Jellyfish


Jellyfish logo
3
contributions
2
facilitated workshop

About the project

Jellyfish is a user-friendly budgeting and expense-tracking tool that empowers program managers to take control of their project's financial milestones and make informed decisions based on real-time financial states. All this without the need to refer to their accountant every time.
With Jellyfish, project managers can save time on financial reporting, boost their organization's reputation, and secure more funds.
In 2015, $19.9bn in funding were requested to provide aid to 82.5M people suffering from conflicts and disasters according to UNOCHA’s report. That’s an average of $241 per person per year or $0.66 per day. Moreover, only 52.4% of this appeal got funded, which is $10.2bn in total, or $0.34 per person per day.

With an ever-growing need for assistance - 42% increase in people in need of aid since 20121 - humanitarian aid funds are unable to keep up with the demand, which results in two primary changes to the status quo:

Donors have to keep better track of donated funds which requires more regular reporting to improve transparency and accountability on the funded organizations’ side.

Nonprofits have to prove that they are making the best use out of received funds, which requires better management of their finances to make data-driven decisions that increase efficiency by reducing costs.

However, more than 60% of nonprofits face the following challenges:
Depending on part-time accountants for financial status updates.
Wasting valuable time collecting data and creating reports using Microsoft Excel instead of focusing on the core mission.
Over or under-spending because of lack of real-time updates for data-driven decisions.
Missing donor report deadlines and risking to lose additional funding opportunities

Consequently, donors are faced with:
Lack of visibility regarding their funds’ spend.
Difficulty tracking funds across multiple implementing partners.
Untimely reporting and inability to make informed strategic decisions.
Not being able to ensure the highest impact for their funds.
. Our approach consists of bridging the gap between theory and implementation by digitizing educational content and providing program managers with a tool, Jellyfish, so they are able to easily apply theory to become financially savvy, healthy, and more data-driven, with much less effort.

The two pillars of our holistic approach are the following:
Creating awareness and promoting capacity building:
Partner with consultants specialized in building the capacities of nonprofits.
Highlight, create, and promote relevant digital content.

Building and maintaining a self-sustainable tool for user-friendly budgeting, expense-tracking, and reporting:
Jellyfish is a user-friendly, web-based budgeting and expense tracking application. It allows program managers to speed up their data-collection process, automate real-time reporting, and make data-driven decisions to cut costs and increase impact.

By empowering program managers to effectively take control of their project finances, Jellyfish helps nonprofits become more efficient and transparent, thus ensuring that donors’ funds create the most impact.Our initial investment was from an NGO in Algeria that asked one of the co-founders for consultancy and a solution for their project managers.

Secondly, we got a 25 k investment from the altcity bootcamp and now we are expecting to be part of Speed Accelerator.

However, on the long run, Jellyfish will primarily be monetized using a SaaS subscription-based revenue model with a freemium and the 3 paid plans varying based on the number of users, projects, type of support, and other features.
Freemium: offers the service for one user working on one project within the organization. No additional features or support are covered.
The basic plan offers the service for nonprofits with team access to up to 5 users working on up to 5 projects at a time. For 30$/month, the team has access to standard support and some premium features.
The more advanced plan offers the service for nonprofits with up team access to up to 20 users working on corresponding number of projects. For 50$/month, the team has access to standard support and premium features.
The enterprise plan offers large organizations with unlimited access to projects, reports, support and features. The price would start around $100 and would increase with the amount of customizations, training, and dedicated support required.

On the medium term, more developed fee-based consulting and training will also be provided. On the long run, around 3 years from launch, the amount of available data will also allow for additional revenue generation from analytics and data sharing.
. We are 5 non full-timers. .
Cause
In 2015, $19.9bn in funding were requested to provide aid to 82.5M people suffering from conflicts and disasters according to UNOCHA’s report. That’s an average of $241 per person per year or $0.66 per day. Moreover, only 52.4% of this appeal got funded, which is $10.2bn in total, or $0.34 per person per day.

With an ever-growing need for assistance - 42% increase in people in need of aid since 20121 - humanitarian aid funds are unable to keep up with the demand, which results in two primary changes to the status quo:

Donors have to keep better track of donated funds which requires more regular reporting to improve transparency and accountability on the funded organizations’ side.

Nonprofits have to prove that they are making the best use out of received funds, which requires better management of their finances to make data-driven decisions that increase efficiency by reducing costs.

However, more than 60% of nonprofits face the following challenges:
Depending on part-time accountants for financial status updates.
Wasting valuable time collecting data and creating reports using Microsoft Excel instead of focusing on the core mission.
Over or under-spending because of lack of real-time updates for data-driven decisions.
Missing donor report deadlines and risking to lose additional funding opportunities

Consequently, donors are faced with:
Lack of visibility regarding their funds’ spend.
Difficulty tracking funds across multiple implementing partners.
Untimely reporting and inability to make informed strategic decisions.
Not being able to ensure the highest impact for their funds.

Our impact
Our approach consists of bridging the gap between theory and implementation by digitizing educational content and providing program managers with a tool, Jellyfish, so they are able to easily apply theory to become financially savvy, healthy, and more data-driven, with much less effort.

The two pillars of our holistic approach are the following:
Creating awareness and promoting capacity building:
Partner with consultants specialized in building the capacities of nonprofits.
Highlight, create, and promote relevant digital content.

Building and maintaining a self-sustainable tool for user-friendly budgeting, expense-tracking, and reporting:
Jellyfish is a user-friendly, web-based budgeting and expense tracking application. It allows program managers to speed up their data-collection process, automate real-time reporting, and make data-driven decisions to cut costs and increase impact.

By empowering program managers to effectively take control of their project finances, Jellyfish helps nonprofits become more efficient and transparent, thus ensuring that donors’ funds create the most impact.
Our sources of funding
Our initial investment was from an NGO in Algeria that asked one of the co-founders for consultancy and a solution for their project managers.

Secondly, we got a 25 k investment from the altcity bootcamp and now we are expecting to be part of Speed Accelerator.

However, on the long run, Jellyfish will primarily be monetized using a SaaS subscription-based revenue model with a freemium and the 3 paid plans varying based on the number of users, projects, type of support, and other features.
Freemium: offers the service for one user working on one project within the organization. No additional features or support are covered.
The basic plan offers the service for nonprofits with team access to up to 5 users working on up to 5 projects at a time. For 30$/month, the team has access to standard support and some premium features.
The more advanced plan offers the service for nonprofits with up team access to up to 20 users working on corresponding number of projects. For 50$/month, the team has access to standard support and premium features.
The enterprise plan offers large organizations with unlimited access to projects, reports, support and features. The price would start around $100 and would increase with the amount of customizations, training, and dedicated support required.

On the medium term, more developed fee-based consulting and training will also be provided. On the long run, around 3 years from launch, the amount of available data will also allow for additional revenue generation from analytics and data sharing.

Our resources
We are 5 non full-timers.