Tech backed by purpose-driven capital creates sustainable social impact: ACT Summit

Generative Artificial intelligence (AI) can present possibilities for growth of quality but affordable ed-tech, tailoring solutions to the individual and socio-linguistic needs of students is the need of the hour, it was observed at the ACT Summit.

ACT, a non-profit venture philanthropy platform, hosted the first edition of the ACT Summit in New Delhi, where a diverse set of stakeholders deliberated upon how technology, innovation and collaboration can help India address some of its most complex social issues across public healthcare, gender, education and environment. Over 150 participants including social entrepreneurs, impact investors, CSR professionals and sector experts agreed that technology, data and platforms, when backed by patient and purpose-driven capital, can create sustainable social impact that can reach billions of people.

“As ACT, we deeply believe in bringing a diverse set of stakeholders together to help India create social impact at scale. ACT Summit 2023 has been an incredible meeting of minds and ideas and we’re inspired by all the areas of collaboration that have emerged. We look forward to building these pathways further in our quest to catalyse meaningful change for Bharat," Aakanksha Gulati, director, ACT, said in a press release.

Participants like Ashish Dhawan of The Convergence Foundation, Rizwan Koita of the Koita Foundation, Mohit Bhatnagar of Sequoia Capital among others also observed that increasing India's female labour force participation can be made possible only if gaps in the existing data collection landscape are addressed. The availability of exhaustive and pertinent data can drive informed decision-making and higher levels of accountability, it was discussed.