Kenya - Business creation project

Describe your project or startup in a few words

Autofind is a groundbreaking platform that provides essential vehicle history reports, empowering consumers, insurance companies, and financial institutions with transparency to combat fraud and ensure informed car buying and financing decisions

01.01 Describe your project in more detail

Autofind addresses the pressing issue of transparency in the African automotive market, where rampant fraud due to lack of reliable vehicle information is a major concern. Our platform connects car buyers, insurance companies, and financial institutions with comprehensive vehicle history reports, including mileage records and incident history (theft, accidents, flood damage, etc.). By leveraging advanced data integration and analysis, Autofind ensures that all stakeholders have access to accurate and essential information, thereby reducing fraudulent activities and financial risks. This not only protects consumers but also builds trust in the automotive market, fostering a safer and more reliable car purchasing and financing environment. As Autofind succeeds, we aim to drive significant positive impact in the industry, supporting the growth and success of all involved parties.

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

Within the African market, the automotive industry faces a critical challenge characterized by a lack of transparency and reliable information during the car buying process. This issue holds true whether one is purchasing a car locally or from imports. Consequently, this lack of transparency has given rise to a surge in fraudulent activities, spanning from mileage fraud at its mildest to substantial financial losses for both individuals and financial institutions entangled in these transactions

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

Transparency and Trust: Autofind provides comprehensive vehicle history reports, offering crucial details on mileage, accidents, and other issues. This transparency reduces fraud and helps buyers make informed decisions, fostering trust in the car buying process. Risk Mitigation for Institutions: Insurance companies and financial institutions can access reliable data through us, allowing them to accurately assess vehicle quality and value. This reduces financial risks associated with undervalued or high-risk vehicles, ensuring better decision-making. Facilitation of Cross-Border Car Trade: Autofind aggregates data from various sources, creating a centralized vehicle information hub. This simplifies cross-border car trading in Africa, where data fragmentation often hinders trade, stimulating economic activity between African countries. By promoting the use of well-maintained used cars, Autofind contributes to environmental sustainability. Extending the life cycle of existing vehicle

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

1. Individual Car Buyers: Consumers looking to purchase used cars benefit from transparent vehicle history reports, enabling them to make informed decisions and avoid fraudulent transactions. 2. Insurance Companies: These institutions use Autofind's reliable data to assess vehicle quality and history accurately, aiding in risk assessment and premium calculation, thus mitigating potential financial losses. 3. Financial Institutions: Banks and loan providers utilize Autofind's comprehensive reports to determine accurate vehicle valuations, ensuring informed lending decisions and reducing the risk of defaults on car loans. 4. Car Dealerships and Traders: Dealerships can use Autofind to verify the authenticity of the vehicles they sell, enhancing their reputation and building trust with customers by providing transparent vehicle histories.

01.05 When did you start working on your project?

2023-05-01

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

5

01.07 Among the other partners, how many are female?

3

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

Maureen Ndereba: A versatile professional passionate about creativity and craftsmanship, Maureen founded SF Duka to craft exquisite wood decor and offer engaging workshops. As a software engineer from Moringa School, she leads Quality Assurance for AutoFind. Joshua Wandate: An experienced Credit and Operations Analyst with a strong background in financial services. Joshua's skills in Quantitative and Financial Statement Analysis, Operational and Credit Management, and enhancing operational efficiency and financial stability. Lilian Kabura: A skilled lawyer with a background in legal practice, Lilian ensures Geek House's compliance with laws and regulations. Esther Waweru: A talented software engineer experienced in developing and maintaining software solutions. Esther's technical skills are crucial for optimizing Geek House's products, including AutoFind, ensuring high-quality, reliable software. Nevile Hawala: An expert in Art Direction, Branding, and UI/UX Design.

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?

e) Secondary commodities (cars and parts, consumer durables and apparel, retail)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

02.02.01 My project contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification

While Autofind does not directly address hunger or food security, its impact on the automotive market can indirectly contribute to this goal. By promoting transparency and efficiency in the market, Autofind can help reduce financial burdens on individuals, potentially freeing up resources that can be allocated towards food and nutrition. Additionally, by facilitating economic activity through cross-border car trading, Autofind can contribute to economic growth, which is a key factor in reducing hunger and promoting sustainable agriculture.

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

Autofind's contribution to the Good Health and Well-being goal is significant. By providing crucial vehicle history reports, Autofind can help individuals make informed decisions when purchasing cars. This will lead to safer vehicles on the road, reducing the risk of accidents and injuries. Additionally, by promoting transparency in the automotive market, Autofind contributes to overall consumer well-being by ensuring that consumers are not misled or defrauded when buying cars. This can lead to a more trusting and healthier society overall.

02.04.01 My project contributes to the Quality education goal

4

02.04.02 Quality education - Justification

While Autofind does not directly address education, its impact on the automotive market can indirectly contribute to this goal. By promoting transparency and efficiency in the market, Autofind can help reduce financial burdens on individuals, potentially freeing up resources that can be allocated towards education. Additionally, by facilitating economic activity through cross-border car trading, Autofind can contribute to economic growth, which is a key factor in improving access to quality education.

02.05.01 My project contributes to the Gender equality goal

5

02.05.02 Gender equality - Justification

While Autofind does not specifically target gender equality, its impact on the automotive market can indirectly contribute to this goal. By promoting transparency and efficiency in the market, Autofind can help create a level playing field for all consumers, including women, when purchasing cars. Additionally, by facilitating economic activity through cross-border car trading, Autofind can contribute to economic empowerment, which is a key factor in achieving gender equality.

02.06.01 My project contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

2

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

Autofind contributes significantly to the Decent Work and Economic Growth goal by facilitating economic activity in the automotive market. By promoting transparency and efficiency in the market, Autofind helps create a fairer and more competitive environment, which can lead to increased economic growth and job creation. Additionally, by providing consumers with reliable vehicle history reports, Autofind helps reduce the risk of fraud and financial losses, which can contribute to a more stable and prosperous economy.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Autofind could contribute significantly to the Industry, Innovation, and Infrastructure goal by fostering innovation and improving infrastructure in the automotive market. By providing consumers, insurance companies, and financial institutions with reliable vehicle history reports, Autofind promotes innovation in the way car purchases are made and financed. Additionally, by creating a centralized hub for vehicle information, Autofind helps improve infrastructure in the automotive market, making it more efficient and transparent.

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

6

02.11.02 Sustainable cities and communities - Justification

Autofind's contribution to the Sustainable Cities and Communities goal is notable, particularly in promoting the sale of used cars. By providing transparent vehicle history reports, Autofind encourages consumers to consider purchasing used cars, which helps extend the lifespan of vehicles. This reduction in the demand for new cars contributes to lower carbon emissions associated with manufacturing new vehicles. Additionally, promoting the sale of used cars supports a circular economy by reducing waste and conserving resources. These factors contribute significantly to making cities and communities more sustainable, inclusive, and resilient.

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

Autofind promotes responsible consumption and production patterns by encouraging the purchase of used cars. By providing transparent vehicle history reports, Autofind helps consumers make informed decisions, leading to the purchase of pre-owned vehicles. This promotes a circular economy by extending the lifespan of vehicles and reducing the demand for new car production. Additionally, Autofind's role in facilitating cross-border car trading can further enhance the sustainability of consumption and production patterns by promoting the reuse and recycling of vehicles.

02.13.01 My project contributes to the Climate action goal

5

02.13.02 Climate action - Justification

While Autofind's primary focus is on the automotive market, its impact on promoting the sale of used cars indirectly contributes to the Climate Action goal. By providing transparent vehicle history reports, Autofind encourages consumers to consider purchasing used cars, which helps reduce the carbon footprint associated with manufacturing new vehicles. Additionally, promoting the sale of used cars supports a circular economy by reducing waste and conserving resources. While these contributions are significant, they are indirect and may not directly address the urgent action needed to combat climate change.

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

5

02.15.02 Life on land - Justification

While Autofind's primary focus is on the automotive market, its impact on promoting the sale of used cars indirectly contributes to the Life on Land goal. By providing transparent vehicle history reports, Autofind encourages consumers to consider purchasing used cars, which helps reduce the demand for new car production. This can help reduce pressure on terrestrial ecosystems, forests, and biodiversity by minimizing habitat destruction and resource extraction associated with new car manufacturing. Additionally, promoting the sale of used cars supports a circular economy by extending the lifespan of vehicles and reducing waste.

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

4

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

Autofind actively promotes partnerships for sustainable development by collaborating with various stakeholders in the automotive industry, including consumers, insurance companies, financial institutions, and regulatory bodies. By providing transparent vehicle history reports, Autofind fosters trust and cooperation among these stakeholders, creating a more collaborative and inclusive automotive market. Additionally, Autofind's role in facilitating cross-border car trading promotes partnerships between countries and regions, contributing to global efforts for sustainable development.

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.

1 - Strongly Disagree

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

3

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

7 - Strongly Agree

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

4

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.

3

05.08 Justification

The concept of providing car data reports to individuals and institutions is not new, as evidenced by companies like CarVertical. However, in our region, there is a gap in this service. Existing websites lack local payment options, offer poor support, and often lack SSL which is very worrying since most use card for payments. In addition, once cars enter our country (or any other country in Africa), their history becomes a mystery, as there are no companies or government institutions providing this data locally. This lack of information makes buying a used car locally risky, and purchasing from neighboring countries is even more challenging due to the lack of easily accessible information, requiring physical presence for verification, which is often impractical.

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

Our main potential competitors include companies like CarVertical that offer similar car history report services globally. However, what sets us apart is our focus on the local market, addressing specific challenges such as the lack of local payment options, poor customer support, and the inadequate security on existing websites. Additionally, while competitors may offer comprehensive reports for cars in their respective regions, our service fills a critical gap by providing this information for cars within our region. This local focus allows us to provide up-to-date and relevant information for consumers and businesses in our area, giving us a competitive edge in a market where such services are currently lacking.

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

Yes, we are actively promoting the role of female entrepreneurs within our community. With half of the founders of Autofind being women, we ensure that our company culture supports and highlights their contributions.