NIC Boutique "the very best from the land of lakes and volcanoes"

NIC Boutique "the very best from the land of lakes and volcanoes"

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Last Update: March 25, 2013

NIC Boutique is a social enterprise that helps artisans, producers and entrepreneurs express their talents, empower themselves, and become more financially independent by providing them with the support and services they need to innovate their products, access new markets and grow their businesses.

Our vision is to become a platform for high quality, socially responsible and innovative products that support and promote entrepreneurship and innovation efforts in Nicaragua and other developing nations.

Type: for profit

The Problem

Nicaragua is one of the least innovative and poorest nations in the western hemisphere. Over 50% of the population lives with less than $2 a day. Thousands of talented artisans, producers and entrepreneurs, which have the potential to create new job opportunities, lack the support and services they need to become innovative, access new markets and grow their businesses. We need to create innovative and sustainable long term solutions that promote collaboration, create sustainable growth and improve lives.

The Solution

Our solution is to create a sustainable method of providing artisans, producers and entrepreneurs with the support and services they need by creating an innovative brand platform that helps design, market and commercialize high quality, unique, socially responsible products made by Nicaragua's best artisans, producers and designers.

Example

1. Our multi-disciplinary team of specialists identifies qualified artisans and producers that have products or the potential to create products with market demand. 2. Once a qualified artisan/producer has been identified we perform a custom designed diagnostic based on 7 main categories which are: Design, Brand, Technology, Innovation, Production, Finance and Management to get a 360 degree view of the artisan or producers current strengths, weaknesses, opportunities and threats. 3. We evaluate the results of the diagnostic and select the most viable solutions that will help the artisan/producer improve and innovate their products to prepare them for new markets. 4. Once the artisan/producer's products are ready for market, we begin a testing phase through our retail store and distribution channels to learn how to best introduce the product into the marketplace and minimize risk. 5. Based on what we learned during the testing phase we make necessary improvements and refine our product introduction strategy and begin to introduce the product into new markets. 6. We measure and analyze the results of our efforts to identify and systemize best practices for each product and category. 7. We give back. For every product sold NB designates 10% of the profits to a special fund called FEI (fond de emprendimiento e innovación) that will be used to support entrepreneurship and innovation efforts in Nicaragua.

Budget: $50,000 - $100,000

Marketplace

In Nicaragua there are currently no local competitors that offer all the services or brand platform that Nic Boutique does. There is a tremendous lack of service providers specialized in innovation and world class design services. The few efforts that have been made to address these needs have been mostly provided through NGO or government sponsored programs that focus mainly on technical training, equipment financing and or business coaching. The biggest problem with this strategy is that these programs do not provide long-term sustainable solutions to innovate and commercialize their products. Once the funding has run out the artisans/producers are on their own.

Team Members

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Need

We are a group of young "design thinking" entrepreneurs who want to make a difference in Nicaragua, Central America and the world. We have accomplished amazing things in the last few months through blood, sweat, tears and the belief in the power of design to change lives. We are now ready to...

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Challenges

Growth Tracker

Stage: Milestone 1 of 1
Start
11/01/11
End
Achievement
Connected! on
Date 12/24/12
Milestone
Growth Phase 1
Date of Completion 02/21/13
In Progress
Obtain needed working capital
In Progress
Increase distribution points of NB products to include 2 major supermarkets
In Progress
Add missing talent to complete needed team
In Progress
Improve brand presence and product lines in PLISA Duty Free shop at Managua Airport
In Progress
Launch E-commerce website and local delivery service to major Managua hotels
Milestone 1
Growth Phase 1
Our Impact Reports:
David Cadia hasn't posted any impact reports yet.

Comments & Activity

Comments

David Cadia profile img
Wed, 09/05/2012 - 19:10

We have begun a movement of positive change in Nicaragua and we need help to scale our impact. Become part of the team by helping us change the status quo in Nicaragua! We need to support impact entrepreneurs that have the vision to come up with creative and innovative solutions to reduce poverty and improve lives. Any support or help is much appreciated.