Novozymes and Royal DSM have joined DIVA Ventures L3L, a coalition that co-develops and co-invests in opportunities that have high potential to deliver positive societal impact in a sustainable way. The two organizations are joining as co-founders along with the World Business Council for Sustainable Development (WBCSD) and counsel partner Pillsbury Winthrop Shaw Pittman. DIVA is a member of the European Venture Philanthropy Association

The announcement was made at United Nations HQ in New York by Thomas Videbæk, COO of Novozymes, and Peter Bakker, President and CEO of WBCSD. DIVA stands for Driving Impact Venture Action.

“In 2015 we launched a new corporate strategy, ‘Partnering for Impact’,” said Thomas Videbæk, COO at Novozymes. “The strategy is based on our strong sustainability-oriented corporate culture as well as the conviction that long-term business growth is best achieved by focusing on business opportunities that deliver positive societal impact. Co-founding DIVA is one of the ways in which we are enabling our organization to explore such opportunities.”

Meeting development challenges in the global economy will ultimately require private sector leadership. Impact investors and socially responsible businesses face a gap – available capital and desire to participate, but not enough ventures or venture ecosystem in the developing world. DIVA presents a new model to help address this challenge. Working closely with its corporate partners, DIVA helps identify and mature impact venturing ideas that leverage existing corporate technologies, products and services.

The ultimate goal is to bring high-impact ventures to maximum international scale and help achieve the Sustainable Development Goals (SDGs) agreed by the United Nations in September 2015.