NutriMilk introduces a unique process of preparing milk from soybean, provides maximum quality with cheaper rate ($0.30 per liter) alternative to the existing market and primarily designed for the malnourished people of Bangladesh and it confirms to the ISO 9622|IDF 141 series of milk standards.
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Abdul
Last Name
Mannan
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Your Solution
Project Name
NutriMilk
Elevator Pitch: Share a concise summary. This will be the introductory text about this pitch that viewers will see.
NutriMilk introduces a unique process of preparing milk from soybean, provides maximum quality with cheaper rate ($0.30 per liter) alternative to the existing market and primarily designed for the malnourished people of Bangladesh and it confirms to the ISO 9622|IDF 141 series of milk standards.
Problem: What problem does your solution address?
According to the report of WHO, about 41 million of people of Bangladesh including 15 million women (in which 50% pregnant women) and 2 million children are suffering from malnutrition resulting 13% of total death every year. UNICEF reports that 0.12 million neonates die every year because of malnutrition. The majority of the people of Bangladesh lives in poverty and their daily income less than $1 as a result they do not buy nutritious food.
Solution: What is the proposed solution?
NutriMilk introduces a unique process of preparing milk from soybean, provides maximum quality with cheaper rate alternative to the existing market and primarily designed for the malnourished people of Bangladesh. NutriMilk aims to resolve the problems by increasing affordability, accessibility and awareness. Priced at $0.30 per liter, which is one-fifth the price of existing market, affordability is ensured. Our two-branched distribution channel will make accessible our product to 50% of the overall population within the first 5 years, thus resolving the problem of accessibility. NutriMilk works as awareness scheme for the general populace mostly the children and women through strategic alliances with union health complex, NGOs, & schools.
Founding Story: Share a story about the “Aha!” moment that led you to get started and/or to see the potential for this to succeed.
One day we, the some visionary and enthusiastic youths, are planning to give something new for the betterment of the community and then screen about the top problems. Finally we are agreed to reduce malnutrition problem of our community and talked with a faculty who has invented a machine for preparing milk from soybean. You can ask why we choose NutriMilk instead of others. Because many conglomerate suppliers are providing very low quality milk products with high price. Now we are contemplating on market research to understand the market demand of Nutrimilk and also have designed organogram and IMC strategy. We believe our coordinated and enthusiastic efforts can promise to lead our venture as a successful story in the whole country.
Select Sector(s): To which of Unilever's categories of sustainability does your solution apply?
Nutrition.
This Entry is about (Issues)
Measurable Impact
Example: Walk us through a specific example(s) of how your solution makes a difference; include its primary activities.
Kawsar, a malnourished guy, was suffering from severe anemia and beriberi diseases. The local CNP officer asked his parents, “What types of milk are you feeding your child?” His parents said they were providing powder milk and sometimes other existing liquid milk. Then he suggested his parents to feed NutriMilk instead of existing powder and liquid milk. After two years, Kawsar is now totally free from anemia, beriberi and other malnourished diseases. Now the other people of that community are very interested to take the NutriMilk as an alternative of existing products.
Audience: Who have you identified as your customers/recipients and why? How will you get your solution to them or engage them in your initiative?
Marketing activities will be focused on 41 million people; mainly children and pregnant women are suffering from malnutrition. Besides, daily income is less than $1 and most of them are unable to buy nutritious food. We will engage them by raising awareness through strategic alliances with union health complex and NGOs. We will make our product available to the customer through our distribution channel like 200 retail and super shops, and Community Nutrition Promoters (CNPs).
Impact: What is the impact of the work to date and expected impact in the future?
NutriMilk primarily covers the major two districts (Dhaka, Chittagong) of Bangladesh and targets to decrease 2-3% of the intensity of malnutrition rate within 5 years. Its awareness scheme aims to reduce the malnourished pregnant women at 5%. It contains fiber and protein that are helpful to slow absorption of sugar and decreasing hyper-filtration respectively and also free from cholesterols that reduce high blood pressure and heart diseases. Huge job opportunities will be created for the local people. NutriMilk helps to reduce the substantial portion of the milk powder imports costing around $90 million and fosters economic growth. It inhibits the production of testosterone due to its rich source of phytoestrogen which ultimately reduces prostate cancer. It also helps to reduce under-five mortality rate to 50 from 65 per 1000 to achieve several MDGs of Bangladesh.
Growth, Finance & Leadership
Marketplace: Who else is addressing this problem and how does the proposed solution differ from these approaches?
NutriMilk has no direct competitors but some local dairy milk and powder milk suppliers establish their initial sales and promotion network. The research shows that powder milk has toxic element called melamine and dairy milk is out of minimum vitamin. NutriMilk consists of highly nutritive value and mostly same element of cow’s milk and it can easily promise to provide better quality with cheaper rate than existing products. Our marketing strategy is devised to support our wide spanning distribution channel through 200 retail and super shops, and Community Nutrition Promoters (CNPs).
Scaling the Solution: How do you intend to scale your activities over the next two years (e.g., reach new markets, diversify solutions, etc.)? What will make this possible?
We primarily focus on big two districts (Dhaka, Chittagong) first two years and target to spread the brand name of NutriMilk in the whole country within five years. We will implement a complementary brick-and-cement strategy (distribution and marketing strategy) so that awareness is created and demand for our product arises, and to meet that demand product accessibility is simultaneously created. One phase of marketing would be mass marketing through TVC aired on the national television channels, radio infomercials, postering around villages, and wall advertising on municipality market buildings inside bazaars. The dedicated and multi-dimensional management bodies are working hard to succeed our venture.
Financial Sustainability: What is your business model to ensure financial sustainability?
Our start-up cost is $123687.5 funded through 60% from venture capitalists and 40% from equity infusion. The revenue is generated through its potential sales volume due to its cheaper rate. Our target sales is 80% of total production and the estimated net profit is $(3106), $31925 & $94093 respectively at the end of the first, third and fifth year. The NPV, IRR and payback period are $42785, 33.48% and 2.92 year consecutively.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.
In 2012, we have developed an idea namely LifeChair for the disable people and priced at $40, which is one-eighth the price of a traditional wheelchair. It is mainly made from bamboo and has two unique features such as reclination & two-portion interlocking tables. We have also developed a counseling firm named FutureStartup.com which is working for the segmented consumers who want to be entrepreneur and bolsters entrepreneurial zeal & knowledge.