Nigeria - Startup under 3 years old

Describe your project or startup in a few words

The Connect Enterprise mobile app aims to comprehensively empower micro, small, and medium enterprises in Nigeria for sustainable success by connecting them with expert service providers, growth opportunities, and access to valuable market insights.

01.01 Describe your startup in more detail

Providentia Innovations Limited (PIL) is a dynamic consulting firm dedicated to empowering Micro, Small, and Medium Enterprises (MSMEs) in Nigeria and beyond. Our mission is to drive sustainable growth through innovative solutions and strategic guidance. PIL leverages cutting-edge technology and an extensive network of industry contacts to provide tailored business development services. Our flagship project, the Connect Enterprise (Connect E!) mobile application being developed, is designed to revolutionize the MSME landscape by offering a comprehensive platform that connects enterprises with essential resources, expert service providers, and growth opportunities. The app facilitates seamless project management, resource networking, and provides valuable market insights. By integrating these features, Connect E! aims to enhance operational efficiency, foster collaborations, and support data-driven decision-making, ultimately contributing to the sustainable success of MSMEs.

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

Micro, Small, and Medium Enterprises (MSMEs) in Nigeria face significant barriers to growth due to a lack of affordable and reliable product and service development support. They struggle to find and connect with qualified service providers, leading to inefficiencies and missed expansion opportunities. High costs, monopolistic consultancy practices, and the invisibility of quality talent further exacerbate these challenges. MSMEs often receive subpar service delivery and lack the financial resources to pay for high-quality support. These issues collectively hinder the ability of MSMEs to innovate, grow, and compete in the market. Providentia Innovations Limited's Connect E! mobile app addresses these problems by providing a comprehensive platform that connects MSMEs with vetted service providers, offering affordable consultancy and resource networking. The mobile app platform will foster an environment where MSMEs can thrive and contribute to the economic growth of Nigeria.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

The Connect E! mobile app will offer the following significant benefits to MSMEs: 1. Affordable Quality Services: Aggregates vetted service providers, reducing consultancy costs and ensuring high-quality support. 2. Enhanced Visibility and Networking: Improves visibility for service providers, and connects MSMEs with essential resources, suppliers, and collaborators. 3. Innovative Barter and Funding Solutions: Features a service exchange option to minimize cash flow requirements, along with curated business resources and a Funding Navigator. 4. Comprehensive Market Insights: Provides real-time data and analytics for informed decision-making and market insights for government agencies. 5. Seamless Project Management: Facilitates project initiation, team assembly, virtual meetings, and progress tracking, enhancing operational efficiency.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

The Connect E! mobile app is primarily designed to serve Micro, Small, and Medium Enterprises (MSMEs) in Nigeria seeking affordable, reliable, and comprehensive business development support to innovate, grow, and scale their operations. These enterprises include: Micro Enterprises: Small businesses with limited resources and budgets that need cost-effective solutions for growth. Small Enterprises: Businesses looking to expand their operations and improve efficiency through strategic guidance and access to high-quality service providers. Medium Enterprises: Established businesses aiming to scale further and require advanced project management, market insights, and networking opportunities. Additionally, the app benefits service providers by enhancing their visibility and connecting them with MSMEs in need of their expertise. Government agencies and market analysts also benefit from the app's comprehensive market insights, aiding in data-driven program planning and support services.

01.05 When was your company established?

2024-03-08

01.06 Are you already selling your product/service?

No

01.07 How many other owners are there within your startup?

1

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Jubilee Adeoye, a Co-founder and the Chief Innovation Officer (CINO) of Providentia Innovations Limited (PIL) brings a wealth of skills and experience to the company. Jubilee is a seasoned engineer with extensive expertise in strategic consulting and business development. As a Senior Associate at Strategy&, a subsidiary of PwC, he has demonstrated proven leadership and strategic insight. Jubilee excels in leveraging research and data analytics to drive exceptional business growth and innovation. His comprehensive understanding of market dynamics and ability to develop tailored solutions make him an invaluable asset to PIL. Jubilee's dynamic approach and commitment to excellence ensure that PIL continues to deliver innovative and impactful solutions to MSMEs, fostering their growth and success in the competitive business landscape.

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

http://providentiainnovations.com - Kindly note that our website goes live on the 21st of June, 2024

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

02.02.01 My startup contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification for my startup

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

4

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification for my startup

The Connect E! app offers a range of training and development resources for MSMEs, enhancing their skills and knowledge. This contributes to quality education and lifelong learning opportunities for business owners and their employees.

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

By ensuring equal access to business development resources and support, PIL's Connect E! app empowers women entrepreneurs and promotes gender equality within the business sector.

02.06.01 My startup contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

The Connect E! app facilitates the growth and sustainability of MSMEs, creating more jobs and promoting decent work. Thus, it supports economic development by helping businesses become more competitive and efficient. Further, it establishes decent work opportunities for the service providers offering expertise to MSMEs.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

The Connect E! app leverages advanced technology to improve access to business development services, fostering innovation and enhancing infrastructure for MSMEs. It also promotes sustainable industrialization by supporting the growth of small-scale enterprises.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

The Connect E! app provides MSMEs with affordable and reliable services, reducing economic disparities by enabling smaller enterprises to compete effectively with larger ones. It promotes inclusive economic growth across communities within Nigeria and helps reduce inequalities.

02.11.01 My startup contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

2

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

2

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

4

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification for my startup

PIL's Connect E! app facilitates collaborations and partnerships between MSMEs, service providers, and other stakeholders, promoting a networked approach to achieving sustainable development goals. This fosters synergies and collective efforts toward the SDGs.

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

4

06.02 The product/service represents an entirely new type of product/service.

7 - Strongly Agree

06.03 The product/service could be described as a new technology.

7 - Strongly Agree

06.04 The product/service is an improvement on an existing product or service.

2

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

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

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

2

06.08 Justification for my startup

The Connect E! mobile platform is a groundbreaking solution that uniquely offers comprehensive, end-to-end support for micro, small, and medium enterprises (MSMEs). Unlike online marketplace platforms like jiji.ng and jumia.com.ng, which focus on general product and service access, Connect E! addresses the specific challenges of MSMEs with tailored services. While many competitors in Nigeria’s business development space offer niche services, Connect E! stands out with its all-encompassing offerings through vetted, affordable, expert third-party providers. This innovative platform simplifies access to essential resources and enhances business growth with personalized support, making it indispensable for MSMEs. Additionally, anonymized business data from the platform can help government and other business development services refine their product and service offerings.

06.09 Competitive Analysis

Five main competitors for Providentia Innovations Limited (PIL) in Nigeria include FATE Foundation, Shecluded, Enterprise Development Centre (EDC), MSME Africa, and Seedbuilders. FATE Foundation offers general entrepreneurial training but lacks PIL’s Connect E! Platform’s tailored services like barter features and project launch tools. Shecluded focuses on financial services and training for women, while Connect E! provides broader business support, including tech integration and data synchronization. EDC offers educational resources and startup support through partnerships, whereas Connect E! includes real-time project management and vetted service providers. MSME Africa offers news and resources but Connect E! facilitates practical business operations and growth. Seedbuilders focuses on incubation and paid tech support, while Connect E!’s features support MSMEs throughout their lifecycle. Connect E! exceeds competitors by offering a holistic, tech-advanced platform for MSMEs.

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

Yes, we are taking action to promote the role of female entrepreneurs within our community. On a personal level, I have recently offered free consultations to women within my business network, guiding them on monetizing their skills through Etsy e-commerce. Further, our Connect E! platform is being designed to be inclusive and supportive of female entrepreneurs alongside their male counterparts, offering tailored resources and support to help them thrive in the competitive business environment. These efforts reflect our commitment to fostering gender equality and promoting the success of female entrepreneurs.