It’s a market worth $424 billion and counting. It has a large, diverse user base, and a more than 20% compound annual growth rate. No, it’s not edtech, fintech, or biotech. It’s govtech.
As governments look to modernize and optimize the many services they provide residents, the need for civic technology that addresses community challenges will continue to grow. But how can startups, entrepreneurs, and other innovation networks break into the nascent govtech market?
That’s the question being asked and answered as part of the “Cracking the $400B+ Govtech Market” webinar, hosted by City Innovate. The event will be held on Thursday, September 20th and will feature presentations from a number of leaders in the Govtech space, including Jay Nath, Co-Executive Director, City Innovate; Ron Bouganim, Managing Partner, Govtech Fund; Dustin Haisler, Chief Innovation Officer, e.Republic; and Felicia Curcuru, CEO, Binti.
City Innovate brings together government partners and startups to tackle civic challenges through the Startup in Residence program. Now entering its fifth cohort, STIR has supported nearly 50 projects that span the gamut of government services, from traffic management to homeless health services to volunteer coordination. Startups work closely with government partners over the course of 16 weeks to discover, design, build, and test solutions to problems those governments are experiencing.
The webinar will cover a number of topics, including the govtech market’s projected growth, how to break into the space, and how to receive funding for civic tech innovations. Two of the webinar’s presenters — Curcuru and Nath — will also give an overview of the Startup in Residence program.
Curcuru will speak about participating in the program, and discuss what she learned about developing and scaling a civic tech product during it. Her company, Binti, partnered with San Francisco’s Human Services Agency to develop a mobile web app that connects foster parents to foster children through a streamlined process. Not only does Binti reduce the time for foster parents to submit an application, it also has been proven to save social workers anywhere from 20%-40% of their time. Since the product was launched, applications to foster a child in San Francisco have tripled.