Tech for Good’ is an ever-growing field of interest for investors, particularly in times where pressing social and environmental concerns require the pace of innovation adoption to accelerate. Tech innovations traditionally lean towards looking to disrupt through finding new efficiencies, leaner business models, or disintermediated consumer relationships. Tech for Good is a movement that seeks to leverage tech to build fairer, more inclusive and more transparent societies. At Fair By Design, we focus on one specific problem: the Poverty Premium. People in poverty pay more for a range of products, including high-cost credit; rent-to-own products such as kitchen appliances; and insurance in less affluent postcodes - this is known as the Poverty Premium. Fair By Design(FBD) is a movement dedicated to reshaping essential services such as energy, finance, and insurance, so they don't cost more for households on lower incomes. FBD consists of two separate streams that are working together to eradicate the Poverty Premium in the UK: The Campaign is hosted by the Barrow Cadbury Trust and collaborates with industry, government, and regulators to design out the Poverty Premium, and raise awareness amongst the public to bring about change. The Venture Fund is managed by Ascension Ventures and provides capital to help grow innovative and scalable ventures developing products that help make markets fairer.
The 2020 Mobile World Congress (MWC) technology show has been cancelled after a growing number of firms pulled out over coronavirus fears. Some 100,000 visitors attend the event every year in Barcelona, but companies including Amazon, BT, LG, Sony, Intel and Facebook withdrew due to concerns about the outbreak.
US federal regulators are stepping up their investigation of the market dominance of five giant tech companies, demanding detailed information on their acquisitions back to 2010. The Federal Trade Commission (FTC) has issued orders to Facebook, Amazon, Apple, Microsoft and Google’s parent firm Alphabet.
Amazon plans to invest $1.6 billion (£1.23bn) constructing two data centres in India to form an AWS region in the state of Telangana.
The company has sought environmental approval for the construction of the two facilities on the outskirts of Hyderabad. One data centre is proposed at Chandanvelly village in Shabad, the other at Meerkhanpet village in Kandukur.