The current situation of COVID-19 pandemic has affected nearly all businesses, especially startups. Some thrive, while some others need to strive to make ends meet for their companies. Despite a difficult period like this, it is vital for businesses, including startups, to give back to society. Corporate social responsibility does not only belong to giant companies, startups also bear the responsibility to make the world a better place. Fulfilling your startup’s social responsibility can give a long-term advantage for your business too, such as strengthening the relationship, building trust and loyalty with your surroundings.
So, what are you waiting for? Here are 5 ideas to commit to startups social responsibility amidst COVID-19 crisis.
1 – Offer free services or products
The COVID-19 crisis already had major impacts on public health and the economy that resulted in massive layoffs and even company shutdowns. While startups need to hold their business together, there is always room to help the society. For instance, if you have a small family business, you can help decrease unemployment by hiring local people who have lost their job or giving away your product for free. Or, if you run a tech startup, you can offer a free service for a not-for-profit organisation or small businesses that are striving amidst the pandemic.
2 – Innovate to fight the virus
Despite the downturn created by COVID-19, Anthony Millet said that many VCs are extremely excited to fund innovative startups. These investors include Adara Ventures, European Commission funding, Angel Invest, Digital Horizon, and many others.
With those numerous investors, it is time for startups to innovate, developing ideas or tools to help ease the public’s burden. Some ideas include developing an app to help secure companies from cyber threat or helping produce survival kits for the pandemic. Startup founders should also redefine their fundraising goals and timing because only the best companies and most exciting opportunities would get funded.
3 – Host online webinars, podcast, hackathon, or other community sharing sessions
Startups are known for their agility which can be beneficial for them to survive and rise again after a crisis. This knowledge of adapting fast to any situation could be shared with other companies, leaders, founders, or individuals via online webinars or podcast sessions. Helping each other to get out of the frustration and anxiety created by COVID-19 is one of the best ways to give back to society. Online events, such as mentoring, consultations, or simply networking with like-minded people, can also be a good agenda to have.
4 – Volunteer
Another idea for startup communities to give back to society is by developing a volunteer program to help those affected by COVID-19 pandemic, including elderlies who live alone, unemployed individuals, or those who lose their job. Startup communities can also start an act of delivering daily necessities for those who are unable to leave their home or encouraging people to donate blood/plasma to help with the vaccine acceleration.