Artificial Intelligence
Sorenson Impact Group Announces Launch of Enable Ventures, an Impact Investing Strategy at the Intersection of Innovation and Disability
PARK CITY, Utah, June 16, 2022 (GLOBE NEWSWIRE) — Sorenson Impact Group, the multidisciplinary impact organization focused on accelerating and growing intentional, scalable and equitable impact investing, today announced that Sorenson Impact Asset Management, its new for-profit asset management subsidiary, has launched Enable Ventures, a venture capital firm that invests at the intersection of disability and innovation with the goal of delivering deep impact.
“Over the years I have sought to scale impact investing by showing in various ways the profits to be made from doing well by doing good,” said Jim Sorenson, President and Founder of Sorenson Impact Group. “But the myriad of challenges we face as a global society require the impact marketplace to do more, faster. Sorenson Impact Asset Management aims to do just that. We offer unique investment opportunities that are designed to deliver market-rate, risk-adjusted returns alongside deep impact outcomes by investing in impact sectors that have been overlooked or underserved.”
Enable Ventures was co-founded by Regina “Gina” Kline. Former Senior Counsel to the Assistant Attorney General for Civil Rights at the U.S. Department of Justice, Kline is an entrepreneur and attorney who spent nearly 15 years as a civil rights lawyer leading efforts to dramatically improve working conditions and the employment of people with disabilities. As a Trial Attorney at the U.S. Department of Justice, Civil Rights Division, Kline successfully fought for workers with disabilities in segregated workplaces, where they were often paid pennies per hour, helping secure court orders to support and move over 11,000 workers to competitive integrated employment and setting a new standard in law.
“I launched Enable Ventures because I wanted to solve the problems that I witnessed as a civil rights lawyer on the front lines of work and economic participation in America, where workers with disabilities were fighting every day just to be heard and to be counted,” said Kline. “Throughout my journey, I saw so much rich innovation and problem solving potential in people with disabilities. In so many ways, people with disabilities are the original entrepreneurs – and yet this talented marketplace has been completely ignored by the mainstream venture community. This is despite the fact that from Thomas Edison to Vint Cerf, the disabled community has an astonishing track record of successful innovators. What’s more, elevating the design of products and services to meet the needs of people with disabilities has remarkable follow-on effects in many areas of deep tech and innovation, from biotech to computer engineering, to artificial intelligence advancing innovation for all.”
“Enable Ventures is a perfect fit for the Sorenson Impact Group and an ideal first investment strategy for our asset management business,” added Sorenson. “The disability market is massively underserved and undercapitalized. I know from my own experience as an entrepreneur how rewarding, both monetarily and emotionally, it can be to build a business that supports this community. By bringing together our institutional grade investment acumen with the Enable team’s remarkable sector expertise and impressive deal pipeline, we have an opportunity to penetrate deeper into the disability marketplace by identifying investible transformational products and services.”
Today, there are over 1 billion people with disabilities globally, with $8 trillion in disposable income. In the U.S., 26 percent of adults have some kind of disability. Yet the disabled population is experiencing crisis levels of unemployment. Nearly two-thirds of the world’s working-age population are unemployed. People with disabilities make up 50 percent of those living with long-term poverty in the U.S. and receive less than one percent of all microfinance loans worldwide. All of which leads to a $1.9 trillion loss to global GDP as a result of the economic exclusion of people with disabilities in the workplace. This comes at a time and moment when technological advances and changing workplace cultures make people with disabilities valued workforce participants.
Enable Ventures invests in four categories, all of which have strong potential for purpose and growth: up-skilling, re-skilling, and future proofing work; work-related technologies; next-gen assistive technologies; and founders with disabilities.
Enable Ventures is the first investment strategy to be seeded by Sorenson Impact Asset Management, the newly formed asset management business of Sorenson Impact Group. Sorenson Impact Asset Management focuses on supporting investment strategies in impact sectors that have been overlooked or underserved and that have the potential to deliver deep impact outcomes. The business looks to advance Sorenson Impact Group’s mission to scale the deployment of capital into impact investing by launching thesis-driven strategies with innovative businesses, especially those from diverse founders. Existing funds on the Sorenson Impact Asset Management platform today include the Catalyst Opportunity Funds and University Venture Funds.
Sorenson Impact Asset Management leverages the private equity expertise of Jim’s son, Luke, who has been investing in private equity for over 20 years and who has joined the Sorenson Impact Group as CEO. Luke Sorenson joins Sorenson Impact Asset Management from Sorenson Capital, a $2 billion venture capital firm where he was managing partner and chairman. Luke and his team, including chief operating officer Mark Ludwig, formerly a partner with Sorenson Capital, co-founder Jeremy Keele and chief investment officer Lauren Sercu, formerly a managing director with Serpio Capital, will provide venture investing expertise as well as back office and operational support to Enable Ventures.
“The impact investment community has tended to overlook the disability market,” says Luke Sorenson, CEO of Sorenson Impact Asset Management. “But we are at an ideal moment now where the market demand is there, the technology innovation is there, and investor will and interest is there. That is why we are so excited to have Enable Ventures on our impact investment platform.”
A serial entrepreneur, Jim Sorenson founded Sorenson Communications in 2000. For over 20-years the Salt Lake City, Utah, firm has been delivering accessible communications technologies and services to the deaf and hard of hearing communities and is one of America’s largest private employers of deaf people.
“I know the value of servicing disabled communities,” says Jim Sorenson, who sold his stake in Sorenson Communications in 2005. “So, when Gina came to us with her idea, I could immediately see what an amazing opportunity Enable was delivering on. The fact that Luke and his team were also able to come on board for the launch of Sorenson Impact Asset Management was all the more synergistic. It positions Sorenson Impact Group as a real powerhouse in the impact investment space, furthering my goal of growing and scaling impact investment and entrepreneurship. We are excited for what lies ahead.”
The Sorenson Impact Center recently hosted the Sorenson Impact Summit, a three-day convening of impact entrepreneurs, investors, and thought leaders in Park City, Utah, from June 13 through June 15.
About Enable Ventures
Enable Ventures is an impact venture fund dedicated to closing the disability wealth gap by investing in and scaling early-stage companies that leverage disability as an asset to unleash untapped economic potential through products and services powered by universal design. Enable Ventures is led by Regina “Gina” Kline, an entrepreneur and civil rights lawyer and supported by SmartJob, a platform to attract disability deal flow. Enable is part of the Sorenson Impact Group platform of funds founded by impact pioneer Jim Sorenson. For more information, please visit www.enableventures.vc.
About Sorenson Impact Asset Management
Sorenson Impact Asset Management is an asset management subsidiary of Sorenson Impact Group. We offer investors unique investment opportunities that are designed to deliver market-rate, risk-adjusted returns alongside deep impact outcomes by investing in impact sectors that have been overlooked or underserved. We seek to scale capital deployment by launching thesis-driven investment strategies with like-minded partners, especially those from diverse founders, with innovative solutions that can create impact at scale. Currently, strategies supported by Sorenson Impact Asset Management include Enable Ventures, Catalyst Opportunity Funds, and University Venture Funds.
About Sorenson Impact Group
The Sorenson Impact Group, founded by Jim Sorenson, is a multidisciplinary organization focused on catalyzing intentional, scalable and equitable investing to help solve complex, global social and environmental challenges. We strive to foster an investment ecosystem that aligns mission and values with market-rate, risk-adjusted returns. Sorenson Impact Group stands unique as a multidisciplinary impact organization that can offer a full spectrum of solutions that the impact marketplace needs to grow and flourish. Our organization includes the Sorenson Impact Center, which is housed at the University of Utah David Eccles School of Business; the Sorenson Impact Foundation, which is one hundred percent mission aligned; and Sorenson Impact Asset Management, which focuses on delivering market-rate risk-adjusted returns and intentional impact from investments in impact sectors that have been overlooked or underfunded.
Media Contact:
Cindy Stoller
Confluence Partners
917-331-0418
[email protected]
This content was issued through the press release distribution service at Newswire.com.
Artificial Intelligence
Cyber insurtech BOXX partners with Zurich Insurance Group in Switzerland to introduce breakthrough personal cyber product
TORONTO, May 21, 2024 /PRNewswire/ — Award-winning global Insurtech BOXX Insurance Inc. that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk solution in collaboration with Zurich Insurance Group in Switzerland, providing digital protection for individuals and families.
Recognizing the critical need for comprehensive protection against digital threats Zurich Insurance in Switzerland has partnered with technology partner BOXX Insurance to develop a user-friendly solution designed to help individuals and families better predict and prevent potential scams and digital threats.
Designed for simplicity, the app’s personalized experience puts users’ digital safety front and centre, featuring an easy-to-use interface designed by Zurich Insurance in Switzerland and developed by BOXX in close collaboration with Zurich. The App is now available in Switzerland offering support in English, German, French and Italian.
“We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency,” explained Vishal Kundi, CEO and Founder, BOXX Insurance. “Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured,” Kundi added.
“An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products,” says René Harlacher, Chief Underwriting Officer of Zurich Insurance in Switzerland. “At Zurich, it’s our mission to go beyond mere protection, and also offer our customers tools to help them build resilience and implement preventative measures against cyber risks. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers,” he adds.
The newly launched solution by Zurich Insurance in Switzerland focuses on providing essential services to help prevent digital threats combined with emergency assistance and support in case of an emergency. Delivered to end customers by Zurich, key features include:
Identity Protection: Identifies if personal data captured in the app shows up on the dark web and notifies users, providing help and advice to reduce threats of identity theft.Secure VPN: By creating a secure and encrypted internet connection the VPN protects data from potential threats such as hacking, identity theft, and phishing attacks. Secure WiFi: Scans WiFi networks for threats and helps proactively detect security issues.Safe Browsing: Warns against harmful websites and links to protect privacy and personal data.Device Protection: Checks and improves the security settings of devices. Devices with the Android operating system are additionally protected against viruses and malware.Password Manager: Creates and manages strong passwords and assists with their use.Edutainment: Educational content in an entertaining way to raise awareness of personal cyber security.Emergency Support and Assistance: Help and assistance from cyber security experts to provide support in cyber emergencies and for many other IT-related problems. The new offering is available here: https://www.zurich.ch/en/private-customers/living-events/cyberprotection/insurance-prevention
“From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app,” Kundi added.
Zurich has been working with BOXX since 2021 and participated in BOXX’s Series A and Series B funding rounds. As a Zurich Global Ventures portfolio company, BOXX is proud to now extend the ongoing collaboration with Zurich to enable Swiss customers to be digitally safer.
About BOXX Insurance
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai.
BOXX Insurance is an award-winning global cyber protection and insurance provider. We’re not a typical company. That’s by design. We’re serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we’re improving the digital health of businesses, families and individuals around the world who rely on BOXX’s solutions and services to predict, prevent and insure them against cyber threats.
Media Contact: Sarah Madden, [email protected]
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ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity. The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities. To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress. The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region. Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy
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TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.
The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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