Nigeria - Business creation project

Describe your project or startup in a few words

AI-powered Virtual Try-on e-commerce at your fingertips, try on clothes, footwears and jewelries, share with friends, and buy what fits best!

01.01 Describe your project in more detail

Cinarel is An innovative mobile application an AI-powered image generation tool that allows users to try on clothes, footwears and jewelries virtually using Augmented Reality (AR) technology and AI, both customers and designers can generate designs of clothes by just providing the description of the kind of design and materials they want. Users upload a full-body photo, browse a virtual closet from vendors, and try on clothes, footwears and jewelries in 3D. They can adjust fit and style, share looks with friends, and purchase clothes, footwears and jewelries that fit perfectly including the design they generated on the app and place an order. The app aims to revolutionize online fashion shopping by reducing returns, increasing customer satisfaction, and providing a personalized shopping experience.

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

About 30% online fashion purchases are returned due to poor fit or mismatched expectations. - Physical try-on is time-consuming and limiting, leading to missed sales and customer frustration. There's this popular slangs with Nigerians "What I ordered vs what I got", meaning; what I got is not what I ordered for. And poor fitting and mismatch contributed to it. Basically we are trying to solve the following probles with Cinarel - Dissatisfied customers - Increased costs for retailers (return shipping, handling, and restocking) - Waste and environmental impact (returned items often end up in landfills) - Lost sales and revenue for retailers

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

1. Reduced Returns: Try on clothes virtually, reducing the likelihood of returns due to poor fit or mismatched expectations. 2. Increased Confidence: Make informed purchasing decisions, knowing exactly how clothes, footwears and jewelries fit and look on you. 3. Personalized Experience: Receive AI-powered recommendations based on your preferences, body type, and shopping history. 4. Time-Saving: Try on multiple outfits quickly and easily, without the need for physical try-on or waiting for deliveries. 5. Sustainability: Reduce waste and support eco-friendly fashion by minimizing returns and encouraging try-before-you-buy. 6. Access to Exclusive Content: Browse and interact with a vast collection of clothes, footwears and jewelries from vendors and designers. 7. Social Sharing: Share virtual try-on looks with friends and family for opinions and feedback. 8. Seamless Purchase: Buy clothes, footwears and jewelries that fit perfectly, with options for home delivery or in-store pickup.

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

1. Fashion Consumers: Individuals who purchase clothing online, particularly those who frequently experience issues with fit, sizing, or style. 2. Online Fashion Retailers: E-commerce platforms, fashion brands, and designers seeking to reduce returns, increase customer satisfaction, and enhance the online shopping experience. 3. Fashion Brands and Designers: Companies looking to showcase their products in an immersive and interactive way, increasing brand engagement and loyalty. 4. Sustainable Fashion Advocates: Individuals and organizations promoting eco-friendly fashion practices, reducing waste, and supporting environmentally responsible consumption. 5. Busy Professionals and Students: Individuals with limited time for physical shopping or trying on clothes, seeking a convenient and efficient online shopping experience. 6. Plus-Size and Petite Consumers: Individuals who often face challenges finding clothes that fit well, benefiting from the app's personalized try-on experience.

01.05 When did you start working on your project?

2024-04-29

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

2

01.07 Among the other partners, how many are female?

1

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

1. Favour Nwaoma - Chief Fashion Officer - Background: Favour is a seasoned fashion executive with 7+ years of experience in the industry. She has held leadership roles at top fashion brands, including Designer Lead and Fashion Director at Nello. - Skills: - Extensive knowledge of fashion trends, design, and merchandising - Proven track record of driving sales growth and brand expansion - Experience: - Led cross-functional teams to launch successful fashion collections and campaigns. - Education: Bsc. Business Administration 2. Charles Okafor - Background: Charles is a seasoned finance and business 5+ years of experience in investment banking, private equity, and startup leadership Skills: - Expertise in finance, fundraising, and strategic partnerships - Proven ability to drive growth and scalability in high-growth companies - Experience: Led investments and acquisitions in the fashion and tech spaces at top private equity firms - Education: Bsc. Economic

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

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

5

02.01.02 No poverty - Justification

Cinarel contributes to poverty reduction by: + Providing access to fashion for all, promoting inclusivity and equality + Offering entrepreneurial opportunities for fashion designers, influencers, and retailers + Encouraging sustainable consumption and responsible production patterns + Promoting digital inclusion and access to fashion regardless of geographical location or socio-economic status.l

02.02.01 My project contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification

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

1 - Strongly Disagree

02.03.02 Good health and well-being - Justification

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

5

02.05.02 Gender equality - Justification

Cinarel promotes gender equality by providing a platform for women and men to access fashion equally, without gender-based restrictions or biases.

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

6

02.08.02 Decent work and economic growth - Justification

Cinarel contributes to decent work and economic growth by providing opportunities for fashion designers, influencers, and retailers to showcase their products and services, potentially creating new job opportunities and revenue streams.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

The app strongly agrees with this goal, as it leverages innovative technologies like AR and AI to revolutionize the fashion industry, improving infrastructure and driving progress.

02.10.01 My project contributes to the Reduced inequalities goal

5

02.10.02 Reduced inequalities - Justification

Cinarel Providing equal access to fashion for all, regardless of gender, age, or ability - inclusivity and diversity in fashion, challenging traditional beauty standards - Offering a platform for underrepresented groups to showcase their designs and perspectives

02.11.01 My project contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

The app strongly agrees with this goal, as it encourages responsible consumption by reducing waste and supporting sustainable fashion practices, aligning with the goal's focus on sustainable production and consumption patterns.

02.13.01 My project contributes to the Climate action goal

5

02.13.02 Climate action - Justification

The App contributes to climate action by: - Reducing waste and supporting sustainable fashion practices - Encouraging responsible consumption and production patterns - Promoting digital try-on, reducing the need for physical samples and shipping - Supporting eco-friendly and environmentally responsible fashion brands and designers.

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

6

02.17.02 Partnerships for the goal - Justification

The app agrees with this goal, as it fosters partnerships between fashion brands, designers, influencers, and consumers, promoting collaborative 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.

7 - Strongly Agree

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

7 - Strongly Agree

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

7 - Strongly Agree

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

6

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

5

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 App is innovative and unique in the Africa market due to its pioneering use of AI and AR technologies, personalized approach, and sustainable fashion focus. By addressing the specific needs and challenges of the Africa market, our app has the potential to revolutionize online fashion shopping and drive economic growth in the region.

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

1. Online fashion marketplaces like Jumia and Konga, which offer a wide range of products but lack immersive try-on experiences and personalized recommendations. 2. Social media platforms like Instagram and TikTok, which offer fashion inspiration and community features but lack integrated try-on and shopping capabilities. What makes us stand out from them: 1. Personalized styling: Our AI-powered styling feature provides users with tailored fashion recommendations, setting us apart from competitors. 2. Sustainable fashion focus: Our app promotes eco-friendly and responsible fashion practices, appealing to environmentally conscious consumers. 3. Immersive try-on experience: Our AR technology offers a seamless and realistic try-on experience, enhancing user engagement and satisfaction. 4. Inclusive design: Our app caters to diverse body types, skin tones, and styles, making fashion accessible to a broader audience. 5. Social sharing and community features.

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

Yes, I am initiating actions within my community to promote the role of female entrepreneurs. Here are a few examples: - Mentorship programs: I'm establishing mentorship programs, pairing experienced female entrepreneurs with aspiring ones, to share knowledge, expertise, and support. - Networking events: Organizing regular networking events, workshops, and conferences, providing a platform for female entrepreneurs to connect, collaborate, and learn from each other. - Social media campaigns: Launching social media campaigns, highlighting the achievements and stories of female entrepreneurs, to inspire and empower others. - Access to resources: Facilitating access to resources, such as funding opportunities, training, and tools, to help female entrepreneurs overcome obstacles and grow their businesses. - Role models and ambassadors: Identifying and promoting role models and ambassadors who embody the spirit of female entrepreneurship, inspiring others to follow in their footsteps.