Overview
What is Responsible Innovation Labs?
Responsible Innovation Labs (RIL) is a nonprofit organization dedicated to promoting responsible innovation as a core principle among high-growth technology companies and their investors. RIL aims to shape the demand side of responsible innovation by establishing standards, influencing capital allocation, and fostering collaboration among industry leaders. The organization believes that responsible innovation leads to value creation for all stakeholders, including communities beyond shareholders. RIL has garnered support from over 100 member firms, investors, and advisors, who share its vision of intentional innovation, accountability, and a commitment to shared prosperity, sustainability, and inclusion. In pursuit of these goals, RIL is set to launch responsible AI standards for startups in Q4 '23, engage global tech leaders in responsible company-building discussions, and directly engage with over 400 individuals through its content, webinars, and events.
Is Responsible Innovation Labs legitimate?
Responsible Innovation Labs is a legitimate nonprofit organization registered as a 501(c)(3) entity. Responsible Innovation Labs submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $93,614
Professional Fundraising Fees: $0
Other Salaries and Wages: $201,500
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What is the mission statement of Responsible Innovation Labs?
Responsible Innovation Labs, a coalition of prominent investors and technology executives, acknowledges the significance of responsible innovation and the necessity of a more robust approach to addressing the challenges and opportunities of the current era. The organization's primary mission is to instill responsible innovation as a fundamental mindset and standard practice among high-growth technology companies and their investors.
RIL achieves this by fostering the demand side of responsible innovation. They contribute to the field's infrastructure by establishing standards, incentivize industry behavior by engaging capital allocators, and create a community of leaders from both private and public sectors. The coalition believes that responsible innovation is a skill that can be developed and emphasizes its positive impact on value creation and benefits to individuals and communities beyond shareholders.
RIL has attracted a substantial community of over 100 member firms and advisors who support its founding principles and commitments, including Responsible AI. Its charter envisions a technology industry that innovates intentionally, operates with accountability and transparency, and upholds values of shared prosperity, sustainability, respect for people, societal responsibility, and inclusivity. RIL is preparing to launch the first industry-driven, pro-innovation responsible AI standards for startups in Q4 '23.
Who is the CEO of Responsible Innovation Labs?
Gaurab Bansal is the Product Manager of Responsible Innovation Labs.
What is the revenue of Responsible Innovation Labs?
Responsible Innovation Labs's revenue in 2022 was $353,253.
Who are the executives of Responsible Innovation Labs and what are their salaries?
The average compensation at Responsible Innovation Labs during 2022 was $59,023. There are 5 employees and 20 volunteers at Responsible Innovation Labs.
Here are 4 key members and their salaries:
- Compensation: $120,000
- Related: $0
- Other: $5,470
- Compensation: $21,208
- Related: $0
- Other: $40,441
- Compensation: $7,000
- Related: $0
- Other: $24,966
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Responsible Innovation Labs?
Responsible Innovation Labs's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Responsible Innovation Labs
Responsible Innovation Labs, a coalition of influential investors and technology executives, recognizes the significance of responsible innovation and the necessity of a more rigorous approach to addressing the challenges and opportunities of the current moment. Their mission is to integrate responsible innovation as a fundamental mindset and operational norm within high-growth technology companies and their investors.
To achieve this goal, Responsible Innovation Labs takes a multi-faceted strategy. They stimulate demand for responsible innovation by establishing standards to strengthen the field's infrastructure, persuading capital allocators to shift incentives and industry behavior, and fostering a network among private and public society leaders. Responsible Innovation Labs believes that responsible innovation is a skill that can be developed, and they emphasize how it contributes to value creation for individuals and communities that are not shareholders.
The coalition has amassed a community of nearly 100 member firms and advisors who have pledged their support to Responsible Innovation Labs' founding charter or one of its commitments, such as Responsible AI. This community includes notable figures like the CEOs of Cityblock, Gusto, Guild, and Warby Parker, as well as prominent investors and advisors like General Catalyst, Bain Capital Ventures, and Ken Chenault. Responsible Innovation Labs is also preparing to launch the first industry-driven, pro-innovation responsible AI standards for startups in Q4 '23. The coalition's initiatives have engaged numerous individuals, including tech leaders, through weekly content, topical webinars, and Founder Dinners.
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Impact
October, 2024
Responsible Innovation Labs (RIL) significantly impacts the technology sector by promoting responsible innovation as a core operational principle among high-growth technology companies and their investors. By attracting nearly 100 member firms and advisors, including prominent founders and leading venture capitalists, RIL cultivates a community dedicated to intentional innovation and accountability in technology.
RIL drives the development of standards that enhance the infrastructure for responsible innovation and actively engages capital allocators to realign incentives towards creating societal benefits. This coalition emphasizes the importance of shared prosperity, sustainability, and inclusivity, fostering a culture of responsibility that extends beyond shareholder value.
Through initiatives like the upcoming launch of industry-driven responsible AI standards for startups, RIL addresses the pressing challenges of today's technological advancements. The organization also facilitates meaningful dialogues among tech leaders, offering platforms such as webinars and discussion panels featuring experts like Dr. Safiya Noble and Raina Kumra. These engagements cultivate a broader understanding of responsible company-building practices.
The impact of RIL is evident in its mission to highlight how responsible innovation can lead to value creation for communities and individuals. By establishing responsible frameworks and encouraging collaboration, RIL contributes to a technology landscape that prioritizes ethical standards and societal welfare.
This information is meant to be a general summary of Responsible Innovation Labs. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $353,253
Assets and Liabilities:
- Total Assets: $58,325
- Total Liabilities: $379
- Net Assets: $57,946
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Organization Details
Founding Year
2020
Phone
(425) 503-5500Principal Officer
Gaurab Bansal
Main Address
874 Walker Rd Suite C, Dover, DE, 19904
NTEE Category
Code: U40 - Science research
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