orchestrate the work of citizens from society, political decision makers and activists from inside and outside the parliament, researchers from academia that have the subject matter knowledge to develop systemically relevant legislation, and of course market players that know the conditions they need to be act economically sustainable with impactful and sustainable products and services.
Investment in GreenTech, ClimateTech and Carbon-neutral products seems like the immediate way to push sustainability into the market. However, to achieve the impact we all strive for, we need to collaborate and we can’t do it with just one single solution. We need to be very active and take initiative. We need to create the right market conditions in order to be competitive on the global market. And we need to create the right tools, the technology in order to scale and empower a decentralised management of knowledge and impact.
This article is a call to all corporates, multipliers, incubators, funders and decision makers to invest their time, resources and financial assets into creating the right conditions to scale impact 10x.