FOB Academy #team-c25-fobacademy

Financial "onboarding" training (online/offline) to acquire applied financial skills, techniques and knowledge in an engaging way.

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FOB Academy PowerPoint Presentation

https://mobi.foneca.net/s/xDpf7ZH9AdNX2R3?

Inspiration - The problem our project solves

The uncertainty of the next day, the worry of the virus impact on our health and future the creates additional burden and stress on us. So, can we do at least some small steps to release it? We truly believe we can make an impact. We can help people beat the uncertainty and therefore release the stress by educating them. Education in financial planning can help them live happier lives by understanding their financial situation and taking steps to control the financial insecurity.

What it does - The solution we bring to the table

We provide Personal finance and financial planning (online/offline) courses to dive into the issue of handling money, to provide tools and knowledge for controlling it, and plans for securing the financial resources they need in order to execute their dreams.

We offer a variety of courses such as "Starting your own business", "Developing your working business" and "Personal Finance".

How we built it - What we have done during the weekend

Our team was formed 18 months ago when we recognized the need for helping the businesses with their strategic decisions. Everything started with a simple idea: "Help the businesses grow and succeed". We performed online and in-person entrepreneurship education seminars and naturally came to understand that many people lack the financial knowledge needed for managing their resources. With experts from the United States who lead the classes there we tested the ground in Varna.

During the weekend, we focus on Moodle and built the content, defined the target group, did the survey, and realized that they don’t have financial resources to spend as the virus put them into “saving mode” and the only expenses they think of now are food and health.

The solution’s impact to the crisis

So, we pivot and look at the B2B, we realized that helping the people to understand the financial situation and have a plan on how to approach it makes them less worried, more happy and productive in their work. That is what the company wants and do pay for it in the US.

We believe in the impact we create as:

  • Making employees more efficient
  • Reduce the stress improving users’ financial literacy, finance culture and knowledge
  • Helping the people understand the need of managing their money
  • Reducing the Financial burden on them
  • Providing future financial security by explaining, teaching and exercise
  • Tools for planning one's financial future
  • Helping users to fulfilling their dreams by setting financial goals and follows them with the financial plan

Challenges we ran into - The necessities in order to continue the project

As we plan on applied financial education, we will have online classes and in-person weekly meetings with a mentor, so we need the right mentors. Of course, we need to create, validate, and constantly improving the content. We may need to create an app and web-based tools to support our training, so investment for the above-mentioned activities is also a necessity.

The value of our solution after the crisis

The plan is to offer our education to companies and benefit their employees. The expected result – to have more efficient employees that will make the industry leaders more competitive and create more opportunities for employment. With this they will need new employees, so increase the employment and help the economy to recover and grow. FOB Academy will help companies reassure employees that they're not alone in this economic uncertainty, by offering them a great package of personal financial training that could reduce their stress levels and bring positive vibes and energy.

Accomplishments that we're proud of

Seeing start-ups growing into working businesses with our help is definitely the accomplishments we are most proud of.

What we learned

Every person has their strength. We learned that all we need to do is point him at the right direction and he can be successful. No doubt this hackathon will place an important role of Europe’s future and we are proud to be a part of it. We received valuable advice, managed to start contacts that will benefit our mission, and most importantly, we pivot our business to address the B2B model where we believe is more appropriate and provides a unique value proposition.

What's next for FOB Academy

Finalize the website, get the mentors in place, and start our trail training with banks that found this business approach very appealing. We aim to start our impact on a national level, and then focus on Europe one country at a time. In the near future, we want to diversify our business model and introduce an additional line of services, money management and advisory business as a recurring revenue stream.

The URL to the prototype [Github, Website] education.foundationbec.org
user: test pass: Testtest1@

fobacademy.com

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