Innovation

A summary of Vayando's business innovation:

• Tourists select from a variety of countries where they wish to visit.
• In the selected country, tourists can learn about and arrange to meet a local entrepreneur.
• When the tourist arrives, they meet the entrepreneur at a central location. The entrepreneur provides an introduction to their community and business for the day.
• Connects the entrepreneur to an interested audience and allows the tourist to learn about a community, local people, and their livelihoods.

Inspiration

Jason's partner Scott was at a rural village in El Salvador and there was a volcano that erupted and the whole village had to be evacuated. Following the eruption, Scott would hike back every day to the village to help the villagers rebuild their village. Tourists visiting also offered to help rebuild it, so the idea emerged of getting tourists to learn the local culture and to allow the local entrepreneurs to share their skills. Thus creating an extra source of income for locals and an enriching and unique learning experience for tourists.

Based in El Salvador while in the Peace Corp, Jason met a lot of local entrepreneurs with unique skills and great work ethic but few marketing opportunities. Jason turned to many of these farmers and shopkeepers to lead technical workshops when new Peace Corps trainee groups would visit the village where he was based.

Overall impact

Vayando's impact includes:

• Helping the local entrepreneurs make more profit
• Allowing people from all over the world to connect with them
• Exposing tourists to the local culture in ways that they wouldn’t be able to if they just went sightseeing

Besides the monetary, benefit Vayando promotes a country’s culture to other people, allowing local entrepreneurs to express and teach tourists something that isn’t evident by just walking the city. Another benefit to the entrepreneurs is the pleasure and pride felt when sharing their work and culture, often with their children standing near.

Business benefit

Vayando promotes entrepreneurs motivated to share their livelihood practice, local trade, or micro-businesses with travelers.

Vayandos's goal: Create economic opportunity for entrepreneurs while facilitating immersive experiences for travelers.

Vayando charges a 25% margin on top of whatever the entrepreneur is charging. That is determined when Vayando onboards a new entrepreneur. Co-founders Jason and Scott feel strongly about making sure that entrepreneurs see their own value so they make it a priority to ensure the entrepreneurs ask a fair price. Jason said that nine out of ten times the entrepreneurs undercharge when first approached.

Social and environmental benefit

Vayando's social benefits include:

1. Increased working capital at the entrepreneur level through bookings
2. Increased access to new markets for entrepreneurs and associated producer groups. With two to three bookings per month, many entrepreneurs on Vayando's platform can double their monthly income. Financial impacts are increased by entrepreneurs gaining exposure to new markets and better access to additional financing mechanisms.

Interview

Jason Seagle, Co-Founder