Nigeria - Startup under 3 years old

Décrivez votre projet en quelques mots

Powerfull is a technology-enabled, solar financing company in Nigeria that offers the most affordable way to transition from costly generator to cheaper solar power in Nigeria. Our mission is to bridge Africa's energy gap with data-driven solar financing.

01.01 Décrivez votre startup en détail

The World Bank reported in 2022 that 85 million out of over 200 million Nigerians lack access to grid power, with 79% of those with access experiencing less than 12 hours of power daily. This situation results in an economic loss of $29 billion annually for Nigeria. Consequently, businesses and residents rely on expensive and environmentally polluting diesel generators, with a cost per kilowatt-hour of about $0.40 (N550). Powerfull is a pioneering solar financing company focused on revolutionising energy access and reducing energy costs in Africa. Through data-driven solar financing, we can lower energy costs from $0.40 per kilowatt-hour with diesel generators to as low as $0.10 per kilowatt-hour with solar. Our approach relies on real-time, critical variable data input through API plug-ins, accurately assessing project risk before solar financing and eliminating guesswork. We manage the financing, develop and install solar assets, and ensure repayment using smart metering and payment

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

The main problem we are addressing is the lack of affordable and accessible financing for reliable and affordable electricity access in Nigeria. Sourcing solar financing poses significant challenges due to high interest rates and short payback periods. Traditional financing options often come with exorbitant interest rates, making it financially burdensome for businesses and residents to invest in solar energy solutions. Additionally, the short payback periods offered by many financiers make it difficult for solar projects to generate sufficient returns and achieve profitability. As a result, accessing affordable and accessible financing for solar projects becomes a daunting task, hindering the widespread adoption of solar energy in Nigeria. Many businesses and residents resort to expensive and environmentally harmful diesel generators due to unreliable grid power, leading to increased operational costs and environmental pollution.

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

Cost Reduction: Our solution significantly lowers energy costs by transitioning from expensive diesel generators to more affordable solar energy, reducing operational expenses for businesses and residents. Reliability and Resilience: Solar energy provides a reliable and sustainable power source, reducing dependency on the erratic grid power and ensuring uninterrupted electricity supply, especially in areas prone to power outages. Environmental Impact: By promoting the adoption of solar energy, we contribute to environmental conservation by reducing reliance on fossil fuels and decreasing carbon emissions, leading to a cleaner and greener future. Financial Accessibility: We provide accessible and affordable financing options tailored to the specific needs of our customers, enabling them to invest in solar energy solutions without facing the high interest rates and short payback periods typically associated with traditional financing options.

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

Our target customers are mid to large-scale businesses in Nigeria, particularly those in industries such as hospitality, residential communities, healthcare, education, and retail. Our targeted beneficiaries are those facing challenges with unreliable grid power, high energy costs, and environmental pollution associated with diesel generators. We aim to serve enterprises such as hotels, gated residential communities, hospitals, schools, and shopping complexes. While we avoid retail customers, Our startup's product and service are aimed at serving businesses in Nigeria who currently rely on diesel generators for their energy needs. These include: 1. Small and medium-sized enterprises (SMEs) operating in various industries such as manufacturing, hospitality, healthcare, and retail. 2. Residential communities, including gated estates and apartment complexes. 3. Commercial establishments, including offices, shopping malls, and educational institutions.

01.05 Quand votre entreprise a-t-elle été créée ?

25/01/2022

01.06 Vendez-vous déjà votre produit/service ?

Oui

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

2

01.08 Parmi les autres propriétaires, combien sont des femmes ?

0

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

1. Chiemeka Okeke- CFO has extensive experience in energy projects and financial risk management. He worked in Deals Advisory at KPMG, focusing on building financial models and mitigating risks in energy projects. He holds a Master's degree in Finance & Accounting from Imperial College Business School. He is responsible for all financial matters on the team. 2. Ifeanyi Ukwuoma - CEO. Former manager at Amazon and holds a MBA Degree along with a Bachelor's and Double Masters. He is deeply passionate about energy transition. 3. Mayowa Abiodun. CTO. Senior Software Developer with core competence in financial technology and energy technology. HAe has previously worked in an Energy company that integrates proprietary technology with digital assets and physical energy assets. He is responsible for all technology matters on the team.

01.10 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://www.linkedin.com/company/powerfull-tech/, https://www.instagram.com/powerfull.tech/, https://x.com/powerfull_tech, https://www.facebook.com/tech.powerfull

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Services financiers

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

Powerfull contributes to the UN's No Poverty goal by addressing energy poverty and boosting economic opportunities in Nigeria and Africa. By offering solar energy solutions that cut costs from $0.40 per kWh (diesel) to $0.10 per kWh (solar), we help businesses and households save money, enhancing their financial stability. Reliable power supports continuous business operations, driving job creation and economic stability. Our solar projects create jobs in installation, maintenance, and sales, stimulating local economies. Transitioning to solar power reduces environmental pollution and health issues, benefiting impoverished communities. Access to affordable energy empowers marginalised groups, particularly women, enabling them to pursue income-generating activities. By providing sustainable, cost-effective energy solutions, Powerfull reduces operational costs, promotes economic growth, and fosters a healthier environment, directly contributing to poverty alleviation in Nigeria

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

7 - tout à fait d'accord

02.02.02 Justification de la contribution de ma startup

Powerfull contributes to the Zero Hunger goal by providing reliable and affordable solar energy solutions to agricultural businesses, including farms and food processing facilities. Consistent and cost-effective energy access enables farmers to power irrigation systems, cold storage, and processing equipment, ensuring higher crop yields and reduced post-harvest losses. This enhances food production and supply chain efficiency, leading to increased food availability and affordability. By lowering energy costs from $0.40 per kWh (diesel) to $0.10 per kWh (solar), Powerfull allows agricultural enterprises to reinvest savings into their operations, improving productivity and expanding capacity. Our data-driven approach ensures precise energy financing and management, reducing financial risks and supporting sustainable agricultural practices. Access to solar power also mitigates the impact of climate change on agriculture, promoting resilience and food security.

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

7 - tout à fait d'accord

02.03.02 Justification de la contribution de ma startup

Powerfull contributes to the Good Health and Well-being goal by providing reliable, affordable, and clean energy solutions to healthcare facilities and communities. With consistent access to solar power, hospitals and clinics can ensure uninterrupted operation of critical medical equipment, refrigeration for vaccines and medicines, and adequate lighting, thereby improving the quality of healthcare services. By reducing reliance on diesel generators, which are expensive and environmentally harmful, Powerfull helps lower operational costs for healthcare providers. The reduced pollution from diesel generators also contributes to a healthier environment, reducing respiratory and other health issues associated with air pollution. Moreover, by bringing stable electricity to residential communities, Powerfull enhances living conditions, allowing for better indoor air quality, improved sanitation, and safer environments.

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

7 - tout à fait d'accord

02.04.02 Justification de la contribution de ma startup

Powerfull contributes to the Quality Education goal by providing reliable, affordable, and clean energy solutions to educational institutions and communities. By ensuring consistent access to solar power, schools and universities can maintain uninterrupted operations, enabling students to study in well-lit classrooms and access digital learning tools and resources. Reliable electricity ensures that educational facilities can operate without disruption,With stable electricity, schools can extend operating hours, enabling students to study in the evenings and improving their academic performance. Cost savings from reduced reliance on expensive diesel generators allow schools to reallocate funds towards improving educational infrastructure, purchasing learning materials, and enhancing teacher training programs. This financial flexibility enables schools to invest in better resources and facilities, directly impacting the quality of education.

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

7 - tout à fait d'accord

02.05.02 Justification de la contribution de ma startup

Powerfull contributes to the Gender Equality goal by providing reliable, affordable, and clean energy solutions that empower women and girls in multiple ways. Access to consistent solar power reduces the time women and girls spend collecting firewood or managing inefficient energy sources, allowing them more time for education and economic activities. By lighting homes and communities, solar energy enables women to engage in productive work and educational pursuits during evening hours, promoting their independence and personal growth. Furthermore, Powerfull's solar solutions help create safer environments by providing better lighting for streets and public spaces, reducing the risk of gender-based violence. The economic savings from switching to solar energy can be reinvested in women's businesses, education, and health, contributing to their overall empowerment. By fostering environments where women and girls can thrive, Powerfull actively supports the advancement of gender equality

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

7 - tout à fait d'accord

02.06.02 Justification de la contribution de ma startup

Powerfull contributes to the Clean Water and Sanitation goal by providing reliable and sustainable energy solutions that facilitate access to clean water and improved sanitation facilities. With solar-powered pumps and filtration systems, communities can access clean water sources without relying on traditional, often unreliable, energy sources. Solar energy also powers sanitation facilities, such as water treatment plants and sewage systems, ensuring proper waste management and reducing waterborne diseases. Additionally, Powerfull's solar solutions enable the implementation of innovative water conservation techniques, such as drip irrigation systems, which optimize water usage in agriculture. By promoting efficient water management practices, Powerfull helps conserve water resources, especially in regions prone to droughts or water scarcity. Through these initiatives, Powerfull contributes to the achievement of the Clean Water and Sanitation goal by ensuring access to clean water.

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

7 - tout à fait d'accord

02.07.02 Justification de la contribution de ma startup

Powerfull significantly contributes to the Affordable and Clean Energy goal by revolutionizing access to sustainable energy solutions across Africa. Through our data-driven solar financing model, we make clean energy accessible and affordable, thereby reducing reliance on costly and environmentally harmful energy sources like diesel generators. By offering financing options with lower interest rates and longer payback periods, we break down financial barriers and enable businesses and communities to adopt clean energy solutions. Moreover, Powerfull's solar installations replace fossil fuel-based energy sources, leading to a significant reduction in greenhouse gas emissions and air pollution. By promoting the widespread adoption of solar power, we contribute to mitigating climate change and creating a cleaner, healthier environment for current and future generations. Our commitment to providing affordable and clean energy solutions aligns with the UN Sustainable Development.

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - tout à fait d'accord

02.08.02 Justification de la contribution de ma startup

Powerfull plays a vital role in advancing the Decent Work and Economic Growth goal by fostering economic empowerment and job creation through the widespread adoption of solar energy solutions. By providing affordable financing options for businesses to transition to clean energy, we stimulate economic growth by reducing operational costs and improving productivity. This enables businesses to reinvest their savings into expansion, innovation, and job creation, thereby contributing to the creation of decent work opportunities. Additionally, Powerfull's initiatives in the solar energy sector create employment opportunities across the value chain, from solar panel manufacturing and installation to maintenance and support services. Through training and capacity-building programs, we empower local communities with the skills and expertise needed to participate in the renewable energy industry, fostering inclusive economic growth and reducing unemployment.

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

7 - tout à fait d'accord

02.09.02 Justification de la contribution de ma startup

Powerfull significantly contributes to advancing the Industry, Innovation, and Infrastructure goal by revolutionising the energy sector with innovative solar financing solutions and infrastructure development. Through our pioneering approach to solar financing, we drive innovation by leveraging data-driven technologies to assess project feasibility, mitigate risks, and optimize resource allocation. By providing affordable financing options for solar energy projects, we facilitate the development of clean energy infrastructure, including solar farms, microgrids, and distributed solar systems, thereby promoting sustainable industrialisation and infrastructure development. We support the development and adoption of cutting-edge technologies, such as smart metering, IoT devices, and predictive analytics, to enhance energy efficiency and optimise energy management practices. Powerfull contributes to building resilient infrastructure, promoting sustainable industrialisation.

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

Powerfull plays a crucial role in addressing the Reduced Inequalities goal by democratizing access to clean and affordable energy solutions across socio-economic groups. Through our innovative solar financing model, we empower marginalized communities and underserved populations with access to reliable electricity, thereby reducing disparities in energy access. By offering flexible financing options and tailored solutions, we ensure that even low-income households and remote communities can benefit from clean energy technologies, breaking down barriers to access and fostering inclusivity. Additionally, Powerfull promotes social equity by creating economic opportunities and empowering local entrepreneurs and businesses in the renewable energy sector. By partnering with local communities and stakeholders, we facilitate job creation, skill development, and capacity building initiatives, empowering individuals from diverse backgrounds to participate in the green economy.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

7 - tout à fait d'accord

02.11.02 Justification de la contribution de ma startup

Our startup plays a crucial role in making cities and human settlements inclusive, safe, resilient, and sustainable. By offering affordable and reliable solar energy solutions, we reduce dependence on diesel generators, thereby decreasing air and noise pollution. This contributes to cleaner and healthier urban environments, enhancing the quality of life for residents. Furthermore, our emphasis on data-driven financing fosters economic development and resilience, promoting sustainability and inclusivity within communities. Through these efforts, we actively contribute to the creation of livable, safe, and sustainable cities for all.

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

7 - tout à fait d'accord

02.12.02 Justification de la contribution de ma startup

Our startup significantly contributes to responsible consumption and production by promoting sustainable energy solutions. By enabling the transition from fossil fuel-based energy sources to clean and renewable solar power, we advocate for responsible consumption of resources. Additionally, our focus on financing and installing solar assets aligns with circular economy principles, as it encourages the reuse and repurposing of energy resources. Through these efforts, we actively support the achievement of sustainable consumption and production patterns, fostering a more environmentally responsible approach to energy generation and consumption.

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

7 - tout à fait d'accord

02.13.02 Justification de la contribution de ma startup

Our startup plays a crucial role in combating climate change and its impacts by facilitating the adoption of clean and renewable energy sources, particularly solar power. By reducing reliance on fossil fuels, such as diesel generators, we help mitigate greenhouse gas emissions and decrease the carbon footprint of businesses and communities. Through our innovative solar financing solutions, we accelerate the transition towards a low-carbon economy, contributing to global efforts to address climate change. Additionally, by promoting sustainable energy practices, we raise awareness about the importance of climate action and inspire others to embrace environmentally friendly solutions.

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

5

02.14.02 Justification de la contribution de ma startup

While our startup primarily focuses on terrestrial renewable energy solutions, our efforts indirectly contribute to the conservation and sustainable use of oceans, seas, and marine resources. By promoting the adoption of solar energy, we help reduce the demand for fossil fuels, which are often extracted from offshore drilling sites and contribute to marine pollution and habitat destruction. Additionally, by mitigating climate change through our clean energy initiatives, we support the preservation of marine ecosystems, as rising temperatures and ocean acidification pose significant threats to marine biodiversity. Through our commitment to sustainable development, we advocate for responsible consumption and production patterns that minimize the negative impacts on marine environments, aligning with the objectives of preserving life below water.

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

5

02.15.02 Justification de la contribution de ma startup

Our startup plays a crucial role in promoting sustainable land use practices and conserving terrestrial ecosystems by facilitating the transition to renewable energy sources like solar power. By reducing reliance on fossil fuels and mitigating greenhouse gas emissions, we contribute to combating desertification, land degradation, and biodiversity loss. Additionally, our focus on clean energy solutions helps preserve natural habitats and ecosystems by minimizing the negative impacts of traditional energy generation methods, such as deforestation and habitat destruction associated with mining and drilling. Through our efforts to promote sustainable development and responsible resource management, we support the objectives of protecting and restoring terrestrial ecosystems and biodiversity, ensuring a healthier and more sustainable future for life on land.

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

5

02.16.02 Justification de la contribution de ma startup

While our startup may not directly address peace and justice issues, we contribute indirectly by promoting economic development and social inclusion through our sustainable energy solutions. Access to reliable and affordable electricity fosters economic growth, reduces poverty, and enhances social stability, all of which are essential for peace and justice. By providing clean energy alternatives, we empower communities to build resilience against social and economic challenges, ultimately contributing to the creation of more peaceful and inclusive societies. Additionally, our commitment to transparency, accountability, and ethical business practices aligns with the goal of building effective and accountable institutions, ensuring that our operations adhere to the highest standards of governance and integrity. Through our efforts, we strive to support the development of strong institutions that uphold justice and promote sustainable development for all.

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

6

02.17.02 Justification de la contribution de ma startup

Our startup actively contributes to the goal of "Partnerships for the Goal" by fostering collaborations and partnerships with various stakeholders to drive sustainable development. We recognise the importance of collective action and cooperation in achieving the Sustainable Development Goals (SDGs) and work closely with government agencies, non-profit organizations, academia, and industry partners to strengthen the means of implementation. Through strategic partnerships, we leverage complementary expertise, resources, and networks to maximize the impact of our initiatives and accelerate progress towards sustainable development. By revitalizing the global partnership for sustainable development, we aim to mobilise collective efforts, share knowledge and best practices, and facilitate innovative solutions that address the world's most pressing challenges. Together with our partners, we are committed to building a more inclusive, resilient, and sustainable future for all.

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

6

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

2

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

3

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

6

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

6

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

6

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

6

06.08 Justification

The product/service is an improvement on an existing product or service by offering data-driven solar financing that significantly reduces energy costs compared to diesel generators. We provide a comprehensive solution that includes sourcing funding, financing projects, and outsourcing the installation and maintenance of solar and battery assets. Additionally, our digital infrastructure features smart metering and digital wallets to ensure seamless and reliable repayment, making our service more efficient and cost-effective than traditional energy solutions.

06.09 Analyse compétitive

Daystar Power Energy Solutions (https://www.daystar-power.com/): Delivers hybrid power solutions, including solar and diesel, for businesses in West Africa. What Makes Powerfull Stand Out Powerfull leverages AI to categorise energy data and manage payment collections, enabling real-time assessments of project viability and portfolio management post-financing, which reduces risk and enhances accuracy. Additionally, we reduce energy costs from $0.40 per kWh for diesel to $0.10 per kWh with solar, offering significant savings. Our comprehensive service handles funding, financing, installation, and maintenance, supported by advanced digital infrastructure with smart metering and digital wallets for reliable repayment, ensuring customer trust and satisfaction.

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

Yes, we are initiating actions within our community to promote the role of female entrepreneurs. Some examples of our initiatives include organising workshops and mentorship programs specifically tailored to female entrepreneurs, partnering with women-led organisations to provide networking opportunities and resources, and actively advocating for gender diversity and inclusion in entrepreneurship events and forums. Additionally, we offer grants and funding opportunities specifically targeted towards female-led startups, aiming to support and empower women in entrepreneurship.