Photo - wifi hotspot
23922

wifi hotspot - loan for business

Nigeria
Market: Internet and IT, Information and media, Computers, office equipment
Stage of the project: Idea or something is already done

Date of last change: 30.11.2017
Min amount of loan
$  5.000
Estimated yield
15 % a year
0
Total required
$ 25.000
Rating
equalizer 165 from 1000
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Also this project:
- is looking for investment

Idea

A lot of technology developments are coming up in Nigeria, phone apps, soft wares and so many others that requires internet connection, but an average Nigerian especially students cannot afford to pay for the internet connection needed to utilize these tech developments ,internet connection is the backbone for all these tech developments.
the idea we are bringing as a solution to this issue is to set up a wifi hotspot in schools, around schools and student living areas, so that users can access the internet from the comfort of their homes/classrooms/offices as the case may be.

Current Status

the project is already on, but no fund to pay for bandwidth

Market

students mainly and mobile device users

Problem or Opportunity

A lot of technology developments are coming up in Nigeria, phone apps, soft wares and so many others that requires internet connection, but an average Nigerian especially students cannot afford to pay for the internet connection needed to utilize these tech developments ,internet connection is the backbone for all these tech developments.

Competitors

mobile phone network companies,and ISP companies do offer data services, but this is not reliable enough and most times is expensive for the average user especially students, because a lot of apps, software updates, research works and school works do consume data alot thereby making it expensive for the user.

Advantages or differentiators

competition mainly from mobile networks is here already but we are using them to our advantage because a student that is in his/her hostel or classroom will prefer to use a faster and cheaper internet connection to work

Finance

200,000 - 300,000 in the first year.

Loan terms

24 months

Interest rate, %

15

Type of pledge

Another

Pledge and assets

my company papers, my academic certificates and my international passport

Solution (product or service)

the idea we are bringing as a solution to this issue is to set up a wifi hotspot in schools, around schools and student living areas, so that users can access the internet from the comfort of their homes/classrooms/offices as the case may be.
mobile phone network companies,and ISP companies do offer data services, but this is not reliable enough and most times is expensive for the average user especially students, because a lot of apps, software updates, research works and school works do consume data alot thereby making it expensive for the user.
our product(wifi hotspot) will address this issue mainly.
and in building this, we are creating a platform that will give birth to so many Ict / tech developments, apps , sites can enter into agreement so that users can have access to such sites free,
the platform is also another avenue for adverts,and a means to build a community connected together on the same network, in the sense that a user connected to the hotspot can share a file with another user.

Risks

the risk is mainly in getting access to cover major locations
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Idea
Current Status
Market
Problem or Opportunity
Competitors
Advantages or differentiators
Finance
Financed earlier, $
Loan terms
Interest rate, %
Type of pledge
Pledge and assets
Business model
Solution (product or service)
Lead creditor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video