The Sidq MVP allows philanthropists to create groups called "Family" and invite trusted friends and colleagues who share their passion for humanitarian causes. Within a Family, members can propose and vet causes, and fellow family members can participate in various causes without being obligated to contribute to every cause. Donation targets, aims, and deadlines are set for each cause, and funds are kept in escrow until maturity, after which they are used to make payments to appropriate institutions that will benefit the beneficiaries. Continuous follow-up is conducted to ensure that the beneficiaries are benefiting from the funds, and leads ensure the cause is achieving its purpose.
Features
- A common interest
- Trust built from friendship is emphasized
- Vetting of cause by member who initiates it
- Group vets and approves cause
- Donate anonymously
- Choose which causes within the Family to participate in
- Participate in the distribution of funds to beneficiaries.
- Each cause has a separate funding account
- Funds are held in escrow until maturity
- Funds are used to facilitate beneficiaries not given to them directly
- Group members do not control or come in contact with the funds
Market Feasibility
- Pre-launch survey shows strong positive acceptance of the product among the target market, with over 80% of respondents expressing interest in purchasing the product.
- Market research indicates a potential market size of 10 million consumers, with a projected annual growth rate of 5%.
- Competitive analysis suggests the product has a unique value proposition compared to existing alternatives, with a lower price point and superior features.
- Based on these metrics, the product has a strong market feasibility and potential for success in the target market.