This week in our "Startup Spotlight", we feature Jooin, a startup focusing on addressing the crucial need for ESG data collection and the promotion of social value. As the startup ecosystem in Asia continues to evolve, Jooin emerges with an innovative solution to provide transparency through blockchain technology and foster a community around ESG values. In our conversation, Alvin Huang, the driving force behind Jooin, elaborates on their unique approach, their vision, and the challenges they've pinpointed in today's market.
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Could you provide a brief introduction to your startup?
Alvin: Jooin Co., Ltd. has developed an app and database with a particular focus on enhancing social value in the ESG landscape. Our tools are crafted to assist organizations in collecting and managing their ESG data more effectively.
What is the core problem you're addressing?
Alvin: As ESG requirements rise, there's a significant challenge with inadequate data collection, especially concerning social data. Our solution aims to gather data right from the start of social events, ensuring transparency by recording this data on the blockchain. Moreover, using our certified methodology, we evaluate the value of these social events to ensure a fair distribution of resources.
What motivated the establishment of your startup?
Alvin: ESG is becoming a global trend. I firmly believe that resources should be allocated to those individuals or organizations that genuinely contribute. However, most often, resources end up with prominent influencers or large organizations, which isn't a fair distribution. Our vision is to create a system that allows enterprises to direct resources to the right target audience, ensuring a balanced and well-functioning ecosystem.
In a concise sentence, what is your startup's primary mission?
Alvin: Our primary mission is to create a system where resources are efficiently allocated to the right target audience, fostering a balanced ecosystem.
With the numerous solutions in the FinTech sector, how does your product or service differentiate itself?
Alvin: We offer a platform tailored for enterprises to gather ESG data from their community, encompassing employees, members, and other stakeholders. Additionally, our app's social modules amplify data collection efficiency, transforming our platform from merely a business tool into a thriving ESG community.
To date, how many individuals or entities have benefited from your service?
Alvin: Currently, we're conducting proof of concept (POC) with our clients and actively seeking partnerships across various industries. On average, we can reduce labor costs by the equivalent of two personnel per event and enhance ESG value by at least 20%. Our research indicates that supporting events that align with employees' interests can decrease turnover rates. This value proposition is anticipated to grow as more individuals and entities embrace the Jooin app.
What are the primary projects or initiatives that your team is currently focused on?
Alvin: Our main priority is to expand the reach of our app and platform to more enterprises. We aim to assist them in enhancing their internal events, reducing costs, and improving both ESG outcomes and corporate public relations.
As we move forward in 2023, what do you perceive as the most significant trend or challenge in your sector?
Alvin: Many enterprises in Taiwan are only beginning to recognize the risks associated with ESG, primarily those related to carbon emissions. However, we believe that social issues carry equal weight and anticipate that they will be more clearly defined by global organizations in the near future. As companies come to realize the significance of social value, it's imperative for us to provide robust tools that help them address these challenges and gather relevant data efficiently.
Are there specific types of business entities or stakeholders you're looking to collaborate with in the near future?
Alvin: We are keen to collaborate with public or listed companies, particularly those in the finance, banking, consulting, biotechnology, and service sectors.
How do you see partnerships enhancing your startup's growth and offerings?
Alvin: I'm confident that our product can boost ESG values by over 20%, with a particular emphasis on social value. Our potential increases as more members join our app. We envision significant growth as we evolve into a leading ESG community, which is why I'm eager to collaborate with more enterprises and encourage them to integrate our app into their ecosystem.
What objectives or milestones are on your horizon for the upcoming year?
Alvin: Our goals for the upcoming year include reaching 55,000 registered members and securing subscriptions from 100 enterprises and 100 Non-Profit Organization (NPOs).
For our readers interested in knowing more or exploring partnerships, what's the best way to reach out to you?
Alvin: You can reach me directly at alvin@jooinnow.io. Additionally, download our app to embark on your ESG journey.
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