Ecomodo

Ecomodo is a social enterprise and driving social and environmental change is at the core of what we do. Our aim is to create a hyperlocal economy by building a peer-to-peer market around shared resource for the benefit of our citizens, neighbourhoods, community groups, organisations, charities and the environment. Way back in 2007, we had the spark of an idea and a gut-feeling that order to succeed we needed to combat two main things. How to motivate people and overcome inertia? Using a design centred approach, we researched different types of alternative currencies, from points systems to LETS scheme, bartering to Timebanking, and found a three-pronged solution (free, fee or charity) had the potential for the widest reach to drive motivation within diverse communities. We also found to help people to feel more confident about lending and borrowing we needed to put in place some assurances. We set about to find an insurance partner, understand the legal side of things and work out what mechanisms we could put in place to help build trust. With a little financial backing, some great of people on board to help with the build and a lot of luck and hard work - we launched at the end of March 2010.