Best Ideas 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Idea’ category. All the entries consist of innovative solution or proposition for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage. If you want to know the 10 finalists in this category, click HERE
MetamorphoSpace: Tranforming and Optimizing Urban Environments
Explain your idea in details:
MetamorphoSpace is the answer to expensive real estate in developing cities for local businesses in the tertiary sector. We aim to transform urban environments to provide accessible locations at affordable rents for local businesses, and optimise real estate distribution. This will promote economic growth in developing cities, allow local businesses and SME'S (Small and medium-sized enterprises) to flourish and provide services to the community. MetamorphoSpace helps create sustainable cities, and ameliorates real estate crisis in urban settings. Lastly, MetamorphoSpace promtes the set up of industries and infrastructure. Therefore the project tackles Goals 8,9 and 11. What is a MetamorphoSpace? Lets take an example to understand the issue. One one hand, we have Mary, a travel estate agent in a growing city. She wishes to rent an office for her company but rent is expensive, and a majority of her customers visit on weekdays, and in the daytime. Therefore, her space is vacant on evenings and on weekends. On the other hand, Thomas is a local chef who wishes to set up a take-out restaurant, but a maximum number of customers buy on weekends and in the evenings? Similarly, there exist many service businesses, that only need a workspace for certain hours in a day. A MetamorphoSpace is a workspace in a prime location of a city, that can be rented out to different businesses for different times in a day. For example, a real estate/tourist agent can use the space as her office in the mornings, teachers could conduct workshops for children in the afternoon, and at night, chefs like Thomas can use the space as a restaurant. The local businesses benefit, as they can provide their services at a prime location, and only use the space for the required time, spending less on rent.
Expected impact of your idea on sustainable development
MetamorphoSpace aims to alleviate problems caused by high real estate prices on local businesses, and promote SME's and economic growth. The target of the project is to set up at-least 6 spaces in Mumbai city, and its growing suburbs. We aim to penetrate the nation market by 2021, by setting up spaces in the bustling cities of Delhi and Bangalore. If funded enough, we may franchise the concept, allowing rapid expansion, even into international markets. We wish to set up these spaces in all the busiest cities in the world, from Beijing, to Nairobi and Kinshasa and Sao Paulo, allowing MetamorphoSpace to become a global masthead for entrepreneurship, and the promtion of small businesses. The best way to evaluate success, is to determine the number of businesses renting the space in a week, and the number of hours each space is rented. This allows us to determine demand. To test the validity of the concept, we can compare the rent paid by business to us, in contrast to renting an entire workspace in the same area.If we can provide a space at a far lower prices, MetamorphoSpace is a success. At the end of the day, even if MetamorphoSpace is able to help a handful of small businesses, it will still be a success to me, as it can indicate the importance of sustainable cities, and promote local communities.
Plans for implementation and sustainability
To set up a MetamorphoSpace, we can buy a shop/workspace in a prime/busy part of a developing city (Mumbai initially). The space is painted to neutral colours, and a high quality kitchen space is set up in the back, separate from the main room. A store room is placed, and stocked with essentials like tables and chairs, that can be arranged in the main room depending on the businesses needs. An employee will be needed to organise with customers, maintain and reorder the space. Licenses for a restaurant and office in the space will be acquired, and a website is set up. We can advertise in the local area, using flyers and online advertisements. As the patrons of the space change, LED billboards can be used outside, as the message can be modified to indicate the businesses/restaurant currently working from the space. A customer calls in advance, and reserves the space for a certain time period, though they can also reserve the space on regular schedule. They come to the space at the given time, along with their supplies and requirements. The space is reordered to serve its purpose, and the business is free to use the space until its allocated time. Pricing is hourly, and is variable, depending on location, time and demand. Once a demand is identified, and a space has regular scheduled renters, a web of MetamorphoSpaces can be set up in different parts of a city, and eventually internationally. The project can be financed by private investors, as the business plan indicates that the company be remain for profit. However, with assistance/grants from UN organisations, or local governments, profitability margins can be reduced, allowing MetamorphoSpace to provide workspaces to a multitude of small businesses at cheap prices.
Good Day! My name is Bilal Moin, and I'm 16 years old, and a grade 11 IB (International Baccalaureate) student at Dhirubhai Ambani International School, Mumbai. I am studying Economics, Mathematics and History at the Higher Level, and have an rabid interest in the fields Economics, Finance, Business Management and Politics. I am a highly experienced public speaker, leader and a hard working and high scoring student. Over the past few years, I've had a few trysts with entrepreneurship and business, I am the CEO and Founder of an educational organisation called The Munkey Business, which offers one of India's most expansive Model United Nations (a competitive simulation of the UN organizations) training and support program for students. We also pioneered MUN conference promotion in India, providing advertisements services to reputed conferences at the University and School level, both in India and abroad. I am also an avid participant in aforementioned MUNs, attending over 15 conferences, achieving first position in almost all. I also hold positions of leadership in multiple reputed MUN organisations and conferences. Furthermore, i have certifications in Finance from the University of Geneva, amongst others. I also teach and organise a weekly entrepreneurship club in my school. In my free time, i invest in the stock market, rant politics and pen poetry. My work has been published in a Scholastic anthology, as-well as in multiple literary journals. I've lived in Mumbai for many years, and have been witness to the skyrocketing of rent. For many years i observed multiple failures of small businesses, primarily as they couldn't cope with the expensive rents in central locations. This cyclic failure of small businesses in my area motivated me to brainstorm, and come up with this concept,