Quipu is a digital marketplace like eBay or Alibaba, but for unbanked micro-businesses at the bottom of the pyramid.
13. Financial Sustainability – funding breakdown: please list a quick breakdown of your funding, indicating an estimated percentage that comes from each source.
Individual donations or gifts: 10 %
Foundation or NGO grants: 50 %
Bequests: 0 %
Corporate contributions 0 %
Grants or contracts: 40 %
Earned income (product or services sales, licensing, franchising, consulting, financing, etc.): 0%
15. Growth Strategy: What are your main strategies for scaling your impact?
In order to achieve scale, Quipu must grow its network of partnerships with local stakeholders in the communities we aim to serve. Quipu’s strategy for growth is to engage and build trust among local governments, MFIs, & NGOs who help with implementation and user adoption throughout the communities they operate in. This way, instead of devoting the entirety of our focus towards targeting individual micro-business owners, which would be both cost and time expensive, we focus on local stakeholders who already work with our target users so we can onboard many micro-businesses seamlessly.
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?
Quipu entrepreneurs already had ideas for solutions to advertise their business and connect with other vendors but they lacked a platform to cooperate. We designed Quipu to serve as a radical planning tool to promote the necessary spaces of collaboration needed to create counter-traditional economic spaces. With Quipu, micro-entrepreneurs can be changemakers for and serve as cornerstones for local economic development. They can create strategies to support local businesses in solidarity, can prove their communities are creditworthy, and can even fund community development projects.
17. Awards & Recognitions: What awards or recognitions, if any, has the project received so far?
Initially we were awarded with a cash grant by the MIT Transnational Innovation Alliance and MIT Sandbox for the idea of Quipu and the web-app prototype. Since then, we've been awarded first prize as the most innovative financial inclusion platform in Colombia by the Development Bank of Latin America (CAF) and were recognized by and pitched at the World Bank Youth Summit.
18. Tell us about how collaborations and partnerships would enhance the scalability and impact of your project
Our first step in every implementation process for launch in a new community is to establish a partnership with a local stakeholder which could be a city government, micro-finance institution, development agency, etc. So, in order for us to grow we need to have channel partners who can onboard micro-businesses they already work with. This network of partnerships and access to micro-entrepreneurs is our path to scale.