THE ENTREPRENEURIAL INSTITUTE (TEI)

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THE ENTREPRENEURIAL INSTITUTE (TEI)

Lagos, NigeriaLagos, Nigeria
Organization type: 
hybrid
Project Stage:
Start-Up
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

The girl child is not guaranteed proper education because of poverty. But we can guarantee that she can become financially independent in spite of that. The four walls of a school will no longer be a barrier to her success. We will educate her and empower her with business and vocational skills.

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if the girl child becomes the solution to poverty by creating businesses everywhere?
About Project

Problem: What problem is this project trying to address?

50.4% of females aged 15 and above have a school life expectancy (primary to tertiary education) of 8 years. This is due to the lack of finances. Many of these dropouts became street hawkers, maids, sex workers to make ends meet for their families. Others are even married off at a very young age to either pay off debts or as a guarantee on loans received from money lenders. No money, no education, no life...this is the story of a girl child!

Solution: What is the proposed solution? Please be specific!

The Entrepreneurial Institute will be the training ground for the girl child. With more than 10 vocational skills to be taught and more than 20 professionals in the various skills, every student of the institute will be equipped with their skill of choice, taught marketing processes and supported in starting their own business. TEI will also have a business arm that will sell the products of students and give them the returns for their use (feeding, education or helping their families). Students will be retained and employed to become trainers. Some will put their skills to use by being a part of THE ENTERPRISE (the business arm of TEI). Students will also be paired with mentors in their chosen skills that will help them launch out.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

We will liaise with as many schools as are interested, visit them and address their students. Following these visits, we will introduce the various trainers of the skills to the students and each one of the trainers will tell the kids about their achievements, their business and how their lives have become better. From this point, we will ask for interested students to signify and with the school's assistance, we will get in touch with their parents, inform them of who we are, what we do and how we want to make life better for them. With their consent, the training of their children. Training will include introduction to and procurement of materials, procedures, branding, pricing and marketing.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

In 2013, we trained 15 ladies on how to make bags, shoes and accessories using African prints. Of these 15 ladies, 5 of them have started a business with the skill. One of them in particular, traveled back to her town of residence and within the space of 1 week, she had 3 customers that she made 5 bags for. She had no job at the time and had no one to depend on but with the training, she had forged her way to financial freedom. Using that example as a point of reference, we are projecting a minimum of 100 students for 10 skills as starters for the duration of 2 months. In a year, a minimum of 1000 students will be trained. 20% of these are expected to start up their own business after the training. This means that 2 out of every 10 girls/ladies will be an income earner after 2 months, supporting herself and her family as the case. Minimum of 200 businesses will be created yearly.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

With a minimum of 200 new businesses on a yearly basis, there will arise the need to hire people. This means that jobs will be created. As poverty is been kicked back into the shadows, unemployment rate will be on the decline one business at a time. With this empowerment, many women will be income earners and this will breed recognition in the society. Their voices, which were once silenced, will be given free expression. Their success rate in their businesses will speak for them and from there, they can venture out into other areas such as politics.
Sustainability

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

The financial sustainability of this initiative is first dependent on the support of clients and other bodies such as government, NGOs, businesses etc. At a point, the initiative will become self-sustainable as revenue generated from students and the products we put in the market will be used to run it. Donations and support from interested parties will always be welcomed.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

There are many people training teenagers and youths in various skills. TEI differs from them all in the following ways: 1. We will be offering multiple skill sets with the option of a combined course for students as opposed to one skill that others teach. 2. We will teach students branding, costing and how to excel in the marketplace as opposed to just teaching them the skill only. 3. We will help our students to sell their products and also give as many as are interested an opportunity to work with us. 4. We will also liaise with NGOs to introduce the skills to the less privileged.
Team

Founding Story

randomness