What barriers might hinder the success of your project and how do you plan to overcome them?
They key challenge in scaling a business like ours is the ability to find good quality employees. We have established procedures for hiring such as interviewing and conducting background checks. We are exploring options for generating a reliable pipeline of employees.
In addition, we face the risks of business model imitation, theft, corruption, exchange rate & commodity price fluctuations, lack of good market research, and general poor infrastructure.
Tell us about your partnerships
EGG-energy has developed a variety of partnerships that will help us achieve our goals.
We are working with Schneider Electric (France), BBOXX (UK/Rwanda), SolarAid (UK/Tanzania) and Solar Nexus to obtain and develop products that meet our customers' needs. We are supported by ENEA Consulting to develop and implement a robust monitoring framework of our performance and impact.
We are developing a partnership with a mobile phone network operator to improve the reach of our marketing efforts in exchange for our help in driving usage of their network and mobile money system, and benefit from the support of the Segal Family Foundation to identify and work with local grassroot organizations whom our service could be helpful to.
EGG has received the support and approval of several government officials, and has a good relationship with the Rural Energy Agency. We are further interacting with Technoserve regarding human capacity building.
Finally, EGG is in the process of developing partnerships with financial organizations like savings and credit cooperatives and microfinance institutions to provide end-user and franchisee financing.
Explain your selections
--We have received funding a variety of business plan competitions and fellowships from both universities and non-profit organizations.
--Invested Development invested in EGG-energy with convertible debt.
--EGG-energy has received donations from individuals and foundations.
-- Several volunteers have contributed their talent and expertise to EGG-energy.
--Our customers provide a revenue stream.
How do you plan to strengthen your project in the next three years?
We plan to expand rapidly and achieve profitability in three years.
Ongoing efforts to support this expansion include working at developing partnerships with technology suppliers, Tanzanian MFIs and community representatives (such as village committees) to identify their needs and how we can best address them, creating an IT infrastructure to facilitate daily operations, and developing robust operating and training processes.
We are also working on the development of a franchise model that will allow local investors and community organizations to invest in EGG-energy charging stations in their area, as well as increase solar power generation in Tanzania.
In the next three years we are building the core of the business, including the IT system, senior management capacity, boards and reporting systems. Finally, we are continually thinking of new partnerships, products, and systems and expect that some of them--such as solar-based charging stations--will be implemented on a broader scale in the next three years.