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.
Spectra - Energy meets Social Welfare.
Explain your idea in details:
Spectra is a social enterprise that is headquartered in Kigali, Rwanda that aims to create better operational conditions for small to medium enterprises(SMEs) by providing solar technology which is sustainable, low cost and conflict-free as well as securing financial inclusion opportunities to its customers. We are passionate about holistic and sustainable SMEs development and the main objective of our start-up is to empower, train, and build up the people we work with. We hope to someday see SMEs around the continent become self-sufficient and innovative models of excellence through harnessing the power of solar energy. Our standard solution is a 14.4 KVA PV plant placed on the roof of an SME (however, the system can be readjusted to be tailor suited to the specific needs of a business). As most SMEs can not afford the upfront costs associated with purchasing solar equipment the SMEs instead of purchasing the PV plant, the SMEs signs a Power Purchase Agreement (PPA) with us and by the power produced by the PV plant which is almost 10% of what they pay for power from the grid. Our compiled service package includes a solar consultation for our client and maintenance and monitoring of the solar system. Our main differentiator and unique advantage is that we go beyond the provision of energy as a solar company but we try to meet the other needs of the SME business as well. The main way in which we do so is by providing the social cooperative package. We group 10 of our clients into a social corporative and each month we take 12% of the total of what they pay for electricity and we channel this amount into the fund.
Expected impact of your idea on sustainable development
Our company is committed to bringing "The 5 E's" to every community and SME we work with. 1. Energy: our PV plant uses grade A solar panels (6*350 Watts) and has a battery backup of up to 7 hours at a peak load of 2 Kwh so electricity will always be available at all times. 2. Environment: Solar power is pollution free and causes no greenhouse gases to be emitted after installation. We aim to reduce the use of foreign fuels and fossil fuels by SMEs by at least 60% by 2023. 3. Education: We want to work with our fellow clients and educate each other on the importance of using renewable energy sources. We plan to reach over 2000 SMEs through our Educational Scheme called SPECTRA-IT-UP by 2023. 4. Entrepreneurship: Through the social cooperative that will be created for the SMEs, they can use these amounts to expand their businesses and by doing so they also get to employ more people. Spectra aims to create a strong network in-between itself and its clients generating more employment as we go .5. Enjoyment: There is nothing more that beats the idea to save more money for a business through a reliable and safer way. Empowering these SMEs leads to opportunities for growth and improved livelihood, which is manifested in the above five words.
Plans for implementation and sustainability
To achieve our financial goals, we expect prices to be percent cost saving ($0.20KWh) than those already existing on the market ($0.22KWh). For example, a restaurant that used to pay $2.66 per day or about $ 75 a month, the cost is about $60 a month which is around $2 a day. Additionally, 12 percent of the amount paid is directed to a social fund, which is affordable when compared to 3 percent Income Required by Rwanda Development Board when you want to get such social security. Spectra is uniquely placed in the intersection between solar technology, social cooperative funds and financial inclusions of SMEs on the African continent. With approximately 160,000 small to medium enterprises in Rwanda employing over 3.6 million employees and a $720 annual average payment of per SME, we expect to have 115 million USD market potential.Moreover, 12% of the revenue paid will be channeled into a social capital fund scheme. Our service offering is yet untapped in Rwanda. To position ourselves as a go-to destination, we have already started talking and forging relationships with different collaborators. East African Power Limited has already agreed to save as our incubator company and strategic investment partner with its Chairman, Dan Klinck, serving as our business advisor. We have identified some of our partners to be Great Lakes Energy Rwanda, the Rwanda Cooperatives Agency and EUCL. For Great Lakes Energy, the aim is to have a good, reliable supply of solar PV plants that are high-quality, value-added and durable. We recognized the need to also have RCA (Rwanda Cooperatives Agency) as a key partner in line with the social capital cooperative fund that we want to set up for the SMEs.
My name is Kudakwashe Solomon Mavuru and I am 21 year old self- motivated entrepreneurial leader with proven and tested marketing , data analytics and business development skills. I am originally from Gweru , Zimbabwe and I am currently pursuing a bachelors degree in Computer Science and also pursuing qualification to be an actuary on the side at the African Leadership University. I have also been working with the faculty at the African Leadership University as a Data and Decisions Intern for over 2 years where I continuously designed a blended learning experience for my fellow peers, teach and mentor them. Outside of academics, I have co-founded (SPECTRA) with the aim of that tackling energy and issues of financial security in Africa. My extensive research in both Rwanda and Zimbabwe has enabled me to interact and work closely with clients and partners from diverse populations.I have cultivated excellent cross-cultural communication skills and an ability to develop trusting, professional relationships. Spectra has already been a finalist in the Rwanda National Hult Prize and recognised at the Regional competition in Lagos , Nigeria for being a solar energy project that could be scaled up to improve the lives of millions. I'm really driven by results. I like it when I have a concrete goal to meet and enough time to figure out a strong strategy for accomplishing it. I consider myself as part of the global community and as a global citizen. For me being that global citizen means not only to enjoy our rights but by taking care of the surrounding people and environment inorder to create a virtuous society in the world.