Entrepreneurship As A Collaleral To Access To Microfinance Among The POOREST and DISABLED In Kenya
The innovation leverages the power of entrepreneurship education,access to microfinance & mentorship to transform the lives of the poorest and disabled in Kenya
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Nome da Organização
The People To People Foundation
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País da organização
Quênia, EA, Embu
Países onde este projeto vem gerando impacto social
Quênia, EA, EMBu
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Há quanto tempo sua organização está em operação?
Entre 1 e 5 anos
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DELL SOCIAL INNOVATION
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Ideia (você está para lançar)
Há quanto tempo está em funcionamento?
Ainda na fase de ideia, mas você deseja lançá-lo em breve
Qual(is) item(ns) abaixo descreve(m) melhor a(s) barreira(s) que sua inovação soluciona? Escolha até dois itens.
A necessidade: Qual é o problema que você está tentando resolver?
The problem the innovation is trying to address is a lack of access to financial service from banks and micro finance institutes specifically among the POOREST and DISABLED in Kenya. It's been widely noticed banks and micro finance institutes do not lend to persons who have not yet started an economic activity. This is one of the major bottlenecks to get access to loans among the poorest and disabled who dream to start businesses. The majority of them have no prior business experience which therefore make them ineligible to access to micro fiance from banks and micro-finance institutes. When this happens, the poorest and the disabled remain with no source/means of income as a result it activates cycle of poverty in the community.
A Solução: Qual é a sua solução? Seja específico!
The innovation fills this preparation and sustainability gap in current services by collaborating with its partners such as school of business, banks and micro finance institutes to train the poorest and disabled in economic activity/entrepreneurship, provide them with financial support, and mentor them-either individually or in groups to develop themselves in self-employment activities and support them to be sustainably "self-provisioning and "self-reliant."
O Modelo: Demonstre através de um exemplo específico como sua solução faz a diferença; inclua suas atividades primárias
-Prepare training curricular with School of business
-Selection of 400 people by conducting a random selection through a lottery to promote fairness and transparency to participate in program.
-Walk the selected trainees through the established preconditions: 1. to attend the training to completion and come up with a business idea either individually or in group capable of offering a service or a product to the market and as well as develop a comprehensive business plan/framework with a mentor in order to be eligible for financial support from the project/our partners, 2. To set up a business at the end of the training(and if they do not set up the business, they have to refund grant for the course).
-With our partners, train the selected participants in financial literacy, business plans, management, marketing, product and service development, customer service and social networking.
-Leverage the expertise of successful entrepreneurs to share skills, administrative services,web development, and other operational costs with the trainees.
-Support graduates in developing business plans/framework, enter an agreement to offer subsidize business loan to capitalize business( in order to give them time to develop their business) and offer them with lower interest rate and longer grace period and assign with expert mentors to help them grow their business over time. At the end of the project each person will undergo a self-assessment of his/her confidence and capability to remain in employment.
O Mercado: Quem são os seus pares e concorrentes? Identificar os outros que também estão trabalhando para solucionar as mesmas necessidades que você e o que você faz de diferente em relação a eles. Quais seriam os desafios impostos por esses concorrentes que impactariam no seu sucesso ou crescimento?
Our main peers and competitors are Barclays Banks, business entities,Youth Development Fund Department, Handicap International, National Council for people with disabilities. The innovation however stands out in the way this seeks to use evidence-based solution to have a long-term impact to the underserved community by leverages new ideas and practices such as emphasis of compulsory entrepreneurship training for the clients, hiring successful entrepreneurs to sharing their skills with the trainees, assigning trainees with expertise mentors to help them develop comprehensive business plans/framework, in partnership with lending institutes giving them direct access to micro-loans to capitalize their chosen business individually or in groups with long term repayment grace period.
Temas relacionados à inscrição
História: Queremos saber mais sobre o momento de descoberta desta solução. Conte-nos um pouco a história sobre onde e quando o(s) fundador(res) vislumbrou(aram) o potencial desta solução para mudar o mundo:
One day, I walked into a bank to deposit some savings for a rainy day and I happened to see a group of 8 individuals inside the bank looking very frustrating. They're disabled and poor.Out of empathy, I approached them and asked them nicely" Why do you guys look so frustrating today?" Together, they responded the bank denied them a micro-loan they simply wanted to start a Cyber Cafe business in town center as a group. I visited the bank manager,he said he's afraid he's not in a position to offer them loans for they lacked collaleral and prior experience in business. Therefore the banks doubted people like them would repay the loans. This was from that moment,I was inspired to explore further on this specific groups to have a solid understanding of their challenges accessing financial service.I found out 90% of them have similar experiences accessing micro-loans. For that, my innovation seeks to address the problem to help transform their overall livelihoods through economic activities.
Descreva a meta da sua iniciativa; fale sobre o que você está tentando alcançar.
To improve access to support service such as basic business skills training, business development and financial service among the poorest and disabled-to enable the them to efficiently initiate or expand entrepreneurial activities toward social and economical empowerment which in turn will deactivate poverty in such community-
Quais são os obstáculos da inclusão financeira que sua solução procura resolver? (Selecione todos que fizerem sentido)
Barreiras de acessibilidade física ou outros, que impedem as comunidades de usarem os serviços financeiros, A escassez de produtos financeiros acessíveis adaptados às necessidades de comunidades desfavorecidas e excluídas, Incentivos a prestadores de serviços financeiros para dinamizar o mercado.
Se você selecionou 'outro' acima, especificar quais outros obstáculos da inclusão financeira que sua solução procura resolver:
Para quais comunidades desfavorecidas ou excluídas sua solução vai oferecer acesso a serviços financeiros de forma segura, abrangente e adaptada às necessidades daquelas comunidades? Qual é a sua expectativa de impacto para os próximos 1 - 3 anos?
The POOREST and the DISABLED persons.
A sua solução funcionaria em outras regiões? Se sim, onde?
While the innovation begins by serving its target audience(poorest and disabled) residing in Eastern region of Kenya, the innovation has the potential of scaling up and transforming the lives of a widespread of the poorest and the disabled people in other geographies or regions like Central, Rift Valley, and Western of Kenya-
Se a sua solução for muito bem sucedida, o que será diferente em 10 anos?
The poorest and disabled people:
- earn income through their own chosen economic activities as individuals or in groups that decrease the risk of HIV/Aids, unwanted pregnancies and crimes
-have access to support service-basic business skills training, business development and financial services to initiate or expand entrepreneurial activities
-Are recognized as successful entrepreneurs, and productive, contributing members of the community
-Are able to contribute to the development of inclusive communities through promotion of economic activities and the influence of positive role-models
- Women have control over the money they earn, income, property, savings, and financial capital to work productively and foster well-being.
-Mainstream government and nongovernmental, small-enterprise development programmes, banks and micro-fiance institutes change their policies and practices to include people with disabilities and the poorest in the training and financial service assistance.
O que tiveram que mudar para fazer isso acontecer?
-Continued support of obligatory training for the poorest and disabled rather than optional training in entrepreneurship for those with no prior experience in economic activities/entrepreneurship.
-A more efficient and continuous provision of direct microfinance to the poorest and the disabled on a non-discriminatory basis who have graduated from the training by partnership with lending institutes such as banks and micro-fiance institutes to help them start business-and assign them with expertise mentors to help them grow their business over time.
-Mainstream government and nongovernmental, small-enterprise development programmes,banks and micro-fiance institutes to change their policies and practices to include people with disabilities and the poorest in the training and financial service assistance.
Qual foi o impacto da sua solução até hoje?
By mean of entrepreneurship training, financial and mentoring support, innovation with its partners will enable the poorest and poorest people to have opportunities to earn livelihood through (self)-employment activities, improve their standard of living and contribute to the well-being of their families, and communities.
Qual é a sua expectativa de impacto para os próximos 5 anos?
Improved (self)-employment activities among 10,000+ poorest and the disabled persons that provide an alternative to a competitive and discriminatory labor market and help them understand their entrepreneurship aspirations, develop mentoring support system, develop business feasibility and business plans, acquire financing, and grow and sustain their businesses-either individually or in groups toward economic empowerment
Quais são as barreiras que podem impedir o sucesso do seu projeto? Como você planeja superá-las?
-Failure by clients to repay the loans: clients may fail to make a payment to us/our lending partners. To overcome this, the innovation will assures business training, monitoring and self-confidences buildings etc. to equip the clients/graduates to undertake self-employment economic activities successfully.
-Failure by selected clients to attend training to completion-we will ensure they sign an agreement to attend otherwise they won't be eligible to apply for loans.
-High interest on loans by lending institutes; the organization will enter a partnership/an agreement with Equity Bank and Family Bank to work together to offer the trainees with low and affordable rates on micro-loans borrowed and as well as long payment grace period.
As inscrições vencedoras apresentam um plano sólido sobre como vão alcançar e acompanhar o crescimento do projeto. Identifique as metas de seis meses para aumentar seu impacto.
Since it's a one year project, it will merge its tasks into a 12-month plan of action in order to reach impact milestone
Identifique as três maiores atividades que você terá de completar para obter a meta estabelecida para os seis (6) meses
Preparation of entrepreneurship training curricular and materials in collaboration with our stakeholders-(2 month)
Selection of trainees who were part of our focus groups , survery and inteviews study through a random approach-(2 month)
2-month entrepreneurship training, successful entrepreneurs' skills sharing, and networking and mentoring assignment-(2 month)
Agora pense grande! Identifique qual seria sua meta de impacto para 12 meses
Identifique as três maiores atividades que você terá de completar para obter a meta estabelecida para os doze (12) meses
Brainstorming of business ideas, preparation of comprehensive busines plans/framework with mentors' support/guidance
Graduates' application of direct financial support/small loans to capitalize business-individuallly or in groups
monitoring and evaluation, and follow-up through self-assessment, marketing success measured through clients' leads.
Por favor, explique de que forma o estabelecimento de parcerias é importante para o sucesso de sua inovação
KIVA connects people through lending to alleviate poverty. It only lends money to individuals through an existing organization (field partner). Partnering with KIVA will enable our graduates to apply for microloans for their business through our organization (field partner of KIVA).
-Equity Bank-our lending partners so that our graduates can access loans to capitalize business at very low interest rates. Equity bank will send staff to train our trainees
-School of Business-To develop an entrepreneurial training curriculum for our target groups. Staff will be part of training and mentoring
Atualmente você planeja atender outros locais, mercados e populações específicas com sua inovação? Se sim, onde e por quê?
We also target customers in the market at local, national and global levels because at the end of the training, our clients will develop their own chosen economic activities capable of offering a product or a service(like Poultry, Cyber Cafe, Hairdressing) to the market. Therefore customers from all across the nation and international community must be able to satisfactorily buy/use a product or a service that generate revenues for our clients. The innovation will closely monitor such income-generating initiatives to help them prosper. Our markerting success will be measured via clients leads.
Que tipo de ambiente operacional e fatores da organização interna ajudarão o projeto a ser bem sucedido?
The TEAM: The organization contains a multidisciplinary team of radiant, dynamic and highly talented people. Displaying diversity in interest and skill, the team boasts an array of professionals from Project manager, Entrepreneurs, Educators, Financial Officer, Accounts, IT and development specialists who all have rolled up their sleeves to make this innovation a success.
RESEARCH and STAKEHOLDERS: Having first hand of those impacted the most through research, and the support of our stakeholders and understanding of the impact the innovation is striving to deliver, we know we can achieve success with the very people we are serving supporting us as we develop the solution.
Fale mais sobre as necessidades ou ofertas que você selecionou anteriormente e/ou sugira categorias de apoio que não foram listadas
monitoring-Since the innovation will create other income-generating initiatives, it will closely monitor such initiatives to ensure they grow and thrive.
Mentorship: The project assigns the clients with a more experience person/more knowledgeable person to help guide/mentor them in design, establishment and development of their businesses. This is what initiatives need in order to be success.