Best Projects 2019 features all the nominated entries submitted ‘Submit your Project’ category. All the entries consist of innovative projects run by existing enterprises in the form of businesses, NGOs or informal programs.
Waltor energy Corp.
Explain your project in details:
My main objective is to build an indigenous company that provide renewable energy system to at least 70 percent of 194.87 million people and 23 million SMEs who suffer as a result of the epileptic power supply in Nigeria. My approach to solving this problem is giving our customers the ability to generate their own power by using our waltor generator. The waltor energy generator is a two phase free energy system that comprises of a solar system and an alternator mechanism working independently as a single system; that is to say, our customers may choose to use the alternator during the day and solar power at night. We aim at solving the following challenges; reducing the dependency of homes and SMEs on the national grid, increasing access to renewable elect ricity, reducing carbon emission in the environment as a result of the use of petrol/disiel generators. Our activities include designing and developing our product, employ two marketing strategies like content marketing; where well basically educate our potential customers about our product through publications on billboards, flyers, radio and newspaper. social and cross media campaigns using facebook and twitter. business to business marketing; marketing our product to other businesses directly.
Impact of your enterprise on sustainable development
My business will give our customers, our communities, and our nation clean, abundant, low-cost, distributed renewable energy, and will allow us to provide financial security for all shareholders while giving back to the community (infrastructural development). Currently I sell and install solar system to several homes and the feedbacks am getting are a positive one. About 10 of my prospect customers have slashed their electricity bill by nearly 60%. My measure to evaluate success is to see that every home in Nigeria have access to renewable electricity, reduction in use of petrol/diesel generators. My mission is to build a business on innovation that promote the use of green technology and to make these technology affordable and accessible to 70% of 194.87 million people in Nigeria. My current milestone is Registration/licensing of the business, validating my Target (homes & SMEs) market, moving from prototyping to potential product and Develop Q1 budget.
Sustainability and future plans
My revenue stream is selling my waltor generator at a price of N99900.00 and also running a customer post maintenance service at a price of N8000. I have projected a net income of N9.99m in the first year and N11.5m in the second year of operation. Channels for reaching out to my prospect customers ( homes and SMEs) is through local publications on billboards, flyers and radio, using social media campaigns like facebook and twitter. I will build a good relationship with my customers by setting up a customercare lines. My future growth plan is to expand my business and network to at least 10 of the 16 countries in west Africa.
Your profile as an entrepreneur
My name is Itsoko Bawo Williams, I'm 23 years old from Delta state. Currently an engineering 500level student of Enugu State University of science and technology. I have obtain certificates from several online business school like the adansonia business school in Milan. My entrepreneurial career started immediately after high school back in 2013 when I had taken a gap-year, this is when I discovered my passion for innovation and I since rode on that wave. In the early years of my work, I started making and selling toy cars for children, building energy generators and making LED light batteries from ordinary salt and water. In 2019, I was selected to join the 2019 cohort entrepreneurs of the Tony elumelu entrepreneurship foundation. My love for providing solutions and making an impact in my community led me to be the entrepreneur that I am today.