Business Category: Crowdfunding Financial Inclusion FinTech IT Software Technology
Startup Stage: Pilot Launch
Support Required: Mentoring Office Space
Structure of the Company: PVT Ltd.
Executive Summary: What is TechPose? TechPose - Technology for Purpose to create a social impact. We build profit-based scalable products and solutions which solve societal issues by leveraging the virtues of technology. What is Gullak?/ What is the product? Gullak is our donation platform to generate livelihood and sustainability for social enterprises & non-profits. We improve the experience of giving by creating a community driven by trust, enablement and social impact. Our vision is to socially empower and bring sustainability to ideas which make a difference in the society. It is an Empowerment and sustainability platform for Social Transformations right from that tribal woman who wishes to uplift her tribe to the social entrepreneur on a mission to globally reduce carbon emission. We provide transparent crowdfunding for socially impactful ideas where every single donated penny could be tracked and campaign progress would be delivered through gamification to increase trust, happiness of giving and satisfaction of the donor. We envision to build a powerful community for Social Entrepreneurs and Founders of Non-Profits which could seek support for challenges they face, skill training, mentoring and collaboration to execute their idea/project. Thus, it is a scalable technology-based platform to support social transformations so that they are enabled by the community.
Market need: Our Founder has been into the social work space for more than 8 years now. As she met people, visited communities she came to know that they have a lot of talent and potential but they either fail to identify it or lack the path to pursue it or can’t simply think beyond their daily basic needs and routine. To do something of their own, they fear repayment of loans followed by torture of landlords/banks. This situation is valid in rural, tribal as well as urban regions. That’s where we, at TechPose, decided to solve this issue of 1. lack of trustful, equity & debt free financing mechanisms which can be solved through crowdfunding 2. lack of community to support social impactful projects. After conducting a market survey in 6 different countries, we came to know that 89% donors face this issue of lack of trust and transparency in the crowdfunding platforms as they don't know how the money is actually getting utilized at ground level. Also, donors can’t trust campaigners-fund seekers who don’t belong in their network. Crowdfunding lacks verification mechanism, monitoring mechanism, sustainability (campaigners find it difficult to survive without depending on further donations) and has regulatory loopholes. Donations are also mismanaged and unethically used at the campaigner's end due to lack of monitoring system. On the other hand, crowdfunding brings in the power of people which can be best leveraged to identify talents and potential of communities to build sustainable ideas. Social transformers don’t have access to early investments due to the nascent phase while 84% of donors wish to support such sustainable causes.
Product/Service description: Transparent Gullak improves the experience of giving by making it more trustful, engaging and enabling. Our vision is to socially empower and bring sustainability to ideas focusing on bringing in inclusion and climate action. Ideas like: the small tribal girl who wishes to uplift her tribe to the social entrepreneur on a mission to globally reduce carbon emission would be crowdfunded. We crowdfund for social impact projects of Social enterprises or Non-profits while donors can track every single donated penny and become part of the journey of the social transformations. Along with crowdfunding, we also envision building a powerful community where every individual can contribute to make a difference. This network would handhold until the business becomes sustainable by providing skill training, mentoring, volunteering and collaboration support to the social transformer so that they can execute their idea. Once their socially impactful products are developed, we also help them to get the business through our collaborative marketplaces thus, making these transformations have sustainable models.
Customers/Users: Campaigner/Fund Seekers - Direct paying Customers: Social Enterprises and non-profits with social impactful project needing initial hand-holding support Donors - Indirect Paying Customers: Professionals, influencers, freelancers, CSR, philanthropists, informal groups/individuals who wish to support sustainable causes, know how their donations are utilized and become part of the journey of social transformation.
Revenue Model: Commission & subscription based
Current traction: Since launch on 25th July 2021, we have successfully on-boarded 250+ Donors, campaign reach in 4 States & 1 Union Territory of India reached, INR 5 lakhs+ Crowdfund raised, 21 Businesses supported/started