Nigeria - Business creation project

Describe your project or startup in a few words

Yo Farm is a sustainable agricultural venture that aims to give perishables a longer life by processing them into other durable products and still preserving their nutrients.

01.01 Describe your project in more detail

Project YoFarm is a food processing venture that seeks to refine our thoughts on potatoes. Why Potatoes? Potatoes are considered to be one of the most nutritious vegetables alongside broccoli, carrots, and peas. Although potatoes are not so quick to rot as other vegetables, yet in their raw forms, they are semi-perishable vegetables that can only last up to four months under a controlled storage setting. What happens after four months? With controlled and efficient food processing technology, Yo Farm aims to transform these nutritious vegetables into a refined and off-the-shelf variety of flours, which can be suitable for baking, making swallows, and many more food recipes, thus making them more durable and providing food security. We aspire to get our potatoes directly from our farms and also liaise with other local farmers for a larger scale production capacity.

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

The main problem we are trying to solve is food insecurity.

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. Food Security 2. Hunger Reduction 3. More Nutritious Flour 4. Good Health 4. Affordability

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

This project is aimed at providing healthy food options for anyone who eats. In the same vein, we will work with farmers around us to help them establish a food security relationship, where they bring their potatoes for cash. In the long run, we will adopt other vegetable and fruit crops, thus introducing more options to the market and also helping more farmers.

01.05 When did you start working on your project?

2024-05-01

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.)

Partner One (Male) – An experienced farmer who specialises in root and tuber crops Partner Two (Female) – An undergraduate food science technologist from my university.

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?

l) Agriculture

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

The fact that this project provides a plan to help local farmers convert their perishable crops into cash while we do the processing makes it clear to me that these farmers can earn a living from their produce. Also, this project will create job opportunities for interested and qualified candidates.

02.02.01 My project contributes to the Zero hunger goal

7 - Strongly Agree

02.02.02 Zero hunger - Justification

Aside from the base idea of helping to strengthen food security, there will also be a charity plan (Yo Donors) where donors would be encouraged to finance a farm that would be used for charity purposes, which could end up being used to feed the poor, orphanages, disabled, and others.

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

6

02.03.02 Good health and well-being - Justification

Backed by the high nutritional content of sweet potatoes, we will ensure that our products retain these nutritional values, thus contributing to good physical and mental health.

02.04.01 My project contributes to the Quality education goal

3

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

3

02.05.02 Gender equality - Justification

From top to bottom, our hierarchical structure is designed to be inclusive, giving room for all genders to contribute to the growth of our organization and process.

02.06.01 My project contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

3

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

The operations of this startup are going to be more than a one-man directorship, therefore there would be decent work opportunities for all—as long as they are qualified to fill in the gap. Our supply chain and processing technology will also require experts. So, I see a lot of jobs being created.

02.09.01 My project contributes to the Industry innovation and infrastructure

2

02.09.02 Industry innovation and infrastructure - Justification

02.10.01 My project contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

3

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

4

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

4

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

7 - Strongly Agree

02.15.02 Life on land - Justification

My startup will greatly contribute to this goal by ensuring that our farmlands are reusable and also ensure that we plant trees each season to foster afforestation and restore the beauty of our dear planet.

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

2

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification

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.

2

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.

6

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

3

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

5

05.08 Justification

While there are existing products that look like what we envision, we are innovatively approaching the market by bearing in mind that the nutritional value of our product remains intact like its raw counterpart. Also, there are not many products in this line yet, giving us a safe place to land in the market.

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

My main potential competitors are Ayoola Foods and Potato King. The competitive advantage I have against them is that they are not popular products in the market. Therefore, I would be taking this opportunity to enact a disruptive marketing strategy—using high-end technology —that would help me to take over the market, and enable us to export our products to international markets.

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

Yes, I run a business where two females are among key decision-makers of six.