Best Ideas 2019 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
"THE PITCHING APP"
Explain your idea in details:
The pitching app would be a software application that would be built primarily for the purpose of providing an online platform for students across Nigeria to pitch their businesses,ideas and talent vis avis connecting them with potential investors, all in a bid to create "studentpreneurs". About 40% of Nigerian students own "informal businesses" but lack the capacity and the enablers to sprout into optimal productive ventures. the app would be run in such a way that students would have direct interactions with investors without having to go for competitions. Each student would have a unique page on the app and would be open for all investors to see. deals would be struck directly on the app once the terms and conditions have been met. it would be open 24hours daily. The app would also eliminate the fear factor that comes with competiting. Also according to "wonderlist" Nigeria was rated the country with the highest number of internet fraudsters, persons within the ages 18-26 are mostly the main actors. The pitching app also aims at " empowering over 2m students as roughly 90% of students in Nigeria own internet enabled devices" and are active on the internet. Also a unique strategy would be adopted to bring students on board. Every university in Nigeria has a portal for registering students so what I intend to do Using my influence as an ex student union leader is to liaise with these universities in such a way that the pitching app would be connected to the various portals across Nigeria. After any student registers on his/her university's portal it connects them directly to the pitching app. What that implies is that on an annual basis the pitching app would host on the average nothing less than 2million students.
Expected impact of your idea on sustainable development
As stated above via research conducted by myself and my team, "the pitching app" would host 2m students annually, using the strategy of patnering with universities across Nigeria. The multiplier effect is that each of these 2m "studentprenuers" would impact directly in the communties they reside bringing about continous and systematic developement in those areas. The average "informal business owner (restaurant owners, hairstylists,farmers,boutique owners etc) in nigeria employs on the average two extra persons when business grow well. most tertiary institutions in nigeria are situated in villages, empowering these students implies reduction in rural-urban migration, better standard of living, a vibrant and productive work force which further translates to reduced crime rates and an obvious elimination of poverty and hunger. By 2020 the plan is to have successfully provided funds and support for 2m nigerian studentpreneurs. Also with my earlier analysis that means 4m people in total. And by 2025 20m Nigerians. the overall goal is not just to ensure zero hunger or to combat poverty alone but to genuinely ensure that young people are self employed, productive and contribute immensely to nationbuilding. Evaluation of the app would be on an annual basis And would be carried out via three parameters; Did we reach our annual target of providing funds for 2m students as projected this we would deduce from the number of registered students on the app. Also feedback from the students And investors on the app as to what they feel should be added on the app. Also our financial projections; how much we were able to generate via advertisements,partnerships,sponsorships and premium payment by investors. My projected revenue from investors via their premium payments is placed at #50,000,000 naira in the first year, excluding other avenues stated above.
Plans for implementation and sustainability
Freemium business model- this model was adopted by myself and my team as it succinctly captures the direction "the pitching app" would follow. Investors would pay a premium of atleast #1,000naira all to ensure the app is properly maintained and functions maximally. Once a deal has been struck with the prospective studentpreneur a "document" would be prepared by our legal team on the app, for reference purposes and to help in directing the path of the business both parties agreed to. Our first line of action is to partner with financial institutions specifically commercial banks. To this effect proposals have been sent to these banks in Nigeria. The benefit i outlined for these banks asides the obvious advertisements of their brands on the app, each of these studentpreneurs would open accounts in their banks as a way to boost their clientele base as well as ensure they manage the funds that these studentpreneurs get from investors. I also hope to partner with the United nations to create awareness for this app once it's launched and to attract potential investors on the app. And finally partner with tertiary institutions as They play a pivotal role in the whole process, Infact the bulk of the success of this application is hinged on the willing partnership And support from them. The pitching application is slated to be launched on November 2019 all other factors being equal as well as getting the proposed sponsorhip and support from the above stated institutions. Education and development is an age long phenomenon and a series of continuous events, in Africa and specifically Nigeria education and development is only just beginning based on my premise the pitching application would keep being relevant as it trys to solve issues that are very peculiar to Nigeria and Africa by extension.
I am Evans ugochukwu a 25 year old Nigerian business administrator, I am a graduate of business administration from the prestigious Crawford university Ogun state Nigeria,having been born in Nigeria a country blessed with a lot yet provides very little opportunities for young people all as a result of bad leadership. It made me a very pragmatic and selfless individual the need to provide for and fight for the rights of people around me led to me being a student union leader which was a huge success as myself and colleagues fought for the rights of students. I was also voted the most influential person in my dept after my contributions to the department. My strongest motivation comes from the suffering of people around me I see myself as a beacon of hope for young nigerians.