Photo - CosVcare
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CosVcare

Social media & crowd funding platform with AI & blockchain

Market: Internet and IT, Information and media, Blockchain, Crypto currency, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 01.11.2020
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Idea

The whole world is suffering from Covid-19. This is a platform allowing people seriously suffered from Covid-19 or in other critical situations to pitch for support including but not limited to social funding. The platform also provides auto-matching for needs and individuals or organizations offering helps.

Current Status

MPV is developed, target to launch the platform in 2 months.
Raised seed funding of $350K.
Working with a paying B2B customer for implementation.
Have built the team of 4 and still hiring.

Market

B2C:
* People in critical need (particularly targeting the groups of Covid-19 currently)
* People who want to offer helping hand and feel good about giving

B2B:
* NGOs, insurance, healthcare

Initially target North America and Europe, then eventually moving to the rest of the world.

Problem or Opportunity

Billions of people suffered from Covid-19, many needing help but found no appropriate channels. This platform is a mix of social media and crowd funding, allowing a softer approach for people pitching for support, including fundraising or non-financials. Organizations like NGOs, insurance or healthcare may also create corporate accounts/ pages here to offer supports or services to the similar target groups, the platform provides auto-matching too.

Solution (product or service)

For individuals who are in critical situations (e.g. those were seriously impacted by Covid-19, or suffered from critical illnesses, or with other serious problems), they may post a pitch for support thru the platform and invite their friends and families to join and action. We will also promote the brand by associating with people who like to do good for people.
Users may also create a memorial page for those who passed away due to Covid-19 – allowing others to pay tributes to and make donations directly.

For organizations who are either NGOs or having a corporate social responsibility mission, this platform may allow them to offer services directly and match their targets here.

Competitors

Fund raising competitors: Chuffed, Fundly, etc.
Social media competitors: Facebook, Twitter, IG

Advantages or differentiators

We are a mix of social media and crowd funding platform, a much softer approach for fundraising, and also intending to keep people staying with the platform even after the raise. We offer blockchain token as an option for funds so to build a large ecosystem and the same token can be circulated for larger usage.

Finance

B2C:
• Transaction fees – we take a small percentage for every ShareWon (our blockchain token) transaction
• Charges for special features
B2B:
• Advertising
• Royalty or licensing fees using ShareWon in 3rd party platforms
• Corporate account premium charges
• Online shop setting

Our cost structure is simple and lean, the main costs are people, IT spends, and marketing.

Business model

B2B: work directly with NGOs, insurance and healthcare for corporate accounts and joint marketing programs
B2C: focus on some particular groups (e.g. Covid-19) and get them to sign up as users and start pitching for supports.

Metrics:
# of users
# of corporate users
Revenue
User growth

Money will be spent on

Salaries, IT development, marketing, and global expansion.

Offer for investor

Partnership for adjacent business (e.g. insurance, healthcare, social programs, etc.)

Team or Management

Risks

People's skepticism about the platform and the dependency on marketing.
Fake accounts or fake stories created in the platform.
Lack of interest by target organizations.

Incubation/Acceleration programs accomplishment

Accelerator completed:
International Security Accelerator Ireland
Incubation participating:
AI Venture Australia
PolyU Microfund program Hong Kong

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video