- Is your enterprise constituted as a company in any country? If so where?
- What category you are applying for?
- Finanzas colaborativas
- In what stage is your solution?
- Describe briefly your project’s financial sustainability model
- Social or "B" enterprise based in freemium model. We will offer donors free information in our webpage so they can choose whom to donate to. But revenue will come mainly from fees charged to corporate "members" (depending on its size) who want to receive premium information and other consulting services of their corporate grants or social projects. Our costs are mainly in human resources (CEO, IT engineer, designer) and other operational expenses (office,etc). Our profit forecasts (US) for the first 3 years are: 1st: 0 2nd: 47.000 3rd: 107.000 For the first year we'll need capital of US 73.000.
- What is the scalability of your project? Zonal, national, regional or global? Why?
- The scalability is, essentially, global. Subject to the norms that apply to each country in terms of donation laws. In this direction, our team is constituted by people working in Colombia, Chile, USA and France. That is, we reflect the reality and applicability of our idea in America as well as in Europe. Everything, supported by team members that work or have had experience in social enterprises as well as in the academia
- How is your product or service different from what exists on the market?
- Our main competitors are platforms like Charity Navigator and GiveWell, as we share part of their mission; Robin Hood Foundation because they also use metrics to evaluate impact; and Kiva for its crowdfunding model. Nevertheless, we differentiate from them due to our integrated solution that combines tools for guiding donors to find outstanding opportunities and intelligent giving solutions, performance evaluation that permits comparing and identifying efficient and highly socially engaged projects, crowdfunding platform that promotes transparency, efficiency and equality between small and big foundations. Corporate Social Responsibility consultants might become competitors, but SxC can become a tool for them to align their client's interests with existing social projects, giving them the possibility to rate options according to the importance they give to key factors (financial results, type of beneficiaries, type of problem solved...) The difference is that we will use IRIS metrics developed by the Global Impact Investment Network to allow them to manage their client´s “social investment portfolio” to make it the most “socially profitable” by measuring their performance. Finally, we want to become the FIRST Social Exchange Platform for DONATIONS in Latin America, differentiating from other Impact Investment initiatives who seek financial profitability in addition to social/environmental impact.
- Briefly describe the social impact that your solution generates
- Non-existing competition in the non-profit sector. This leads to great concentration, where very few organizations receive 70% of donations. Main cause: - Lack of applicable common and public KPI to measure the performance of social projects and information asymmetries between social investors (donors) and grantees. - Donors are not able to compare and select the most effective organizations to fund, and non-profit organizations face many obstacles to fundraise. - Lack of measurement, analysis and benchmarking of social project’s results, prevents dialogue, creation of synergies and transfer of best practices between organizations that tackle similar problems and inhibit competition.
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