TOGETHERFUND

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TOGETHERFUND: youth empowerment to the future by micro investments

Yaounde, Cameroonyaounde, Cameroon
Year Founded:
2013
Organization type: 
hybrid
Project Stage:
Idea
Budget: 
< $1,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

TogetherFund gives young cameroonians and african entrepreneurs opportunities to be funded/coached and mentored by other entrepreneurs.

TogetherFund is a network joining entrepreneurs and investors

TogetherFund is a place where your project will attract attention, financing and visibility

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

every young african could give life to their groundbreaking project?
About Project

Problem: What problem is this project trying to address?

The african youth are talented, educated and are looking forward making a positive change in their environment, they are ready to commit fully to the task of taking africa from underdevelopment to full scale development. Their efforts to design and execute projects are delayed because of three critical assets to which they currently have limited access: business knowledge, professional coaching and financing opportunities.

Solution: What is the proposed solution? Please be specific!

TOGETHERFUND is the solution. TOGETHERFUND is the place where they will find a family/network of entrepreneurs ready to brainstorm their idea with them, give them access to informations and business knowledge. TOGETHERFUND is a community where mentors from all over the world will share their wisdom and motivational speeches with young entrepreneurs showing them that it is possible to make a change. TOGETHERFUND is an institution where investors and donators will invest in challenging/groundbreaking/bankable projects giving young entrepreneurs the opportunity to prove themselves and change their world.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Meet Andre, he just graduated from university. During his studies, he designed a solution that could make a great changes in agriculture for farmers around the world. He starts brainstorming on is own and feels limited, most of his friends looking for jobs are not interested on wasting time in his illusions, Andre is loosing faith. That is when he gets in touch with the TOGETHERFUND TEAM after registering we quickly connect him with likeminded entrepreneurs where he finds a co-founder, our team start following their evolution and select an appropriate mentor for the project. Periodically they participate in seminars and weekly checkup. Finally their businessplan is ready we connect them with investors. Andre's project is born.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

To date we have conducted a study involving 500 members of our target, and the results have shown that 85% of the surveyees are willing to our solution to be born and available, 70% are ready to pay small amount periodically to have access to sensitives business information, coaching, seminars and other assistance. 100% are stating to have a life project they will like to see born in the few years to come. 100% of them believe that being an employee will not necessarily make a change. 100% are ready to take a shot at entrepreneurship if a simple, affordable and engaging solutions such as ours were to be available. Once we get our structure in place we know that demand will never stop flowing and that the network will grow away from the boundaries we primary set. Changing many lives, definetely causing the economical development of Cameroon and ultimately Africa's

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

- We are going to start in yaounde the capital city of cameroon and after 5 years we are planning to have a base in each major cities of Cameroon. - young entrepreneurs will be assisting to our seminars massively throughout the year and participating in our meeting and convention - Our procedure will allow a funding success rate higher than 50% for the projects that will be taken to the last stage. - We start receiving requests from young entrepreneurs in other african countries and we invite them to our incubator program. To make that possible we need to start strong and focus social.
Sustainability

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

All the financing we requires for starter are low according to standards: a location, furnitures, public relations and communication budget. Then after setting up a strong community, network of mentors, trusted angels investors and venture capitalists the system will start cycling on its own, giving birth periodically to great projects that will be stamped TOGETHERFUND forever and will give back to keep the process running.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

Many NGO's, Associations are adressing the same problem, our project differs from them primarily because they focus on humanitarian impact of projects, they consider that endeavour to be a donation and that it cannot be sustainable or even profitable, Our project will show that being a social-entrepreneur doesn’t means there is no ROI; we know for a fact that our initiative will be socially rewarding due to its impact, it could also be highly profitable if we reach the scale we are expecting. Because empowering others to make changes is beneficial in all levels not only humanitarian.
Team

Founding Story

I have been abroad, studying during six long years where I learned and observed how in other countries they where tackling social problems and triggering development. When I came back after that long time away, I had many projects, I started brainstorming, searching. That is when it hitted me, they were no one to turn to, no one was having time to think with me, no one was believing in my ideas, no financial institution was there to assist people like me with no records. I then figure out that the best way for me to be at the right place was to create that place for others "TOGETHERFUND" sounded so encouraging, so entrepreneurs in my country will never feel alone, a place where anything will be possible from an idea. A place to Believe

Team

The team is formed by three members one founder (an agronomy engineer) and 2 engaged volunteers (Public Relations graduated and an economist); 4 advisors whom are family members that are sucessfull in their area of business. As we set up, we will be growing the team exponentially in the PR and Communication Departments which will be our main activities, taking care of our members, mentors, investors and raising our visibility.
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