What has been the impact of your solution to date?
At the moment, after 1 year operating, MG has it own legal status of a limited company and successfully set up 02 MG groups in Nha Trang Bay MPA and the first and only Trao Reef locally managed MPA in Vietnam (both in Khanh Hoa Province). We gain totally USD 60.000 in 2011, provide job and income for 32 women earning about USD 150/month. None of these 32 women was an artisan before they enter MG’s program. They even have no job, income and the chance to voice up at their family.
What is your projected impact over the next 1-3 years?
MG will expand to 16 MPAs and 4 National parks with high marine resources in Vietnam to 2018 and to 6 countries in Southeast Asia over the next ten years, bring job and income for at least 2.500 poor women who have no job and income now will earning $300 - $500.
What barriers might hinder the success of your project? How do you plan to overcome them?
To achieve the goal, an investment of USD 500 is required, which will primarily be used to (i) to carry out an overall survey to all MPAs in Vietnam and surrounding countries as well as a market survey to develop a set of MG Products that can highlight potential attraction of each MPA; (ii) to provide local women with vocational skill trainings to ensure they will provide good services (iii) to branding, invest to human resources, marketing and promotion and for working capital. The project will have an internal return on investment of 103%.
The founding team of MG is seeking like-minded outside investors to help reach the goals of this project. The ideal investor will be seeking the significant financial rewards offered by the project, along with the desire to make a positive impacts.
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Scale up Marine Gifts models to 5 more new Marine Protected Areas