Nigeria - Business creation project

Describe your project or startup in a few words

FarmCycle is a Middleman Start-Up Platform that aims to connect producers, wholesalers, suppliers of raw food items and agricultural produce, logistics or supply chain companies and consumers within the Agricultural supply chain.

01.01 Describe your project in more detail

FarmCycle is an online platform that connects producers, wholesalers and suppliers of raw food items and agricultural produce with logistics or supply chain companies and consumers. It facilitates a streamlined and efficient B2B and B2C marketplace for the agricultural sector, eliminating unnecessary middlemen.

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

The main problem I am trying to solve with this product are the following: Fragmentation in the Agricultural Supply Chain: The Agricultural supply chain is highly fragmented, with multiple intermediaries and a lack of direct communication between producers, wholesalers, logistics companies, and consumers. Limited market access for producers: farmers and food producers often have limited access to markets, restricting their ability to sell produce beyond local markets and achieve fair prices. Inefficiency in sourcing and Negotiation for wholesalers: wholesalers face challenges in sourcing and negotiating terms with multiple producers and suppliers. Challenges in Logistics and Supply Management: Coordinating logistics for agricultural produce is complex, with issues in managing freight, optimizing delivery routes, and tracking shipments Difficulty for consumers to Access Fresh Produce: Consumers often find it challenging to access fresh, high-quality produce.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

The major benefits of using this product are: Increased market access: Producers/Farmers gain access to a broader market, allowing them to sell their produce beyond local boundaries and achieve better prices. Enhanced efficiency in transactions: Streamlined process for listing products, placing orders, and negotiating terms, reducing time and effort, Improved coordination and efficiency in transportation management. Improved supply chain management of freight, optimized delivery routes and real-time traceability of produce and food items for all stakeholders. Convenience and quality for consumers: easy access to fresh, high-quality produce with the ability to browse, order, and track deliveries. Data-Driven Insights: Access to analytics and insights on sale performance, demand trends, and inventory turnover will assist producers/wholesalers and platform to continuously improve the platform and services offered. Reduced intermediary Costs Enhanced Negotiation Power

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The Beneficiaries are: Producers/Farmers: Increased market access, better prices, efficient inventory and order management etc. for: Higher income, reduced waste and better planning Wholesalers: Efficient sourcing and Negotiation, access to a diverse range of products, streamlined transaction processes for: cost savings, improved product availability, and better inventory management Logistics/Supply Chain Companies: optimized delivery routes, efficient freight management, real-time tracking and proof of delivery for: reduced operational costs, improved delivery times and quality service Consumers: Access to fresh produce, reliable order, tracking and quality assurance through ratings and feedback for: access to higher quality products and enhanced shopping experience Platform Operators: Ability to gather and analyze data, facilitate efficient transactions, and continuously improve the platform for: sustainable business growth, higher user retention & improved platform reliability

01.05 When did you start working on your project?

2024-01-01

01.06 How many other partners are associated with your business venture?

5

01.07 Among the other partners, how many are female?

2

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

Oyewole Yusuf Abimbola: Computer Science graduate with 2 years of experience in data analysis and a skills in BI, project management, digital marketing data science and AI. Okelola Kamolideen Olakunle Survey and Geo-Informatics graduate with 3 years of UI/UX design experience, GIS, project management and expertise in Public Speaking. Jamiu Abdullahi Akorede: A Cyber-Security Student and Full-stack software developer with strong skills in both front-end and back-end development. Oyelakin Abdullahi: A Physics electronics graduate with great writing skills, climate and renewable energy enthusiasm and aspirations in software engineering. Yusuff Mariam Akorede: Final Year mechanical engineering student with technical writing skills and interest in greenhouse food production and sustainable energy. Oyetunji Shukrah Omotolani: Final year information and technology engineering student and skilled web developer with a focus on creating robust web applications.

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

Nil

01.10 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

No Poverty (SDG 1) Increases farmer income, reducing poverty: By Providing framers with better market access and the ability to sell their produce at fairs prices, the platform helps increase their income and reduce poverty in rural areas.

02.02.01 My project contributes to the Zero hunger goal

7 - Strongly Agree

02.02.02 Zero hunger - Justification

Zero Hunger (SDG 2) Ensures efficient distribution and access to nutritious food: The Project facilitates efficient distribution of agricultural produce, reducing food wastage and ensuring that more people have access to fresh and nutritious food.

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

7 - Strongly Agree

02.03.02 Good health and well-being - Justification

Good health and Well-being (SDG-3) Enhances access to fresh produce, improving health: Improved access to fresh, high-quality produce enhances the nutritional intake of consumers, contributing to better health and well-being.

02.04.01 My project contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

Gender Equality (SDG 5) Gender equality and inclusiveness By having female partners and team members in my start-up to foster inclusive decision making and targeting female Farmers, Producers wholesalers and gender-neutral access to Fresh Produce.

02.06.01 My project contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Decent Work and Economic growth (SDG 8) Foster economic growth and supports decent work: By creating a more efficient agricultural supply chain, the platform fosters economic growth, provides decent work opportunities for farmers and supports small-scale food producers.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Industry Innovation and Infrastructure (SDG 9) Innovates agricultural supply chains: The Project leverages technology to innovate the agricultural supply chain, enhancing infrastructure for logistics and supply chain management.

02.10.01 My project contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification

Reduced Inequalities (SDG 10) Provides market access to small scale farmers: By giving small scale farmer access to larger markets and farm prices, the platform reduce inequalities in the agricultural sector

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Sustainable Cities and Communities (SDG 11) Supports sustainable urban food systems: Efficient Distribution and Reduced Food Wastage: Efficient distribution and reduced food wastage contribution to sustainable urban food systems and communities.

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

Responsible Consumption and Production (SDG 12) Reduces food wastage and supports sustainable practices: The startup promotes responsible consumption by reducing food wastage and encouraging the purchase of locally sourced produce, supporting sustainable agricultural practices.

02.13.01 My project contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification

Climate Action (SDG 13) Lowers emission through optimized logistics: Optimizing Logistics and reducing food wastage contribute to lower greenhouse gas emissions, supporting climate action efforts.

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

1 - Strongly Disagree

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification

Partnerships for the goals (SDG 17) Build partnerships for sustainable development: The startup contributes to this goal by fostering partnerships between producers, wholesalers, logistics companies, and consumers, aligning efforts to achieve sustainable development goals.

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

3

05.02 The product/service we envision creating represents an entirely new type of product/service.

5

05.03 The product/service we envision creating could be described as a new technology.

4

05.04 The product/service we envision creating is an improvement on an existing product or service.

5

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

7 - Strongly Agree

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

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

2

05.08 Justification

The Product Idea comes with the following features: User Management: User registration and profile creation for all user types Profile Customization to showcase information relevant to each user type (e.g. farm details, product offerings, logistic capabilities, etc) Secure login and access control based on user roles Product Listing and Discovery: Producers and wholesalers can list their products with details like type, quantity, price, seasonality, certifications (organic, fair trade, etc) Advanced search and filter options for consumers and logistic providers to find specific products based on location, price, type, and other criteria. Communication and Negotiation: Secure in-platform messaging system for users to communicate directly with each other. Offer negotiation tools for producers and wholesalers to negotiate prices with logistics providers or bulk buyers Logistic Management: By partnering with logistics providers or supply chain companies

05.09 Who are your main potential competitors and what makes you stand out from them?

My potential competitors are Foodstock farmers, Farmcrowdy, Tomato Jos and Winich Farms and we stand out from them because we have: Unique Value Proposition: Inventory management and forecasting, customer support automation, AI- driven personalized recommendations, and advanced logistic optimizations User Experience: focus on creating a seamless and user-friendly interface for all stakeholders. Comprehensive services: Provide end-to-end solutions that cover all aspect of supply chain Sustainability Focus: focused on sustainability practices and support for local farmers, appealing to environmentally conscious consumers and businesses. Strategic Partnership: Collaborate with Local Farmers and Producers Partner with Logistic Providers Engage with Consumer groups.

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

Yes, by partnering with female entrepreneurs and partners on this project.