Simfoni’s purpose is innovating by originating and sourcing ideas and enabling research, development/proof of concept, and investment in prospective solutions.
Raise a USD 300 million in assets on Economic Empowerment Platform by the end of 2021 for investment in Low Capacity individuals and families, which features micro-lending, debt and contract settlement, technology investment and Precision Equity (Precision Equity is an equity investment in the individual, much like a debt contract). Low Capacity is a designation that will be defined by the findings shared in our white papers, but will include capacity for new debt, skills and abilities, outlook, and other factors. We plan to invest funds in the first 12 place-based projects by the end of 2021, and the remaining within 180 days of deposit, into the Opportunity Zones and other incentives-aligned opportunities of Client Communities to promote dignity and equality, skills for the future, wealth creation and employment, and community and social vitality. Client Communities are communities that have expressed interest in our Economic Empowerment Platform.
Develop AI to direct 90% of productive resources, including for skills building, goals, goal tracking, and pathways mapping, mentorship opportunities and relationship development, and financial management training, in at least one Client Community through the technology platform by the end of 2021. Client Communities are those with an interest in establishing a Simfoni Economic Empowerment Fund and a signed Notice to Proceed. Currently, an in-person visit to different social or civic organizations is required to access these resources, which can be inefficient, confusing, and time-consuming for the people who need them the most. We seek to equip 120,000 users with basic technological needs including mobile devices and internet access and deploy IoT and web application technology into 12 Client Communities. We will pilot distribution of 10,000 devices in at least one community in 2021 and strive to meet basic needs in all 12 Client Communities by 2025. An onboarding program will need to be developed to ensure that good early technology and AI usage habits are developed and ensure technology gains don’t fall short.
By the end of 2022, two white papers will be made available to select Simfoni users to discuss findings across a representative set of communities by population: an initial paper focused on one community and a subsequent one focused on variation across a population.
Metrics that are of keen interest are: Debt Capacity, or how much debt a household is estimated to be able to assume as a percentage of household income and the household’s appetite for future debt as quantitative and qualitative measures, which accounts for attitudes toward debt. In addition, productivity metrics, measured as time from goal set to goal accomplishment, and well-being metrics, such as reported and observed sense of fulfillment, life outlook, and health will be presented. Recommendations and tracking for accountability measures and metrics of secondary and higher education institutions will be developed featuring first-job annual income/tuition and first and second employment tenure by demographic. Behavior-based “credit worthiness” metrics will also be presented for testing. Finally, we will develop a community profile, which includes a profile of currently foregone investment opportunities with an emphasis on gender equality, circular economy, and sustainability opportunities. A full version of the report will be made available to select Simfoni users. We will incorporate these metrics across 100% of our projects in that community. We will also join or build coalitions that are representative of the community’s United Way, community foundation, community leadership and business authorities, banking sector, major employers, workforce authorities, housing projects, and hospitality industry leaders to catalyze adoption of these metrics by other organizations working in the community.
Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.