Skysthelimit.org, a non-profit supporting underrepresented young adult entrepreneurs, provides a similar digital experience to matchmaking apps, but is for entrepreneurs and business mentors. It uses the same artificial intelligence that social networking sites use, only its goal is not to, say, create addictive habits online to sell more ads, but instead to match entrepreneurs with a network of volunteer business mentors. Skysthelimit.org develops the social capital of first-time entrepreneurs to increase their chances of building successful businesses quicker.
The 501(c)(3) tech nonprofit, which was founded by Blockchain.com co-founder Nic Cary and lifelong friend Bo Ghirardelli, is based in Oakland, CA and uses data from entrepreneurs and volunteers, such as skills, industry, location, and stage of business, to predict and recommend high-quality matches.
How’s it work?
“The way we match entrepreneurs with business advisors and mentors are not too dissimilar to how a dating app will look at your preferences, and use its algorithm to make a recommendation,” said Mr. Ghirardelli. The platform encourages entrepreneurs and volunteers to start a conversation using in-app messaging.
“We are building a digital experience that really mimics how people build relationships naturally,” said Mr. Ghirardelli. “It’s not too different from how we meet someone new in the professional world. There is some kind of intro email, then we have our first few meetings, and eventually we decide whether it is a good fit to keep collaborating together. Unlike in dating platforms, we guide our entrepreneurs and mentors to commit to each other to set expectations around their collaboration—whether they’re working on creating a business plan or launching a digital marketing campaign for a young entrepreneur’s new product line.” These collaborations help a first-time entrepreneur develop social capital, vital business knowledge, connections, and confidence.
“We can use data to help instantly create better, more positive outcomes for our community,” said Mr. Cary. “We can A/B test new features rapidly, and analyze results in real-time. Like other tech platforms, we look at users’ time on site, we’re looking at satisfaction, surveys, and we can study all the points across the conversion funnel through our whole pathway to business ownership, and start to refine that process in an intentional way because we sit on a lot of data.”
Who is elected?
Skysthelimit.org has a unique startup grants program, powered by a custom Hyperledger blockchain, where the community of entrepreneurs, volunteers, and donors vote each month on eligible young entrepreneurs to select who wins these grants to help them launch their business.
source:
https://www.forbes.com/sites/justinoconnell/2020/02/03/how-a-blockchaincom-founder-is-fighting-poverty/#14ffd3299f03
