Nigeria - Startup under 3 years old

Describe your project or startup in a few words

We are a conversational commerce company offering Sales Chatbots and integrated business management solutions to retail businesses. Using WhatsApp we transform the online presence of businesses into engaging hubs that keeps customers hooked.

01.01 Describe your startup in more detail

We leverage artificial intelligence to help businesses streamline their sales through conversations. Our WhatsApp sales chatbot provides businesses with 24/7 customer support to their customers, personalized product recommendations, sales guidance, Add to Cart functionality and delivery management all on WhatsApp. Clients create an account and upload their products onto our inventory management dashboard.The Sales bot software is then plugged into the inventory system and integrated into the Client’s Whatsapp number. When customers reach out to the business owner on WhatsApp the Sales Bot intercepts these enquiries and provide conversational responses from product recommendations to checkout. Our Sales bots can handle multiple customer interactions simultaneously, reducing the need for extensive customer service teams and lowering operational costs

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

Commerce in Africa is conversational and the ecommerce industry in Africa is growing exponentially. African customers desire the ability to engage in conversations and ask questions while making purchases, but traditional websites do not facilitate this level of interaction. This is why a lot of customers in this part of the world resort to shopping through social media platforms because it is more interactive. Business owners often struggle to consistently respond to all inquiries on social media within a reasonable timeframe. In General businesses in Africa are facing a significant challenge in providing real-time responses to customer inquiries during the crucial purchase window. This lack of timely interaction results in a loss of revenue and low customer retention rates. This communication gap severely hampers the customer experience and undermines business growth in the region.

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

24/7 Customer Support and Engagement: With instant, personalized interactions, our chatbot enhances customer satisfaction and builds trust, leading to increased sales and customer loyalty. Multilingual Support: Supporting multiple African languages, our chatbot allows businesses to engage with customers in their preferred language, expanding reach and fostering inclusivity across diverse cultures. Advanced Product Recommendations: Leveraging machine learning, our chatbot provides tailored product recommendations based on customer preferences and purchase behavior, significantly boosting conversion rates. Seamless Inventory Management: By continuously monitoring stock levels and updating product availability in real-time, our solution streamlines inventory management, ensuring businesses can meet customer demand efficiently and avoid stockouts.

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

Our target market are small to medium online retail businesses in Nigeria. They are typically located in the urban areas like Lagos. They typically retail and market their products on Social Media. These businesses use WhatsApp Status and Instagram feed as a store front and use the chat segment and direct messaging for direct communication with their customers, receiving orders and sending payment details. They get at least 20 enquiries daily and make a minimum monthly revenue of $400. These businesses are trying to scale their businesses and increase their revenue however they are unable to adequately handle the volume of enquiries they receive through their marketing efforts. Even when they hire staff to handle these enquiries it is not scalable as there is a limit to the number of enquiries each staff can handle at a time.

01.05 When was your company established?

2023-10-01

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.)

Uchechi Arinze - Chief Executive Officer: As the CEO, Uchechi spearheads our business and marketing strategies, forges key partnerships, and maintains the overall vision of Waffles AI. With a Master's degree in Architecture and a Certificate in Software Entrepreneurship from Mest Africa, Uchechi boasts over a decade of experience in successfully building and running e-commerce businesses in Nigeria. Her accolades include recognition from industry leaders like Unilever Nigeria and Access Bank Nigeria, along with global acknowledgment as a digital talent by Mercedes Benz Fashion Week Russia. Clinton Mbonu - Chief Technical Officer: In the role of CTO, Clinton leads the technical aspects of Waffles AI, overseeing the development of both the front and back end of our inventory dashboard, , constructing AI models, and ensuring a scalable product architecture. Armed with a degree in computer science and over 10 years of experience as a full-stack web and mobile developer.

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

https://www.instagram.com/waffles.ai

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

5

02.01.02 No poverty - Justification for my startup

Job Creation and Economic Growth: By enabling businesses to operate more efficiently and increase sales through AI-driven customer support and sales automation, we help create job opportunities within these businesses. Increased sales can lead to business expansion, which in turn generates employment, contributing to economic stability and poverty reduction.

02.02.01 My startup contributes to the Zero hunger goal

3

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

4

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification for my startup

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

3

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

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

02.10.01 My startup contributes to the Reduced inequalities goal

5

02.10.02 Reduced inequalities - Justification for my startup

Free Business Workshops and Trainings: These initiatives provide essential skills and knowledge to business owners, enhancing their ability to utilize modern technology effectively. Empowered with these skills, business owners can optimize their operations and increase their revenue, contributing to poverty reduction. Lowering Barriers to Entry: WhatsApp is widely used across Africa and other regions, with high penetration even in areas with limited internet infrastructure. By leveraging this popular platform, we ensure that our solutions are accessible to a large number of businesses and customers, regardless of their location or economic status.

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

6

02.12.02 Responsible consumption and production - Justification for my startup

Textile Waste Reduction: Our AI-powered sales assistant provides personalized product recommendations and accurate sizing guidance, minimizing returns due to incorrect sizes or unsuitable products. Guided Purchases: By offering customers real-time assistance and personalized shopping experiences, our platform ensures that purchases are more thoughtful and deliberate. This reduces impulsive buying and the associated waste, promoting more sustainable consumption patterns. Optimizing Inventory Management: The integration of our sales bot with our clients’ inventory management systems helps us maintain optimal stock levels, reducing the likelihood of overproduction. This ensures that businesses can align their production or purchases with actual demand, minimizing excess inventory and waste.

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

3

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

5

02.17.02 Partnerships for the goal - Justification for my startup

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

3

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.

6

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

5

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

4

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.

4

06.08 Justification for my startup

Pioneering a Comprehensive Solution Integrated Platform: We are the first in Africa to develop a solution that seamlessly integrates AI-powered customer support, sales guidance, and inventory management within a single platform. This holistic approach simplifies business operations, making it easier for SMEs to manage and scale their businesses efficiently. Tailored for the African Market Conversational Commerce: Our solution is specifically designed to replicate the conversational buying and selling patterns prevalent in African markets. By leveraging WhatsApp, the most popular messaging platform in Africa, we ensure that businesses can interact with their customers in a familiar and accessible way, enhancing customer engagement and satisfaction. Local Language Support: Recognizing the linguistic diversity of Africa, our AI chatbot supports multiple local languages, enabling businesses to communicate effectively with a broader customer base.

06.09 Competitive Analysis

Currently, Waffles AI is the only conversational commerce platform built for the African market that combines inventory management with sales automation. Our competitors include: Wati: An end-to-end WhatsApp API solution that helps businesses manage and track customer interactions and automate communication with custom workflows. It integrates with platforms like Zoho, Shopify, and WooCommerce. LivePerson: Offers a unified, AI-driven system for personalized consumer engagement through conversational and voice analytics. It’s designed for developers and enterprises, making it inaccessible to small businesses due to its high cost and complexity. Bumpa: Allows Nigerian business owners to create a customizable website in 2 minutes without tech skills. It manages business across online and offline channels but doesn't address conversational customer support. Our Advantages: Advanced AI: Unlike Wati's decision tree-based chatbots, our assistant uses large language models for accurate,

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

Yes. We have partnered with two female entrepreneurship hubs (Bellafricana and Ladies entrepreneurship hub), creating a robust support network for women in business. These partnerships enable us to provide targeted training, resources, and mentorship to female entrepreneurs, empowering them with the skills and tools necessary to thrive in the digital economy. Through these hubs, we offer exclusive access to our software, ensuring that female-led businesses can leverage advanced technology to streamline their operations and enhance customer interactions. We also conduct regular workshops and training sessions tailored to the unique challenges faced by women entrepreneurs, helping them build confidence and competence in using AI and digital tools.