Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - TalentMondo (Connecting families with optimal homecare providers through a real-time machine learning matching platform.)

Teaser

\"We discovered that despite the global homecare market being valued at $256 billion, solutions for finding care remain poorly adapted to the families and homecare provider’s needs. More than 99% of this market is currently unorganized and mainly based on \"\"word of mouth\"\"...

Summary

\"We discovered that despite the global homecare market being valued at $256 billion, solutions for finding care remain poorly adapted to the families and homecare provider’s needs. More than 99% of this market is currently unorganized and mainly based on \"\"word of mouth\"\" recommendations. Many people in need of care struggle to find homecare providers, while many homecare providers struggle to find work.
Both families and businesses suffer by the many who can\'t find a homecare provider and have to sacrifice their time to care for their loved ones. In the US, there are 10 million people aged 50+ who are caring for their parents or children. They lose an estimated $3 trillion in wages, pensions, and other benefits. Women suffer more, as they are more likely than men to make alternate work arrangements such as; taking a less demanding job, giving up work entirely, and losing job-related benefits.
To respond to these problems, we set out our mission to build the world\'s first skill-based marketplace platform for families and homecare providers, TalentMondo. This would make the traditional and lengthy matching process near instant and would provide both families and homecare providers with optimal, real-time matched results, that adapt to the ever-changing demands of the homecare market. Through this it would economically empower both families and homecare providers.\"

Work performed

We first conducted user interviews with families and homecare providers throughout Europe to understand if problems we identified in Turkey for both groups are the same in Europe. These interviews confirmed that problems are similar. Therefore, we studied the user and regulatory requirements a family and homecare provider matching platform would have to satisfy to be an effective solution and achieve widespread adoption. We identified 3 persona types based on the interviews. We created user journey to understand their feelings much better. From this identified five product features that would be vital to develop into an MVP and another feature that would be left as a further development. We also devised a user flow chart for how we will interact with our customer bases. From this we devised a product development plan for the MVP.
We also studied the European eldercare and childminders markets including their size, customers available, trends affecting them, competitors on the market and barriers we faced. We identified that the best markets for us to target first after Turkey.

Final results

We offer families higher quality care at a lower cost than any direct or indirect competitors. This is because TalentMondo knows the families’ individual needs and intelligently matches these with an appropriate homecare provider.

Website & more info

More info: https://www.talentmondo.com/.