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Startup Secrets: Raising Funding - Case – Givology
 

Startup Secrets: Raising Funding - Case – Givology

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This is a guest presentation from Alok Tayi, PhD. He is a postdoctoral fellow, in the Whitesides Lab at Harvard University. Alok has been working to provide sample case studies on for the Startup ...

This is a guest presentation from Alok Tayi, PhD. He is a postdoctoral fellow, in the Whitesides Lab at Harvard University. Alok has been working to provide sample case studies on for the Startup Secrets series. Special thanks to Coulter King and Joyce Meng of Givology for their contributions to this case study.

Givology is a student-run social enterprise that helps individuals find and fund education-related projects around the globe. Givology was launched in 2008 and founded by three University of Pennsylvania undergraduates: Joyce Meng, Jennifer Chan and Carl Mackey.

More: http://www.mjskok.com/resource/startup-secrets-raising-funding

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    Startup Secrets: Raising Funding - Case – Givology Startup Secrets: Raising Funding - Case – Givology Presentation Transcript

    • Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi1#innovationlab @mjskok #startupsecrets www.mjskok.comMICHAEL J SKOKHi Harvard innovation labFunding strategies to go the distancetwitter: @mjskok mjskok.comNorth Bridge Venture PartnersSTARTUPSECRETSCase Example: Givology
    • Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi2#innovationlab @mjskok #startupsecrets www.mjskok.comFor context and more information:• The entire “Funding Strategies to go the Distance”presentation can be found here.• For more on the Startup Secrets series, visitwww.startupsecrets.com• Related Startup Secrets presentation recommendations:– Getting Behind the Perfect Pitch– Building a Compelling Value Proposition
    • +
    • +Best Practices for Non-Profits① Launch cheaply and quickly. You can’t plan for everything –it’s better to be out there first and adapt later.② Learn social media early. It’s key to raising awareness andreaching your audience.③ Focus on quality first and scaling secondarily.④ Diversify and experiment in figuring out what works. Weconstantly generate new ideas for initiatives.⑤ Motivate volunteers by giving them meaningful projects andthe freedom to come up with their own solutions.
    • +Best Practices for Non-Profits⑥ Form a strategy for organizational turnover early.⑦ Develop a strategy for recurring funding. It’s difficult to findnew donors. Use newsletters, campaigns, and personalizedengagement with key donors to maintain enthusiasm.⑧ Collaborate with similar organizations. Collaboration throughcross-blogging and other cooperation expands the pie.⑨ Match expenses with inflows. See what you can do withoutfirst and think critically about your return on expenses.⑩ Leverage art and video to make a difference. It can convey amessage succinctly and powerfully.
    • +Founding and Track Record Givology was launched in 2008 by University of Pennsylvaniastudents with the goal of empowering youth around the world bycreating educational opportunities Since 2008, we’ve raised over $315,000 to assist 2,875 studentsthrough 46 grassroots partners in 26 countries from over 2,500registered donors and 11 chapters Received Intelius Award for “Best Student-Run Social Enterprise,”“Top Education Non-Profit” by GreatNonprofits, “Technology inEducation” prize by Education Without Borders, Ford FocusFinalist Featured in Knowledge@Wharton, MTV Act, Nicholas Kristof’sbook Half the Sky, the Philadelphia Inquirer, and other mediachannels
    • +Our Model Givology’s virtual office and 100% volunteer team allows us tooperate on a budget of $400 per year for website hosting Our low operating costs allow us to be more innovative andencourage individual entrepreneurship: Non-profit organizations tend to be risk-averse, since essentialfunding depends on a long track record and proven model We can experiment with social media, empower volunteers tolaunch their own campaigns, and decentralize decision-making Our small size led us to partner exclusively with smaller,community-based organizations where the small dollardonations we raise really make a difference
    • +Our Partnerships We partner with grassroots education non-profits and schools that meetour criteria for transparency, model of impact, quality of operations, costeffectiveness, continuity of presence in the community, and innovation. We find organizations that do great work but are too small to afford a bigmarketing budget and staffing presence We help them with: Online fundraising by posting education projects and student profiles Offline fundraising through events run by our chapters and volunteers Recruitment of volunteers for administrative and field roles Marketing and awareness building through our social media network In return, we receive regular updates about the use of funds in the form ofstudent letters, videos, photos, transcripts, and more
    • +Documenting Best Practices To share our successes andsetbacks, we published a 212-page e-book in January 2013 A Guide to Giving is available onAmazon for $2.99 Amazon Prime members canborrow the book for free. We alsooffer periodic giveaways, duringwhich the book is free to all The following slides summarizekey lessons; the book providesmore details and case studies
    • +Thank YouGivology.org | info@givology.org
    • Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi11#innovationlab @mjskok #startupsecrets www.mjskok.comFor context and more information:• The entire “Funding Strategies to go the Distance”presentation can be found here.• For more on the Startup Secrets series, visitwww.startupsecrets.com• Related Startup Secrets presentation recommendations:– Getting Behind the Perfect Pitch– Building a Compelling Value Proposition
    • Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi12#innovationlab @mjskok #startupsecrets www.mjskok.comMICHAEL J SKOKHi Harvard innovation labFunding strategies to go the distancetwitter: @mjskok mjskok.comNorth Bridge Venture PartnersSTARTUPSECRETSCase Example: Givology