Kenya - Business creation project

Décrivez votre projet en quelques mots

Backd connects everyday Kenyans, and Africans with innovative to crowd-sourced equity investments. We're building the future of African investment, making it easier, more accessible, and community-driven. Building Africa's future, one click at a time!

01.01 Décrivez votre projet en détail

Fundraising in Africa for start-ups is hard! Startups make up to 99% of small and medium-sized enterprises which account for a staggering 90% of businesses worldwide. But these essential enterprises often struggle to get the funding they need to grow. The IFC estimates that 43% of SMEs in developing nations have unmet financing needs totaling more than $5 trillion each year. According to Marcus Wagner, a researcher, and an investor approximate the timeframe for closing a round in Africa is 6-9 months on average. This means startups with less than adequate runway die before they have had a chance to raise a round. Equidam research also shows that startups need more than 6 tools with an approximate cost of $1450 monthly to run their fundraising process, even further draining the already dwindling runway. Backd aims to help African founders raise their rounds 10X faster, more efficiently, and quicker by introducing a new way to fundraise and tapping into the local investment space.

01.02 Quel est le problème principal que vous essayez de résoudre ?

1. Finding Investor Fit Finding investor fit can be daunting for founders, who must locate backers who share their vision, add value, and secure funding. Investor ecosystems are closed and based on referral as a founder you have to talk to everyone spending limited time on investor fit for your startup and sometimes you don’t find one. 2. Limited investor resources. Due to current practice, only sophisticated investors can participate in private markets, which limits the amount of capital all these startups are competing for. With new laws allowing unsophisticated investors to participate, we can increase access to capital. 3. Time drain & cost Founders can feel drained when they have been trying to close a round for more than 9 months(according to research) while operating on a dwindling runway and getting 'no's from unsuitable investors.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service que vous souhaitez fournir par votre projet (au moins 3).

For startups; Value Proposition: Faster, easier, and more accessible fundraising. Primary Benefits: Speed: Raise capital in days instead of months compared to traditional methods. Accessibility: Reach a wider pool of potential investors beyond personal networks. Reduced Costs: Potentially lower fees compared to traditional fundraising structures. Increased Visibility: Gain exposure to a broader audience and potential customers. Validation and Community Building: Successful campaigns can validate your business idea and build a community of supporters. For Investors: Value Proposition: Access to a wider range of vetted investment opportunities and the ability to invest in smaller amounts. Primary Benefits: Deal Flow: Discover exciting startups you might not find elsewhere. Investment Diversification: Spread your investment risk across multiple startups. Lower Investment Minimums: Invest in startups with smaller amounts.

01.04 Veuillez décrire précisément à qui s'adressera le produit/service de votre projet. Quels sont les bénéficiaires visés ?

1. Startups Seeking Capital: Key characteristics; Early-stage or growing businesses in need of capital for development. Frustrated with the time-consuming nature of traditional fundraising. May lack extensive networks or a proven track record for traditional investor 2. Unsophisticated investors, diaspora Africans and foreign nationals Interested in local Startups and private markets: Key Characteristics; Interested in supporting startups and potentially high returns. Want a platform to discover promising investment opportunities. Value co-investment and collaboration with other investors to share risks and insights. May be accredited or non-accredited investors, with the platform catering to investment amounts they can afford (often lower minimums than traditional methods). Africans working abroad and looking for an opportunity to invest back home, and make an impact

01.05 Quand avez-vous commencé à travailler sur votre projet ?

31/01/2024

01.06 Combien y a-t-il de propriétaires sur votre projet en plus de vous ?

3

01.07 Parmi les autres propriétaires, combien sont des femmes ?

1

01.08 Veuillez décrire le profil des autres propriétaires de votre projet (compétences, expérience, etc.).

Name: Peninah Kimiri Background: M.A in Counseling Psychology and 10 years experience in the non-profit sector - Key Skills: Operations, Research - Experience and Expertise: -Cofounded GenderJobs.org, a tech-enabled solution to connect gender professionals to opportunities and link organizations to gender talent. Name: Jack Githinji - Background: LL.B, 8 years experience in law and a serial entrepreneur in tech-enabled solutions(3years) - Experience and Expertise: Exited co-founder of Attorn, a B2B platform provides flexible legal outsourcing and delegation platform to help legal teams manage large projects. Exited Adamur, an upskilling platform for upskilling tech talent. - Name: Ian Kibandi - Background: BSc. in Mechatronics, Robotics, Automat Robotics, and Engineering and 4 years experience as an entrepreneur and Software Engineer. - Experience and Expertise: As the founder of Dev Canary, a visionary software agency and headed development at Tusenti(a fintech solution in Kenya)

01.09 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://backd.vc/invest

01.10 Quel est le secteur d'activité qui décrit le mieux votre projet ?

g) Services financiers

02.01.01 Mon projet contribue à l'objectif 'Pas de pauvreté'

7 - Tout à fait d'accord

02.01.02 Justification de la contribution de mon projet

• Jobs & Investment: Backd connects startups with everyday investors, fostering job creation & financial inclusion in Africa. • Youth Entrepreneurship: Backd empowers young Africans with innovative ideas to launch businesses, driving economic growth. • Sustainable Development: Backd prioritizes businesses tackling social & environmental challenges, promoting long-term poverty reduction. • Empowering African Markets: Backd's potential lies in unlocking investment, building a stronger future for Africans and empowering local SMEs to complete at the global stage.

02.02.01 Mon projet contribue à l'objectif 'Faim Zéro'

4

02.02.02 Justification de la contribution de mon projet

02.03.01 Mon projet contribue à l'objectif 'Bonne Santé et Bien Être'

4

02.03.02 Justification de la contribution de mon projet

02.04.01 Mon projet contribue à l'objectif 'Éducaiton de Qualité'

4

02.04.02 Justification de la contribution de mon projet

02.05.01 Mon projet contribue à l'objectif 'Égalité entre les Sexes'

4

02.05.02 Justification de la contribution de mon projet

02.06.01 Mon projet contribue à l'objectif 'Eau Propre et Assainissement'

4

02.06.02 Justification de la contribution de mon projet

02.07.01 Mon projet contribue à l'objectif 'Énergie Propre et Abordable'

4

02.07.02 Justification de la contribution de mon projet

02.08.01 Mon projet contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - Tout à fait d'accord

02.08.02 Justification de la contribution de mon projet

• Job Creation Engine: Backd fuels job growth by connecting startups with investors, empowering them to hire more. • Youth Entrepreneurship Boost: Backd empowers young Africans with innovative ideas to launch businesses, becoming significant job creators. • Financial Inclusion Matters: Backd allows everyday people to invest, fostering a sense of ownership and potentially stimulating local job creation. • Targeting Underserved Sectors: Backd can target funding towards sectors with limited employment opportunities, promoting economic diversification and new job markets. • Decent Work Advocate (Optional): Backd can encourage fair labor practices and employee development within supported businesses.

02.09.01 Mon projet contribue à l'objectif 'Industrie, Innovaiton et Infrastructure'

7 - Tout à fait d'accord

02.09.02 Justification de la contribution de mon projet

• Funding Innovation: Backd connects startups with investors, fueling innovation across various African industries. • Sustainable Infrastructure: Backd can support businesses developing innovative solutions for sustainable infrastructure, like renewable energy or waste management. • Inclusive Industrialization: By promoting entrepreneurship in underserved regions, Backd fosters geographically inclusive industrial development. • Tech-Driven Solutions: Backd can become a platform for startups developing tech-based solutions in various industries, driving overall innovation. • Bridging the Gap: Backd can connect investors with businesses lacking access to traditional funding sources, accelerating infrastructure and industrial development.

02.10.01 Mon projet contribue à l'objectif 'Réduction des Inégalités'

7 - Tout à fait d'accord

02.10.02 Justification de la contribution de mon projet

Financial Inclusion for All: Backd allows everyday people to invest, democratizing access to wealth creation opportunities and reducing income inequality. • Empowering Underserved Communities: Backd can target funding towards businesses in underserved regions, fostering economic growth and reducing geographical disparities. • Supporting Diverse Entrepreneurs: Backd can promote access to funding for startups led by women, minorities, or individuals from low-income backgrounds, tackling social and economic inequalities. • Transparency & Trust: Backd prioritizes platform transparency, building trust in the investment process and reducing barriers for new investors, particularly those unfamiliar with equity investing.

02.11.01 Mon projet contribue à l'objectif 'Villes et Communautés Durables'

5

02.11.02 Justification de la contribution de mon projet

• Sustainable Urban Solutions: Backd can support businesses developing innovative solutions for sustainable cities, like waste management, renewable energy for urban areas, or smart infrastructure projects. • Community-Driven Development: Backd's focus on empowering local entrepreneurs can foster community-driven development initiatives that address specific needs in urban areas, like improved sanitation or affordable housing solutions. • Financial Inclusion for Urban Growth: Backd allows everyday citizens to invest in businesses tackling urban challenges, promoting a sense of ownership and participation in innovations helping in shaping sustainable cities.

02.12.01 Mon projet contribue à l'objectif 'Consommation et Production Responsable'

5

02.12.02 Justification de la contribution de mon projet

• Sustainable Businesses: Backd prioritizes businesses adopting sustainable practices, promoting a circular economy in Africa. This could involve businesses focused on recycling, resource efficiency, or waste reduction. • Impact Investing: Backd can connect investors with businesses offering sustainable products or services, encouraging responsible consumption patterns. • Transparency as Key: Backd's focus on transparency allows investors to make informed decisions based on a business's environmental and social impact, fostering responsible production.

02.13.01 Mon projet contribue à l'objectif 'Luttle contre les Changements Climatiques'

4

02.13.02 Justification de la contribution de mon projet

02.14.01 Mon projet contribue à l'objectif 'Vie Sous-Marine'

4

02.14.02 Justification de la contribution de mon projet

02.15.01 Mon projetp contribue à l'objectif 'Vie Terrestre'

4

02.15.02 Justification de la contribution de mon projet

02.16.01 Mon projet contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

4

02.16.02 Justification de la contribution de mon projet

02.17.01 Mon projet contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

7 - Tout à fait d'accord

02.17.02 Justification de la contribution de mon projet

• Collaboration for Impact: Backd fosters partnerships between investors, entrepreneurs, and local organizations, mobilizing resources for sustainable development in Africa. • Knowledge Sharing: Backd can become a platform for knowledge sharing and capacity building within the African entrepreneurial ecosystem, accelerating progress towards SDGs. • Global Investment Bridge: Backd connects African businesses with global investors, strengthening partnerships for sustainable development goals.

05.01 Il existe un grand nombre de clients qui utilisent déjà un produit/service très similaire à celui que nous envisageons de créer.

3

05.02 Le produit/service que nous voulons créer représente un type de produit/service entièrement nouveau

7 - Tout à fait d'accord

05.03 Le produit/service que nous voulons créer pourrait être décrit comme une nouvelle technologie

1 - Pas du tout d'accord

05.04 Le produit/service que nous voulons créer est une amélioration d'un produit ou d'un service existant

7 - Tout à fait d'accord

05.05 Le produit/service que nous voulons créer pourrait être décrit comme une extension d'une gamme de produits ou de services

7 - Tout à fait d'accord

05.06 Le produit/service que nous voulons créer répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

7 - Tout à fait d'accord

05.07 Le produit/service que nous voulons créer est une nouvelle version d'un ancien produit/service

7 - Tout à fait d'accord

05.08 Justification de mon projet

AI-powered Matching: Ditch one-size-fits-all! Backd uses AI to connect investors with startups based on interests & risk tolerance. W3 Innovation: We explore DeFi for fractional ownership (lower barriers) & DAOs for community-driven deal selection.

05.09 Qui sont vos principaux potentiels concurrents et qu'est-ce qui vous différencie d'eux ?

Getequity - Nigerian focus, initially offered a platform for retail investors to buy equity in startups but now they are shifting their focus to offering a wider range of investment options including commodities and bonds. Republic - American startups, market focus - USA and Europe, offering a platform for retail investors to buy equity in startups. Crowdcube Market focus on Asian and European markets, offering a platform for retail investors to buy equity in startups. Back'd brings new thinking to African crowd equity by harnessing the power of automation and W3 technologies; Automated Investor Targeting: Leverage AI and machine learning to match investor profiles with suitable startups based on their interests and risk tolerance. W3 Integration for Innovation: Explore DeFi (Decentralized Finance) to create Security Tokens and enable fractional ownership, making investment more accessible. Consider DAOs (Decentralized Autonomous Organizations) to empower a community-drive

10.06 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?

Yes, one of our co-founders is a female and has a community helping GBV victims learn critical entrepreneurship skills. We aim to create a studio as part of our scaling to enable this women to create sustainable ventures.