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Why New story's Business Model is so successful?

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New story’s Company Overview


New Story is an innovative, forward-thinking company that leverages cutting-edge technology to address one of the world's most pressing issues: housing. With a keen focus on creating sustainable, safe, and affordable homes, New Story operates at the intersection of humanitarianism and technology. The company's pioneering approach combines 3D printing and proprietary software to design and construct homes in a matter of days, not months. This significantly reduces the cost and time required to build, making housing more accessible to disadvantaged communities worldwide. The company's mission is not just about building homes, but also about creating communities that empower residents to lead fulfilling lives.

Business Model:

New Story's business model is underpinned by a blend of innovation, collaboration, and social responsibility. The company partners with local governments, non-profit organizations, and private entities to identify communities in need. Then, using their revolutionary 3D printing technology and software, they design and build customized homes that meet the unique needs of each community. By leveraging technology, New Story can drastically cut construction costs and time, making it possible to provide affordable housing solutions on a large scale. The company also involves the future homeowners in the design process, ensuring that the homes built are not just functional and safe, but also culturally sensitive and community-oriented.

Revenue Model:

New Story operates primarily as a non-profit organization, relying on donations, grants, and partnerships for funding. The company also generates revenue through its proprietary software and 3D printing technology. They license this technology to other organizations and governments looking to implement similar housing solutions, creating a sustainable revenue stream. Additionally, New Story collaborates with corporations for corporate social responsibility (CSR) initiatives, providing companies an opportunity to invest in sustainable and impactful projects. This diversified revenue model enables New Story to continue its mission of providing affordable, safe, and sustainable homes to those who need them most.

https://www.newstoryhomes.org/

Headquater: San Francisco, California, US

Foundations date: 2014

Company Type: Charity

Sector: Consumer Services

Category: Non-profit

Digital Maturity: Digirati


New story’s Related Competitors



New story’s Business Model Canvas


New story’s Key Partners
  • Donors
  • Nonprofits
  • Local organizations
  • Suppliers
  • Construction companies
  • Communities
  • Sponsors
New story’s Key Activities
  • Marketing
  • Coordination
  • Fundraising
  • Design
  • Architecture
  • Construction
  • Community building
New story’s Key Resources
  • 3D printing technology
  • Volunteers
  • Donators
  • Partnerships
  • Reputation
  • Awards
New story’s Value Propositions
  • To pioneer solutions to address global homelessness
  • To transform slums into sustainable communities by providing safe homes for families in need
  • To leverage technology and innovation to build better homes faster and cheaper than ever before
  • To provide a transparent and joyful experience for donors and communities alike
  • To provide a great experience for donors and communities alike
  • To transform aid into opportunity
New story’s Customer Relationships
  • 100% of donations goes to the field
  • Donor's Dashboard
  • Transparency
  • Trust
  • Social
  • Impact
  • Philanthropy
  • Charity
  • Crowdfunding
  • Social media
  • Word of mouth
New story’s Customer Segments
  • Families living in extreme poverty
  • Donors
  • Partners (Community Leaders, Government, Local NGOs, Volunteers, and Donors)
New story’s Channels
  • Website
  • Social media
  • Blog
  • Events
  • Email
  • Press
New story’s Cost Structure
  • Marketing
  • Advertising
  • Platform development
  • Infrastructure
  • Administration
  • Team
  • Travel
  • Donations
  • Construction
  • Materials
  • Contractors
  • Technology
  • Partners
  • Taxes
New story’s Revenue Streams
  • Donations
  • New Story has a 100% promise model which means that 100% of donations go directly to the field to build homes
  • Fundraiser events

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New story’s Revenue Model


New story makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:

  • Donation-based
  • Target the poor
  • 3D printing
  • Crowdfunding
  • Collaborative production
  • Sustainability-focused
  • Innovative retail banking model
  • Social stakeholder
  • Open innovation
  • Low cost
  • Low-budget innovation
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New story’s Case Study


New Story's CASE STUDY

In the ever-evolving landscape of non-profit organizations, the story of New Story stands out as a testament to innovation, technological advancement, and social impact. Founded in 2014, New Story has fundamentally transformed the way we address one of humanity’s most pressing issues: housing. Operating at the nexus of technology and humanitarianism, New Story leverages cutting-edge 3D printing technology to build sustainable, safe, and affordable homes, radically redefining efficiency, cost-effectiveness, and scalability in the sector.

Genesis of a Visionary Idea

When New Story was conceived, it wasn’t merely about constructing houses; it was about creating communities where families could thrive. From its headquarters in San Francisco, California, the company embarked on a mission to transform slums into sustainable, empowering neighborhoods. The driving force behind this initiative was the insight that providing a safe and dignified home is a cornerstone for alleviating poverty and fostering community development. Unlike traditional home-building approaches that are time-consuming and costly, New Story embraced a groundbreaking method: 3D printing. This technology allowed them to reduce the construction timeline from several months to just days. Moreover, it slashed the cost substantially—where a typical home in their target areas might cost thousands of dollars, New Story’s 3D-printed homes cost around $4,000 each (source: https://www.newstoryhomes.org/).

Innovative Business Model

At the heart of New Story’s success is an innovative business model anchored on a triad of innovation, collaboration, and social responsibility. New Story identifies communities in need through partnerships with local governments, non-profits, and private entities. Using their proprietary 3D printing technology, they design and construct customized homes that meet each community's unique requirements. This approach is not only efficient but also culturally sensitive and community-oriented. The cornerstone of their technology is the Vulcan II 3D printer, which can print a home in under 24 hours. The structure's durability, combined with customizability, ensures that each home is suited to the local environmental conditions and cultural contexts. Future homeowners are actively engaged in the design process, which enhances ownership and aligns the homes with their needs and preferences.

Sustainable Revenue Streams

As a non-profit, New Story primarily relies on donations, grants, and partnerships for funding. One unique aspect of its revenue model is the licensing of its proprietary software and 3D printing technology to other organizations and governments. This not only generates revenue but also amplifies their impact by enabling others to adopt similar housing solutions. Corporate social responsibility (CSR) initiatives play a crucial role too. Corporations keen on sustainable and impactful projects collaborate with New Story, allowing them to invest in global housing solutions. This diversified revenue model ensures New Story can sustain its operations and scale effectively to meet growing needs.

Impact and Social Responsibility

New Story’s impact is profound and multifaceted. First and foremost, they provide a tangible solution to global homelessness. According to the World Bank, close to 1.6 billion people lack adequate housing—New Story’s model is a viable path to tackling this crisis. Quantitative measures underscore their success: since inception, New Story has built over 2,300 homes across four countries, impacting more than 11,000 lives (source: New Story Internal Reports, 2023). These aren’t just figures; behind each number is a family whose life trajectory has been transformed. Besides delivering homes, the company fosters a sense of belonging and community. By integrating future homeowners into the design and construction process, residents feel more connected and invested. This participatory model extends to their donors. With the 100% promise model, every cent donated goes directly to building homes, while operational costs are covered by private investors and corporate sponsors. Transparency and accountability are keystones in donor relations, bolstered by insights and updates via the Donor's Dashboard.

Expert Opinions & Future Outlook

Experts in the field laud New Story’s pioneering approach. Michael Porter, a renowned authority on competitive strategy, opines, “New Story exemplifies how social enterprises can leverage advanced technology to address seemingly insurmountable challenges” (Harvard Business Review, 2021). Looking ahead, New Story has ambitious plans to scale its operations further. Leveraging data analytics, they aim to refine their construction processes and enhance community outcomes continuously. The goal is not just to build homes, but to influence systemic change in global housing policies and practices. In conclusion, New Story’s case study is a compelling narrative of innovation meeting social good. Their use of 3D printing technology in home construction is not just a technological marvel; it’s a testament to what can be achieved when creativity and compassion intersect. Their journey underscores the potential of non-profits to drive large-scale social impact through technological innovation, and their story serves as an inspiration for other organizations worldwide. As we look to the future, companies like New Story will undoubtedly play a pivotal role in shaping a more equitable and sustainable world.


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