Updated Apr 18, 2019

Nicolás Serrano

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Georeferenced open data platform for small entrepreneurs' business intelligence

Imagine you are a baker and want to open a new business in town. You can go to our platform at www.inno-maps.com and open the free version map. On it, you can see the demographic distribution of the city and localize the most populated neighborhoods, you can also compare zones by their spending power levels (calculated using the census raw data and an economic model). After that, you could see ...
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Imagine you are a baker and want to open a new business in town. You can go to our platform at www.inno-maps.com and open the free version map. On it, you can see the demographic distribution of the city and localize the most populated neighborhoods, you can also compare zones by their spending power levels (calculated using the census raw data and an economic model). After that, you could see your competitors and choose a zone that is not saturated, it will be better if you are the only bakery in the neighborhood. Finally, you can see points of interest such as tourist attractions, parks, plazas, and squares to see if the area you choose will be crowded most of the time, the public transportation lines can give you a good insight about this too. At the end, you could decide where to locate your bakery but if after watching all that information you still feel unsure, you could hire our local analysis team by a small fee and we can guide you until you find the best location.
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Stage 3: Proof of Concept

We built our website and web platform. We have 50 users in our free version and 3 potential customers. We could help entrepreneurs raise their chances of last beyond 2.5 years.
Registered in Ecuadorin Ecuador

Focus Areas:

Data/Analytics, Entrepreneurship and Youth

Data/Analytics, Entrepreneurship and YouthSEE LESS

Implemented In:

Ecuador

EcuadorSEE LESS

1
Country Implemented In
10
Customers
3
Employees
$3,500
Funds Raised to Date

Problem

Ecuador, a developing country, leads on the 2017 entrepreneurship rank (GEM Report). But this hides the fact that 2 out of 3 businesses close after 3 years. Entrepreneurs like bakeries, food shops, hair salons, in Latin America are mainly driven by necessity. These entrepreneurs usually lack formal business knowledge or funds to pay for previous business analysis. These cases have high probabilities of failure and they would not only leave the entrepreneur unemployed but all the team as well.

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Solution

As a science team, we created a tool to solve this problem. We saw that Ecuador have enough open data that could be used by entrepreneurs to choose the best location for their businesses. This data is composed of registered business addresses, transportation lines, census databases, etc. You can visit it at www.inno-maps.com. We launched our first version but we are continuously working on it with users feedback and new knowledge to make the best product possible.

Target Beneficiaries

1. Entrepreneurs who are starting their businesses and want to find the best location for it. The tool can help them see all the city's features and be able to take a decision well informed. 2. Business analysts could check the best route for distributing their products or creating visiting tours for possible clients. 3. Policy makers could visualize which urban areas need more economic development and create public incentives to promote it.

Mission and Vision

1. We want to increase the chances of success for all entrepreneurs by using available open data which has not been fully used from previous platforms. 2. We want to promote the urban economic distribution and help cities become more productive, more sustainable and more robust to keep receiving people (according to UN, half on the population will live in cities in the next 5 years).

Competitive Advantage

Our competitors usually charge too much for business analysis because of the logistical cost of hiring people to gather data. We are using available data and therefore we can offer a cheaper price. The business model is not only focused on starting entrepreneurs but also on existing companies who would like to improve their products distribution routes. This will help them save fuel and time so they will be able to reach more customers. Policymakers can also take advantage of our free version to take their decisions or hire our local analysis team to help him/her find the best solutions for the whole community.

Planned Goals and Milestones

We want to keep growing our platform services to multiple countries in Latin America. In order to improve our costs and been able to offer our businesses analysis to more people, we want to create an A.I. system so these businesses analysis can be performed automatically. We want to create different online services for small entrepreneurs like an online sale management system, which will have a small monthly fee and it will help them keep a record of their incomes and outcomes.
Funding Goal1,000,000
Projected Cumulative Lives Impacted10,000
New Implemented CountriesColombia, Chile, Peru
Recruit2 management, 3 web developers, 2 computer scientists, 15 business analysts
New FeatureCreate a online sale management system in order to offer entrepreneurs an additional service. This will help us get more data to improve the map.

The Team Behind the Innovation

We are studying at Yachay Tech, a university part of an ambitious project in Ecuador to create a City of Knowledge and improve the country development. We selected Yachay Tech because we believe in our potential to impact society and we wanted to get the right knowledge and tools to do it. Our team is formed by a group of science students (Computer Science, Nanotechnology and Biology), a business student and a strong group of advisors (UN-SDSN Andes Director, Epicentro CEO, etc).

EXECUTIVE TEAM INCLUDES WOMEN AND YOUTH

Milestone

Mar 2019
Recognition ReceivedPENDING
Mar 2019
Recognition ReceivedPENDING
 
as part of
 Hult Prize San Francisco
Feb 2019
New Product Or Service
We created a map for Ibarra, Ecuador
Dec 2018
Recognition ReceivedPENDING
 
as part of
 Hult Prize Yachay Tech
Dec 2018
New Product Or Service
We created a map for Cuenca, Ecuador
Nov 2018
New Country Implemented In
Ecuador

Supporting Materials

Innomaps-Concept-Note-English.pdf