‘Succeeding’ as an Emerging Social Entrepreneur
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Premal ShahPresidentKivawww.kiva.org "Revolutionising how donors and lenders in the US are
connecting with small entrepreneurs in developing countries”
InternetLender
Online marketplace
Local Partner(MFI)
Entrepreneur
Money
Information
Kiva 101
+345,000 social investors have lent +$45 million in first 3 years.
Other Key Stats• Growth: $1M loans every 10 days.• Risk: +97% repayment rate.• Recycle Rate: 65% repayment rate.• NGO Network: 105 NGOs in 45 countries. Growing 3 a month.• Traffic: 700,000 visitors last month• Organization: 35 employees / +400 volunteers • Efficiency: Platform raises $8 in loans for every $1 donated.
5 yr goal = $1 Billion
Kiva applies 3 “Web 2.0” principles to philanthropy
1. Create an “Addictive” Donor Experience
2. Be “Radically Transparent”
3. “Crowdsource” against constraints
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Create an “Addictive” User Experience
“Addictive” = Easy + Fun
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How Kiva tries to make it “Easy” Designed for everyday people, not affluent experts
See your impact in
human terms
Low cost to entry
Quick and easy
checkout
How Kiva tries to make it “Fun” Rich user generated content, changing fast...
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Loans are fully funded in hours
Transactions happen every 18
seconds…
Real time un-edited
updates…
Randomized “1 minute of
fame “ + Lending Teams…
For some, Kiva is becoming very addictive!
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Be ‘Radically Transparent’
Transparency Authenticity Trust
Kiva and Radical Transparency
Paying for Kiva’s overhead is an explicit choice
Kiva and Radical Transparency
Data inaccuracy and defaults are made explicit
“Crowdsource” against constraints
Big constraint? + No resources? =
Crowdsource
Kiva and “Crowdsourcing”
Kiva Fellows Program How do we train MFIs, gather progress updates and verify data accuracy hyper-fast?
Kiva and “Crowdsourcing”
Kiva Translator Program How do we immediately translate entrepreneur profiles from native language to English?
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Kiva and “Crowdsourcing”
We have little money, but great partners!
• Discounted pricing• MySpace fundraising widget• ATM/Debit Card solution for Int’l
Non-profit channel • Free Google Checkout• Free Adwords
• Non-profit channel• Build your own page and recruit friends
• Free / discounted technology
Free licenses
“Actionable” Takeaways
# Web 2.0 Principle Actionable Takeaway
1 “Addictive” donor experience
• Make it “Easy”:• Show me photos of atomic units • Allow / encourage $1 contributions
• Make it “Fun”:• Photo upload is the 80/20• User testimonials• Build community + competitions
2 “Radical Transparency”
• Start a blog• Admit imperfection every step of the way• Let people contribute w/o paying for you
3 “Crowdsource” against constraints
Hard time getting traction in the beginning?• Ink is cheap: Build a huge advisory board• Evite: permission based marketing tool• Rally college students and recent grads
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