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Georgetown MBA Student - 1st Year
"If you achieved all your dreams, you may have not dreamed big enough"
Currently I am a 1st year MBA student at Georgetown University. My focus is in technology and social entrepreneurship. I have a background in mechanical engineering and previously worked at 3M Company. I'm very excited to be a part of the OpenIDEO community.
I was able to speak with my my friend Kevin at the UN Foundation yesterday and I thought it was pretty insightful. When looking at this EnergyLend platform, I would look to current examples like the UN Foundation and Acumen Fund. They are the controllers of the funding, and entrepreneurs/individuals for funding would are required to submit an application with details about their business plan and proof of concept. That process in itself is very thorough and solid, so that would be a good place to start in terms of creating a trusted relationship between lender and lendee.
For EnergyLend it would be about creating a solid upfront and thorough process of receiving and verifying potential lendees. This would include metrics about who their impacting, what RE is needed, costs, etc.... This would allow for a story to be told, but also a strong way for EnergyLend to create a strong vetting process upfront to ensure trusted relationships.
Overall, one way to look at EnergyLend is that of a Fund that has gathered resources from people looking to invest in impact but also have an ROI. Potential Lendees could apply for funding of RE in their communities by applying to become a Lendee of EnergyLend. This is pretty high level at this standpoint, but I think serves as a good starting point. If you have any questions, please feel free to ask.
I think the story telling aspect of this model is key, having a bio and specifics about the project allow people to become invested emotionally in the lending process. This is key, and should be a focal point of the lending model, which it already sounds like it is. Great way to create a bridge of trust.