The Good Capital Fund 2018
Alternate Title: Pushing for Profit Sharing When You’re Not Profitable?
When we started Diaspora Co., we always knew that profit sharing with our partner farmers was going to be a given. But it’s been 18 months, and we’re not profitable…
Are we on our way towards profitability? Absolutely. We’re doing this the hard and honest way, and we’re committed to that process, even if it takes much longer than we’d like.
But does it suck to not be able to support our partner farmers towards the capital and resources they need to continue to grow, especially in a system that has historically disadvantaged them? Absolutely.
So we’ve come up with the Good Capital Fund. Going forward, 20% of all revenue from our limited edition products will go towards this fund that will benefit a farmer led project.
This year, that means that 20% of revenue from our 200g tins will go towards helping our partner farm in Vijayawada, Andhra Pradesh begin the process of building their own turmeric mill. We crunched the numbers and that’s $5 out of every $25 tin purchase and $6 out of every market bag purchase going directly towards a future turmeric milling facility for our partner farm.
Currently, Prabhu drives his personal car stacked full of whole turmeric over an hour away, making several trips to transport the turmeric harvest to the nearest mill. Once he gets there, where other farmers would just rent the mill by the hour, Prabhu has to rent the mill for 2+ days to clean the mill to prevent any contamination and then mill his product. On the drive between his farm and the mill, if he rents a bigger truck, he’ll usually get pulled over by police and government officials asking for bribes or “a cut” in order to let him continue. The ferrying back and forth in his personal car was a way to avoid these checkpoints is time consuming and hugely inefficient.
So for 2018, the Good Capital Fund will help Prabhu and his farm start the process of building their own turmeric mill. Happy holidays, Diaspora Co. style.