Social entrepreneur Vipul Patel is poised to reshape the computer retail industry in the UK with his new commercial venture Spaice. Spaice will sell computing, office and stationery products (with small electrical and photography products later) that have been rated for their environmental, animal treatment, human rights, and corruption records. Patel has already secured partnerships with major non-profit organizations including Resurgence & Ecologist, Whale and Dolphin Conservation, Ethical Consumer, and the Green Party; Spaice expects to have an agreement with Amnesty International UK by launch. By leveraging these strategic partnerships, Spaice will be able to minimize marketing costs and gain market share relatively quickly.
Vipul has thoroughly researched the ethical market, valued at £47.2bn in 2012, and projects that it will continue to grow in coming decades. The current production model of one kg of manufactured goods requiring 8.5 kg of resources is already unsustainable and, with the commonly accepted population growth models predicting that 2.4 billion people will be added to the worlds current 7.2 billion by 2050. This will create an even greater burden on major ecosystems, leading to immense loss in biodiversity.
As more consumers become aware of these issues, ethical products that limit damage to the environment and are produced humanely will become more attractive. Spaice intends to carve out a leadership position in this emerging market by producing greater transparency of manufacturer practices and distribute at least 60 percent of profits to charitable and community groups.
Vipul Patel has already invested £100,000 in this enterprise, and is currently seeking £50,000 in additional funds. Investors will receive A-shares with full voting privileges, as well as potential tax relief for invested funds. The business strategy projects that the company will be able to re-purchase shares after three years. Vipul also plans to list Spaice on the Ethex ethical exchange.
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Company Name: Spaice
Contact Person: Vipul Patel
Phone: 07970 525 535
Country: United Kingdom