Tanzania - Startup under 3 years old

Describe your project or startup in a few words

We’re a pioneering Tanzanian mining startup focused on climate-driven exploration. Leveraging drones, AI, and magnetic sensors, we predict commercially viable mineral deposits more efficiently and cost-effectively. Our primary targets are Neodymium (Nd)

01.01 Describe your startup in more detail

We are the first climate-driven Tanzania mining early stage startup . We are using drones,AI and magnetic sensors to fast track the mineral explorations by quickly and far accurately predicting areas with commercially viable minerals deposits in more efficient and cost-effective ways.We have targeted two minerals that share many other geological and geochemical factors, magnetic properties as well as the business demand in the world due to its scarcity. The two minerals are Neodymium (Nd) and Nickel (Ni) at an efficiency from 85-100% in 5-10 Km underground. 1.1 Our Vision We aspire to be a leading rare mineral exploration company delivering value creation that drives green energy transition to our shareholders in East Africa and beyond. 1.2 Our Mission Fast-tracking mineral exploration efficiency in order to provide critical minerals for energy transition.

01.02 What is the main problem you are trying to solve?

The mining and primary resource extraction sector is an extremely asset-intensive industry, where the continuous and reliable operation of large physical equipment is a key part of revenue generating activities. There are millions of dollars wasted on mineral exploration and the failure rates are incredibly high. The world is already in demand for over 500% of rare minerals due to the high demand to create electric cars, trains, solar panels and wind turbines. Conventional exploration techniques usually rely on substantial geological field work including dense in-site sampling with long delays until provision of analytical results. However, this approach is limited by land accessibility, financial status, climate and public opposition. Unfortunately, their occurrence in nature is rare, and finding them is often extremely challenging geologically, environmentally taxing, slow, complex processes and always leaving social stigma in surrounding habitats.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

Nyika Ventures innovation is boosting critical survey efficiency and on-site safety while reducing costs and time by more than 30% of capital. That is done via reducing quarry and mining operations costs time and risks over terrestrial-monitoring methods. Our hybrid innovation helps mining companies be more efficient and increase their return on investment (ROI) by providing accurate and high-precision data—quickly without more than highly trained staff. Along with that, our company is providing a stronger possibility to be the first climate-smart mining venture in East Africa while minimising project cost, schedule time and potential harm to the environment. With the world’s most detailed geological data at your fingertips,you know you’re making the right decisions for yourself and for the development partners. Drones have the potential to provide non-invasive and eco-friendly platform from which the environmental impact of exploration and mining activities such as soil erosion, acid

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

1. Mining Companies: Struggling with the high costs (millions wasted annually) and inefficiency (failure rates incredibly high) of traditional exploration, 85-100% accuracy in pinpointing valuable deposits within 5-10 kilometers underground offers a significant advantage. Nyika Venture can help them streamline exploration, reduce risk, and unlock Tanzania's mineral wealth. 2. The Global Community: Demand for REEs like Neodymium and Nickel is critical for clean energy technologies, but current extraction methods are unsustainable. By providing a more efficient and environmentally friendly exploration method, Nyika Venture contributes to achieving the UN's sustainable development goals. This benefits everyone concerned with the energy transition and responsible mineral sourcing.

01.05 When was your company established?

2022-02-27

01.06 Are you already selling your product/service?

No

01.07 How many other owners are there within your startup?

4

01.08 Among the other owners, how many are female?

4

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Nyika Venture boasts a diverse leadership team with a compelling 8:2 split, featuring six ladies and two men.These young leaders, 60% final year student and 40% graduates from last year's university classes, bring a powerful combination of technical expertise and fresh perspectives. Geoscientists (2): Experts in mineral exploration and Tanzania's geology, guiding exploration strategies and data interpretation. AI Guru (2): Develop and implement our innovative drone-based exploration methods, aiming for 85-100% accuracy. Business & Sustainability (2): Ensure commercial viability and responsible practices, including securing millions in investment. Drone Pilot (2): A highly skilled professional with extensive experience in operating drones for data collection.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://www.linkedin.com/in/nyika-venture-5b5715285/

01.11 Which industry best describes your project?

a) Energy (equipment, services, sustainable energy and fuel)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Absolutely, Nyika Venture can contribute to the UN's No Poverty Goal (SDG 1). Here's how: 1. Our growth creates high-tech jobs in Tanzania (geoscience, AI, robotics, drone piloting) empowering individuals and families. 2. Faster, more efficient exploration can boost Tanzania's economy, leading to increased government revenue for social programs. 3. Minimising negative impacts through sustainable exploration allows communities to benefit from resources without suffering hardship.

02.02.01 My startup contributes to the Zero hunger goal

3

02.02.02 Zero hunger - Justification for my startup

N/A

02.03.01 My startup contributes to the Good health and well-being goal

3

02.03.02 Good health and well-being - Justification for my startup

N/A

02.04.01 My startup contributes to the Quality education goal

4

02.04.02 Quality education - Justification for my startup

N/A

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

Leading by example with a phenomenal 80% female founders, Nyika Venture champions gender equality. We empower aspiring women entrepreneurs through mentorship programs, connecting them with our experienced founders for invaluable guidance. Our commitment extends to the community, where workshops equip women with the skills they need to succeed in business and mining technology. Furthermore, scholarships and grants specifically target female entrepreneurs, removing financial barriers and fostering a thriving generation of women leaders in Tanzania's business ecosystem.

02.06.01 My startup contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification for my startup

N/A

02.07.01 My startup contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification for my startup

Nyika Venture indirectly contributes to SDG 7 (Affordable & Clean Energy) by finding critical minerals for renewable energy technologies. Our efficient exploration helps reduce mining's environmental impact, promoting a more sustainable future.

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Absolutely! Nyika Venture contributes to SDG 8 (Decent Work & Economic Growth) through job creation. Our growth can create hundreds of new high-tech jobs in Tanzania (geoscience, AI, robotics, drone piloting). This empowers individuals and families, fostering economic growth.

02.09.01 My startup contributes to the Industry innovation and infrastructure

3

02.09.02 Industry innovation and infrastructure - Justification for my startup

Nyika Venture tackles all aspects of SDG 9. Our drones minimize infrastructure disruption, while our efficient and sustainable exploration fosters a responsible mining industry. We create hundreds of high-tech jobs in Tanzania, promoting inclusion. Furthermore, our innovative technology disrupts the sector, paving the way for a sustainable future.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

yika Venture tackles inequality through economic empowerment. Hundreds of high-tech jobs in Tanzania uplift local communities. We go beyond jobs, investing in skills development through training programs. Additionally, a share of our success translates into community investment, benefiting those previously overlooked. This focus on economic opportunity, skills development, and community well-being helps bridge the gap and create a more inclusive future for Tanzania.

02.11.01 My startup contributes to the Sustainable cities and communities goal

2

02.11.02 Sustainable cities and communities - Justification for my startup

N/A

02.12.01 My startup contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

Nyika Venture champions responsible consumption and production. Our drone tech minimizes land disruption (compared to traditional methods) and reduces waste. This, along with a focus on efficiency (saving companies time and resources), translates to less energy consumption (fewer vehicles) for a 20% potential reduction in the industry's environmental footprint. By using data-driven exploration, we avoid unnecessary resource extraction, promoting sustainability throughout the mining lifecycle.

02.13.01 My startup contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification for my startup

Yes, Nyika Venture contributes to SDG 13 (Climate Action) in two ways: 1. By minimising the environmental impact of exploration compared to traditional methods, Nyika Venture can significantly reduce greenhouse gas emissions and land degradation associated with mining (target millions of tons less CO2). 2. Nyika Venture focuses on finding Neodymium and Nickel, crucial for electric vehicles and solar panels. This supports the shift to clean energy technologies, mitigating climate change.

02.14.01 My startup contributes to the Life below water goal

4

02.14.02 Life below water - Justification for my startup

N/A

02.15.01 My startup contributes to the Life on land goal

4

02.15.02 Life on land - Justification for my startup

N/A

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

1 - Strongly Disagree

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

N/A

02.17.01 My startup contributes to the Partnerships for the goal

5

02.17.02 Partnerships for the goal - Justification for my startup

Nyika Venture thrives on collaboration to achieve the SDGs. Partnering with government agencies (like Tanzania's Ministry of Minerals) ensures responsible mining practices, aligning with SDG 17. We believe transparency and ethical sourcing are key. Additionally, by working with local communities (SDG 17), we minimize disruption and ensure mutual benefit, fostering a sustainable future for all stakeholders.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

3

06.02 The product/service represents an entirely new type of product/service.

4

06.03 The product/service could be described as a new technology.

7 - Strongly Agree

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

7 - Strongly Agree

06.08 Justification for my startup

Nyika Venture stands out as a unique innovator. Our innovation disrupts mining with a positive ripple effect We disrupt traditional mining with: 1. Drone-powered exploration: Replacing land-based methods, our drones equipped with AI and magnetic sensors achieve an incredible 85-100% accuracy rate, saving mining companies millions. 2. Minimizing environmental impact through reduced land disruption, lower emissions, and less waste. This unique blend of efficiency and sustainability positions Nyika Venture as a leader, revolutionizing the mining industry for a greener, more prosperous future.

06.09 Competitive Analysis

Nyika Venture isn't just about efficiency; it's about a sustainable and data-driven future for mineral exploration. This combination of technological innovation and environmental responsibility positions you as a strong contender in the market. While Nyika Venture operates in a niche market, there are potential competitors to consider: 1. Established Exploration Companies who offer traditional exploration services using geophysical surveys, drilling, and core sampling. 2. Other startups might be developing drone-based exploration technology, but they may not be as advanced or focused on AI and sustainable practices.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?

Nyika Venture, led by a remarkable 80% women founders, is not only a thriving startup but also a champion for female entrepreneurs in Tanzania. We see ourselves as role models, inspiring others through our achievements. By offering mentorship programs, Nyika Venture connects our experienced founders with aspiring women entrepreneurs, providing them with invaluable guidance and support. We don't stop there - our commitment extends to the community through workshops where we share our expertise in business and cutting-edge mining technology. Nyika Venture is even paving the way for future female leaders by offering scholarships and grants, empowering women to launch or grow their businesses and take their rightful place in Tanzania's entrepreneurial ecosystem.