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.
LocalTech: Market for Local Products
Explain your idea in details:
Approximately 3.5 million Nepalese which is around 14% of the total population are working primarily in Malaysia, India, and other gulf countries. Although rich in its unique culture, tradition, products, and resources, people are bound to work abroad to sustain their livelihood as the nation incurs a whopping poverty rate of 20.5 %. Meanwhile, those people with the determination of doing something in their nation by selling their local products or services, are facing different issues like poor transportation to supply their products/services, inadequate market with low supply chain, low returns, etc. LocalTech: solution of two main problems:- unemployment and lack of market for local products. LocalTech is an application that aims to minimize the bridge between the supply and market of local products/ services thereby employing the locals and reducing the abroad working trends. Handicrafts, handmade garments, medicinal herbs, local foods, etc are some of the local products that are facing finding their real value in the market. Hence, our application LocalTech features the section of registration as sellers and customers which allows them to create their profiles. People registering themselves as sellers can list the available products along with its price. In the meantime, people registering themselves as customers can search for the required product(s) and buy the one as per their needs. So, LocalTech acts as a digital market for sellers and customers to trade local products and services helping to find the real value of the product and raising the economic status of locals. Through such an easy online transaction, it doesn't only solve unemployment but further aims to promote the local products into international level.
Expected impact of your idea on sustainable development
1. No poverty: LocalTech aims to create employment and provide job opportunities along with finding the real value and market of local products which ultimately reduces the poverty rate and increases the economic status of locals. 2. Good health and well-being: We believe that the local foods and medicinal herbs as local products carry their significance. Since LocalTech is a hub of sellers and customers, we aim to foster the sales of hygienic and homemade products to replace fast and junk food ensuring sound health. 3. Gender equalities: In the context of rural areas of Nepal, men are often engaged in income-generating activities meanwhile women are compelled to do housework chores. But, our app provides ample opportunities for marginalized women to earn their livelihood independently. 4. Partnership: We aim in the future for international cooperation to sustain our ecosystem in foreign countries. 5. Economic growth: Reducing imports and sustaining the needs through the supply of local products will impose a positive change in the national economy.
Plans for implementation and sustainability
Our business model is composed of customer segments, channels, and revenue streams. Sellers who sell their local products and services along with buyers who buy the local products and services are our customer segments through which we generate our income via the commission of sales. Along with commission, the advertisement of products on our application will be another source of revenue. In the initial stage, our revenue will be invested in marketing to make it known and accessible in every corner of Nepal. Social media, ambassadors, or any other media influences will be part of our marketing strategies. Website and mobile application are the channels through which people use our services. To determine the value of our service, we surveyed more than 5+ different districts out of which around 83% of people liked and intended to create their profile hinting about the sustainability and scalability of our idea.
I am an 18-year-old high school graduate from National School of Sciences, Nepal who is fond of thinking of innovative ideas and approaches to solve existing problems.No matter how much science and technology are turning impossibilities into possibilities, problems still avail in society which is often disregarded. And my passion lies in covering such underlying issues for a solution. Engaged in different clubs and organizations for more than four years, I am tech-enthusiastic aiming to blend technology and entrepreneurship to solve the problem in the best possible ways.