FiLi aims to help young people acquire basic financial knowledge and soft skills to improve financial inclusion and increase resiliency
13. Financial Sustainability – funding breakdown: please list a quick breakdown of your funding, indicating an estimated percentage that comes from each source.
At this early stage, NGO grants are our 100% source for funding. After solving the first little sliver, we are going to scale up to a social enterprise in order to achieve sustainability and change to earned income as our main source (up to 90%). Also, we will receive additional contributions from NGO's, donations or corporate contributions (~10%).
15. Growth Strategy: What are your main strategies for scaling your impact?
We have 3 main strategies: one, is geogrpahic spread through LATAM. Second, becoming open sourcing entity and third, creating alliances with universities, business, banks and fintech institutions in order to collaborate and receive a fee for generating earning income and achieve sustainability.
16. Activating changemakers: How are you giving people the power to control their own destiny and support other people to become changemakers in their communities?
When you are a young person you may not be conscious enough about the importance of financial literacy to better manage your limited income and expenses and how this knowledge could improve your life. So, getting your finances and future needs in order is paramount for creating peace of mind, financial security and independence. If you are free and independent you will be able to care for others and create change in the world. Not just by improving your financial situation that in aggregate will benefit the region. But, sharing your story and inspiring others... to become a changemaker.
17. Awards & Recognitions: What awards or recognitions, if any, has the project received so far?
FiLi became pitch competition first place winner at Shaping Horizons 2019, the first international summit and action programme on science, politics and innovation for a changing world, which brought together 150 young leaders from across the United Kingdom and Latin America to Cambridge University, for committing to the top world leaders and ignite change.
18. Tell us about how collaborations and partnerships would enhance the scalability and impact of your project
FiLi will be a Social Enterprise and the digital platform will become an open source for youth. However, in order to achieve sustainability, we need to create alliances and collaborations with universities, businesses, banks and fintech companies. There are many sectors interested in financial inclusion. Most of them, want to make their services reachable and need a well informed costumer. We will not tell youth where to go.But, we are going to teach them to make that decision by themselves.