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Mali Round 1

Team Name: Mali

IDEAS Project Pitch: Hi, we’re Mali and we’re passionate about empowering microbusinesses so they can connect with and reward their loyal customers. We are creating a loyalty program that leverages blockchain technology to eliminate fees.

There are 3 million microbusinesses employing over 26 million people in the US alone. The number of microbusinesses is growing, yet it remains underserved when it comes to loyalty programs. Many microbusinesses rely on paper punch cards to keep customers coming back. They are competing with corporations like Starbucks and its powerful rewards program, which drives 36 percent of Starbucks revenue, or $7 billion annually.

Mali wants to empower microbusinesses with a simple yet sophisticated tool like Starbucks Rewards. We spoke with farmers market vendors, hair stylists, coffee shop owners, and food trucks and they are all looking for a solution like Mali. Existing services like Square and Levelup charge expensive fees around 3%. Mali will leverage blockchain technology to eliminate these fees.

We have a huge opportunity here, with the $2B loyalty program market.

Sectors: Education & Training, Finance & Entrepreneurship, Mobile & Communications, Other

Project Location: Urban cities, US