Tech For Good
Influenced by technological, generational and social shifts, the future of work landscape is changing. Keeping pace with this change, the shifting priorities of today’s workforce now places greater emphasis on individual impact and wider societal benefit - providing companies in the ‘Tech For Good’ space with a unique opportunity to tap into a highly talented purpose driven cohort.
In many cases Tech For Good is defined as the use of technology to effect deliberate, positive social benefit. Zest Scientific aims to provide our network with the most interesting career opportunities, so naturally we’ve prioritised partnerships with organisations deploying technology to support decarbonisation or improve health outcomes.
>ClimateTech - European Funding
$36.6bn raised (2022) by European ClimateTech. Leading countries for funding: UK = $10.1bn | Sweden = $9.9bn | Germany = $7.4bn
>FoodTech - Funding Increase to $1.3bn (+20% YoY)
Venture capital investment into European alternative protein start-ups (2016-2023): Plant Based (57%); Cell Based (19%); Fermentation (17%); Mycelium (7%). Source: Dealroom, FoodLabs
>Digital Health (European) market expected to reach $32.6bn (1) in 2023
Investor activity has calmed with a 60% fall in funding in YTD 2023 from the 2021 peak (2). Source: (1) Digital Health Europe - Statista; (2) Dealroom
Tell me more I hear you say
The most active verticals which Zest Scientific supports sit under the ClimateTech, HealthTech, and FoodTech banners.
Decarbonisation
Thousands of companies have made public commitments to net zero, set science-based targets, or sought to demonstrate their wider commitments to society through B Corp status.
ClimateTech is defined as technologies that are explicitly focused on reducing Green House Gas emissions, or addressing the impacts of global warming. As Europe’s fastest-growing sector since 2017, climate tech has gone from strength to strength and activity in certain subsectors — from carbon capture to carbon accounting — even surpasses more mature ecosystems like the US market.
The numbers are positive with $36.6bn raised by European climate tech companies in 2022. It would be easy to surmise we’re at the start of an appealing cycle for the continent’s sustainability sector with the UK, Sweden, & Germany (Europe only) leading the way in terms of funding.
From Lab to Kitchen
According to United Nations predictions - the global population is expected to reach 9.7 billion by 2050. These figures strike an alarming note and highlight the need to develop alternative protein sources that are sustainable, nutritious, and environmentally friendly.
Current behavioural trends present challenges to the FoodTech sector as many remain unconvinced to alternative food sources yet the investment community remains undeterred. With a 50% increase in food demand expected by 2050 the FoodTech industry has seen significant investment (+30% in Europe) and with recent approval from food regulators in the US, Israel, and Singapore for cell grown meat, there is a strong likelihood that Europe will follow suit.
The FoodTech sector presents a wealth of exciting opportunities for the scientific community to undertake pioneering and impactful work which supports the world’s sustainability targets.
Health & Longevity
Technology has significant potential to improve health. The possibilities across HealthTech range from AI-powered drug research, which is pushing the frontiers of drug discovery, to personal lifestyle wearables that can help individuals monitor their health and track improvements. Technology can also ease access to health, including through telemedicine, and create new efficiencies and reduce waste in healthcare systems, whose rising costs are increasingly affecting living standards and putting pressure on public finances in some countries.
The argument for making the transition into the Tech For Good space is particularly compelling and if you’re looking to explore opportunities in this sector please do not hesitate to get in contact and we can walk you through your options.
