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Seva Exchange Corporation

Give What You Love to Get What You Need!

USA, California
Market: Information and media, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 10.02.2021
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Idea

SevaX app offers relief to the cash-strapped, the furloughed, the unemployed so they can preserve scarce funds for vital necessities and pay with Seva credits for discretionary needs. Our platform algorithmically matches resources of time, money and goods to the needs of a community.

Current Status

We have a beta version of our product selling on the market. We hope to have a full launch of our software by March 2021. Andrew Yang’s presidential campaign deployed a white label version of our timebanking platform for his campaign branded the “Humanity First App.” We deployed the first Timebanking deployment with 6 nonprofit organizations in Anchorage, Alaska led by the Poor People’s Campaign. Partnering with International Domestic Violence group to promote our SevaX App. Currently in the pipeline, we are in talks with California Community Action Partnership Association that communicates with the 58 California counties on programs to help out low-income communities. Also, Dartmouth is starting a timebanking pilot first within their hospital workforce and then later the greater community surrounding it. In terms of partnerships, RightGift signed a co-marketing partnership, where we get 50% of the profits from our referrals. Democracy Watch News is our latest partner who will deliver hyperlocal news to our communities and invest in the volunteer journalists from our Seva Communities. More and more partners are engaging as we gain exposure.

Market

Our customer segments will be Silicon Valley corporations, the local municipalities surrounded the SF Bay Area, nonprofits within the area, and any other community-minded organizations. We will also open the app up to individuals that are not part of a Seva Community to still ask and offer volunteer help. Creating an entire system of needs to resource sharing is what we are aiming for.

Problem or Opportunity

1)The remote workforce today is feeling very disconnected from their colleagues. SevaX App platform has the ability to facilitate collaboration seamlessly so employees are more connected.
2)Employees feel disempowered in this new virtual normal workplace. Employees using the SevaX App are more empowered in this new virtual normal workplace.
3)Walls end up being built between departments preventing a transparent.
workforce. SevaX provides a bridge between a repository of needs and match them with potential solutions direct from employee input.
4)There's a corporate disconnect in America with how to represent company in a polarized environment.Corporate America will have a fair and balanced way to represent company in a polarized environment using our product and this alone will be reason enough to pay for our app.


Solution (product or service)

Organizations and their employees can:
1)Easily Create Their Own Seva Community
2)Fundraise for Community Events
3)Start a Group Around a Common Goal or Interest
4)Contribute Time Through Service
5)Get Rewarded With Seva Credits
6)Use Seva Credits to Request Personal Help
7)Members Can Donate Service Credits, Money, or Goods Back to the Community at large.

Competitors

Our social media platform could be compared with Facebook and Nextdoor, but with secured data, timebanking capabilities. The social media and messaging capabilities far surpass our standalone timebanking software competitors.

Advantages or differentiators

In the world of tech anything can be copied. We are in the process of patenting our AI matching and recommendation engine.

Finance

We offer several affordable plans to smaller communities as small as Friends and Family for $15/month to nonprofits at $1500 per year and Enterprises for $2 per month per employee.

Business model

We have a SaaS based model. We have many verticals: Communities, Nonprofits such as Impact, Faith-based, Political Campaigns, and Corporations focusing on Corporate Social Responsibility.

Money will be spent on

Marketing and hiring sales team and further software development.

Offer for investor

Depending on the amount we will offer up to 10% of the company. Our valuation of our company, including our software and talented team is at around $10 million.

Team or Management

Risks

Building a social network focused on giving and receiving can be risky when there is not sufficient funding to scale it globally. Continuous user engagement and product updates needed to keep members active within the platform. There are many competitors in this space and most have not reached the levels of engagement as Facebook and Twitter.

Incubation/Acceleration programs accomplishment

Founder Institute 2018 Summer Graduate

Won the competition and other awards

Meaningful Business 100 Award for top 100 Companies having Social Impact
Top 5 Finalist at Pitch 4 Purpose Founder Institute Global competition.

Won pitch competitions held at Google, Oracle, and several other online events.

Invention/Patent

We are in the process of patenting our AI Recommendation and Matching engine.

Photos

Photo 1 - Give What You Love to Get What You Need!
Photo 2 - Give What You Love to Get What You Need!

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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