KarmaBazaar

This is Jane…

…so begins the pitch for KarmaBazaar, an online marketplace that will connect micro-entrepreneurs (such as those funded by Kiva) to a distribution and transaction engine with global reach (think Amazon.com).

KarmaBazaar is the brainchild of Vinod Kumar, an aspiring entrepreneur who wants to link together the benefits of Kiva and Amazon in order to expand sales channels for micro-businesses. The point is that Kiva, however noble their intention, can’t ensure success by simply funding a project. Amazon on the other hand, has a long-term vested interest in showing commitment to sustainable business practices. There’s a natural fit here.

Vinod met with me to practice his initial pitch and get feedback about the concept. The idea was fundamentally sound, but we made some significant changes right away. He had been pursuing non-profit organizations as a pathway to international, underprivileged entrepreneurs. It didn’t take us long to understand why he was having a hard time getting their attention. A focused conversation around that challenge helped us realize that there was a more direct and scalable path to market. That fundamental change to his concept saved him a lot of time and aggravation.

Further, by discussing the whole idea from beginning to end we realized there could be a weak link; neither Kiva nor Amazon necessarily have an end-to-end distribution network that can reach entrepreneurs everywhere. But a separate meeting I had with the former President of TiE-Boston’s Social Entrepreneurship Group revealed how groups such as Ten Thousand Villages and The Emancipation Network have such infrastructures in place already. I was able to connect Vinod to those resources so he can focus on building out the new pieces that will make his company unique, instead of reinventing the wheel.

Not bad for a 90-minute introductory meeting…

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“Discussing my project with Kai led to me to picture the concept from multiple perspectives. I started seeing more than one way of reaching some of KB’s goals (e.g. a discussion about building the site on Amazon and using Amazon’s fulfillment services). Plus, his questions on market size made me realize what was missing in my preparation to have a VC level conversation. He was able to relate to my idea quickly and that gave me confidence that my pitch wasn’t that bad!”

Vinod Kumar, Founder
KarmaBazaar