New research has shown that more needs to be done to support and fund charities looking to innovate with technology. The findings, published by innovation fund Nesta Impact Investment, include a series of recommendations for charities developing technology-based innovations.
It suggests that a broader engagement with technology across the charity sector will have widespread advantages, and will ultimately generate more funding through easily accessible systems.
The published report suggests the sector should build networks of charities with experience of technology-based innovation, and create trustee resources on topics such as technology and impact investment.
“We know some charities are fantastic at using tech but others are telling us that they really struggle to grow the impact of their innovations, especially when it comes to getting the funding they need. We look for charities and social enterprises that use technology to scale up their innovations through our social investment fund and we would urge funders to look at how they can also offer support,” said Isabel Newman, author of the report.
He added that charities are ideally placed to use technology to address society’s problems.
The report suggested that funders should create new funding sources for charities that are innovating using technology, and links should be built by funders and impact investors in order for charities to avoid funding gaps.
Similarly, it called for a wider ‘buy-in’ attitude towards technological innovations by senior management, and to remove reserved or reluctant views towards technological progression.
Professional expertise can help you stay ahead of the curb. New funding opportunities are readily becoming available to help charities grow, and it’s important not to miss out. At Nicklin, we recognise the role technology is going to play in the future of charities, and will help you realise its full potential. For more information, please contact us.