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Growing the GrapeVine

Global conflict, climate change and economic uncertainty are testing the job market. As the International Labour Office (ILO) reports a lack of decent work, high global youth unemployment and increased layoffs in weakened economies, many may turn to entrepreneurship to supplement or replace their income source. But entrepreneurship comes with its own challenges. A single person investing countless hours and resources into any venture is a task that the founder of small and micro-enterprise (SME) support platform GrapeVine, Joel Joseph, says is a lonely journey. "They feel like they have to do everything and don’t feel like anybody understands. That’s something that became clear to us when we started talking to entrepreneurs about their pain points." Speaking to Business Day, Joseph said although grant programmes like Cariri’s Shaping the Future of Innovation Challenge Facility provide support, they do not present a magical solution to the strains of entrepreneurship and can present new challenges themselves. Through the programme, participants can receive up to US$75,000 in grant funding for an innovative business project. But despite being successful in the fourth call of the Cariri programme, Joseph recognised the time, energy and level of detail needed to pitch to the grant facilitators wouldn’t be feasible for most entrepreneurs. "You have to put aside a week. It is detailed and there’s a lot you have to do to fill that out. How many entrepreneurs have time for that?" He said that despite grants presenting potential financial growth for businesses, they do not address other key areas that SMEs face, such as the lack of collaborative support. The GrapeVine mindset To fill that gap, GrapeVine provides access to technology, expert support and a peer network, aiming to level the playing field so that any size of business has the data-driven tools to succeed. Under the memorandum of understanding (MoU) signed with Cariri in April, GrapeVine aims to provide SMEs with training in data literacy and analysis and develop a community-based data ecosystem. [caption id="attachment_1167036" align="alignnone" width="1024"] GrapeVine's AI tool GINA, likened to a GPS system, guides entrepreneurs through their plans, finances and business goals. -[/caption] With its collective impact structure, GrapeVine not only seeks to support but also transform the way entrepreneurs think about business. "The model that we’re shown for business is always dog-eat-dog. It’s about who can get on top of the other person. And that mentality can get you so far, but you’ll always be looking over your shoulder to see who is going to get your position. And that to me is not a healthy way to live. "In Curepe alone, there are so many doubles vendors. Do any of them care about competition? No. It just means that my doubles might take a little while to sell if my brand is not sauce, but it doesn’t mean I’m not going to get sales, because there’s enough to get. There are enough people demanding doubles. "Similarly, I feel that as entrepreneurs, there’s enough space and demand for our products if they are good." With 24 entrepreneurs in sectors like real estate, agro-processing, agriculture and health and wellness enrolled in the pilot programme, GrapeVine aims to create a space where entrepreneurs can connect to share ideas, find solutions and enhance their skillset. Through collaborative, mentor-guided sessions, participants are also encouraged to enhance skills like public speaking and brand presentation. "That is the kind of impact that I feel is missing from within the SME community…. We have programmes to build capacity, but what we’re not doing is building community, and that’s critical. "The grants serve a purpose and if we build strong communities then the grants and their entities will actually be better for it." Driving data forward Complementing its community framework, GrapeVine also uses AI to harness the power of data to help entrepreneurs make informed and strategic decisions. "It's understanding that this idea of using our gut and our instincts, that’s great for coming up with ideas, but beyond that, it should be backed by data, it has to be sensible." Joseph said in his discussions with entrepreneurs, many of them do not even know their annual income. "They don’t keep tabs on their finances, they don’t pay themselves." But the AI tool GINA (Grapevine Initiative Navigation Assistant), which Joseph likened to a GPS system, seeks to guide users through their plans, finances and business goals, as would a business advisor, guiding them through business development. Similarly, GINA guides them to their end goal. After making a profile with basic business information, the AI tool engages in a chat with the user to help them boil down long-term goals into a structured action plan spread across daily tasks. Based on daily progress, the tasks are adjusted to meet the user's needs and match their pace. [caption id="attachment_1167037" align="alignnone" width="1024"] A picture of the GINA interface, created by GrapeVine, showing its interaction with entrepreneur Vashti. -[/caption] This, Joseph said, allows for a data collection that's interactive and non-intrusive. "Data doesn’t have to be a scary thing; it doesn’t have to be a survey or extensive research. "Data can simply be me and you talking, and you give me feedback. That is data that I can take, process and base my decisions on it. "...The tasks (in GINA) are based on your constraints, whether you’re doing this full-time or part-time, how many hours in a week you can devote to it, if you’re working alone or with others and the size of your investment fund. "Very similar to Google Maps, when there’s traffic, it will show you an alternate route and guide you through it." With options for customisable dialect and communication style, GINA was designed specifically with Caribbean entrepreneurs in mind. Aside from the system's guidance, GINA also provides spaces for users matched by the system based on skillset to join groups. "Based on what your need is, you can ask the system to choose the top five people in the network who have complementary skills that can support you...We all understand that we're in this thing to support each other, no money's passed, however, you get valuable advice." Users can also seek advice from experts on the platform. "It’s about them discovering who they are as an entrepreneur, their product and who it appeals to, discovering the entities and who they need to work with." GINA also works in conjunction with a mobile app, which provides users with cash rewards, where businesses can gather customer feedback through QR code surveys, polls and in-person interactions. "We want people to understand the value of their data. Right now, we provide data to entities like Google and Facebook for free. "We want to change that model where you get paid for your data and you understand that there's value it to any business." With a background in market and social research, Joseph says he has seen firsthand how large companies use data to grow and hopes that the GrapeVine network can help SMEs throughout the region rethink how they can use the tool.   The post Growing the GrapeVine appeared first on Trinidad and Tobago Newsday.