Best Ideas 2022 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.

ECOFINLIT: A Greenie Apps to Foster Financial Literacy Amongst Women in Indonesia

Stage of Idea conceptual stage

Explain your idea in details:

ECOFINLIT is an online app that connects users, collectors, and entrepreneurs in fields related. People are being encouraged to collect their unused fashion to be re-cycled by third parties and at the same time, they could get additional knowledge to foster their financial literacy. This initiative is going to be held amongst SMEs women owners in Indonesia to help them manage their income and expenses, growth their wealth, and help to achieve their financial goals. The driving factor behind my motivation is derived from the 2021 year report from the Ministry of Cooperatives and SMEs of The Republic of Indonesia, the majority of SMEs owned or managed by women accounted for 64,5%, and supported those facts, the inlined report from the Ministry of Women Empowerment and Child Protection also shown that financial literacy index amongst women is still lower than men in Indonesia, constituted to 36,13%. Meanwhile, we also faced another challenge regarding our environmental issues whereas the fashion industry which contributed to 18% of national income also became a source of 20% of world water pollution and 10% of carbon emission by 2019 according to the Fashion Industry Waste Statistics. To address this issue, I aspire to establish this app to make financial literacy become more accessible with a green technology payment method by using some fashion waste (e.g: shirt/t-shirt/pants/other fabrication materials) to tackle climate change alongside solving economical issues.

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Expected impact of your idea on sustainable development

To commence, I am going to start with a group of 3 people targeted and 2 shoe vendors to help recycle the waste. The targeted user will be asked to collect some fashion waste they have, whilst the shoe vendors are going to convert the fashion waste into eco-friendly shoes. Then, my team and I (soon) will have the users interviewed about their financial history, particularly about most of the problems they challenged and what are their financial goals in the short-term and long-term. After that, they will be informed of some alternatives solution and step-by-step assistance to maximize achieving their goals. Besides, they will also be assisted for 3 months to evaluate their growth. The successful candidate will be those who can gain a 3% increase during that 3 months with the most healthy financial condition status. The moderate candidate will be those who can finance their simply daily needs and also reduce their consumptive allowance from the lesson learned they gained from the apps. Nonetheless, the minimum output from this idea is at least the targeted people can finance their daily needs, for instance : electricity or pulses by exchanging their fashion waste for money.

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Plans for implementation and sustainability

As this idea will become a part of socioenterprise project, so the financial resources have predominantly come from external funding, such as : grants, donations, and CSR funding. However, if we have achieved at least 1 million app downloaders, we could expand our alternative funding by charging some pop ads in our apps or broadcasting to our client database, and from the IPO (Initial Public Offerings) at the capital market. To make this idea happen, we need to collaborate with strategic partners, include : entrepreneurs in the related fields to help convert the waste into more valuable products, grabbers to help pick up the waste (if one day the demand is increasing), and influencers to promote and share this campaign to a broader network. Additionally, we also need to build relationships with some companies that support the start-up ecosystem, particularly in Indonesia/South East Asia.

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Your profile

My name is Raden Khairunnisa Thifal Nabila, 25-year-old-mom with two daughters. Currently, working as a track & trace agent for Livana Shoes and here are my backgrounds about my past work experience and the educational background as well : 1. Four years experiences in Business Partner of Go-Massage Powered by Go-Life (a subsidiary of Go-Jek Indonesia (2016-2020) with 80-92% achieved target and several outstanding achievements in talent recruitment, talent management, and increasing finished order 2. Four years of experiences as SPA Manager of Ayra Home SPA (2018-2022) 3. Passionate in entrepreneurship, women entrepreneur, women leader, psychology, home SPA, service industry, creative industry, creative economy, and sustainable entrepreneurship. PREVIOUS EDUCATION AIRLANGGA UNIVERSITY, Bachelor degree of Management Faculty of Economics and Business Universitas Airlangga (2021), GPA 3.55/4.00 Dec 2020 Won 2nd place in national academic competition about entrepreneurship KMI EXPO XI 2020 held by Ministry of Education and Culture of Republic of Indonesia and chosen as Best 30 from 2431 SMEs by Pertamina Foundation, PACIFIC INTERNATIONAL BEAUTY INSTITUTE, Diploma of CIDESCO International in Beauty and SPA Management (2020). My motivation to join this competition is because I aspire to share my idea with a broader network so it will have a more positive impact on society by declining the socioeconomic problems and environmental problems at the same time. Besides, I am also compassionate about doing women empowerment initiatives, particularly in every subject related to finance, circular economy, and entrepreneurship. For me, I personally perceive quality leaders as those who have high determination, are well-executed, and empower others by altering their weaknesses into strengths to achieve common goals. I believe by proposing ECOFINLIT as one of the alternative solutions can bring some fresh air that complex problems can be solved by combining interdisciplinary

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