The impact of unresolved global challenges is growing. Neither markets, nor NGOs, nor governments alone can solve the challenges we all are facing. These challenges are captured in the 17 SDGs. UNCTAD estimates that 2500 billion dollar need to be invested to achieve these goals. You have read it right; nobody will solve this on their own.
The Hague’s ImpactCity is keen on changing the way the world tackles global challenges. In our city innovations are linked to SDGs, we develop innovations for a better world. UN city The Hague is also known as the international city of peace & justice.
We have integrated the SDGs with the expertise we have built up in the past 100 years. Through collaborations of UN institutions, government, NGOs, knowledge institutions, companies (big and small) and investors our ImpactCity is rich of. For more than a century our core business has been doing good. As challenges grow, opportunities do as well. Many partners ventured in technology and innovation, which potentially offer non-traditional solutions for non-traditional challenges. That is where doing business comes in.
SDGs on the building of FMO, the Dutch Development bank
Make no mistake, this is no linear input output process. Co-developing and implementing these technologies in specific areas requires an ecosystem approach. Which is exactly what The Hague has substantially invested in for years. It is called Impact Economy, with doing good & doing business in its core.
As no time can be wasted The Hague decided to invest in the crucial element to speed up and gain traction: foster the growth of entrepreneurs.
“Startups are frontrunners in delivering on SDGs”
– Minister for Foreign Trade and Development Cooperation, Sigrid Kaag
Focus is key. At ImpactCity we empower entrepreneurs working on making the world better by easing access to capital, talent, expertise and visibility. Think of data intelligence and blockchain to improve humanitarian aid , or using the sea we live by as source for food and sustainable energy.
Government and startups join forces for SDGs
We are proud to be home to the national government who for instance announced the SDG based strategy for foreign trade & development cooperation the coming years involving additional funding for climate action and innovation within the humanitarian aid sector. ImpactCity will introduce additional funding schemes in the summer to finance co-innovation projects of NGOs and startups.
Governments are key to initiate and accelerate relevant innovations, not only because we invest counting on long term return on investment. Based on the relevant expertise and infrastructure The Hague also invests in short lines with the UN in order to link innovation to the SDGs.
That is why we will participate in the UN multistakeholder forum on Science, Technology and Innovation for the SDGs June 5th and 6th.
Follow us and join our conversations on Twitter: #ImpactCitySDGs!