Nigeria - Startup under 3 years old

Describe your project or startup in a few words

MarketGrid provides affordable, reliable electricity through our AI-controlled solar micro-grids to empower small businesses within market clusters in Nigeria, promoting sustainable economic growth and environmental sustainability.

01.01 Describe your startup in more detail

MarketGrid, developed by Boost Power Technologies Ltd is a clean energy initiative aimed at solving the electricity challenges faced by small and medium-sized enterprises (MSMEs) in Nigeria. Our solar microgrids provide reliable, affordable, and sustainable energy using a Pay-As-You-Go model, enabling businesses to operate efficiently and extend their hours. Utilizing AI and IoT technologies, our microgrids optimize energy distribution and minimize maintenance costs. We also empower local entrepreneurs by providing them with the tools and support to establish and operate their own microgrids, fostering economic growth and environmental sustainability.

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

MarketGrid aims to address the limited access to reliable, affordable, and clean energy for over 37 million MSMEs in Nigeria. Many of these businesses rely on costly and polluting petrol generators, which can cost up to ₦500 daily, totaling ₦182,500 annually per business. This reliance hampers their growth and impacts their health. Our solution provides a sustainable alternative through solar microgrids, reducing dependency on fossil fuels, lowering operational costs by up to 40%, and enhancing business productivity. This shift not only improves economic outcomes for these enterprises but also contributes to reducing CO2 emissions by over 3,000,000 grams annually and fostering a healthier environment.

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

-Reliable and Affordable Energy: Our Pay-As-You-Go solar microgrids provide consistent and cost-effective electricity, reducing operational costs for MSMEs by up to 40%. -Environmental Sustainability: By leveraging solar energy, we reduce dependence on fossil fuels, cutting down CO2 emissions by over 3,000,000 grams annually and promoting a cleaner environment. -Economic Empowerment: Our solution boosts business productivity and revenue, enabling MSMEs to grow and invest in their communities. Additionally, we provide tools and training to local entrepreneurs to manage their own microgrids.

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

MarketGrid primarily serves small and medium-sized enterprises (MSMEs) in Nigeria, particularly those in market clusters and rural communities with limited access to reliable electricity. Our current beneficiaries include over 45 shop owners, small-scale manufacturers, and service providers who rely on consistent energy for their daily operations. We also aim to empower local entrepreneurs by providing them with the resources to establish and manage their own solar microgrids, thus expanding our impact and fostering community development.

01.05 When was your company established?

2023-02-22

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

2

01.08 Among the other owners, how many are female?

1

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

Esther Bamiduro, Co-founder and Head of Marketing, is a marketing expert and social impact leader. With a background as a former marketing manager at Bams Digital, she excels in community engagement and communications, ensuring our solutions reach and resonate with our target audience. Donaldson Okoye, Co-founder and Head of Operations, is an exceptional operations manager with a track record of success. He previously built and operated Fixbot, a vehicle diagnosis startup, showcasing his entrepreneurial spirit and operational acumen. Donaldson’s expertise ensures efficient and effective management of our microgrid operations.

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

https://www.linkedin.com/company/boostpowerafrica/ https://boostpower.co

01.11 Which industry best describes your project?

a) Energy (equipment, services, sustainable energy and fuel)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

MarketGrid helps reduce poverty by enabling MSMEs to access affordable and reliable energy, increasing their productivity and profitability by up to 40%. This economic empowerment allows business owners to improve their livelihoods, invest in education and healthcare, and create job opportunities within their communities, thereby lifting people out of poverty.

02.02.01 My startup contributes to the Zero hunger goal

6

02.02.02 Zero hunger - Justification for my startup

By providing reliable energy, MarketGrid supports agricultural businesses and food vendors in preserving and processing food, reducing spoilage by up to 30%, and increasing food security. This stability helps ensure a consistent food supply, contributing to the fight against hunger in our communities.

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

7 - Strongly Agree

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

MarketGrid reduces reliance on polluting petrol generators, cutting down harmful emissions by over 3,000,000 grams of CO2 annually and improving air quality. This leads to better respiratory health and overall well-being for community members. Additionally, our clean energy solutions support health facilities by providing reliable power for critical medical equipment.

02.04.01 My startup contributes to the Quality education goal

3

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

MarketGrid promotes gender equality by actively involving women in leadership and operational roles within our team. We also prioritize support for women-led businesses and entrepreneurs, providing them with access to clean energy solutions and business development resources, thereby empowering them economically and socially.

02.06.01 My startup contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification for my startup

MarketGrid directly addresses the need for affordable and clean energy by providing solar microgrids to MSMEs. Our Pay-As-You-Go model ensures that energy is accessible and affordable, reducing reliance on fossil fuels and promoting sustainable energy practices in Nigeria. Each microgrid installation prevents over 3,000,000 grams of CO2 emissions annually.

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

MarketGrid fosters economic growth by enabling MSMEs to operate efficiently and extend their working hours. This increased productivity leads to higher revenues and the creation of more job opportunities. Our training and support for local entrepreneurs further stimulate economic activity and sustainable development.

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

MarketGrid leverages AI and IoT technologies to create innovative energy solutions that improve the efficiency and reliability of power distribution. Our microgrids enhance infrastructure in underserved areas, supporting industrial activities and fostering innovation through sustainable energy practices.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

MarketGrid helps reduce inequalities by providing equal access to reliable and affordable energy for all MSMEs, regardless of their location. We actively support marginalized communities, including women-led businesses, ensuring they benefit from our clean energy solutions and business support services.

02.11.01 My startup contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification for my startup

MarketGrid contributes to sustainable cities and communities by providing clean energy solutions that reduce pollution and improve the quality of life. Our microgrids enhance energy security, support local businesses, and foster community resilience by enabling economic growth and environmental sustainability.

02.12.01 My startup contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification for my startup

MarketGrid takes urgent action to combat climate change by providing solar energy solutions that significantly reduce CO2 emissions. Each microgrid installation prevents over 3,000,000 grams of CO2 emissions annually, contributing to global efforts to mitigate climate change and promoting sustainable development practices.

02.14.01 My startup contributes to the Life below water goal

3

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

6

02.15.02 Life on land - Justification for my startup

Our efforts help preserve terrestrial ecosystems, reduce deforestation for fuel, and promote sustainable land use practices through our clean energy solutions.

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

Our initiatives support strong institutions by enabling reliable energy access for public services and businesses, contributing to community resilience and social cohesion.

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

MarketGrid actively collaborates with local governments, NGOs, and international organizations to scale our impact and reach more communities. These partnerships enhance our ability to provide clean energy solutions, support economic development, and promote sustainable practices in alignment with global development goals.

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.

6

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.

7 - Strongly Agree

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

5

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.

6

06.08 Justification for my startup

MarketGrid leverages cutting-edge AI and IoT technologies to optimize energy distribution and minimize maintenance costs, setting us apart from traditional energy solutions. Our Pay-As-You-Go model and comprehensive support tools empower local entrepreneurs to manage their own microgrids, addressing a critical gap in the market for scalable, affordable, and sustainable energy solutions.

06.09 Competitive Analysis

Our main competitors include Generator sets, candles/kerosene lanterns, conventional energy providers and solar power companies. However, MarketGrid stands out due to our innovative use of AI and IoT for efficient energy management, our Pay-As-You-Go model that enhances affordability, and our focus on empowering local entrepreneurs to establish and operate their own microgrids. This holistic approach ensures both immediate and long-term benefits for our users.

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

Yes, we actively engage with women-led businesses, provide training and support for female entrepreneurs, and prioritize gender inclusion in our recruitment processes.