Impact of your enterprise on sustainable development
At Prepa, we are having both numerical and social impact on the economy and development of Africa by providing quality and affordable education, facilitated by Technology. Our key traction metrics are number of downloads, number of daily sign ups, weekly active users, daily active users, conversion from free users to paying students and user churn rate. We have been able to hit over 10,000 downloads on our mobile applications both on Android, Blackberry and Windows Phone. We currently have minimum of 1,000 students signing up and joining the Prepa platform every week with 6,000 monthly active users. We currently have 5% of our users as paying users with a low churn rate as we recently built some virality into the mobile app, and actively leveraging on the facebook platform to acquire more users. We currently have over 155 positive reviews from our users on the Google play store(4.5/5.0), with testimonials from students who have used Prepa platform for preparation and have passed their various examination with ease.
Sustainability and future plans
Prepa generates income from its mobile applications through affordable subscriptions from students using it. With $20 per annum, students stay connected and benefits from all features on our platform. Students also have the option to go for a weekly subscription plan priced at $0.79 or a monthly plan priced at $1.99. Prepa also plan to make money by white-labelling its web solution to coaching centres/schools at a monthly fee of $2.49 per installation or $25 per annum on every one installation. We are looking at making a monthly recurring revenue of $15,000-$20,000 in the next 8-12 months with 50,000 students.
Your profile as an entrepreneur
I am currently the Founder of Spantom Technologies Ltd, incorporated in Nigeria in July, 2015 and have since then been working on a Socio-learning educational platform (Prepa), for secondary school students in Anglophone West African countries, where I created a community for idea and knowledge sharing between students and network of instructors, in preparation for students Pre-University examination. I recently completed a 2 years entrepreneurship training, from Meltwater Entrepreneurial School of Technology, Accra, Ghana. I have been able to apply all the business and entrepreneurship skills learnt so far to my current startup. I have a background in Computer Engineering, with 9 years of programming experience. I am both web and mobile application developer, for which I've built over 15 apps till date. I have much interest in Education and always willing to help others. Prior to this startup (Prepa), I built a desktop educational software for students to practice for their Pre University Examination and was used by schools and thousands of students. I have great experience building scalable educational products from the past products which I've worked on and I bring onboard this skills and experience to cofound Prepa.