Awards: What awards or honors has your solution received, if any?
Harvard Business School New Venture Competition Finalist
Colorado College Big Idea Competition Finalist
Global Engagement Summit Award for Crowdfunding
Tell us about your partnerships
Partnership is key to business and as such we are partnering with existing distribution companies and NGOs to create more value within our target market demographics and minimise cost. We are an energy startup and to minimise risks, we draw on strategic partners who have already tested their models and have strong brand recognition within the African market.
In the area of distribution and building a business model, we have created a partnership scheme with Burro Ghana(http://www.burrobrand.biz/) where we leverage their distribution network and employees in reaching to our target rural communities. Burro is an established brand within the Ghana market and as such aligning with them offers Kadi Energy the opportunity to gain an early traction in the market whiles allowing Burro to diversify their revenue stream further by selling our innovative products.
Other Joint Ventures & Partnerships
In addition to our partnership with Burro Ghana, Kadi Energy has contracts pending with Grameen Foundation and Northlite Solar. Both of these companies have committed to placing orders for our product for certain communities in which they operate. On a smaller scale, Kadi has also reached out to several local organisations, including the CCT foundation, an NGO based in the Brong Ahafo region that is made up of young men and women who help each other financially. That is, they help each other acquire jobs, which leads to the reduction in unemployment rates in Ghana. Kadi also has partnership interest from Massive Prove International Company, who recruits unemployed youth in Accra and its surrounding suburbs. Similarly, they are willing to partner with Kadi for the sales of its product to help them achieve their goal of reducing unemployment in the country. Finally, Kadi has interest in partnership from Nana Adu Sales and Distribution Agency, a distribution company that has young men and women working as sales personnel on commission. They are also willing to partner with Kadi to sell its products.
Challenges: What challenges might hinder the success of your project and how do you plan to overcome them?
Our biggest challenge is risk associated with distributing our product. Most of these risks include, people not completing their payment or running away with our product. We have already set up mechanism in place to minimise these risks by transferring them to already existing companies like Burro Ghana who have mechanism set in place to tackle them. We will look into more future partnerships as we pilot our project.
How does your idea help young people create bright futures and improve opportunities for meaningful and long-term careers?
Kadi Energy will challenge young Ghanaians to build their own micro-companies marketing and selling Kadi products. Kadi will sell larger quantities of our products, in certain cases at wholesale price, to entrepreneurs who wish to create their own Kadi-facilitated business. These persons, termed sales affiliates, will have the opportunity to put their own stamp on every part of their business, except the price at which they can sell Kadi products. Sales affiliates will have no quota or cap on how much they may sell. This flexibility will allow for a variety of individuals with different demographic profiles to open or add to their own shops, and tap into previously untouched markets.
At the same time, Kadi Energy will provide strong incentives to motivate sales affiliates to be competitive, produce more revenue, learn valuable business skills, and feel like part of an elite community of Kadi affiliates. For instance, Kadi will provide each affiliate with training videos and manuals. To stir up competitiveness, we will also have monetary rewards for the top salesperson, determined through a publicly posted list of affiliates, their sales area, and their sales statistics. Finally we will provide periodic group training sessions to acquaint our employees with one another and improve their skills.
Intervention Focus: Identify which of the following best explain key parts of your solution
Job Creation, Entrepreneurship, Mentorship, Products or Services, Rural Economies.
Does your project utilize any of the innovative design principles below? Select a theme below that most applies to your work. If none of them do, no problem, you can skip this question.
Put Young People in Charge: provide the experiences and skills needed to be resilient, creative, and take action
Is your project targeted at solving any of the following key barriers? Select a theme below that most applies to your work. If none of them do, no problem, you can skip this question.
Lack of youth empowerment