Issue #11

📰 FRONTPAGE

Welcome to the eleventh issue of Chronicles, your passport to the world of social impact, innovation & entrepreneurship.

In this fortnight’s rundown:
🧠 Part 2 of Storytelling for Startup- Crafting Narrative
💬 AgeTech
👇️ Khyaal
🆕 Vive la révolution: Stay Tuned!

🧠KNOWLEDGE SPOTLIGHT

Crafting Narrative

🔑 Our previous articles gave an introduction to Storytelling. Let's focus on the next piece in the jigsaw puzzle: Crafting Narrative.

📝 What?: This foundational process is essential for effectively communicating your mission and engaging your audience. A well-crafted narrative can be the cornerstone of all your communication efforts, providing clarity & consistency in your message.

🕵️‍♀️ Achieving It

• Identifying Your Story: Begin by pinpointing the core message of your social venture. What is the essence of your mission? What challenges and successes have defined your journey? Your story should reflect the heart of your organization’s purpose.

• Target Audience: Understanding your audience is crucial. Who are they? What are their interests, values, and concerns? Tailoring your narrative to resonate with your audience ensures your message is relatable and compelling. (Refer to our previous articles on identifying your niche & target audience)

• Authenticity and Transparency: Authentic stories build trust. Share genuine experiences and real challenges. Transparency about your struggles and successes makes your narrative more relatable and impactful.

👌 Why It's Crucial?: Crafting a well-defined narrative allows your organization to connect deeply with your audience, evoke empathy, and inspire action.

Stay tuned for our next issue, where we will explore the structure & elements of a compelling story.

Facts & Figures

🔎 The organisation offering the”Study-Now & Pay-Later” model is improving the accessibility of education amongst weaker economic strata.
💰According to the Buy Social Corporate Challenge Year 8 Report, ~£500 M has been spent on products and services of UK social enterprises by some of the world’s biggest companies since 2016
📈 According to OECD report on social impact, 5.4% of France’s GDP is contributed by the social impact sector.

💬 INNOVATIONS

AgeTech: Improving Lives of Elderly using Tech

Thanks to advancements in healthcare, people can live longer than ever in human history. How can we ensure that a “longer life=better life”?

🌍 What: Age tech encompasses technologies designed to improve the lives of senior citizens. AgeTech isn't just about adding years to life, but life to years. Agetech includes a huge domain of industries relating to the elderly such as healthcare, wellness, housing, insurance, communications etc.

🌱 Why embrace it?:

1. Aging Population: The global senior population is growing rapidly, necessitating solutions for health, mobility, and social engagement.

2. Quality of Life: Enhancing independence and reducing the burden on caregivers significantly improves seniors' well-being.

3. Combating Social Isolation: Innovations in AgeTech can foster social connections, reducing loneliness and improving mental health among older adults.

📊 Industry Insights: Even though no credible market research has been done on the future of agetech (current valuations too face this problem, with analysts claiming the current valuation from anywhere between $1Billion-$3Billion), AgeTech is slowly & steadily will take to the forefront due to longer lives of people.

👇️ STARTUP IN FOCUS

Khyaal: AgeTech with an Indian Touch

🌱 Who: Khyaal is an Indian-based AgeTech startup founded in 2020 by Hemanshu Jain & Pritish Nelleri. Their mission is to engage, educate, and empower seniors, thereby adding life to years.

🔬 What are their products & services?

1. Senior Citizen-friendly App: They provide multiple features - Fun games and educational sessions, curated travel plans, On-demand assistance, and part-time jobs - to name a few

2. Senior Specific Products: They have a wide set of products like medical gels, food items, personal care, etc tailored to fit their needs. They have partnered with multiple solution providers and have come up with effective solutions to help people lead a happy ageing experience.

🏆 Success: Khyaal was named Google Play Best App for the Good 2022. The app claims to have about 1 million active senior citizen users. Recently they raised $4.2 million from a funding round co-led by 62 Ventures.

🆕 SOCIAL UPDATES

Vive la Révolution: Stay Tuned!

We have decided to postpone Decoding Social Entrepreneurship 3.0. We will be informing new schedule soon, so stay tuned & bring impact!