Best Ideas 2020 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.
Published on July 13, 2020 um 19:17
Explain your idea in details:
RayVern is focusing on empowering individuals to invest in Zimbabwe stock market, trade bitcoin and transact electronic money anytime anywhere around the globe.To provide a secure, cheap, innovative, user friendly, simple and easy to use stock trading, bitcoin trading and fintech mobile App. We want to address real customer pains by offering them a cheap, user friendly, convenient and innovative stock trading platform as compared to traditional stock brokers.Educating and simplifying everything about African stock markets because most people in Africa still think investing in stocks is complicated and it's only for the rich but with RayVern its going to be simple and understandable. We are also focusing on solving the current cash crisis in Zimbabwe by providing fintech services on our mobile App, but later we want to expand our services to other markets to become an international money transfer agent. Provide an innovative way to trade bitcoin. Build an online stock market (as well as crypto-currency) with real time data accessible and user-friendly Later we want to expand this project to other regional and international stock markets like Johannesburg stock exchange (JSE), Botswana stock exchange, Nigeria stock exchange, NASDAQ, American stock exchange and New York stock exchange for our investors to diversify and minimize risk.
Expected impact of your idea on sustainable development
Given the advent of internet technology, RayVern project is going to affect many people in a positive way because we are targeting everyone with an access to internet.There is a ready market for this project because we are solving real problems for real people in Zimbabwe and around the globe. We want to address real customer pains by offering them a secure, cheap,simple and innovative stock trading platform as compared to traditional brokers and it will make a huge different in people's lives.The success of this project will make a huge positive impact through job creation,smart ways of transacting money and it will boost many African countries' economies by bringing more new investors in the African stock markets. We are planning to do lean customer development in parallel with our first product version development just after we raise enough capital. We are expecting to build a huge potential customer waiting list of 1000 before are our real product launch.
Plans for implementation and sustainability
We need to recruit our third cofounder who is technical to help us to develop our first movable viable product.To join startup incubation and entrepreneurship support programs in Zimbabwe or online to help us to connect us with other industry experts, investors, advisers, entrepreneurs and raising capital as well as developing and launching our first product version. Focus on helping professional investors and a lot of first time stock market traders to buy and sell stocks listed on Zimbabwe stock exchange market.To trade bitcoin. To transact electronic money locally before we expand our services to other markets. Build client base by educating our potential customers about the stock market through campaigns, brand influencers and by adding educational features on our mobile App and then help them to sign in into our mobile App to access our services.Distribute our product on internet through App markets like Google play store, App store and Amazon.Promote initial trial by offering two weeks trial period before they start to pay subscription fees. Attract and retain key employees by offering stock grants and other benefits.Reach our target customers through strategic business partnerships like partnering with a local mobile phone manufacturer G-tel for our mobile App to come pre-installed in their mobile phones.To build our business using lean customer development method which is cheaper and it saves time. We are planning to fund this project through personal savings, friends and family, start-up incubation programs, angel investors, bank loans and venture capitalist. Will generate revenue through in App subscription fees and charging electronic money transaction fees.We can sustain this project through patents, trademarks, market diversification but mostly by promoting the culture of innovation and challenging the status quo in our company. We can exit this business through an initial public offering (IPO), merger or acquisition.
Cofounder 1: My name is Desmond Muranda, a 21 year old man, cofounder to RayVern inc. I am a young man very passionate about entrepreneurship. I enjoy being creative and challenging the status quo. I enjoy the art of bringing new products and services in the market through innovation. I'm a voracious reader, i enjoy reading business books.I'm really inspired to change the world to make it a more better place for everyone. "I want to put a dent in the universe," to put it in Steve Jobs words. Cofounder 2: My name is Raymond Mazhambe, a 28 year old man, co-founder to the RayVern Inc. I'm very passionate about development and a visionary who seeks to improve the lives of people through innovative change processes. I am big fan of business and leadership concepts, which are key facets in engineering growth and success. I enjoy developing ideas into practical solutions that help change the society for the betterment of the future and this has cultivated my innovation spirit to create opportunities for others and connect them to current development trends and solutions. In the words of Strive Masiiwa, "Reach out and change the world" is the mantra that I believe in.
Stage of Idea
Desmond Malvern Muranda, cofounder
Raymond Mazhambe, cofounder