Scaling the Solution: How do you intend to scale your activities over the next two years (e.g., reach new markets, diversify solutions, etc.)? What will make this possible?
We intend to scale our activities over the next 2 years through the network we have built & are continuing to build on the ground. These include CSOs, local experts & educational establishments such as Bookbridge & universities. Our robust model is transferable to other provinces throughout Cambodia & also in other countries in South East Asia. Over the next 2 years, we will grow our portfolio by expanding our CSO network to 5 CSOs. We will partner with each CSO to run 4 projects per month on average which will total to 500 projects over 2 years & will impact 250 families per year. The prize money would help facilitate our growth & the brand publicity will help us attract more resources such as crowdfunding & knowledge from corporations.
Financial Sustainability: What is your business model to ensure financial sustainability?
The Sonas World business model is based on the Ashoka Hybrid Value Chain which aims to generate sustainable social change by reducing poverty & unlocking wealth. Our revenue model consists of income from microcredit interest & CSR funds from partner businesses. Our break even point is reached in approximately two years time. The prize money will help manage our cash flow & support our operations &marketing needs in order to accelerate the impact.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.
This year, I spent time volunteering in Tanzania where I led a school group of 21 students & teachers. Whilst we were there I established an entrepreneurial opportunity for the local Massai women to produce jewellery which could then be sold back in the developed markets. I also supported the Bookbridge capability programme (http://bit.ly/17yXtC2) in Cambodia which involved hands-on leadership development & setting up a social business.