2.0Problem Statement

2.0 The agriculture sector remains a key contributor to the Nigerian economy and is widely accepted as the bedrock for sustainable growth in the future. There have been giant strides by successive political administrations and private sector to stimulate the sector through various interventions aimed primarily at de-risking the sector, improving access to finance and encouraging value chain integration.

However, the success of all these interventions is underpinned by sustainable yield at the last mile where we have mostly small holder farmers with limited access to sophisticated tools and technology. Therefore, interventions around improving core farming practices is still largely driven by the “extension officer” model.

AGRICULTURE

On the back of the mobile revolution, we are looking to;

Build simple, data driven model to be consumed via USSD channels that will enable improved standards across various basic farming practices to improve yield.

Most smallholder farmers as still unable to access finance from commercial banks because banks consider the high-risk nature of smallholder farm businesses as well as the high associated transaction costs in administering and monitoring the credit facilities for usually high number of rural farmers in very remote areas in Nigeria. We are looking at how technology can help us solve these problems, to enable the Bank increase funding to smallholder farmers in the most cost-efficient and risk reduction method possible.

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FASHION02

At the lower end of the fashion industry in Nigeria, most players are micro and small enterprises that run unstructured businesses that hinder both access to finance and markets needed to run their business. Also, there is still a low level of integration across the value chain meaning that the ability to leverage economies of scale will be hindered.

Most available solutions today focus on access to markets and issues around distribution, but the fundamental problems of finance, ease of sourcing inputs and equipment remain today and continue to impact the growth of this sector.

We are looking for ideas to help micro and small players in the fashion sub-sector structure themselves better to enable them to access the critical funding needed to sustain their businesses as well as a technology-based platform to drive tighter integration (both backward and forward) ensuring that players can have access to markets across the value chain, and not just end users. It should enable players seamlessly find vendors/suppliers of inputs, source equipment and other critical infrastructure/logistics.

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The lottery business in Nigeria is booming in Nigeria today with the number of punters steadily increasing. However, it remains a largely cash driven business though options to play via digital channels are available. Today, players still visit kiosks and agents to play the game therefore reducing the convenience of the experience. This is primarily as a result of the difficulty to ensure KYC – the ability to tie a ticket to a specific individual.

We are looking for start-ups with solutions on how to personalize the lottery playing process by ensuring that the identity of any customer who picks up a ticket can be verified and “locked” to ensure that pay outs go to the right winner every time. We will also consider ideas on how to drive more of the lottery business through digital channels.

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Although any technology could be cutting-edge in itself, the blueprint for success in the world of FinTech is amazingly simple. Customers are the major driver of any disruption in the fintech space. Fintechs have been able to leverage customer data to meet their known demands which the traditional banks and financial institutions failed to due to traditional models and legacy systems.

However, the survival game for the FinTechs cannot be complete without a deep understanding of the dynamics of customer behaviour. Customers don’t even know when their needs change. Ability to envisage these evolving needs with strong precision could be the game changer for FinTechs.

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FINTECH

Come up with solutions that feature smart identity management and real time analysis of consumer behaviour to solve customized problems for customers within the financial world.

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In Nigeria today, Comedians and Musicians are trying to increase their reach and exposure by hosting and organizing independent comedy and music shows in Nigeria and abroad. In addition, comedians and musicians are also taking their exposure and growth into their own hands by producing skits and making it available to the general public through social media platforms in order to meet the increasing demands for their contents.

Copyright infringement, piracy and difficulty in monetizing services has been the major challenges faced by the music industry in Nigeria. Consumers resident in the rural/inner cities cannot afford to attend these shows and the unavailability of internet access has made it difficult to access these contents on social media except through pirated CDs.

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ENTERTAINMENT05We are looking to develop ideas/solution that can help:

Block leakage of revenue for artists, actors and comedians with possible alternate revenue opportunities from generated contents while also ensuring that they get all royalties and payments due to them.

Ideas to develop alternative distribution channels that will enable low income earners and consumers in the rural/inner cities/nationwide access these contents