Audience: Who have you identified as your customer/recipient groups and do these groups value your solution for different reasons? How do you engage different customer/recipient groups to deliver your solution?
With 65% of our population living on less than a dollar per day, most women in Malawi are unemployed and idle. These women understand the needs in their communities but are discouraged from innovation by mainstream banks who refuse to grant them loans due to their lack of referrals. Tiwale empowers Malawian women by providing them with micro-finance loans, vocational skills training, and employment opportunities.
Scaling the solution: How would the prize money and publicity help you to achieve your objectives over the next two years?
Our primary aim is to teach impoverished women how to rear and sell chickens. The price of a day old chick in Malawi is USD $0.5, and a full grown six week old chicken is USD $5. Including input costs of water, electricity, and feed, we expect to make a minimum 50% profit in this venture, which will increase the income of Tiwale women from USD $1 per day to USD $10 daily. We also intend to invest in a clothing design project where Tiwale women will learn to make dyed African fabrics that will be sold to designers. The project is expected to bring in an annual profit of over 300%. It will increase daily income from USD $1 to USD $15. The publicity will earn us a network of connections that are essential for the growth of our industries.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered
Through Tiwale, I have pioneered for 150 women to undergo week-long intensive business skills and entrepreneurship training and I have personally guided over 40 of these women into starting their own businesses, a process that required constant revision and feedback on their business plans. The forty women received start up loans that had to be repaid in ten weeks, but some had success that allowed them to repay us in as little as four weeks.
Are you are eligible to attend the Accelerator event in Cambridge and subsequent events in London, UK in January, 2015?