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    Date submitted
  • 26-Aug-2018

Eirium

Abstract

Eirium is building a transparent, decentralized, data-driven digital infrastructure for the social good sector.

Video

Additional Questions

Who is your customer?

Non-profit organizations, private foundations, and governments

What problem does this idea/product solve or what market need does it serve?

Making the world a better place, the purpose of the Social Good Sector, lacks transparency and efficiency. There is little visibility into where the money goes and studies have shown that as little as 10% of the funds actually reach the intended beneficiaries. 30% lost to corruption 10% paid in banking fees 10% accountability overhead 40% operational inefficiencies ================================ 10% ends up going towards impact The current approach to tackling this problem is to instigate an accountability effort of project monitoring and evaluation (M&E). Today, all M&E activities are done in an ad-hoc, manual manner, resulting in a 5-15% overhead according to the International Federation of Red Cross guidelines. The Total Addressable Market (TAM) of the Social Good Sector, encompasses all charitable work, development aid, and humanitarian assistance is estimated to have an annual turnover of around $2 trillion. The Serviceable Available Market (SAM) is development assistance which is between $4-500 billion per year. The Serviceable Obtainable Market (SOM) that we are going after initially is humanitarian assistance which is between $25-30 billion per year.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

We are building a decentralized, transparent, data-driven, digital infrastructure for the Social Good Sector, that captures every interaction money has from the time it gets donated until it, or items procured with that money gets into the hands of the beneficiaries. This not only ensures 100% transparency and traceability of funds and the impact the funding has, but also creates an opportunity to identify areas for inefficiencies using all the data points captured along the way.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

We have a deep understanding of the market having been involved in it for two decades. We have the network to all the major players (including key customers) and the technological know-how of building this solution.