How is your business helping to solve the health, social, or economic challenges created by COVID19?
The COVID crisis has highlighted, and exacerbated, an existing socio-economic crisis in rural India. 165 million households lack access to the products, services, and income-generating opportunities they need to improve their lives in good times and survive during crisis moments. This access crisis hits rural women the hardest. Limited income opportunities, prevent them from earning, and limited mobility and economic power prevents them from making family purchasing decisions. This impacts the whole rural market, as women make investments that build community-wide economic resilience. COVID-19 has preyed on these vulnerabilities—with rural households facing an acute lack of essential goods like food, medicine, and protective gear, and services like banking and internet; and rural women being forced out of the workforce and into unpaid labor to support growing households as migrant workers return to their villages. Frontier Markets is leveraging its e-commerce, network of women entrepreneurs, distribution and delivery teams to bridge the access gap for rural households. The e-commerce platform allows Frontier Markets to learn what rural households need quickly, and to add new offerings to their virtual catalogue in response. Sahelis facilitate market and sales from their homes and set their own work schedule triggering a delivery from our branch. Using mobile technology, Sahelis can also facilitate digital services, such as mobile top ups or digital banking.
Does your business contribute most to recovery, response, or resilience?
Resilience - we're improving the broader infrastructure for responding to pandemic outbreaks.,Recovery - we're positioned to support in the recovery of those directly affected.,Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market ready product/service. I have sold to customers.
What strengths does your team bring? Include skills and personal experience with the problem.
FM’s executive team has over 100 years of combined experience serving rural markets through e-commerce, microfinance, working in government, rural distribution, energy access, telecom, fundraising, financial operations, compliance and more. FM field staff of 80+ employees comes from the villages served by the company. Frontier Markets has credibility within India from grassroots to highest levels of government. FM has built the model, proprietary e-commerce technology, and local branch infrastructure to drive pilots and to accelerate adoption. FM can manage execution through partners at scale.FM leadership team and management team has years of experience working on the current model as well, operating it for over 9 years, developing processes in training, mapping, distribution, product understanding, market insights, rural customer insights to provide contextual understanding of the opportunity, how to train and invest in rural women, engage product partners, and develop a sustainable business solution.
What countries do you operate in?
India
Is your company headquartered in a US "Opportunity Zone"?
No
