Over the last decade, Fast Forward has shaped the tech nonprofit sector; plus a new category known as 'AI for humanity' emerges
SAN FRANCISCO, Feb. 27, 2024 /PRNewswire-PRWeb/ -- Fast Forward, which brings the tech and nonprofit communities together to deploy tech to solve humanity's biggest challenges, today released its tenth annual impact report. The report covers key 2023 milestones and shares insights into how Fast Forward has shaped the tech nonprofit sector and ushered in AI-powered nonprofits.
When Fast Forward was founded in 2014, the tech nonprofit landscape looked very different with only a handful of organizations in operation. Unique challenges – which had been unaddressed by the startup and the nonprofit sectors – created barriers to entry. Recognizing this problem, Fast Forward launched to bridge this gap. The organization's mission: to empower tech nonprofits to address the world's most pressing problems. Efforts have since catalyzed remarkable growth in the sector, with approximately 1K tech nonprofits now operating globally. Fast Forward's contributions, including new capital, resources, mentorship, and access to networks, have been pivotal in this expansion. Today, its portfolio boasts just shy of 100 tech nonprofits.
Decade of Social Impact Report
Fast Forward's 2023 supporters included Google.org, Hewlett Packard Enterprise Foundation, BlackRock, Bloomberg, Twilio.org, Okta, ServiceNow, Dell Technologies, Salesforce, Aphorism Foundation, Endless Network, Slavet Family, Schmidt Futures, Arrow Impact, Fidelity Charitable Catalyst Fund, HubSpot, General Motors, EY, Pinterest, eBay Foundation, Hewlett Foundation, Splunk, Akamai Foundation, UPS Foundation, Comcast Business, Arnold Ventures, Eleven Eleven Foundation, CTIA Wireless Foundation, DigitalOcean, Arrow Electronics, NewRelic.org, Dropbox, Walter & Elise Haas Fund, GitHub, and Altman Solon.
Key impact metrics:
- 186M lives positively impacted by Fast Forward's portfolio of tech nonprofits.
- $753M in follow-on funding raised by the portfolio.
- 1,172 tech leaders successfully engaged as mentors for tech nonprofits.
- Diverse founder representation achieved across Fast Forward's portfolio: 73% identify as people of color, 26% as Black, and 62% as women.
- 84% of Fast Forward's portfolio of founders have lived experience with the problem they are solving.
"10 years ago, the term tech nonprofit didn't exist–we made it up. Today, we've coalesced a community of people who believe in the power of technology to be a force for good," said Shannon Farley, Co-Founder and Executive Director of Fast Forward. "We've brought together funders, entrepreneurs, and advocates to advance ideas that make a big difference in people's lives globally. As we look to the future, we're eager to embrace 'AI for Humanity'–a new frontier where technology meets compassion."
Fast Forward Ahead
In 2023, Fast Forward welcomed a record number of Startup Accelerator applications. This applicant pool saw a notable increase in AI-powered nonprofits (APNs) compared with 2022. The trend highlights the growing interest in AI and serves as a bridge to Fast Forward's next endeavor: 'AI for Humanity.'
'AI for Humanity' is a commitment to harnessing AI as a force for global good. The initiative recognizes AI as a vital tool in addressing some of the world's most pressing challenges–promoting a movement where technology is not only advanced but also equitable and inclusive. To drive this movement, Fast Forward is poised to expand its team by 25%, including the addition of a new role–Director of AI Programs.
About Fast Forward
Fast Forward brings the tech and nonprofit communities together to deploy tech to solve humanity's biggest challenges. Through its annual flagship Startup Accelerator, Fast Forward equips a cohort of tech nonprofit startups with seed funding, mentorship, and community. Its portfolio includes nearly 100 tech nonprofits across every issue area, which have impacted 186M lives and raised $753M in follow-on funding. Its 'AI for Humanity' initiative further extends its mission by supporting AI-powered nonprofit leaders. With support from its partners, Fast Forward has invested $36M+ in philanthropic capital into tech nonprofits. Fast Forward's other programs and products include its Tech Nonprofit Job Board, Pitch Camp, Growth Accelerator, Tech Nonprofit Playbook, What's Good in Tech newsletter, AI for Humanity newsletter (coming soon), Weekly Resource Roundup newsletter, and more. Based in San Francisco, the organization was founded in 2014 by seasoned entrepreneurs Kevin Barenblat and Shannon Farley. For more information visit www.ffwd.org.
Media Contact
Zenetta Zomalt, Fast Forward, 1 9252864211, [email protected], https://www.ffwd.org/
SOURCE Fast Forward
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