Scottish businesses fight Coronavirus
Some of Scotland’s brightest early stage mission-led businesses are stepping up in the fight against COVID-19, as part of the business community’s pandemic response.
Brewgooder, Talking Medicines and Good Loop, have all risen to the challenge of adapting their businesses to support those affected by the COVID-19 pandemic, applying their purpose-driven approach to support those in greatest need.
The three mission-led businesses all received investment in 2019 from SIS Ventures’ Impact First Fund – the inaugural fund from SIS Ventures. The organisation invests for financial, social and environmental and impact creation, applying a unique approach to supporting the impact aspirations of its investments.
As high growth potential businesses with purpose at their heart, all three businesses backed by SIS Ventures, and many others like them, are increasingly proving both their economic and social value during a time of national crisis.
Purpose-driven craft beer brand Brewgooder, responded to Covid-19 by launching One On Us – enabling customers to donate a round of drinks and a message of support to NHS Champions. In just four weeks, more than 6,000 four-packs of clean water lager have been paid forward by the public for NHS staff to claim.
Edinburgh-based Good-Loop is a programmatic video, social and rich media solution, connecting viewers and brands through ethical, high-quality formats - all while giving 50% of revenues to charities.
Good-Loop has responded to the pandemic by launching a ‘watch and donate & beat COVID-19’ campaign. Viewers of online brand content are able to donate 50% of the advertising revenue from that view to high-impact charities which fall within three ‘frontline action areas’ – protecting the vulnerable, supporting local food banks and funding international research. As brands look to advertise sensitively and appropriately during the pandemic, Good-Loop has seen a 100% uplift in like-for-like revenue in April 2020, compared to the same time last year.
Talking Medicines is a data-insight generating healthcare technology company which captures the voice of the patient. One of Talking Medicines’ offerings is the award-winning Medsmart® App which allows patients to better manage their medicines at home. To date, more than 85,000 patients have downloaded the app in the UK, enabling them to take more responsibility for their healthcare, whilst at home. Use of the app has been particularly high during the COVID-19 pandemic.
Talking Medicines has been engaged in regular consultation with its community to capture their voice during the lockdown and learn about the impact of COVID-19, particularly for those shielding and self-isolating. The mission-led business is also supporting carers within the home care sector by launching an app-based solution called Care Connect Call. The app is aimed at helping carers to safely schedule, call and track video consultations, better enabling them to maintain care for patients at home during COVID-19 and beyond.
Alastair Davis, Chief Executive of SIS Ventures, said: “It’s reassuring to see all three of these businesses harness their purpose-based approach to support the wider pandemic effort during these unprecedented times. And just as a business will need to shoulder more of the responsibility as our society and economy try to recover from this pandemic, I truly believe that businesses with a mission to benefit people and the planet can play a much more central role in the rebuilding of our economies worldwide.
“Investors too will increasingly see the value of such businesses whose long-term outlooks, rather than short-term shareholder focus, making them more resilient during times of crisis.
“Here in Scotland, we are fortunate to have some really exciting young businesses and entrepreneurs, bringing with them a new way of thinking about economic growth and success. It would be remiss of us not to nurture these businesses and ensure that they are central to how we think about, build and grow a more sustainable economy in a post-COVID-19 world. Such a long term approach can only be a good thing – for investors, our economy, the environment and society.”
The UK Social Entrepreneur Index is a celebration of social entrepreneurship across the UK.
Open to social entrepreneurs tackling a social or environmental issue at any scale, entrants will act as beacons of inspiration for others to encompass positive social impact.
For more info visit www.socialentsindex.co.uk.