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pledged of $25,000 goal
|View Campaign||This campaign started on Apr 03 and will close on May 08, 2015 (11:59pm PT).|
About this project
Their vision: Real early childhood education for 10,000,000 kids in urban slums by 2020.
IMPCT – Building Education Businesses
For us education isn’t a gimmick. It isn’t a technology. It isn’t a product. Education is children in a safe environment, being guided through the learning process by qualified teachers. Education is a meal when you get to school to prime the brain for learning. Education is playing and socializing with other kids. To positively impact the lives of children, an early education approach must be holistic.
The only way to bridge the gap between the “developed” world and urban slums is with real education. This is IMPCT’s mission. We want to build sustainable schools that are community run but globally owned. The heart of our solution is a revolutionary platform that enables direct equity investments into urban slum schools. How does it work?
- We find capable people to own and operate sustainable education businesses in urban slums and our unique platform lets anybody, anywhere (YOU!) invest in their success.
- We build schools with help from our great NGO partners to keep quality high and costs low.
- We work with all our schools on an ongoing basis to ensure they meet education and operation standards.
- Our investors receive a portion of the school’s profits to reinvest in more schools. The community keeps the rest to reinvest in themselves.
Education for the world’s poorest is everybody’s business; IMPCT lets you invest in it.
Their Plan Starts With You
The $25,000 raised through this campaign will be used in two things:1. $20,000 to build a prototype school in El Salvador. This first school has higher upfront costs since simultaneously we will develop our standard teacher training program. After we establish a bigger partner network, we will be able to drive down the costs of building a school. This $20,000 will be used to:
- Renovate an existing house and build a stable foundation to have a safe school with the necessary equipment to hold 25 children at a time.
- Train teacher, caretaker and develop a standard training program
- School supplies and materials
- Cover for the five to six months of the school’s operation while it becomes self-sustainable
2. $5,000 will go towards starting development of our unique microequity platform. Today we’re starting with a single school, but this platform will allow us to build thousands more over the next five years with investments from people like you.
Our Inspiration: Rosita
We met Rosita, a single mother, during a recent trip to the slums of San Salvador. To make ends meet she runs an informal daycare, taking care of a few neighborhood children in addition to her own. She makes a couple of dollars a day per child; just enough to provide the basics for her family. She has little to no training and runs her daycare out of her humble home.
We asked Rosita: “Why not expand and take care of more kids?”
She answered: “I have no money, no space, how could this be possible?”
Financing in Urban Slums
For Rosita, and millions like her in the slums, there are simply no viable options for scaling up and improving their existing small businesses. Many are struggling to feed, house, and educate their own families let alone be able to set aside money to reinvest in themselves. Charity might provide temporary relief or an occasional skills training programs, but it certainly won’t build Rosita a school of her own. Even if Rosita is one of the lucky few with access to micro loans, there’s almost no way her school would be economically viable with their typically massive interest rates. With only these options, talented and entrepreneurial individuals like Rosita have no ability to finance businesses providing potentially vast social and economic benefits for their communities.
Risks and challenges
We known that we can make a real difference. We’re working with everybody from local NGOs, to education professionals, to venture capitalists to ensure that our plan is implementable and our targets reasonable. However, there are always unseen events that could have negative effects.
- School costs and revenue can only be estimated so well in advance. Major deviations from these estimates would require our funding requirements or timelines to be modified.
- There could be a challenge with initially populating our platform with quality projects. Our initial capitalization will determine our initial geographical reach.