What solution(s) does your initiative address to help emerging entrepreneurs and small businesses grow and thrive in underserved communities? (select all applicable)
Access to financing, Access to talent, Access to supply chains, Access to technology, Access to economic opportunity.
What has been the impact of your solution to date?
(1) 35 small rural businesses started and developed by 88 young entrepreneurs with Adel`s support.
(2) US$ 52,000 invested in loans to young entrepreneurs, with none default rate.
(3) Those young entrepreneurs raised in about US$500/month their income through their businesses (local average income: US$ 75).
(4) 100% of served youth still in their rural communities and have plan to develop themselves staying and working in their communities.
(5) Deployment of new agroindustrial facilities in the region and reactivation of old ones, which were abandoned - that are being developed by local young entrepreneurs.
(6) Technical, productive and commercial development of family farming businesses.
(7) 217 young entrepreneurs trained as rural entrepreneurs, to develop, manage and enhance their businesses.
(8) Added value to family farming production chains in the region.
(9) Engagement of young entrepreneurs in local associations and in participatory governance (decision making).
What is your projected impact over the next 1-3 years?
(1) Development of 70 new rural businesses by local young entrepreneurs.
(2) Development of 03 cooperative production networks in the region, by young entrepreneurs, integrating their businesses and adding value to their products.
(3) Access of local businesses to new and more profitable markets, with value added farming products, raising family farmer`s average income.
(4) Investment of US$ 235,500 on credit to young rural entrepreneurs.
(5) Knowledge sharing among young entrepreneurs through a social network, designed to connect them and to stimulate exchanging of experiences and information sharing about challenges and solutions. Such as more efficient ways to feed poultry.
(6) Access of local young entrepreneurs to 9 ICTs (information and communications tools) Centers.
What barriers might hinder the success of your project? How do you plan to overcome them?
(1) Inadequate physical structure for training activities with youth. Adel is building the Young Entrepreneurs Training Center in the region, with all needed structure: classrooms, dormitories, cafeteria, computing room, library, study room and laboratories.
(2) Isolation of communities in the semiarid region where Adel is working, which don`t have access to Internet, telephones and roads are almost not accessible in some seasons of the year. Adel is implanting ICTs Center in 7 communities, with computers, telephones and antennas, so local families will have access to communications tools.
(3) High logistical costs (with fuel and vehicle maintenance). Adel is developing sustainability strategies to generate income to cover those expenses.
Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact
Investment of US$ 65.000 on credits and capacity building to 45 young rural entrepreneurs develop their businesses.
Now think bigger! Identify your 12-month impact milestone
Creation of a regional cooperative network of young entrepreneurs, integrating and enhancing their businesses.