Kenya - Business creation project

Describe your project or startup in a few words

East Cooperative Society empowers youth through the Shamba Project, which generates income and employment via livestock and crop farming, and a Loan Project, funding innovative ideas. We aim to expand with ChamaSmart, a digital platform for financial mana

01.01 Describe your project in more detail

The East Cooperative Society, formed by five high school classmates, focuses on innovative projects to support both members and the community. Our flagship initiative, the Shamba Project, involves livestock and crop farming to generate income and employment opportunities. Additionally, our Loan Project aids youths with innovative ideas, lacking traditional bank loan access. We plan to expand through ChamaSmart, a digital platform managing group finances, project funding, and integrating a crypto wallet for youth appeal. This scalable model aims for sustainable returns and fosters economic growth and community development.

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

The main problem we are addressing is the lack of economic opportunities and financial support for young people in our community. Many youths, despite having innovative ideas and completing their education, struggle to find employment and access capital to start their ventures due to stringent bank loan requirements. This results in high unemployment rates and stifles potential entrepreneurial growth. Additionally, there is a need for better financial management tools for small groups and cooperatives to organize their resources effectively. By launching the Shamba Project and the Loan Project, and developing the ChamaSmart platform, we aim to create jobs, support entrepreneurial endeavors, and provide efficient financial management solutions, thereby fostering economic empowerment and community development.

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. Economic Empowerment: Our projects create employment opportunities through the Shamba Project and support entrepreneurial ventures via the Loan Project, helping young people to generate income and achieve financial independence. 2. Financial Accessibility: ChamaSmart provides an accessible platform for small groups and cooperatives to manage their finances efficiently, raise funds for projects, and access capital, which is often difficult through traditional banking systems. 3. Innovation and Growth: By integrating a crypto wallet into ChamaSmart, we attract tech-savvy youth and offer modern financial tools, promoting innovation. This digital solution allows for scalable growth, reaching a wider audience and maximizing impact on the community.

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

Our project primarily targets young people in our community who face challenges in securing employment and accessing capital for their entrepreneurial ideas. This includes recent graduates and individuals with innovative concepts who are unable to obtain traditional bank loans. Additionally, our project serves small groups and cooperatives seeking effective financial management tools to organize their resources and raise funds for their initiatives. By focusing on these groups, we aim to foster economic empowerment, provide opportunities for self-reliance, and drive community development. Our initiatives also extend to the broader community by creating jobs, supporting local agriculture through the Shamba Project, and contributing to overall economic growth.

01.05 When did you start working on your project?

2021-05-10

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

8

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.)

Julius Mwangi (CEO): Business IT student, providing leadership and tech expertise. Rose Muthoni: Statistics/economics student, offering analytical and financial skills. Felister Mbithe: Group secretary, ensuring smooth operations. Phylise Wangoto: Accountant, managing finances. Geoffrey Maina: Electrical engineer, leading the Shamba Project. Derrick Githinji: Hospitality student, overseeing projects. Gideon Wandai: NYS member, contributing leadership. Phylise Wangoto: Accountant, ensuring financial health.

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?

Other: Community service , Material and IT

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

Our startup contributes to the goal of eradicating poverty by creating sustainable employment opportunities through projects like the Shamba Project and providing financial support to young entrepreneurs. By generating income and fostering economic empowerment within our community, we aim to uplift individuals and families, thereby reducing poverty levels and promoting financial stability.

02.02.01 My project contributes to the Zero hunger goal

7 - Strongly Agree

02.02.02 Zero hunger - Justification

Our startup directly addresses the goal of zero hunger by implementing the Shamba Project, which focuses on farming livestock and crops. Through sustainable agricultural practices, we aim to increase food production locally, ensuring a steady supply of nutritious food to our community. Additionally, by providing employment opportunities in agriculture, we contribute to food security and access, ultimately working towards the eradication of hunger.

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

6

02.03.02 Good health and well-being - Justification

Our startup contributes significantly to promoting good health and well-being in our community. Through the Shamba Project, we promote access to fresh, nutritious food, which is essential for maintaining healthy lifestyles and preventing malnutrition-related illnesses. Additionally, by providing employment opportunities and financial support through our Loan Project, we empower individuals to access healthcare services and improve their overall well-being. Furthermore, our initiatives foster a sense of community and social support, which are crucial for mental and emotional health. Overall, our efforts contribute to creating a healthier and happier community.

02.04.01 My project contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification

Our startup contributes to quality education by investing in the educational advancement of our members and the wider community. We provide opportunities for skill development and knowledge sharing within our projects, enhancing the capabilities of individuals. Additionally, through the ChamaSmart platform, we aim to provide educational resources and training on financial literacy and entrepreneurship, empowering members to make informed decisions and pursue their educational goals. By fostering a culture of continuous learning and development, we contribute to the improvement of education standards and promote lifelong learning opportunities for all.

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

Our startup actively promotes gender equality by ensuring equal participation and opportunities for all members, regardless of gender. With three female members in key leadership and decision-making roles, we demonstrate our commitment to gender balance and inclusivity. We provide a supportive environment where women are encouraged to voice their ideas, contribute their skills, and take on leadership positions. Additionally, through initiatives like the Loan Project, we prioritize supporting female entrepreneurs and empowering them to pursue their business ventures. By championing gender equality within our startup, we contribute to breaking down barriers and promoting a more inclusive and equitable society.

02.06.01 My project contributes to the Clean water and sanitation goal

7 - Strongly Agree

02.06.02 Clean water and sanitation - Justification

Our startup contributes to the goal of clean water and sanitation by promoting sustainable agricultural practices through the Shamba Project. By employing efficient irrigation methods and responsible water management techniques, we minimize water wastage and ensure the conservation of this vital resource. Additionally, we prioritize maintaining clean and hygienic facilities within our projects, promoting sanitation and health among our members and the wider community. Through these efforts, we strive to support the availability and sustainable management of water resources, contributing to improved access to clean water and sanitation for all.

02.07.01 My project contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification

Our startup contributes to affordable and clean energy by integrating sustainable practices into our operations. In the Shamba Project, we explore renewable energy sources like solar power for irrigation and farm operations, reducing reliance on fossil fuels and lowering energy costs. Additionally, we promote energy efficiency measures across our projects, such as using energy-efficient appliances and practices to minimize energy consumption. By demonstrating the feasibility and benefits of clean energy solutions, we contribute to the transition towards a more sustainable and affordable energy future for our community and beyond.

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

Our startup actively contributes to decent work and economic growth by creating employment opportunities and supporting entrepreneurship within our community. Through initiatives like the Shamba Project and the Loan Project, we provide avenues for individuals to earn a living and pursue their business ventures. By generating income and fostering economic empowerment, we contribute to reducing unemployment rates and promoting sustainable economic growth. Additionally, by investing in skill development and education through our projects, we equip individuals with the tools they need to succeed in the workforce and contribute to the economy. Overall, our efforts aim to create a thriving economy where everyone has access to decent work and opportunities for advancement.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Our startup contributes to industry innovation and infrastructure development by introducing novel solutions and leveraging technology to improve efficiency and effectiveness. Through projects like the Shamba Project and the development of the ChamaSmart platform, we promote innovation in agriculture, finance, and digital technology. We integrate modern farming techniques, such as precision agriculture and renewable energy, to enhance productivity and sustainability in the agricultural sector. Additionally, ChamaSmart offers a digital platform for financial management and entrepreneurship, fostering innovation in financial services and empowering small groups and cooperatives. By investing in infrastructure and technology, we lay the foundation for future growth and development, driving innovation and progress in our industry and community.

02.10.01 My project contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification

Our startup contributes to reducing inequalities by providing equal opportunities and access to resources for all members of our community, regardless of background or socioeconomic status. Through initiatives like the Shamba Project and the Loan Project, we empower individuals, including women and marginalized groups, to participate in economic activities and pursue their aspirations. By prioritizing inclusivity and diversity within our team and projects, we create a supportive environment where everyone has a voice and can contribute to decision-making processes. Additionally, our efforts to promote financial literacy and entrepreneurship through the ChamaSmart platform help bridge the gap between different socioeconomic groups, enabling more people to participate in economic growth and development. Overall, our startup strives to create a more equitable society where everyone has the opportunity to thrive and succeed.

02.11.01 My project contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

02.11.02 Sustainable cities and communities - Justification

Our startup contributes to sustainable cities and communities by promoting local economic development and responsible resource management. Through initiatives like the Shamba Project, we encourage sustainable agriculture practices that minimize environmental impact and support the long-term health of our community. Additionally, by providing employment opportunities and financial support to local entrepreneurs, we stimulate economic growth and contribute to the overall prosperity of our city. Furthermore, our ChamaSmart platform facilitates community engagement and collaboration, enabling residents to participate in decision-making processes and contribute to the development of sustainable solutions for our city's challenges. Overall, our efforts aim to create a more resilient and inclusive community that prioritizes environmental stewardship and economic prosperity.

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

Our startup promotes responsible consumption and production by implementing sustainable practices across our projects. In the Shamba Project, we prioritize organic farming methods and efficient resource use to minimize waste and environmental impact. Additionally, our ChamaSmart platform facilitates transparent supply chain management and encourages responsible consumer behavior by promoting local, eco-friendly products. By raising awareness and providing tools for sustainable consumption and production, we contribute to reducing waste, conserving resources, and fostering a culture of environmental responsibility within our community.

02.13.01 My project contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification

Our startup actively contributes to climate action by implementing environmentally sustainable practices across our projects. Through initiatives like the Shamba Project, we prioritize regenerative agriculture techniques and renewable energy solutions to reduce carbon emissions and mitigate climate change effects. Additionally, by promoting eco-friendly practices and providing education on climate issues through our ChamaSmart platform, we raise awareness and inspire action within our community. By integrating climate-conscious strategies into our operations and advocating for sustainable practices, we strive to be part of the solution in addressing climate change and creating a more resilient future.

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

Our startup contributes to preserving life below water by implementing sustainable practices in our agricultural projects. Through the Shamba Project, we prioritize water conservation and pollution prevention measures to protect aquatic ecosystems and marine life. By promoting responsible farming practices and minimizing chemical inputs, we aim to reduce the impact of agricultural runoff on water quality and marine habitats. Additionally, our ChamaSmart platform facilitates transparent supply chain management, ensuring that seafood sourced from our community adheres to sustainable fishing practices. By promoting awareness and implementing sustainable solutions, we strive to safeguard the health and biodiversity of our oceans and water bodies.

02.15.01 My project contributes to the Life on land goal

7 - Strongly Agree

02.15.02 Life on land - Justification

Our startup contributes to the preservation of life on land by promoting sustainable land management practices through our agricultural projects. With the Shamba Project, we prioritize soil conservation, biodiversity protection, and reforestation efforts to maintain healthy ecosystems and habitats for wildlife. Additionally, by integrating agroecological principles and organic farming methods, we minimize the use of harmful chemicals and pesticides, thereby reducing pollution and preserving the integrity of terrestrial ecosystems. Furthermore, our initiatives aim to raise awareness and educate our community on the importance of land conservation and biodiversity conservation, fostering a culture of environmental stewardship and ensuring the long-term health of our land and its inhabitants.

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

7 - Strongly Agree

02.16.02 Peace justice and strong institutions - Justification

Our startup contributes to peace, justice, and strong institutions by promoting transparency, accountability, and inclusivity in our operations. Through initiatives like the ChamaSmart platform, we facilitate transparent financial management and decision-making processes, ensuring that our members have equal access to information and opportunities. Additionally, by adhering to ethical business practices and fostering a culture of integrity and respect within our team, we contribute to building trust and strengthening institutions within our community. Furthermore, our projects aim to address social and economic inequalities, promote diversity and inclusion, and empower marginalized groups, thereby fostering social cohesion and contributing to peace and justice in our society.

02.17.01 My project contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification

Our startup actively promotes partnerships for achieving our goals by collaborating with various stakeholders, including government agencies, NGOs, and local communities. Through strategic partnerships, we leverage resources, expertise, and networks to maximize our impact and reach. For example, we partner with local agricultural cooperatives to access land and resources for the Shamba Project, and we collaborate with financial institutions to provide funding and support for our entrepreneurial initiatives. Additionally, our ChamaSmart platform fosters collaboration among small groups and cooperatives, enabling them to pool resources, share knowledge, and support each other's endeavors. By fostering partnerships and collaboration, we create synergies and amplify our efforts towards achieving our shared goals of sustainable development and community empowerment.

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

6

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

4

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

1 - Strongly Disagree

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

2

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.

1 - Strongly Disagree

05.08 Justification

The East Cooperative Society innovates by integrating agriculture, finance, and technology to address community challenges. Its holistic approach, youth-centric focus, and ChamaSmart platform for financial management and crowdfunding set it apart. Community engagement and transparent communication ensure alignment with local needs, fostering trust and ownership. This unique model empowers youth, promotes sustainability, and drives inclusive development.

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

Our main potential competitors include traditional financial institutions, microfinance organizations, and other cooperative societies. However, what sets us apart is our comprehensive approach to community development, integrating agriculture, finance, and technology. Unlike traditional competitors, we prioritize youth empowerment, innovation, and community engagement. Our ChamaSmart platform offers modern financial solutions tailored to the needs of young people, while initiatives like the Shamba Project provide sustainable employment and promote environmental stewardship. Additionally, our transparent communication and participatory decision-making processes foster trust and collaboration, distinguishing us as a socially responsible and community-driven organization.

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

Access to Funding and Resources: We prioritize providing female entrepreneurs with access to funding and resources through initiatives like the Loan Project. Female members with business ideas or existing ventures can apply for loans to finance their projects and access support and guidance from the cooperative's network of mentors and advisors.