Posts tagged Valley

Chelsea Clinton To Silicon Valley: Hey, You’re Supposed To Be Changing The World

While Silicon Valley obsesses over which social app Facebook will acquire next for $19 billion, an unsung fleet of entrepreneurs and philanthropists are doggedly working to empower the developing world. Chelsea Clinton took the stage at SXSW 2014 to highlight the tech industry’s vast potential for social good on a global scale.

Unsurprisingly, it’s not all glamorous work—Clinton said the word diarrhea no less than ten times in her hour on stage—but the stakes couldn’t be higher nor the time more right.

“Throughout the 20th century, individuals who wanted to engage in philanthropy had limited ways to do so,” said Clinton, former first daughter and current vice chair of her family’s philanthropic powerhouse, the Clinton Foundation. “Technology has disrupted the very nature of how we can improve the world by empowering individuals to make a difference,” she said. “Giving, volunteering and contributing all have been democratized like never before.”

Thinking Outside The Snowglobe

Many challenges in what Clinton calls the “development space” would probably never occur to those head down chasing exorbitant rounds of venture capital for the next Big Big Thing. Take, for instance, Sproxil, a service that provides citizens of Ghana, Nigeria, Kenya and India to authenticate medications through simple text messaging. Sproxil tackles a challenge with a human price of 700,000 deaths each year, largely due to counterfeit anti-malerial and TB drugs.

Other segments of development tech are better known. Kiva, a microfinance non-profit, lets ordinary folks lend small amounts of money to create opportunities and ameliorate poverty in 73 countries. M-PESA, a small value payments and store of value service, brings banking to Kenyans with even the most basic mobile phones.

Toppling The Silos

Clinton stresses that while “first” may be best in Silicon Valley, best is actually best in development tech. Creating an efficient, thoughtfully conceived tool—one that’s affordable, easy to distribute and meets the particular needs of a developing zone—is far more critical than being first out of the gate.

Many of us take cultural privileges like reliable pharmaceuticals, loan institutions and ready access to basic banking for granted. But in the developing world, these tools are powerful beyond imagination. Getting them right is important. So is a spirit of collaboration rather than the hyper-competitive silo mentality held by much of the industry.

Quantifying Change

Yet another huge challenge in the field of development tech is a dearth of data, which makes it hard to just to get a handle on the challenges at hand—never mind tracking progress. “It’s hard to standardize data that doesn’t exist,” Clinton said.

While developed nations are quantifying the minutiae of their morning runs and TV habits, over in the Congo, two-thirds of births aren’t ever recorded. Robust, big, aggregated data is a steep obstacle in countries that still struggle to meet far more basic needs than quantifying their own problems.

Political corruption in many of these development zones is systemic, which makes international aid efforts tricky. Easy, transparent technology systems that track where the money goes is another layer to tackle. “Technology has the potential to revolutionize the way development measures, reports and analyzes the success and failures of its work,” Clinton said. “I know that the work we’re doing [at the Clinton Foundation] has impact because we’re obsessed with tracking data and results.”

These are tough problems, but they’re certainly not impossible to solve. The biggest problem of all? The fact that the tech community hasn’t yet disrupted what disrupts so many lives in the developing world.

Lead image by Taylor Hatmaker for ReadWrite

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10 Reasons You Need to Attend SMX West – March 11-13 in Silicon Valley

Internet marketing success means knowing what works, testing what’s new and measuring everything.   Search Marketing Expo – SMX West is where professional internet marketers like you go for the latest tactics for increasing visibility, traffic, conversions and sales. Here are 10…

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