Kenya - Business creation project

Describe your project or startup in a few words

Mu$e is Here to Eliminate The Paper Chase and fuel more than 2.5M African creative freelancers with fast, digital cash flow. We seek to bridge the painful payment gap between freelancers & businesses with . #FinancialFreedom #CreativesUnite

01.01 Describe your project in more detail

African creatives are bursting with talent, but traditional banks just don't get the gig life. A recent FSD report found that 64% of creative freelancers have bank accounts, yet NONE accessed formal credit. Why? Because banks don't understand the unique rhythm of creative freelance hustle. That's where Mu$e steps in. We're Africa's first financial springboard designed for creatives. We're on a mission to empower the continent's 2.5 million gig workers with the financial tools they need to thrive. Forget the endless paperwork and frustrating delays. Mu$e is a fintech platform and marketplace built to bridge the payment gap between creative freelancers and corporate clients. We offer fast, digital cash flow solutions so that creatives can focus on what they do best – creating magic.

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

Africa's creative scene is exploding, with the continent's creative economy experiencing the fastest growth globally. However, despite this exciting development, a major hurdle remains for the individuals driving this success – creative freelancers. These talented individuals are ironically the most financially excluded segment within the creative economy. Our research highlights the critical nature of this issue. In conversations with 100 Kenyan creatives, a staggering 90% identified the uncertainty of payments as the single most frustrating aspect of freelance work. This constant worry about getting paid hinders their ability to focus on their craft, stifle growth, and ultimately hold back the entire creative industry. The disconnect is clear – a thriving creative landscape coexists with a system that fails to support the very people making it possible. This is where Mu$e steps in. We believe that financial security is the key to unlocking the full potential of Africa's creati

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

We're building Africa's first creative financing marketplace. It's a game-changer, connecting businesses with talented freelancers and unlocking smoother payments with tech, data, and smarter credit scoring. SOLUTION 1 Digital invoice factoring on pipeline of corporate brand partnership invoices (98% of the current market revenue). SOLUTION 2 Digital Milestone payment to enable businesses to gain greater control & increase transparency over creative projects through automated payments based on predefined milestone completion SOLUTION 3 Flexible insurance products that match the labor dynamics of freelance work. Coverage that protect them from income shocks. SOLUTION 4 Automatic savings feature to help take advantage of income surges SOLUTION 5 Freelancers who pass the eligibility screening can enter into a work-to-own arrangement with repayments automatically deducted from platform earnings. SOLUTION 6 Professional business health dashboard with mobile money payment

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

We have about 450000 diverse and digitally savvy Kenyan creative freelancers. They range from established photographers and graphic designers to budding social media influencers and code whizzes. Most juggle multiple projects, working remotely or collaborating in vibrant co-working spaces. Tech-adoption is high, with smartphones doubling as offices and social media a crucial marketing tool. Despite their talent and hustle, financial constraints are a major hurdle. Banks often view their work as unpredictable, making access to credit and working capital a constant struggle. This tech-enabled generation craves financial solutions that are fast, flexible, and understand the unique rhythm of their freelance lives.

01.05 When did you start working on your project?

2024-03-17

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. Moses Tizomu (Strategy): Ex-Antler & WPP Scangroup strategist. Unlocks challenges with cultural understanding, data, and tech. Brings experience with African giants (Safaricom, Coca-Cola) to empower creatives. 2. Allan Mwaniki (Growth): Creative leader fueled by big ideas. Ex-WPP & Africa Leadership Group. Leverages product marketing & tech for positive African impact. Watch his future revolutions (tweet, TikTok, Flutterwave?)! 3. Wendy Owino (CFO): Seasoned fintech pro (Cellulant). Manages Mu$e's finances with meticulous budgeting, investment strategies, and smooth cash flow. Strong analytical skills and integrity guide her in the startup world.

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

https://drive.google.com/file/d/1Iweny-8YE3eu7WxlhXA81_75ewFgRJZw/view?usp=sharing

01.10 Which industry best describes your project?

g) Financial services

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

Increased income potential: Mu$e tackles the financial exclusion freelancers face by providing immediate access to their earnings. Improved project flow: Mu$e's guaranteed payments and streamlined process encourage businesses to work with freelancers, leading to increased project opportunities and income for creatives. Reduced financial stress: Mu$e alleviates financial stress, allowing freelancers to focus on their work and contribute more effectively to the creative economy. Job creation and economic growth: A thriving creative sector fueled by financially empowered freelancers contributes to job creation. This overall economic growth translates to poverty reduction and improved livelihoods for many.

02.02.01 My project contributes to the Zero hunger goal

6

02.02.02 Zero hunger - Justification

While Mu$e doesn't directly address hunger, it indirectly supports the UN's Sustainable Development Goal (SDG) #2: Zero Hunger by empowering African creative freelancers, a significant portion of the informal economy. Here's how: Increased Income: Mu$e provides freelancers with faster access to earned income, allowing them to invest in their families' basic needs, including food security. Improved Livelihoods: Financial stability from Mu$e empowers freelancers to contribute more effectively to the creative economy. This economic growth benefits the entire community, including farmers, food vendors, and distributors. Ripple Effect: Supporting female entrepreneurs (common in the creative sector) strengthens their families' purchasing power, improving access to nutritious food. Mu$e's focus is financial empowerment, a key driver in achieving Zero Hunger. With increased income, better livelihoods, and a stronger local economy, Mu$e contributes to a future of African families.

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

6

02.03.02 Good health and well-being - Justification

A thriving creative sector fosters economic opportunities, which can indirectly translate to improved access to healthcare and overall well-being within the community. Reduced Financial Stress: Uncertain income and late payments can be a significant source of anxiety and mental strain for freelancers. By offering immediate access to earnings and a reliable cash flow system, Mu$e alleviates financial worry. This allows creatives to focus on their work and well-being, leading to improved mental health and a better work-life balance. Investment in Health: Financial stability empowers freelancers to invest in their overall health. They can afford nutritious meals, healthcare services, and gym memberships, leading to a healthier lifestyle. Improved Productivity: Reduced financial stress and the ability to focus on work can lead to increased productivity and a sense of accomplishment. This positive feedback loop can further contribute to mental well-being.

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

7 - Strongly Agree

02.05.02 Gender equality - Justification

While Mu$e doesn't discriminate based on gender, its focus on the creative sector, which has a high percentage of female entrepreneurs, indirectly contributes to gender equality by enabling women to thrive financially and become role models for other aspiring creatives. Closing the financial gap: Mu$e's platform levels the playing field by providing equal access to fast and reliable payments, regardless of gender. Promoting flexible work: Mu$e facilitates this flexibility by removing geographical and time constraints associated with traditional jobs, which can be particularly attractive to women with childcare responsibilities. Building confidence and leadership: Mu$e contributes to a more equitable creative industry where women are empowered to take on leadership roles and inspire future generations.

02.06.01 My project contributes to the Clean water and sanitation goal

3

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

Mu$e empowers creatives, a significant portion of the informal economy, to thrive. This fosters decent work opportunities, financial stability, and contributes to the overall economic growth of the continent – all key aspects of SDG #8. Bridging the Payment Gap: Mu$e eliminates the uncertainty of delayed payments fostering trust and businesses, encouraging more freelance work opportunities. Financial Security & Stability: By providing immediate access to earnings, Mu$e allows freelancers to invest in themselves (equipment, training). This empowers them to take on higher-paying projects and build sustainable careers. Boosting the Creative Economy: A financially secure creative workforce fuels the entire creative economy. More empowered freelancers translate to more creative projects, content creation, and innovation – driving economic growth. Formalization: Mu$e incentivizes freelancers to enter the formal economy

02.09.01 My project contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification

Mu$e directly tackles the 'Industry, Innovation and Infrastructure' SDG by building a digital infrastructure that bridges the gap between creative freelancers and businesses in Africa. Here's how: Tech-driven platform: Mu$e fosters innovation by utilizing technology to streamline financial transactions and communication within the creative sector. Improved Industry Efficiency: By facilitating faster payments and smoother project workflows, Mu$e increases overall efficiency and productivity within the creative industry. Infrastructure for Freelancers: Mu$e acts as a digital infrastructure for freelancers, connecting them with opportunities and providing financial tools, promoting a more robust creative ecosystem. In short, Mu$e leverages technology and innovation to create a more efficient and inclusive infrastructure within Africa's creative industry.

02.10.01 My project contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification

Mu$e tackles inequality in the creative economy by leveling the financial playing field for African freelancers. Traditionally excluded from traditional banking, freelancers face income instability and difficulty securing project opportunities. Mu$e bridges this gap by offering: Fast, reliable payments: Freelancers get paid immediately, eliminating dependence on slow client payments and enabling them to invest in their work. Reduced financial barriers: Mu$e simplifies access to financial tools, promoting financial inclusion for underserved creatives. Increased earning potential: With consistent income and lower financial stress, freelancers can focus on growth, leading to higher earning potential and a more competitive edge. By empowering freelancers, Mu$e fosters a more equitable creative landscape where talent, not financial limitations, determines success.

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Mu$e empowers African creative freelancers, a key driver of the informal economy in many cities. By enabling them to thrive financially: Increased creative output: Financially secure freelancers contribute more to the creative landscape, enriching communities with vibrant art, music, and design. Enhanced skills and innovation: Financial stability allows freelancers to invest in upskilling and explore new creative avenues, fostering innovation and a dynamic creative ecosystem within cities. Collaboration and community building: Mu$e can connect creatives, fostering collaboration and knowledge sharing. This strengthens the creative community, a vital social fabric within sustainable cities. Job creation: A thriving creative sector attracts businesses and talent, generating new jobs and economic opportunities within cities. By empowering creative freelancers, Mu$e fosters a more vibrant, innovative, and economically robust environment, contributing to the UN's SDG #11

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

3

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

3

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

3

02.15.02 Life on land - Justification

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

3

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

4

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.

7 - Strongly Agree

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.

6

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.

7 - Strongly Agree

05.08 Justification

Mu$e combines financial solutions, technology, and an understanding of the creative industry to address a critical gap in the market. It also stands out as a unique innovation in the African market (first of its kind) by addressing a specific pain point for a growing demographic; creative freelancers and their financial exclusion. 1. Focus on the Creative Gig Economy: Existing financial solutions might not cater to the unique rhythm and project-based income of creative freelancers. 2. Data-Driven Approach: Many traditional financial institutions rely on rigid credit checks, which can disadvantage unbanked or underbanked creatives. Mu$e leverages alternative data sources and understands the creative workflow, enabling a more inclusive approach to financial services. 3. Tech-Enabled Platform: Mu$e leverages technology to provide a seamless user experience for both freelancers and businesses. 4. Community Building: It aims to foster a community for creatives freelancers

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

Mu$e's competitors can be divided into two main categories: 1. Traditional Financial institutions Banks: They might not cater to the project-based income and flexible working arrangements of creative freelancers. Microfinance Institutions (MFIs): MFIs can provide loans to unbanked or underbanked individuals 2. Fintech Platforms Freelance Marketplaces: Platforms like Upwork or Fiverr connect freelancers with clients globally. However, they might not offer financial services like cash advances or cater specifically to the needs of the African creative market. Mobile Money Platforms: Services like M-Pesa offer mobile wallets and basic financial services, but they might not have features specifically designed for managing project-based income or facilitating payments between freelancers and businesses. Payment Gateways: Platforms like Stripe or Paystack process online payments, but they may not offer loan options or cater specifically to the creative freelance market.

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

Yes, one of our co-founder is a woman. Most of my advisors and mentors so far have been women.