One-line solution summary:
We save b2b buyers valuable time in purchasing products from suppliers worldwide at the most competitive prices from months to few days.
Pitch your solution.
We are committed to solving the problems for buyers and suppliers worldwide to do more deals. Increasing sales and exports increases employment, foreign currency reserves, FDIs (Foreign Direct Investments), and reduces the poverty level.
Our b2b platform provides a solution for buyers to purchase products from suppliers everywhere at the most competitive prices while saving them time in doing so. Buyers need to be able to view products from suppliers everywhere aggregated into one central platform for buyers to view, compare, negotiate and purchase products at the most competitive prices. That is exactly what our decentralized B2B platform does.
When buyers buy, suppliers sell.
A $1 billion dollar increase in exports adds 6000 jobs in the USA (Office of US Trade Representatives), and that same amount adds 47,000 jobs in Jordan (UN Study on the apparel industry in Jordan). On average, $1 billion in exports adds 26,500 jobs worldwide.
Film your elevator pitch.
What specific problem are you solving?
Buyers go through many steps and experience many pains to reach the point of purchase (POP). Before the (POP), buyers have to contact suppliers worldwide, receive information, compare offers, select a few suppliers to negotiate deals with, start the negotiation process, and agree to purchase from a specific supplier. This process, if successful, takes months and sometimes years.
Our platform is designed for buyers to shorten the buying cycle from months to few days.
There are approximately 400 million SMEs worldwide. They account for 60%-70% of employment.
In 2019, world trade reached 19 trillion US dollars. World trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world.
According to the European Commission Study, the EU accounts for 15% of world trade and supports over 36 million jobs across the EU.
$1 billion in international trade adds, on average, 26,500 jobs. Using this average, the $19 trillion in international trade affects over 500 million jobs worldwide.
Due to the Covid-19 pandemic, no trade shows, and no travel. However, the main problems remain: aligning buyers' and suppliers' journeys for deals to happen.
What is your solution?
While every country through different organizations tries to promote its own products to increase exports, buyers need to find products from suppliers in all countries aggregated into one central platform to enable them to view, compare, negotiate trade deals, and purchase products at the most competitive prices.
That is exactly what we do. We solve buyers' problems in finding products to purchase from suppliers worldwide. We work with local representatives in cities worldwide who present the platform as a solution for local suppliers to increase sales and exports. Local suppliers join as members and add their products on the platform for buyers everywhere to view. Buyers view all products from all suppliers in all countries side-by-side, compare, and decide on which products they want to make offers on. Buyers initiate the making of offers on listed products using our proprietary negotiation function that simulates the face-to-face negotiations online by using just numbers to negotiate deals. Suppliers counter or accept offers. Offers and counteroffers continue until both parties agree to the deal. After deals are made, we provide our members with the supporting services to complete deals.
We align buyers' and suppliers' journeys to make deals happen and increase trade.
Who does your solution serve, and in what ways will the solution impact their lives?
Our target customers are SMEs of raw material suppliers, manufacturers, service providers, and wholesale traders. They all need to increase sales at the local, regional, and global levels.
There are buyers everywhere for all kinds of products as well as suppliers. The problem is in aligning buyers’ and suppliers’ journeys for deals to happen.
By fulfilling buyers’ needs to purchase products at the most competitive prices from suppliers everywhere, we fulfill suppliers’ needs as well. Because when buyers buy, suppliers sell.
Suppliers need to find new buyers, open new markets, market-test existing products in new markets, market-test new products in all markets, fine-tune their global marketing and sales strategies, increase sales and exports, and expand into new markets at minimal cost and risk.
According to Devrix, 45% of businesses worldwide are not involved in the global digital economy. With our solution incorporating local representatives in cities worldwide, we are well-positioned to increase the participation of local businesses in the global digital economy.
The more businesses get involved in the global digital economy, the more products are available on the website for buyers to have more choices of products to purchase, and thus more sales. More sales translate into more employees worldwide.
Which dimension of the Challenge does your solution most closely address?
Scale safe and private digital identity and financial tools to allow people and small businesses to thrive in the digital economy.Explain how the problem you are addressing, the solution you have designed, and the population you are serving align with the Challenge.
All countries try their best to increase exports without much success. Simply put, no country promotes products of another country to fulfill the needs of buyers. We do.
Our solution is designed for the inclusion of all countries, all companies, and all products to fulfill the needs of buyers to purchase products from suppliers everywhere at competitive prices.
Our representatives have the ability to communicate in English as well as the local language to include all businesses in all countries in the global digital economy.
We are a purpose-driven company: we increase employment by increasing sales and exports.
In what city, town, or region is your solution team headquartered?
Amman, JordanWhat is your solution’s stage of development?
Growth: An organization with an established product, service, or business model rolled out in one or, ideally, several communities, which is poised for further growth.Explain why you selected this stage of development for your solution.
1Point Commerce is a new, decentralized b2b business model and works with local representatives in cities worldwide. Representatives have the ability to communicate in English as well as the local language to include as many businesses into the global digital economy. The appointing and training of representatives is an ongoing process. So far, we have representatives in Panama; Valencia, Spain; Bogora, Bangladesh; Dublin, Ireland; New Jersey, USA; Maryland, USA; Wakefield, UK; Delhi, India; Amman, Jordan; Abu Dhabi, UAE; and Dubai, UAE.
Our target is to have 50 representatives by December 2021. We believe that achieving a presence in 50 cities is adequate to show what the platform can do in elevating local communities into another dimension of prosperity through trade.
So far, more than 5400 companies have joined and tested the platform. Our goal is to have 1 million companies within 3 yrs., and 10 million companies in 10 yrs.
Who is the Team Lead for your solution?
Faeq Tadros, Founder & CEO
If you have additional video content that explains your solution, provide a YouTube or Vimeo link here:
Which of the following categories best describes your solution?
A new business model or process that relies on technology to be successfulWhat makes your solution innovative?
1Point Commerce is the only b2b platform that Uberizes global commerce. Before Uber, riders were there and taxis were there. Uber aligned riders' and Taxi drivers' journeys through an app that the rider used to inform the taxi driver where he/she is and where he/she needs to go. The taxi driver now knows where the rider is and went to get him/her. A ride was made and the taxi driver got paid.
Similar to Uber, our buyers initiate the buying process by making offers to suppliers. Suppliers now are in a position to know which country the offer came from, and how much each buyer is willing to pay for suppliers' products. When buyers and suppliers accept offers, deals happen.
Using the same concept, we provide vehicles for our representatives to use. After training, representatives' passengers are the local SMEs who want to use the vehicle to show and sell their products to buyers worldwide.
Although the fees are published on the website, the driver/representative has the freedom to choose the best strategy and price to get the maximum number of local passengers to ride the vehicle to sell their products. For this service, passengers pay fees to the company directly, or to the driver in local currency. We share our fees with our drivers/representatives.
This concept of inclusivity of all countries and products is a game-changer. It makes global commerce local, and local companies global to buy, sell, and grow to limits never achieved before.
Please select the technologies currently used in your solution:
Select the key characteristics of your target population.
Which of the UN Sustainable Development Goals does your solution address?
In which countries will you be operating within the next year?
In which countries do you currently operate?
How many people does your solution currently serve? How many will it serve in one year? In five years?
We are a purpose-driven company: we increase employment by increasing sales and exports.
This is a business-to-business platform designed to increase sales and exports. Increasing sales increase employment and elevate local communities into another dimension of prosperity.
Currently, we have over 5400 SMEs registered on the platform.
SMEs employ between 10-49 employees. Considering that each company employs 25 people, then this indirectly affects 135,000 people.
Our aim is to have 100,000 companies as members in 2022, 3 million companies in 5 years.
In 2022, this will affect 2.5 million people and 75 million people in 5 years.
However, our aim is to increase international trade to levels never achieved before. The gap between international trade and global trade is huge. International trade is at $19 trillion, and global trade is $192 trillion.
With our platform, international trade doubles in 5 to 10 years. Then the real effect on the lives of many will be felt worldwide. An increase of $20 trillion in trade affects 530 million people.
Countries could not do it, and international organizations could not do it.
We did.
How are you measuring your progress toward your impact goals?
At this stage, we are appointing representatives in cities around the world. Each representative needs training and time to understand the full potential of the platform.
We work with each of our representatives to customize presentations to the local Ministry of Industry, Chambers of Commerce and Industry, and other associations.
Our success is measured by the number of actively involved representatives who can and do the necessary work to have the Ministry of Economy and Industry and Chambers of Industry collaborate endorse the platform as the solution for local SMEs to increase sales and exports.
Each representative acquires members of local businesses. The local members are automatically assigned to the local representative. We measure the progress of each representative by the numbers of companies that joined in the representative's locality.
Representatives fine-tune their local marketing and pricing strategy and get approval from the HQ to implement the new strategy to acquire more local members.
The more collaborations we have with the ministry and the chambers of industry, the more chance we have in those organizations endorsing our solution to the local business community, and the more members we acquire.
What type of organization is your solution team?
For-profit, including B-Corp or similar models
How many people work on your solution team?
In the IT department, we have 3 full-timers. One IT architecture and backend development, one front-end developer, and 1 designer.
Representatives are considered independent contractors. We have 10 active ones, and 29 under training. These numbers change as we appoint new representatives.
How long have you been working on your solution?
22 years.
How are you and your team well-positioned to deliver this solution?
I was born to be a buyer, I have been a trader since I was 10 years old growing up in Amman, Jordan. I loved buying and selling! I was helping my father in his shop, selling wheat, sugar, tea, barley, beans, corn, chicken feed, animal feed in downtown Amman, where all suppliers were stationed. I grew up hearing the buying and selling problems that neighboring shops faced. We were importers of products from Japan, Lebanon, Morocco, Iraq, and Pakistan. We had quarries to supply the municipality with aggregates for paving the streets of Amman. I used to go to the post office 3 times a day to wait for letters from Japan, as one of my cousins was in Japan sourcing artificial leather for our shop and mailing us feedback regarding the artificial leather manufacturers in Japan. We also used to supply local shoe manufacturers with leather manufactured in Jordan. We imported canvas from Pakistan to make tents and export them to Kuwait.
I was exposed to the world of International trade as a child in my father's shop. When I began to look for building materials for my real estate projects, that is when I was confronted with a whirlwind of problems that buyers are facing every day, from language barriers and communication to security and inspection.
Although trading has gone digital through online trading platforms, the problems I faced as a 10-year-old child as well as in my real estate development remain to this day!
What is your approach to building a diverse, equitable, and inclusive leadership team?
The platform is designed for the inclusivity of all countries, all companies, and all products.
We do not exclude any country.
As representatives are independent contractors and their pay is performance-based, the main criteria we have for representatives is their willingness to work towards elevating their local communities into another dimension of prosperity through trade.
The other criteria are the ability of representatives to communicate in English as well as the local language to minimize language barriers between buyers and suppliers who do not speak English or share the same language. Representatives step in to assist buyers and suppliers in closing deals.
Do you primarily provide products or services directly to individuals, to other organizations, or to the government?
Organizations (B2B)Why are you applying to Solve?
If this project is selected, any help and assistance in assisting companies, especially in the least developed and developing countries to get them involved in the global digital economy are appreciated and welcomed.
In which of the following areas do you most need partners or support?
Please explain in more detail here.
Any additional help in the selected areas above will really improve the platform to make it the best b2b platform, and add more value to our members. Value in increased sales and prosperity to local communities.
What organizations would you like to partner with, and how would you like to partner with them?
We are open to partner with any organization that wants to elevate the world into another dimension of prosperity through trade.
Do you qualify for and would you like to be considered for The ASA Prize for Equitable Education? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
No, I do not wish to be considered for this prize, even if the prize funder is specifically interested in my solution
Do you qualify for and would you like to be considered for The Andan Prize for Innovation in Refugee Inclusion? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
No, I do not wish to be considered for this prize, even if the prize funder is specifically interested in my solution
Do you qualify for and would you like to be considered for The HP Prize for Advancing Digital Equity? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
Yes, I wish to apply for this prize
Explain how you are qualified for this prize. How will your team use The HP Prize for Advancing Digital Equity to advance your solution?
In the least developed countries, having a computer and an internet connection is a luxury that small businesses cannot afford. If we can give small communities few computers to get them involved in the global digital economy, that would be great.
With the help of our representatives, our representatives can really make a difference in places that are not digitally connected. Our representatives take the responsibility of listing products produced by those communities and when sales happen, the representative takes care in completing deals and gives the communities their share of the proceeds.
Do you qualify for and would you like to be considered for the Innovation for Women Prize? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
Yes, I wish to apply for this prize
Explain how you are qualified for this prize. How will your team use the Innovation for Women Prize to advance your solution?
I try very hard to have qualified women join us as representatives in their cities/communities. Women nurture businesses and care about elevating their communities into prosperity.
Do you qualify for and would you like to be considered for The AI for Humanity Prize? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
Yes, I wish to apply for this prize
Explain how you are qualified for this prize. How will your team use The AI for Humanity Prize to advance your solution?
My development team is implementing AI and Machine learning into the platform. Any extra help is appreciated.
Do you qualify for and would you like to be considered for The GSR Prize? If you select Yes, explain how you are qualified for the prize in the additional question that appears.
Yes, I wish to apply for this prize
Explain how you are qualified for this prize. How will your team use The GSR Prize Prize to advance your solution?
All listed products use the US dollar for the pricing of products.It will be nice to add a digital currency as well. Digital currencies are here to stay and the more businesses use digital currency, the better.
We also charge for memberships in US dollars. In some countries, it is easier to use digital currencies to pay for membership fees than to purchase US dollars for overseas payments. Some countries have regulations limiting the use of US dollars or any other foreign currency.
In the future, we plan to incorporate digital currencies to pay for products and ship those products to buyers immediately.
There are huge potentials for digital currency in the b2b world. It is time to start.
Solution Team
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Mr. Faeq Tadros CEO, 1Point Commerce
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Solution Name:
1Point Commerce