Eirium Technologies, Inc

Address: 470 Ramona Street

City: Palo Alto

State: CA

Zip: 94301

Country: US

We are leveraging state of the art technology to build a decentralized, transparent, data-driven, digital infrastructure for the social good sector. The social good sector is defined as encompassing development assistance, humanitarian relief, and charitable organizations. This sector is the backbone behind the 17 Sustainable Development Goals that nearly all countries in the world have agreed to achieve by 2030. The sector has a worldwide annual turnover of over US $2 trillion. The sector is massively fragmented and extremely inefficient. Despite huge compliance costs it is estimated that 30% of funds get lost due to corruption. Further 10% are paid in bank fees and lost due to exchange rate differences. At the same time, customer acquisition cost (getting individual donors onboard) is often as high as 60%. Only a small percentage, some have estimated it to be as little as 9% of the money given to charity, reaches the beneficiaries. There is little collaboration between organizations, leading to duplication of efforts, and lost opportunities in achieving savings through economies of scale – savings that have been estimated to be as high as 40%. Organizations are neither reaping the benefit of a network effect, nor achieving collective impact gains. This is leading to donors losing trust in the social good sector, which in turns leads to less funding. With such a high percentage of the money raised for charitable causes being lost in corruption, operational inefficiencies, and banking fees, a solution that increases transparency and improves operational inefficiency, simply by 5-10% creates a massive opportunity for social good organizations to increase their impact with more money being made available to the beneficiaries themselves. Making the world a better place is a big business that is ripe for disruption, and we want to make the social good sector more efficient, impactful, and inclusive and we can do this in a sustainable manner, in a market that is largely untapped today. We plan to do this by building a common „digital infrastructure“ for the social good sector to operate on top of. This allows us to enable achieve economies of scale, greatly reduce inefficiencies, and improve transparency across the whole sector. This infrastructure provides common services that not only improve current approaches, but also enable new and innovative approaches to dealing with social problems.

Contact Phone:

Contact Email: