More than half of Harvard's Innovation Labs incubator's graduates are impact entrepreneurs. There are 80 teams, but only 18 of the teams joined i-Lab's "social impact" track.
According to i-Lab's Jodi Goldstein in an ImpactAlpha interview, they have seen a steady rise in teams with social missions applying for the summer venture incubation program.
All of the ventures have the option of attending programming and working with advisors from other tracks.
The startups that have participated in Harvard's i-Lab since 2012 have gone on to raise more than $1.5 billion in funding. This year, social ventures are more industry-specific. Startups include ClearView, a tech startup that focus on visually-impaired students; Loro, which makes robot companions for people with mobility disabilities; and Abraze Manufacturing, which develops a process top create steel without CO2 emissions.
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Youths in the Middle East deal with the world’s social problems such as high youth unemployment rates. As a solution, some are creating new businesses with a social purpose, such as tackling environmental issues, illiteracy or health, while also spurring job creation.