"Our mission is to increase the economic wealth across minority communities"
Website or social media url(s) (optional):
Project Stage: Select the description below that best applies to your approach.
Idea (hoping to get started in the future)
1. Personal Journey: What’s the story behind why you decided to start this project? NOTE: All applications must include a 1 minute video that answers: “I am stepping up to make change because..."
Over the summer I did a lot of research on general wealth and discovered The wealth of the median black household declined 75 percent (from $6,800 to $1,700), and the median Latino household declined 50 percent (from $4,000 to $2,000) the thing that blew my mind away was researching that If this continues the median black household wealth will hit zero by 2053. I realized this was a problematic issue and something needed to be done to bring wealth to these communities.
2. The Problem: What problem are you helping to solve?
I am hoping to solve the generational wealth gap that minority communities are currently experiencing today.
3. Your Solution: How are you planning to solve this problem? Share your specific approach.
I plan to solve this problem by simply developing an app called Erudite, The Cultural Business Marketplace App,that will provide an incentive to support minority businesses, while providing an opportunity to increase wealth circulation within diverse communities. This app will direct you to the businesses through GPS and will allow you to spend your money there. by using the app you will gain rewards and have the opportunity to actually see where your money is going and how it circulates in these communities.
4. Example: Please walk us through a specific example of what happens when a person or group gets involved with your project.
By investing in this business you will have the opportunity to increase generational wealth” This app will tell you where minority business are located near you and also
5. The X Factor: What is different about your project compared to other programs or solutions already out there?
This app will actually direct you to the businesses you want to support and help. By using this app you will also gain rewards from these businesses. The app will also give you a detailed outline on which bossiness are profit and nonprofit to him you differentiate your tax right offs
6. Impact: How has your project made a difference so far?
I recently created a survey with 10 questions pertain to the importance of this app. We had 100 participates and one of the questions stated
" Do you believe circulating dollars in minority community will have an effect on poverty and crime rates"
89% of the people voted yes to the question
By simply creating this survey that shows the potential of the difference this can make in communities
7. What’s Next: What are your ideas for taking your project to the next level?
The next level for this app to eventually add international businesses and markets for people to shop and generate wealth for there communities
8. Future Support: What are the resources needed to make your vision a reality?
Small business owners, funding, coders, GPS services, community support, cooperate support.
9. Finances: If applicable, have you mobilized any of the following resources so far?
How did you hear about this challenge?
Recommended by others
Word of mouth