The role of business shaping a post COVID-19 world

June 26, 2020

2020, the year of the black swan and the pending domino effect.

Amidst a global pandemic, climatic destabilization, widespread social inequality and economic uncertainty, humanity is at a tipping point. As a matter of urgency, we have to re-examine how we organize our society and economy. Furthermore, a critical examination of technological innovation and entrepreneurship is imperative.

The COVID-19 pandemic is highlighting the interconnectedness of our world
The COVID-19 pandemic is highlighting the interconnectedness of our world and the need to prepare our people and the planet for intertwined socio-economic and environmental risks.

How can technological innovation and entrepreneurship drive meaningful change? By leveraging these values and being proactive in the ideation of new ventures, the private sector can help solve fundamental challenges with a triple bottom-line approach. Furthermore, these challenges may hold substantial market opportunities.  

Designing business models in response to the multiplicity of global crises

Today’s entrepreneurs are faced with difficult decisions as they attempt to absorb losses, steady cash flow and balance the needs of their stakeholders. Solving complex socio-economic and environmental problems, requires a deep science and strong interdisciplinary approach. Venture builders enhance access to interdisciplinary talent and risk capital through the formation of global networks. This optimizes capital efficiency and subsequently an entrepreneur’s chance of success. Satgana is a venture builder, striving to solve wicked problems, i.e. poverty and inequality while cultivating attractive opportunities for impact investing.  

A slum lines the Mithi River, India
A slum lines the Mithi River near the National Stock Exchange in Mumbai. The city is home to both a 27-story, $1 billion palace and the largest slum in Asia.

In response to the COVID-19 pandemic, the best practices to maximize credibility and profitability have been outlined by various sources. However, the underlying message is clear – we must explore alternatives to current capitalist structures and create long-term shared value for all. An urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis has led the World Economic Forum to establish The Great Reset initiative. It outlines the current socio-economic context, the crossroads decision-makers find themselves at, and the various opportunities presented that will determine our future.

Using innovation and technology to build a better world

From artificial intelligence (AI) to the internet of things (IoT), innovation and technology are not just required for streamlining business processes and reducing operational costs. It is now a vital aspect of driving business growth. Equally important, is knowing how to tap into this ever-evolving resource. Innovation and technology provide data-driven insights and scalable solutions that can challenge the norms, influence processes and facilitate change. Businesses must seize this unique opportunity to shape the future by blending innovative technology with human-centric approaches to improve diversity and equity. Through its global network of stakeholders, Satgana seeks to promote innovation and technology to support sustainable livelihoods. It aims to inspire economic activity that creates value and confronts societal challenges.  

With the decade of action already underway, businesses must use their networks and resources to solve the planet’s most urgent issues and inspire others to do the same. To address the critical and complex problems, emerging venture builders will be guided by the SDG framework; designing business models that fundamentally challenge the status quo. Through its diverse global network, Satgana aims to inspire value-driven entrepreneurship that creatively solves urgent social and environmental challenges.