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Covoucher - Support small businesses in your local

The first online voucher platform of Turkey to support small businesses at local level by providing them liquidity &financial sustainability

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The Covoucher is the first online voucher platform of Turkey to support small businesses at local level by providing them cash liquidity and financial sustainability, bringing together in an online platform (a website) their frequenters (customers) who are staying at home considering the protective health measures and a great number of small businesses from various sectors (such as cafes, bars, restaurants, barbers, bookstores, theaters,and many more) that are obliged to close their doors during the COVID-19 emergency lockdown following the legal restrictions imposed on them, thus they are confronting with the negative economic consequences since their sales have stopped. At Covoucher, customers choose their favourite places, buy vouchers now to support those respective businesses to help them financially survive, and use their vouchers whenever they want once the emergency is over and small businesses open their doors again.

What is the need are you focusing on?

Our mission is to create financial liquidity to support the small businesses at local level in the short term, reducing the negative economic impacts of these necessary preventative health measures during the nation-wide lockdown in Turkey. Small businesses make up approx. 80% of the national economy in Turkey and approx. 70% of the national employment in Turkey. In this term, they are the most critical leg that is needed to stay “alive” in the country. However, the most of small businesses in Turkey are incapable for technologic development (such as online sales, e-commerce,etc). And this makes their pain double during the COVID-19 lockdown while their doors are closed. That said, we are empowering them with our online voucher platform to sell future customers their products / services smoothly.

Which type of submission are you sharing?

  • Identifying a gap that needs to be addressed
  • Sharing an actual pivot your organization has already made

Describe the business pivot or adaptation in 3-4 sentences.

There are major key roles (particularly for kickstarters, ecommerce, retailers, wholesalers,etc) for pivoting their current business models with strong digital infrastructure in good service of cash liquidity foı small business. Currently, they are supporting a limited group of small business such as cafes, restaurants, but not barbers, booktores, others. Also, they are raising short-term funds through consumer/corporate donations,, however there is no collaboration to join forces and there is no approach to community-building, so that consumer experience would be in the forefront as well. In this respect, Covoucher addresses a major need and fills this gap through a digital voucher platform. This will create multi-faceted social impact as follows: Providing a digital voucher support platform to a great diversity of small businesses B2C & B2B transactions together in one platform Community building based on various interests of frequenters Fostering multiple collaborations

Do you plan to implement this solution?

  • Yes

Describe the impact that this solution will create in the world.

This solution “Covoucher” is easily replicable anywhere around the world, rapidly scalable across the regions. The only needed element is a website- that’s it. From this aspect, we’re planning to join forces with similar existing initiatives abroad (some examples from Italy & Germany:https://saveoneseat.com/ , https://helfen-muenchen.de/) to scale the impact across the globe. The solution will bring a brand-new impact model to the social enterprise ecosystem at global level, encourage many giants to contribute to the digital voucher platforms through partnerships and supporting their “younger brothers”. Thus, small businesses will be financially empowered during COVID-19. We aim for this solution to benefit 100,000 small business owners across the world in the next 6 months.Considering the timeline, we will: Introduce the prototype (done!) at local level first (in Turkey) Leverage global networks/accelerators (OpenIDEO, Impact Hub, Endeavor) for finding potential partners and funds

What is the name of your business or organization?

Covoucher

What does your business/company do? Whose needs does your business/company address? Who do you serve?

Born out of the online hackathon “Hack the Crisis Turkey” (on 27-29 March, 2020) which was organised in partnership ATÖLYE, imece, ara studio, Coronathon Turkey, Covoucher is a social enterprise that supports small businesses in terms of cash liquidity at local level (in Turkey) through an online voucher platform. We address the lack of financial sustainability of small businesses during COVID-19 and serve to support them. https://covoucher.eu.ngrok.io/ https://www.instagram.com/covoucher/?hl=tr

What is your profession?

We are diverse team of 5 people:Software Developer, UX Designer, Research Designer, Marketing & Strategy Executive, Management & Technology Consultant

Where are you located (country)?

Turkey

Where are you located (region)?

  • Western Asia

What industry is your business/company in?

  • Technology
  • Social Enterprise

How many people does your business/company employ?

  • 0-10

How old is your business/company?

  • Less than 1 year old

Which classification describes your organization/business?

  • Social Enterprise

What kind of stakeholders and partnerships are needed to pursue this solution?

  • Funding- Grants
  • Funding- Investment
  • Stakeholders/Partnerships- Private Sector
  • Stakeholders/Partnerships- Grassroots/Community Groups

Do you need help building partnerships and finding partners?

  • Yes

If Yes to the above, please share 1-2 sentences describing the specific help you desire.

We need funding both in terms of grants and investments and bold collaborations with various partners (private sector, communities) to scale successfully our business model.

What do you think are the main barriers to implementing this solution?

Financial barrier: We need to receive funding.

Are you aware of any open source efforts, hackathons or other collaborative efforts related to your solution? Are you participating in these efforts?

Yes. Thanks to the generous supports of our facilitators including ATÖLYE, imece, ara studio and precious mentors from Coronathon Turkey, we are receiving new updates regarding the other hackathons, stakeholder collaborations and funding call opportunities every single day. And yes, we are very active in terms of involvement and applications.

Website URL

https://covoucher.eu.ngrok.io/

Attachments (1)

Covoucher_Business Model_Competition.pdf

Covoucher's business model and competitive landscape

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