Updated Mar 09, 2020

Re-engineeringe the input supply, financing and marketing in the aquaculture value chain

www.oluadepefarms.com

Olusegun Mayungbe

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Oluadepe Farms Nigeria LTD, an Agritech company is re-engineering the input supply, financing & marketing to create on-demand access to inputs, financing, advisory and market linkage to smallholder fish farmers through web and mobile app.

Our business model with web and mobile application will give on-demand access to; - High-quality fish feed with comparative cost advantage to an imported feed using mostly local raw materials - Superior juveniles breed with faster growth - Full financing to scale farmers operation and profitability - Advisory and technical support by extension workers to maximize output - Technology suppor...
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Our business model with web and mobile application will give on-demand access to; - High-quality fish feed with comparative cost advantage to an imported feed using mostly local raw materials - Superior juveniles breed with faster growth - Full financing to scale farmers operation and profitability - Advisory and technical support by extension workers to maximize output - Technology support to monitor farm activities The combo pack is currently not available in the market
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Stage 2: Research & Development

We are working on the proposition delivery technology Our development team has created the flowchart for the financing part of the program, the UI/UX developer is currently on the UI design while the backend developer is about to start coding.
Registered in Nigeria as For-Profitin Nigeria as For-Profit

Focus Areas:

Aquaculture, Food Safety and Standards and Processing & Production

Aquaculture, Food Safety and Standards and Processing & ProductionSEE LESS

20
Customers
2
Employees
$42,000
Funds Raised to Date

Problem

Nigeria currently produces only 1/3 of 3.3 million metric tons demanded. Major challenges of smallholder fish farmers are; 1. Access to finance 2. Access to quality input 3. Access to advisory 4. Access to market linkage. Oluadepe Farms Nigeria LTD, an Agritech company is re-engineering the input supply, financing & marketing to create on-demand access to inputs, financing, advisory and market linkage to smallholder fish farmers through web and mobile app.

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Solution

Our Agritech platform will adopt an integrated approach to provide on-demand access to major challenges hindering the growth of smallholder by linking them to; - A high-quality fish feed with a comparative cost advantage - Superior juveniles breed with faster growth - Full financing to scale farmers operation and profitability - Advisory and technical support to maximize output - Technology support to monitor farm activities The combo pack is currently not available in the market

Target Beneficiaries

We have 3 classes of customer with different packages to meet their need and profile. 1. Prospective and existing smallholder fish farmers with less than 7000 fish population - full input financing for a production cycle 2. Smallholder fish farmers with more than 7,000 fish population - 50% input financing for a production cycle 3. Large scale fish farmers - 50% input financing payable in 30 days

Mission and Vision

Our vision is to create a sustainable and mutually beneficial fish value chain in Nigeria that benefits all stakeholders. We aim to facilitate economic development, poverty reduction, food security, and livelihoods for poor farmers, especially women and youth. Our mission is to be the first choice aquaculture chain business guided by integrity and social awareness, providing a holistic platform for critical value chain actors to synergize towards achieving economic benefit for all.

Competitive Advantage

Full Financing - We will be the only input supplier offering 100% financing to farmers. Superior fish feed quality - Our fish feed formula was developed by experts to match the superior quality of imported feed. The feed will be sold at a price of 10% above self-produced farmers’ feed and approximately 10% below imported feed. Technology backed quality assurance - We will utilize innovative mobile technology that enhances productivity by tracking the fish feeding, growth, quantities, and health, even in remote low bandwidth environments. Also, we are working on a platform to give on-demand access to resources for smallholder fish farmers to increase their productivity and income. Founders have hands-on experience and a member of different farmers association with a nationwide membership of more 100,000

Planned Goals and Milestones

Our goal is to raise $500,00 as a loan or Equity for the initial setup of our hatchery and feed mill operations. While the primary function of these operations will be to provide the necessary inputs for our client-farmers to raise fish and sell when mature, using our technology platform to connect farmers to the resources hindering their growth. Our technology product is in development and an MVP should be ready by May 31st 2020.
Funding Goal500,000
Projected Cumulative Lives Impacted12,000
New Implemented CountriesNigeria
RecruitHatchery staff: 10, feed production staff: 15, management staff: 5, admin support staff: 15, sales and support staff: 30, Developer: 8
New FeatureAccess to input, Access to financing, Access to advisory, Access to amarket

The Team Behind the Innovation

Olusegun Mayungbe, Male, Founder and CEO with over a decade of deep knowledge of aquaculture value chain Jesuyomi Alikwe, Male, Co-founder and CFO, is a Chartered Accountant with experience in managing corporate accounts. Oyeboade Makinde, Female, Co-founder, NED with over a decade experience in an agricultural enterprise. Ahmed Oyetayo, Male, COO, with experience in Animal Production and Health Chinedu Adibe, Male, CTO, Software engineer with many years of experience

EXECUTIVE TEAM INCLUDES WOMEN

Milestone

Mar 2020
Recognition ReceivedPENDING
ORGANIZATIONMass Challenge
Mar 2019
Recognition ReceivedPENDING
 
as part of
 Mass Challenge
Feb 2019
Recognition ReceivedPENDING
Aug 2018
Recognition ReceivedPENDING
 
as part of
 Mass Challenge

Supporting Materials

Mayungbe-Oluadepe-Farms-Nig-LTD-orientation-null.pdf