Idea Overview:
Nearly 50% of college students are dropping out annually due to financial struggles, GapFundr emerges as the solution. Our platform serves as a vital resource for students and institutions alike, seamlessly integrating into existing financial aid services. Students create profiles, share campaigns, and receive contributions directly applied to their aid without impacting scholarships, grants, or loans. GapFundr's innovative Software as a Service (SaaS) model ensures easy integration, empowering institutions to enhance their support for students. Join us in closing the gap in educational funding, one contribution at a time. GapFundr: Your pathway to financial aid accessibility.
Who might use it/where it might be used?:
GapFundr aims to bolster institutions' financial resources. As we expand, corporate partnership opportunities grow. Companies can donate to our subsidiary non-profit, garnering 501(c)(3) tax deductions. This supports student funding and enhances student-corporate ties. By bolstering our corporate connections, we facilitate student engagement, offering avenues like internships and job shadowing programs. GapFundr envisions becoming the go-to marketplace for student funding, making secondary education more accessible. Through dynamic partnerships, GapFundr will evolve into a comprehensive student and institution resource hub, ensuring every student's path to success.
The Market (B2B, B2C or Both):
Sector the idea belongs to:
Is there a similar idea to be found?:
Companies that are similar to our are; gofundme, Gravity, Graduway, and CampusLogic. Each one of these platform offer a way for student to use crowdfunding the improve outcomes for students in need. How we differ is that we work directly as a service for institutions so that they are able to ensure the safety and security of all contributions provided to a student. Each of these platform are online.
Why you think there is a demand for your idea?:
As the enrollment cliff looms over colleges and universities, with nearly half of students dropping out yearly due to financial struggles, a crucial need arises. Traditional education pathways no longer suffice, burdening students with crippling debt and deterring their dreams. Now more than ever, students crave support and community backing. GapFundr emerges as the solution, bridging this gap with options. By offering students funding alternatives without the shackles of excessive loans, GapFundr empowers them to pursue their aspirations with confidence. Together, we can rewrite the narrative, ensuring every student feels supported on their journey to success.
Who would be the ideal customers?:
1. Secondary education students seeking financial aid. 2. Educational institutions, such as colleges, certification/ trade schools and community colleges looking to enhance their financial aid services. 3. Companies interested in supporting education and engaging with students through corporate partnerships. 4. Individuals and organizations passionate about supporting students' educational endeavors through charitable contributions. 5. Non-profit organizations focused on education and youth empowerment.
What ideas do you have to reach these customers?:
Guerrilla marketing tactics like street art and on-campus activities ignite enthusiasm for GapFundr among college students. Site gamification ensures an engaging experience, driving organic promotion. Host immersive workshops offer firsthand insights into GapFundr's benefits and forge strategic partnerships. Craft compelling content and tailored email campaigns captivate students and stakeholders. Proactive engagement at industry gatherings fosters collaborative connections. Utilizing data showcases GapFundr's success and fuels growth. Together, these approaches cultivate a vibrant, collaborative environment, amplifying support for students' educational journeys.
How far have you developed this idea?:
We've engaged with numerous potential partners and seek mentorship to transition beyond the ideation phase. While our SaaS is operational and we've validated our proof of concept, we recognize the need for further refinement. Feedback from financial aid directors has been positive, with one calling our service "truly genius" for its integration with financial aid. However, concerns have been raised about the lack of engagement with our UI/UX and occasional software glitches. We're committed to addressing these issues to ensure a seamless user experience.
What – if any – feedback have you had for this idea so far?:
Feedback received includes concerns about the perception of "the poor helping the poor," suggesting a need for clearer positioning. Students desire mobile accessibility, favoring an app format for increased engagement. Donors question credibility and express UX concerns, citing limited visibility. Survey respondents often note their own financial constraints, hindering their willingness to support others. Addressing these insights is vital for refining our approach and fostering greater trust and engagement.
What supporting material – if any - would you like to add to your proposal?:
Bellow is the link to my slide deck presentation and website: https://docs.google.com/presentation/d/16KOGrKmwL53NcWNsqcjinOwDbjaVDeGX/edit?usp=sharing&ouid=101371496522580423868&rtpof=true&sd=true GapFundr's Website: www.gapfundr.org

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2 comments to “GapFundr”

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  1. Bill Murray - April 21, 2024 at 11:44 pm

    This is a great concept, but it is too big with too many dependencies at this early stage to be able to quickly develop it. Like trying to build a car without having yet invented the component systems that make it go. Do this: What is the simplest versions of this idea that you could simultaneously prototype (read: manual, no coding required) where you could test the risky assumptions of your proposed biz model.. e.g. : “corps will contribute”, “universities will go to bat for their students”, “students will be able to help drive this process”, etc. Happy to discuss– Bill Murray, https://www.linkedin.com/in/bill-murray-mentor/

    • Ponce Durr - April 22, 2024 at 12:38 am

      Hey Bill, it’s great to hear from you again. Thank you for your insightful feedback. You are spot on with your suggestions, and we have already implemented those strategies into our Minimum Viable Product. You can find it at http://www.gapfundr.org, specifically designed for students, which has helped us assess our next steps and implement our strategies strategically.