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
Startup of all Startups
Explain your idea in details:
Many people have a tremendous business plan but no capital, so my the main objective of this idea is to collect funds for upcoming and aspiring individuals. Also, a side income for many investors in this investing age. The investors will go through n number of startups hosted on our website and will decide where to invest. We will decide the minimum and maximum amount which can be invested for an individual. Also, we will decide the total funds a particular startup can get. We will know about their business model and their vision of profit. Once invested, the startup will get funds and the profit will be shared with the investors(we can decide the levels of profit and all the other parameters). The profit of the startup has to be around 10 times of the invested money in that particular start. In this way, a share could be given to the investor as well as our own startup.
Expected impact of your idea on sustainable development
If we take it as per rupees, let us assume minimum amount which can be invested is Rs 1000. Now, suppose even if we have 10,000 investors, the total funds would be raised to Rs 10,000,000. The company would provide us with the detail about the amount of fund required and what are their plans for the upcoming month and what profit are they expecting. As the quotation would match, the investors, our company, and that particular startup; all the three parties would be happy. If the startup fails, investors will lose their money. Investing is always subject to market risks.
Plans for implementation and sustainability
First, the startup will provide the number of funds required and their plan to how efficiently they will use and what are the estimated profit. Next, the investors will invest in that startup. After a few months, the profit margin would be calculated. Suppose the startup had a total investment of Rs 10,000(10 people invested 1000 Rs). The profit after specific time turned out to be 50,000 Rs. The investor will get 1% of the startup profit and the amount invested. So those investors will get Rs 1500. Now, what my company would get is 10% of the remaining profit. Here, I will get 10% of 50,000-(500*10) = Rs 45000 i.e 4500 Rs. We can change the business model according to our need. This is just a tentative model. To be frank, I don't have a financing source nor any collaborator as of now.
Yes, my age is 23 right now. I come from India and have done my Engineering in Electronics and Telecommunication. I like to think about creative ideas and write blogs on cricket at www.crickettreat.com I have won several awards in my past organization and have just moved to a new organization.