Product for Non-Profit

The perception towards, let’s say, profit sector and the non-profit sector is that it is assumed or perceived that there’s a lot of more innovation that happens in the for-profit space.

Considering the amount of capital, the amount of money, and human skill sets that are in it. 

So there is a bias towards that the innovation happens in the for-profits space. 

However, he thinks the tides are switching greatly.

So much in such a way that the wins are mostly towards the non profit sector nowadays.

Because we are at an increasing realization of the fact that most of the critical problems that you're facing currently are something that the non profit sector is trying to solve, and it would not be able to solve without bringing in the critical innovations that is there around.

If it is not being a part of the profit sector, but unless we incorporate it together, it might not be there.

So in that manner, products in the social sector space, product for non-profit organization, is a new trend that's been emerging.

Largely because of, let's say, lack of funds, lack of resources, lack of even skill set that was a part of it.

There has been a lack.

But now there is a significant shift in towards more people wanting to work in the social sector, more grants and funding that is going towards the social sector that is increasing, the opportunity of products that are developed. 

The second aspect is also that, these products, while as much as it is solving for the problems that the for-profit is working towards, which is to, let’s say, user attention, user engagement, acquisition, et cetera.

What makes it important or critical here in a non-profit sector is that, it brings in an aspect of understanding the human to a deeper extent that is towards impact. 

So impact becomes the larger goal than any other business goal.

It is there as a part of it.

So keeping that as the core metric is, it does becomes challenging, in order to solve for that goal through technology. 

And of course, there have been several products in the nonprofit space.

In every other domain.

In education, agriculture, healthcare, and organizations are taking that as increasing inspiration, in order to achieve a lot more innovative things and effective solutions.