EMPOWERING CREATIVITY. CREATING OPPORTUNITY.
The art ecosystem for financial empowerment
Bana = Make
Gloo = "Igloo" inspired space
Welcome to BanaGloo, the startup that aims to revolutionize the way low-income individuals earn money through art.
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Inspired by igloos + the Hindi word “Bana” for make, each BanaGloo outlet is a physical dome: low-income individuals walk in to create handiwork for money. Gift shoppers take them home as meaningful purchases. BanaGloo's mission is to unleash creativity and entrepreneurial spirit in society.
Replacing the burden of financial assistance such as microcredit and loans, BanaGloo helps low-income individuals earn additional income through the ownership of craft and a recreational activity.
Low-income individuals in India desire but spend only 2% of their disposable income on leisure and recreation*
56.3 million low-income households seek relief from microlending*
Indian consumers demand more and more handmade items as market grows at 8% yearly*
National Statistical Office (NSO), NSS REPORT: “Time Use in India - 2019 (January - December 201)”, 2020. Bloomberg, “Big Money Backs Tiny Loans That Lead to Debt, Despair and Even Suicide”, 2023. Research & Ranking, “Indian Handicrafts -A Major Contributor To India’s Economy Through Exports”, 2023
BanaGloo's Impact
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Solves 98% urban shoppers’ feedback on lack of access to handiwork. 98 of 100 gift shoppers surveyed in 2023 stated not finding enough variety of handiwork for regular purchases or gifts*. At BanaGloo, we regularly update collections as customer create.
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Builds connectedness between shopper and artist. The BanaGloo experience enables shoppers to support a cause and peruse items made right-next-doors by people within their community.
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Offers creative and recreational space that encourages talent. BanaGloo insists on the importance of creativity and welcomes it into all of society. This helps low-income individuals hone talent and be recognized by their wealthier counterparts.
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Breaks reliance on microfinance by generating passive income between INR 2400 - INR 12,000+/month. Over time, BanaGloo aims to break reliance on microlending by providing an additional source of earnings to even those who visit just once a week.