You must to enter or to register your account before to support this idea.

SocialXChange (SxC)

SxC is an online platform of social performance measurement for non-profit organizations. Social investors will be able to compare projects and select which one to fund according to their goals. This will improve opportunities of the best social projects to be funded, fostering competition. Moreover, non-profits will receive support and advise enhancing projects’ performance. At the same time, social investors will be able to follow and measure the "social impact/profitability" of their donations and receive reports with information of the performance of their grantees. These activities seek to leverage the "social profitability" of private donations and the impact of non-profit projects. Users will benefit from the visibility of this platform as well as greater accountability and transparency will arise because of an increase in credibility based on public metrics. Finally, this will leverage dialogue around the best ways to solve the greatest problems of our world.
Is your enterprise constituted as a company in any country? If so where?
No
What category you are applying for?
Finanzas colaborativas
In what stage is your solution?
Prototipo
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.
Image gallery

Do you think this idea
is positive for the world?

Support idea

Give your support to "SocialXChange (SxC)"

Collaborate

Sign up or sign in to help José Manuel Castillo improve his proposal

Sign up or sign in to comment this proposal

Sign up or sign in to report this comment

José Manuel, sound really great! You already have some transactions through your platform? Do you have a webpage that i can see?
Answer
Report
4 years ago
Hola, aún no. Estamos postulando para poder hacer el plan piloto. Gracias por la felicitación, ojalá votes por nosotros :)
Answer
Report
4 years ago
Hola José Manuel, muy interesante tu idea, al igual que otras creo que podría coincidir con la nuestra (SocialtoCrowd.org) que busca crear un espacio de corwdfunding para proyectos de ONG, orientado a necesidades materiales y perfiles profesionales necesarios para realizar los proyectos. Estamos trabajando en software libre y pensando en usar APIs para poder comunicar y conectar con otras plataformas. Qué te parece?
Answer
Report
4 years ago
Toda iniciativa debe ser apoyada por eso dejo aqui mi IDEA, ESPERO CONTAR CON SU APOYO, FAMILIA, AMIGOS Y CONOCIDOS. SALUDOS DESDE COLOMBIA VOTA POR MI IDEA?http://socialab.com/ideas/ver/16539
Answer
Report
4 years ago
SxC is an online platform of social performance measurement for non-profit organizations.
Answer
Report
4 years ago

Do you think this idea
is positive for the world?

Support idea

Give your support to "SocialXChange (SxC)"