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 expand in Bhutan and Rwanda in next 2 years. As Dazin manufactures and distributes fuel cookies at decentralized level, it requires effective management and easily scalable model by using key partners wherever possible. Initially, we aim to work in partnership with community forestry management group in Bhutan before going to communities without forestry groups, so that management group can do all the communications to the households. Dazin is in need of seed investment to replicate the village level production business model for scaling to other villages. This investment is mainly due to the establishment cost of the fuel production factories. This prize money will help to kick-start our operations in Bhutan at greater pace.
Financial Sustainability: What is your business model to ensure financial sustainability?
Dazin is in fuel generation business. Dazin generates most of its revenue by selling fuel cookies, not by stoves. All the installed factories reach breakeven in maximum 2.5 years. The payback time for each free stove given in rural areas is just 5 months due to fuel sales. After 3 years, Dazin will launch social franchising model in which communities can own the factory with a royalty fee, ensuring earnings for us to expand in new markets.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.