Youth Enterprise, Innovation, and Economic Development Program i.) our program ii.) our business model iii.) how we scale it iv.) who benefits v.) our targets vi.) seed funding required vii.) our teams 1 i. 3P in 30 seconds Not-for-profit social enterprise for 13-25 year olds to Earn Learn and Make a Difference in local communities. Youth are incentivized with POINTS for doing hands-on tasks that enable them to experience success, often! . Our model generates revenue by selling points to adults and businesses, transaction fees from users, and grants from foundations and economic development agencies, and sponsorship from corporates. Our program SCALES using social media, local chapters, and by integrating ‘sales & funding’ into youth learning's. 2 i. How it started… • Marcel (at 9) began selling WormWee (a natural plant fertilizer) door-2-door for $3/ltr (earning $15$20/hr) • After seeing a proven system, his friends joined in • after a year, WormWee seemed not as exciting • we started researching a variety of businesses they could start to suit their age, skills, and interests 3 i. Step-by-Step Prototype... i.) entered “myKidsBiz youth enterprise and life-skills program” into the ...U. of Auckland business plan competition (won 2nd prize -$10k) ii.) used 10k to develop plan further to get 40k govt grant iii.) used 40k govt grant to develop website and go live iv.) once we had 200+ users we raised 150k of private funding v.) used 150k funding to run prototype for 6 month Result: 2700 youth from 100+ schools, started 300+ businesses, submitted 5,000+ ideas to improve our program and engage with our sponsors 4 i. Typical Youth Users: Over 200 youth earned enough points to receive 300+ rewards like pre-paid phone credits, music & book vouchers, and mp3 players. Points were often redeemed quickly as they were earned. High Performing Users: Jono How (a 15yr old from Auckland NZ) joined my3P on Feb 20th 2006. He was an active participant in the IDEAS & VOTING section where he developed many ‘winning’ ideas that earned points. Unlike typical users, Jono did not cash in his points on ‘phone cards’ or ‘movie tickets’. His goal was to earn enough points for the biggest reward, an HP laptop computer. On June 17th 2006, after 117 days in the program, Jono redeemed his points and got his new… HP Pavilion dv1354AP laptop. Jono graduated from University of Victoria and intends to setup a 3P chapter in Wellington NZ. 5 i. Youth make real money with proven business templates for different ages/skills 6 i. Skills used to earn points by... innovating improvements and doing projects for sponsors, and each others’ businesses. Examples: We create idea competitions that develop our users innovation and peer-2-peer feedback giving skills... 1. How can we improve 21 yr old Sam Jones’s new iPhone App being launched next month? 2. How can we help Sue’s Pizza Restaurant get 300 new customers next month? 7 i. Idea competitions from 2006 8 i. Skills youth develop are used in... initiatives that apply social and environmental issues, science, technology, agriculture, food, health, etc Example ‘Idea Competition’ Question... How can we reduce the environmental impact of commercial dairy farming while increasing profitability? 9 i. peer-to-peer-to-peer 2006 Prototype 2012 Version creating idea topics my3P created all topics and paid all points Users can create their own idea topics and pay other users to participate in exchange for points creating projects my3P created all projects to develop our own program Users can create their own projects for others to do in exchange for points achieving goals redeeming points 10 Users could set and track their User can invite specific contacts or the own personal goals entire community to help them achieve each goal in exchange for points my3P bought all rewards that youth could redeem their points on All users can list products/services that other users can redeem their points on i. Dashboards 11 Customised for: youth, schools, cities, countries ii. Our sustainable revenue model Subscription fees are paid by business owners or individuals in exchange for points. Points are used to engage with youth who do tasks and projects that help our subscribers. . Transaction Fees: Similar to PayPal or other virtual cash systems, whenever points are transferred between users for goods or services, a 3% fee is charged from their points account. . Grants : Many foundations and govt economic development agencies have ongoing mandates to support youth in ways that will create future economic growth. 3P will supply our services to these orgs as long as demand exists. Sponsorships are invited from large corporations who want to be associated with worthwhile projects. 12 ii. Who is our target market... For users entrepreneurial youth (aged 13 to 25) with Internet access. For point buyers (subscribers) i.) consumer businesses wanting to improve bottom line ii.) extended family and neighbours wanting to support youth For grants i.) foundations who support youth development initiatives ii.) government programs wanting economic growth 13 ii. What is in it for businesses … Brand engagement: business owners want their product or service to be well known by their potential customers. 3P’s engagement tools enable their brand or product to be directly engaged with via our idea competitions and specific projects. . Innovation and Increased Profitability: the 3P community is designed to engage with businesses in ways that improve their products, services, marketing, and ultimately their profitability. . Future team members: by engaging with the local users, business owners can see first hand who are the most innovative and productive youth. This makes identifying and hiring good team members easier. 14 ii. 15 iii. How we scale the program… Chapter Partners earn by running great programs i.) school/uni chapters (student run) ii.) local chapters (20-50 schools) iii.) national chapters *ideal partners are organizations with existing infrastructure and funding relationships We leverage Social Media & crowdsourcing i.) invite-a-friend (2006 results=3% growth/day) ii.) setup 250 member advisory group in chapter (25c) iii.) we have over 400 members in our Social Media teams Sales systems are built into youth learning's i.) youth approaching and enrolling businesses ii.) youth applying for local grant funding iii.) youth inviting investors to participate in local seed fund 16 iii. How we grow chapters School Chapters i.) grow and support users at their school ii.) funding from ‘very’ local grants & sponsors Local Chapters i.) setup and support school chapters ii.) secure local funding from grants & sponsors National Chapters i.) set up national not-for-profit entity ii.) support local chapters in growing user base iii.) secure national funding from grants & sponsors 17 iii. How we leverage Social Media Our 5000+ member advisory group & subgroups are used to leverage skills & contacts when setting up programs in each region. 5% to 10% show an immediate interest in being actively involved in the programs local development. 90% are likely to be more loosely connected by helping with: i.) identifying local funding sources ii.) identifying local execution partners iii.) introducing local youth to the program iv.) identifying local subscribers (business owners and individuals) Advisory group members cost us under 25 cents each to acquire. We have proven this to be replicable in every city by using existing social media platforms such as LinkedIn, Facebook, and Twitter. 18 iv. Who benefits from my3P... Direct Beneficiaries Indirect Beneficiaries Youth Business subscribers Individual subscribers Schools Charities Sponsors Foundations Economic growth agencies Teachers Parents of our youth Future employers of our youth Future employees of our youth Angel investor groups Business incubators Govt tax collectors  19 v. (per chapter targets) Results Year 1 Year 2 Year 3 youth enrolled 1,000 1500 2000 youth enterprises started 100 150 200 mthly subscriptions revenue (business & individual) $40k $150k $320k total costs covered by subscription revenue 20% 50% 80% 20 v. Results Minimum Stretch 2012 3 cities (1-big, 1-med, 1-small) 3,000 youth 300 youth enterprises Rev=$600k 9 cities (3-big, 3-med, 3-small) 9,000 youth 900 youth enterprises Rev=$1.8M 2013 9 cities 9,000 youth 900 youth enterprises Rev=$1.8M 15 cities 15,000 youth 1,500 youth enterprises Rev=$3M 2014 15 cities 15,000 youth 1,500 youth enterprises Rev=$3M 25 cities 25,000 youth 2,500 youth enterprises Rev=$5M (country example) 21 v. Results minimum stretch 2012 3 countries 9 chapters 9000 youth 9 countries 27 chapters 27000 youth 2013 9 countries 27 chapters 27,000 youth 30 countries 90 chapters 90,000 youth 2014 30 countries 90 chapters 90,000 youth 90 countries 270 chapters 270,000 youth Global 22 vi. Seed Funding Required = $100k/city (for 50k-500k populations) Use of funds To users in points % of funds 60% (to be earned and redeemed) local chapter operating costs 20% (wages, expenses) platform costs 10% (content, eLearning) global operating costs (wages, expenses) 23 10% vii. Our Global Team Melissa Strangio - Netherlands http://nl.linkedin.com/in/melissastrangio Worked with European Commission on Youth Enterprise Year with 50m budget Cristian Toledo - Chile http://cl.linkedin.com/in/cristiantoledo Dr. Claudio Parrinello (ceo) Switzerland http://ch.linkedin.com/pub/claudio-parrinello Former Head of CERN ‘Knowledge & Technology Transfer’ division 24 Dr. Christopher Daniel - India http://in.linkedin.com/pub/dr-jchristopher-daniel-ph-d/3/875/366 Carole Gallant - UK http://uk.linkedin.com/in/carolegallant Raised over 5m for her not-for-profit youth programs over last 4 years Roii Patterson (founder) - Canada http://ca.linkedin.com/in/roiipatterson