As the tech industry becomes increasingly profitable, there’s a growing sense of frustration with how much the tech sector is making.
While the majority of tech firms make money by selling software, there are a number of companies that are making more money by investing in their employees and developing products that are specifically designed to improve their employees’ health and wellbeing.
A growing number of startups and companies are using technology to create products and services that improve the health and well-being of their employees.
This new revenue model is being called the “sustainable revenue model” and is attracting a lot of attention.
According to a report from the Boston Consulting Group, in 2020 there were over 100,000 health technology companies operating in Australia.
It says that “health tech companies are becoming the fastest growing industry in Australia, with annual revenues in excess of $100 million”.
In addition, the company says that there are more than 4,000 “sustainability” initiatives that employ more than 200,000 people across Australia.
The report says that the sustainability model “seems to be catching on with a lot more companies”.
For example, it says that one of the leading sustainable revenue models in Australia is “micro-finance” which is a model in which a small business can offer an individual an option to finance their lifestyle through micro-loans.
“The micro-fence model offers a way for small businesses to access financial support that is in line with their local circumstances,” says the report.
Micro-fences are often used to provide funding to individuals or small businesses for things like rent, utility bills or car repairs.
In contrast, the sustainability income model “involves individuals, small businesses and governments in a shared commitment to support health and wellness in our community and country.”
The report also says that these new revenue models are likely to be particularly popular among young people.
The average age of an Australian’s primary schoolteacher is just 26, but the average age for a tech employee is almost 50.
There are some clear trends that suggest that young people are more likely to start and grow companies and technologies that support health.
For example:There are more people between the ages of 18 and 24 than in previous generationsThere are significantly more people who are in the 21-30 age group than the 35-44 age groupThere are higher levels of female participation in the tech workforceThere are also fewer women and younger people in technology than in other sectors.
While there is an increasing focus on the need for companies to invest in their people and to support their health and physical wellbeing, there is also an increasing recognition that there’s more to the health of our community than just software.
As well as the potential to help people live longer, technology is being used to improve the quality of life in our communities.
The ABC’s Ben Fordham has more.