Updated: Dec 24, 2021
Part of the series #SuccessStories where our JET associates describe their work and challenges they had to overcome
We are excited to share our success story with Phoenix Space, a non-profit UK-based social start-up operating across the Middle East. Its goal is to provide Syrian refugees in their teenage years with access to STEM (Science, Technology, Engineering, and Mathematics) higher education in the Middle East and, therefore, better professional and educational opportunities. In January 2021, we started collaborating to support them with their journey towards their goal and helping them achieve their financial sustainability.
What we did
The project was divided into two parts, both supporting the strategic direction of Phoenix Space's fundraising efforts. On the one hand, the team researched fundraising opportunities and potential partners among young social start-ups or NGOs focused on education, refugees or STEM. On the other hand, the team supported developing Phoenix Space's financial records for internal and external purposes, such as related to investors or potential partners.
JET ESCP had to face the challenge of analysing different markets, mainly the Middle East and the United Kingdom. Filtered through a precise selection of criteria, the team analysed partners for establishing collaborations and understanding best practices. Besides, we identified potential funders operating in the Middle East and with disadvantaged students and STEM education. As a result, JET ESCP built a portfolio of key potential partner organisations, including the contacts of their main representatives.
Besides that, the team investigated core cost centre allocations, primary budgeting criteria and needs. As a result, we developed dynamic budgeting procedures to monitor Phoenix Space's finances.
It has been an exciting process to support Phoenix Space in its mission to bring a substantial social difference. Thanks to the client's trust, the team was able to be part of the organisation's core activities, report results to the executive board weekly, and receive feedback on the deliverables. We thank Phoenix Space for the fulfilling experience of leveraging our efforts to impact society positively.
Berenika Rozanska, COO of Phoenix Space, has said: "Collaborating with JET ESCP has brought a lot of value to Phoenix Space as an organisation. JET team has not only created a comprehensive database of potential partners but also created a dynamic, custom-made budget template that can serve both accounting and fundraising purposes. The efficiency, friendliness, and dedication of the JET ESCP team was exceptional. It has been a privilege to work with talented young people committed to making a difference."