Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Women of Wealth is an initiative by Sharesell to empower low-income women who are often the most vulnerable in an economic recession. The goal is to provide 5,000 underserved women and girl entrepreneurs access to start their online retail businesses.

01.01 Describe your startup in more detail

Sharesell is an online marketplace connecting suppliers with a wide range of inventory to a network of Resellers to reach ready buyers on/off social media in Africa. We help Suppliers like Manufacturers, Wholesalers, Distributors & Importers reach ready buyers at a fraction of their current marketing and distribution costs while we help Resellers like drop-shippers, students, stay-at-home moms, youth corpers, 9-5ers, and online vendors to set up profitable online retail businesses with ZERO upfront capital and inventory. Sharesell is for Mrs. Stella, a Bolt driver who realizes that time is her most valuable resource and that she has to make extra income if she would pay off her hire purchase on time. So in the middle of her rides, she sources trendy products from top suppliers on Sharesell, shares on her WhatsApp stories, and watches the payments and profits come in.

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

Despite the African consumer market spending $101 million online daily to shop, Africa's retail marketing & distribution systems need to be more efficient, pointing to significant problems in getting products to the consumers who need them most. Increased costs, sales fraud, lower profit margins, and lost opportunities for growth and development highlight the need to improve the systems.

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

- Suppliers who list their products on the marketplace have access to ready buyers at lower costs through our network of Resellers. - The lowered barrier of entry for Resellers to start their retail business without upfront capital - Efficient discounted delivery solutions for buyers - The dropshipping model the product operates, ensures increased sales at lower marketing and distribution costs

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

- We help Suppliers like Manufacturers, Wholesalers, Distributors & Importers reach ready buyers at a fraction of their current marketing and distribution costs -

01.05 When was your company established?

2022-04-01

01.06 Are you already selling your product/service?

Yes

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.)

Osamudiamen Imasuen who is Co-Founder and Chief Product Officer at Sharesell is a multifaceted professional with a passion for creativity and innovation. With over 7 years of experience in product design, he has made significant contributions to the fields of finance, e-commerce, and healthcare. Through his expertise and vision, Osamudiamen has played a crucial role in shaping user experiences and driving impactful solutions in these industries. His deep knowledge of UX design and research sets him apart as a valuable asset in crafting user-centric and intuitive products. Osamudiamen's keen eye for detail and empathetic approach to design ensure that end-users' needs and preferences are at the forefront of his work. Throughout his journey, Osamudiamen has exemplified a commitment to growth and learning, continually seeking opportunities to refine his skills and broaden his horizons. Some of the companies he has worked with are; Paxful, Printivo, TimelyMd and BlocHq.

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

https://sharesell.africa/

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

Our Resellers (both men and women) make a monthly sustainable income of up to N75,000 monthly. WIth the advent of sustainable income, they are able to live above poverty.

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

3

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

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

87% of users of the product are women. With this realization, we decided to launch the Women of Wealth initiative to further empower 5,000 women to become economically self-sufficient

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

2

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

Our product helps promote sustained, inclusive, and sustainable income opportunities for users. Users (Resellers) earn an average of N75,000 in sales profits using the marketplace

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

There are existing solutions for retail distribution that do not fit into the localized use cases for Nigerians (at large, Africans). Our product is an innovative solution that prioritizes end-users needs and priorities.

02.10.01 My startup contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

2

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

2

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

2

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

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

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

2

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

4

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.

2

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.

5

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.

3

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

6

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

3

06.08 Justification for my startup

06.09 Competitive Analysis

1. E-commerce marketplaces (Jumia, Konga) - these channels require much digital expertise and are not easily accessible for less tech-savvy vendors. We have only built a simpler and more efficient solution for how Africans prefer to shop online. 2. Dropshipping Platforms (Tendo, Dukesell) - beyond just shopping on social media, buying decisions are also influenced by online social communities. We have prioritized communities in our approach to building out the solution.

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

By starting the Women of Wealth Initiative. This is an initiative by Sharesell to empower low-income women who are often the most vulnerable in an economic recession. The goal is to provide 5,000 underserved women and girl entrepreneurs access to start their online retail businesses.