TechCamp Morocco: Fundraising Solutions for Moroccan Businesses
Group 3: Fundraising Solutions for Moroccan Businesses
NGO Project Lead / ONG Project Lead:
Technologist Project Lead
Summary of the Problem
The group of people that would be better able to implement their mission if this problem is solved are small and micro enterprises, individual entrepreneurs (artisans), NGOs, cooperatives (Cosmetic women cooperatives…).
Summary of the Proposed Solution
The basic need here is to find resources and ways to help and train Moroccan businesses and organizations to advertise and connect with international investors using online fundraising websites.
Technology to Solve the Problem
Fundraising websites that work for Moroccans and allow national and international investors to support the Moroccan businesses. Such as: http://www.indiegogo.com
Designing e-commerce websites to collect funds by using different online payment solutions, such as:
This organization provides online payment solutions in Morocco. They give a special offer for NGOs and small and micro businesses. Cheaper subscription fees, free monthly membership, and fixed transaction percentage.
Bank transfers. Organizations offering international money transfer facilities such as Wafacash, moneygram...
Designing cheaper alternatives to websites such as blogs, facebook pages or other social media networks to promote their products, projects, work and needs etc…
The best way for Moroccan businesses to achieve this solution is to establish SMART goals for their mission.
SPECIFIC building a crowd sourcing platform Measurable list five businesses to interview Achievable make a list of ten specific questions to ask Relevant find solutions that fit questions/problems Timely (time-framed)
Existing solutions or relevant links: What other potential information or existing website could help the technologists solve this problem?
The action plan is:
Find out what is the problem Understand the problem of our customers and to find the solution
Write down hypothesis Identify which technologies are needed to implement each solution
Base our questions on these hypothesis Identify the the biggest pain points of your customers
Find solutions that fit the best those pain points
Once we get the answers we modify the business model accordingly, we revise our solutions and our hypothesis. We then go back to the business owners and share our updates and ask about their opinion and modify accordingly.
Put our project “on paper” implement
Identify what are the resources and skills needed.
Do the research and identify the resources and technologies needed for our solution Go back to customers and ask their feedback and Modify accordingly.
Competition Verify similar products from other countries and contexts to benchmark. Test some of their successful features and functionalities and ask your costumers for feedback.
Answer these questions: What is our competitive advantage over potential competitors? What differentiates us?
What are the resources that we need to start our project?
Deliver the appropriate solution.