There is definitely a need for something like this in the recruiting market, as there are many fake profiles on linkedin (I ran a recruiting thing for a while).
But most of the companies already run their own education & employment history checks, and at $40 its a tough sell to Job seekers, at the start, unless I really am guaranteed a job with the badge :).
A suggestion would be, to make it free for Job Seekers, interviewing them and making sure they are who they say they are and etc, and then you can try talking with companies to use this as a service and charge a referral fee.
