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?
UNFIRE involves the commitment of Blessing Mene, Kelvin Ogholi, Esther Kantiok (Dr), PROVET Nigeria, KO7 Ltd, and National Research Institute. Using the "blue ocean strategy" we shall scale production and supply through private sector commercialization. We are currently in touch with interested private investor(s) and international social investor organizations like The Acumen Fund West Africa, Big players in the feed manufacturing sector etc.
The prize money and publicity will help us attract mentorship and resources that will accelerate our business development and help us reach our goal of developing and scaling UNFIRE feeds into a well-recognized low-cost feeds for smallholder farmers in Nigeria and West Africa.
Financial Sustainability: What is your business model to ensure financial sustainability?
UNFIRE funding comes from earned income – retaining 56.5% of profit from each unit sold; It costs UNFIRE $5 to produce 25kg of feeds which will sell for $8 – making a profit of $3 per 25kg and $120 per tonne. At our current size, we are seeking grants, competition awards, & private donations/investment to raise the capital (approximately $150,000) needed to outfit a facility capable of serving over 1000 rural enterprising Smallholder Farmers.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.
Mene has a strong educational/research background in Chemistry. Having previously worked in his family farm for over 6 years this project is well-positioned for success. He co-founded the Jorsey Ashbel Farms (award winning social entrepreneurship farm project) which piloted UNFIRE feeds. He has received national & international awards from UNESCO, London School of Business, Foster School of Business USA & Wits Business School South Africa etc.