Santa Monica, CA (PRWEB) November 03, 2011
Peer-to-peer micro-investment platform InVenture is proud to announce today, “InSight”, a short messaging service (SMS) application for use by InVenture to track financial and social metrics of its micro-entrepreneur partners. Data captured by InSight will link individual micro-entrepreneur to systems for tracking and analyzing financial performance, and give online supporters valuable information for measuring the social benefit of their “InVestment.”
“InSight is a powerful tool that can work on any mobile device and provide the InVenture team with an understanding of how to further help our clients grow and be successful,” says Shivani Siroya, InVenture’s CEO and Founder.
Developed on Intuit’s txtWeb platform, micro-entrepreneurs are prompted to report their daily revenue and expenses via SMS to the InSight system. Data is tracked and analyzed by the InVenture team, and easy to understand reports are returned to the micro-entrepreneur so they can follow their growth. The data captured by InSight will also be made easily accessible by researchers, market analysts, and others interested in measuring the implications of small business growth on families living in poor communities.
Intuit’s txtWeb team is working with NGOs and social enterprises that are using SMS to reach their constituents at the base of the pyramid. The team believes that txtWeb can be a very useful platform for fast and inexpensive experiments using SMS, and that InVenture’s InSight service represents a perfect opportunity to put its technology to the test.
“The beauty of InSight lies in its simplicity. The client responds to simple prompts and the responses are organized in such a way that allows organizations to easily access and analyze from anywhere in the world.” says Rupesh Shah Corporate Sustainability Director of Intuit.
InSight will initially be rolled out to InVenture’s partner organizations in India, with Mali and Mexico to follow soon after.
“We piloted this program last Spring and the data was revelatory,” says Siroya. “Being able to track this data on a macro level will make us a more valuable partner to these businesses and ultimately help evolve the industry as a whole to become more effective and transparent,” she said, “It’s very exciting.”
For more information about InVenture, please go to http://www.inventure.org or follow on Twitter at @inventurefund.
Jon Blackwell – Director, Product Development, InVenture – Jon(at)inventure(dot)org
Rupesh Shah – Director, Corporate Sustainability, Intuit - Rupesh_Shah(at)intuit(dot)com
InVenture is the first micro-investment platform that allows everyday individuals to invest in small businesses in under-served communities across the globe. We believe that providing small businesses with investments - a type of financing which most small businesses cannot access - will enable them to achieve real growth and financial independence, and help fight poverty in their communities. With a presence in India, Mexico, and Mali, InVenture connects supporters with growing micro-entrepreneurs in these areas through its online platform, and allows them to re-allocate the returns from these investments in future micro-businesses. Through the growth of this approach, InVenture hopes to create a world where micro-entrepreneurs will have access to the financial, social and intellectual capital necessary to expand their businesses and drive local growth. For more information, please go to http://www.inventure.org.
txtWeb (http://www.txtWeb.com) is a global-ready SMS app platform that makes information inclusively available for the first time. Mobile users "pull" information from txtWeb when they want it, like the Web. Users store one national number on their phone (92433 42000 for India; TXT-WEB or 898-932 for the US), and then use that one number to request via text a growing variety of services provided by an open community of organizations and individuals. txtWeb's goal is to transform the lives for over 3 billion people worldwide who have been shut out from digital technologies up to now...but have a mobile phone. These individuals have been missing out on important services that directly impact their lives, including government programs, jobs, news, finance, health, education and market prices -- services that are often found on the internet, but not accessible with simple feature phones...until now. Also, importantly, for organizations and developers, txtWeb is one of the fastest platforms to make content and services available to billions. Deploying existing content via a txtWeb site takes only 5 minutes. Creating and deploying an SMS-based app on txtWeb usually takes about 5 hours.