Innovative

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Innovative

Congo (Kinshasa)
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

Innovation is essential for sustainable growth and finance has been identified as one of the most important factors determining the survival and growth of SMEs in Congo.Innovative is an innovation market place where SMEs,entrepreneurs with the solution that will solve the most important problems affecting people in Congo and has capacity to generate revenues will pitch their solution to get funds

About Project

Solution: What is the proposed solution? Please be specific!

Innovative is focused to fund creative minds, SMEs, entrepreneurs, students, women and youth with the most innovative solution that will impact humankind in areas ranging from education, technology, environment to health advancement,etc and has capacity to generate revenues and can ameliorate living conditions of people in Congo. The funds will be supported by donors, commercial, governements, private organizations. This is very unique and innovative solution to fund SMEs, entrepreneurs and creative minds based on their innovation that will resolve the most humanitarian, social, economical and environmental problems affecting the world to day and that can generate revenues. By funding innovative solution, we hope to stimulate growth and to allow SMEs, entrepreneurs and create minds without financial ressources to get access to funds.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Innovative project will stimulate innovation in Congo and increase access to funds for SMEs and Entrepreneurs. The innovation will lead to sustainable growth, jobs creation and poverty reduction in Congo. For exampel: A group of young congolese's students has developed a solution for health issues entitled " Smart Doctor " an intelligent smart device that connect with any Biosensor and can transmit patient vital information automaticaly to emergency services to the hospital through Internet Protect. It's innovative solution that can applied in many countries to make remote patient monitoring, as well to monitor elders people living in independant conditions in the developed countries, however due to their economical situation and lack of funds. These young people can't create a start-up for this solution. Innovative become a solution by giving this young people with an innovative solution access to loan to start the company that will market Smart Doctor. With the same ideas, it's clear that many creative minds, entrepreneurs and SMEs that have considerable innovations don't have access to confortable source of funding.
About You
Organization:
INFOGROUP INTERNATIONAL
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About You
First Name

NARCISSE

Last Name

MBUNZAMA LOKWA

Your Organization

INFOGROUP INTERNATIONAL

Country

, KN

About Your Organization
Organization Name

INFOGROUP INTERNATIONAL

Organization Phone

+243810578406

Organization Address

Tshitenge 30 Q.Masanga Mbila C.Mont Ngafula Kinshasa 11

Organization Country

, KN

Organization Type

Non-profit/NGO/Citizen-sector Organization

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Your solution
Country your work focuses on

, KN

If multiple countries, please list them here. If your solution targets an entire region, please select it below
Region(s) your solution focuses on:

Africa.

Range of turnover in your target firms, in USD

Less than $1 Million.

Average turnover in USD of your target firm

$0 - $1,000,000

Number of employees in your target firms

Fewer than 5.

Average number of employees of your target firm

Fewer than 5, 5-25, 25-49, 50-79, and more than 200

Specify the size, average and range of expected loans or investments in each target firm

Depeding to the innovation, the size of SMEs, and Entrepreneurs financial needs, our loan will be range from $10,000 to $ 100,000 for new entrepreneurs with a most innovative solution( with numbers of employees from 0-10). From $100,000-$1,000,000 for SME's(annual sales and total assets in the range of $ 5MM)

What stage is your solution in?

Idea phase

Innovation
How does your proposed innovation leverage public intervention in catalyzing private SME finance?

As many financial institutions in Congo find difficult to serve small and medium-sized enterprises (SMEs) because of high perceived risk and high transaction costs and lack of experienced personnel and appropriate corporate structures, which bias them against SMEs. It's evident that Innovative will develop equity financing as solution to catalyze private SME finance.

What barriers does your proposed solution address?

Lack of financial capacity, Lack of SME access to skills / knowledge / markets, High transaction costs for financial intermediaries to serve SMEs, Lack of competition / incentives for financial intermediaries to serve SMEs, Underdeveloped local capital markets (term local currency funding, exit options for SME equity), General barriers to SME development related to investment climate, Lack of financing to women entrepreneurs, Specific barriers to fragile and weak states.

If you checked any of these barriers, describe how your solution addresses them

- Innovative solution will funds any women/youth with innovative solution.
- Innovative solution will funds SMES/Entpreneurs in the innovation market
place
- Innovative is an incentive for financial intermerdiaries to serves SMEs
- Innovative will stimulate SME development in Congo

Impact
Provide empirical evidence of your proposed solution's success/impact at present. If your project is in the idea phase, please provide evidence that speaks to its potential impact

It's clear that sustainable economic growth is strongly related to the rate of entreprise creation and technical innovation. Vigorous enterprise creation depends on a nation's entrepreneurship culture and the ease with which business can be started and financed. Innovative is a solution that will have a positive impact and could be widely applied to Congo where the conditions for SME development are often much less favourable and access to funds are limited and the nation lack entrepreneurship culture.

How many firms do you expect to reach?

Innovative will funds 10-5,000 SMES, Entrepreneurs and creative minds in The Democratic Republic of Congo. The total estimate of SMEs population in Congo is 500,000. More than 20,000 creative minds and Entrepreneurs can be interested to picth their innovation solution and get loans from Innovative.

What is the volume of private SME finance you aim to catalyze?

The total volume of private SME finance, creative minds, entrepreneurs that we aim to catalyze is estimate at $ 20MM during five years period.

What time frame will be required to reach these targets?

Innovative requires more than 3 months to start operation in the democratic republic of Congo and it will take other 3 months to funds the first SME's and Entrepreneurs. We hope that in 6 months some SME's, Enterpreneurs with innovative solution can received funds and start to operate.

Does your solution seek to have an impact on public policy?

Yes

What would prevent your solution from being a success?

The risk of failure are very minimal with these kinds of companies but somes factors can affected our success :

1. The inability to have the capital necessary to fund SMEs,
Entrepreneurs, Creative minds, etc

2. Inability for SMEs, create minds and entrepreneurs to make high profile
innovation due to lack of innovation culture.

2. Others exogenous factors as loan repayments

3. Business climate in Congo: corruption,etc

Sustainability
List all the funding sources that are required for the sustainability of this solution

Innovative requires funds to operate. The major cost will be equipment, salaries, offices, website, development improvements, licenses, expansion and indirect cost in wich we will invest funds of $200,000. Regular monthly expenses are estimated at $24,691 and miscellaneous costs relating to administration will also be covered by this capital injection and cash-flows from operations. Wages are budgeted to be $50,000 per year.

Innovative will generate $500,000 in its first year of operation, with an estimated gross profit of 30%, yielding approximately $25,000 to cover administrative expenses. Based on the assumptions contained in our plan.

Demonstrate how your proposed solution has the capacity to graduate from dependence on public finance. What is the time frame?

When the SMEs, entrepreneurs, that receive loans from Innovative start to repaid their loans, we hope that the innovative project will become self-sustainable. We estimate that the business will break-even in its first year of operations.

Demonstrate how your proposed solution will survive a potential loss of its largest private funding source

It's evident that Innovative will invest money to the most innovative solution that could generate revenue and change living conditions of people. if private funding source leave the project, The revenue generate by Loan repayment can serve to ensure the sustainability of the project. It will be possible for Innovatibe to bay share in the innovation solution and SMEs that we will invest.

Please tell us what kind of partnerships, if any, could be critical to the greater success and sustainability of your innovation

Commercial, governement, private organizations will engaged in partnership with Innovative to select and fund innovation solution that SMEs, entrepreneurs will present.

Are there non-financial issues that could threaten the sustainability of your proposed solution?

Yes, the most problems that could affected innovative project are the political and business climate in Congo. As you know, congo is post-conflict country with unstable political situation.
According to World Bank, Doing Business 2010 reports Congo is ranked 183

Please tell us if your proposed solution aims to scale up through a high growth sector, expand immediately to multiple sectors, and/or scale up geographically

Innovative will be focused first to Congo market during the next 3-5 years and we will fund innovation in all sector from education, to environment, technology, Medical advancement,etc

Innovative will be focused on the innovative solutions presented by SMEs, entrepreneurs, innovators, women and youth that have the possibility to ameliorate living conditions of people and generate revenues.