“SOTEJ” is a social venture that create a market place for farmers where farmers can sell their product at a proper price. SOTEJ also provide micro fund to the village people who are not financially able to start their own farm. They can repay the money by selling product to SOTEJ. We have SOTEJ club in village areas. Club members collect the product from farmers then reach to the common collection point. We have some highly modified van that supply the fresh product daily to the urban people at an affordable cost. So lower income people can afford them easily.
3 Minutes Video Pitch
3 minutes video pitch link is here: https://www.youtube.com/watch?v=7cepRGWyy_M&feature=share
We are doing crowdfunding in different ways to reach the people of different sectors and class in Bangladesh. We have taken some effective initiatives for crowdfunding. As crowdfunding is not so welcomed by the people of Bangladesh for some years. So for our crowdfunding we bring some uniqueness. Basically we are collecting funds through offline. We give rewards like crest of Sotej for crowdfunding. We also collect fund via bkash, rocket and other banking system in different social media platform. This is the link of crowdfunding
We are getting positive response and feedback as well as getting appreciation. For more information contact us through email@example.com or our facebook page.
The journey of our crowdfunding- YOUTUBE LINK
Some photos captured during crowdfunding
(A Dream of a Developed Life)
Agriculture is the pillar of economy in Bangladesh. In rural areas about 80% people are engaged in agriculture. But the saddest fact is, according to iccdr about 60% farmers earn below 70-80 taka ($1 USD) per day. After the liberation war of Bangladesh from 1971 to 2018 there are so many changes in our country but there is a very little change for financial condition of farmers. Farmers do not get proper payment of their product. So they are deprived of their basic needs because they are not financially able to afford proper food, medicine and others things for their family and themselves. Sometimes they are starving for days, their children are also deprived of education. As their financial condition is poor so they are not able to get medical support, as a result they die for lack of medical support. In Bangladesh farmers lead their lives with sorrow and sufferings.
On the other hand, in our country about 43% people are suffering from food poisoning. In our country vendors use excessive use of chemical to preserve food and look that food fresh. So people are not getting nutritious food. According to UNICEF, the rate of malnutrition in Bangladesh is among the highest in the world. Millions of children and women suffer from one or more forms of malnutrition. About 50% pregnant women and 30% non-pregnant are suffering from malnutrition, 50% adolescent girls are under weight. Today malnutrition not only affects individuals but its effects are passed from one generation to the next and their sufferings have no bounds.
Identify social problems:
- Lack of proper payment and social support of underprivileged farmers
- Malnutrition and food adulteration
- Obstacles towards economic growth in agriculture
‘’SOTEJ’’ the ultimate solution
SOTEJ is a social project that is coming forward to solve the addressed social problems. We create a farmers friendly market where farmers can get proper payment of their product. Sotej is a platform that create a direct linkage between farmers and customers. We collect the product from farmers at proper price and sell them to the urban people at an affordable cost.
In our country Most of the farmers in rural areas get 4-5 taka per kilogram of any product. So their financial condition is very poor. There are intermediary or vendors between farmers and customers and vendors are selling the same product around 50-60 taka per kilogram of a product in urban areas. Bank refuse to provide loan to the poor people in the village so they are not financially able to start their own farm. So they have to work in others farm at a minimum wages. On the other hand urban people can’t get fresh food because the products are contaminated with excessive chemicals.
We are working to solve this problem.
· We create a market place for farmers from where the farmers can get proper payment of their product.
· We provide micro fund to the village people to start their own farm and they can repay the money by selling their product to us.
· We sell the fresh product to the urban areas at an affordable cost.
1. About 60% farmers earn below $1 USD (80 taka) per day.
2. 50% pregnant women, 30 % non-pregnant women, 30 % adolescent girls are underweight.
3. 43% people are in health risk and 5.3 million people are suffering from many diseases for food adulteration.
Ensuring proper right to the farmers and providing fresh food for everyone at an affordable price.
Bringing economic development to the nation by ensuring development in agriculture and proper nutritious food for a healthy life.
(Nobel Laureate Prof. Yunus’s magic of 7 )
- Business objective is to solve social problem which threaten people and society; not profit maximization.
SOTEJ is the solution for giving proper right to the farmers and solving food adulteration problem that is crying need in our country for a long time. Our project is not concern about maximization profit rather than solving social problem.
- Financial and economic sustainability.
We are creating job opportunities in both rural and urban areas and also making farmers financially independent so SOTEJ is going to be a successful and sustainable social venture.
- Investors get back their investment amount only. No dividend is given beyond investment money.
Sotej is following the rules and regulations that makes it a Social Business. Our key partners are committed not to demand any dividend in return of their invested money for our Social Business.
- When investment amount is paid back, company profit stays with the company for expansion and improvement.
Sotej will expand the capacity of venture to serve the whole population of the country by the profit generated from the social business for more development. Our target is to provide fresh food for everyone at an affordable price that can fulfill need of nutrition for all and provide more fund for the development in agriculture.
- Gender sensitive and environmentally conscious.
Our business procedure have no harmful effect on environment and also there is no gender discrimination at our social business. We are already working for the women employment to make them financially independent and there are female members in our team that make us complete.
- Workforce gets market wage with better working conditions.
As we are creating employment opportunities so this principle is one of our major concern to ensure better working condition.
- Do it with joy.
To build the developed nation we want to be the change maker to turn the unhappy lives into full of happiness. When our works make people happy it is the strength of us to work with joy.
Business Model Canvas
1. Department of Agricultural Extension: that is the main department to expand agriculture of Bangladesh have partnered with us to provide following supports-
- Provide training to farmers
- To bring farmers under agricultural mechanization by the help of agricultural subsidy
- Provide agricultural prescription during crop production
- Motivating farmers for safe crop as well as echo friendly crop production
- Help farmers to establish market linkage with the help of SOTEJ
- Help farmers to know the real price of agricultural commodity
2. Daffodil International University (DIU): Lab assistance from Dept. of Nutrition & Food Engineering, DIU, for initial Research & Development.
3. Bangladesh Venture Capital Ltd: One of the successful VC firms in Bangladesh. They have partnered with us to provide necessary mentorship, business know-how & become possible future investors.
4.Rural Development Society (RDS): it is a non-government organization which is working for social people for their betterment. They have partnered with us to provide us supports like marketing and creating networking among people.
5.Tarail Sub district Council of Kishorganj: one of our major partner to provide us legal supports (Trade license etc.) and administrative supports (Creating Network, marketing etc.).
6.Bismillah Buying house: It is one of the commercial business in Narayanganj, have partnered with us. They will make order of product from us.
- Social Business Research Center (SBRC) [Research partner]
- Department of Nutrition & Food Engineering, Daffodil International University (DIU) [Lab assistance]
- Bismillah Buying House
- Daffodil Business Incubator [Logistics support]
- Rural Development Society [Key marketing channel]
- Department of Agriculture Extension [Machinery support]
- Tarail Sub District Council [legal and administrative support]
- Bangladesh Venture Capital Ltd. (Mentoring, possible future funding and strategic partner)
- SBSF [Human resource]
IS THE BUSINESS FEASIBLE?
Following aspects ensures the feasibility of our product-
- Experienced Agriculture expert to help us in crop production and trained up farmers.
- Experienced Food and Nutrition Expert to help in food quality assurance.
- We have Business experts and advisers who can guide us for their activities regarding social business.
- of Agriculture Extension agree to help us with advising and Farming Machineries.
- We have strong marketing channels and social network support.
- We have vast number of consumer as well direct selling points at urban areas.
- Proper partners and resource providers.
- Strong public relation support in from NGO and others.
PRODUCT PRICING STRATEGY
SOTEJ is creating a unique market place for farmers. Farmers sell their product directly to SOTEJ to get proper payment of their product. After that we will maintain two production line, one is for lower income people (like garments workers, rickshaw puller, slum people, day labor) and another is for middle and upper class people. Our aim is to provide fresh food at an affordable price for everyone. We have SOTEJ club in different areas where product are collected by the club members from farmers then by transportation these products will reach at a common collection point at urban areas. We have some highly modified van which will be distributed in different places in urban areas where customer can buy product directly from these vans. We have a selling zone besides garments factories, industries where we can reach to the lower income people easily. We have a unique idea to make combo offers of products, small packages at a low price to make them affordable to the lower income people and maximize the sell at minimum price.
Visual representation is given below :
HOW IS THE COMMERCIAL POTENTIAL?
Following aspects ensures the commercial potential of our business-
- As farmers do not get proper payment and enough funds so they accept our service warmly.
- As there is very few sectors in our country for employment so we create job opportunities for the people and it is a great chance for us to established our venture successfully.
- People of Bangladesh are now conscious about their health but they don’t get the opportunity to have fresh food from the market So, We have already huge customer to buy our product.
- Strong partners to help us execute our social business successfully.
- Strong marketing and promotion partners.
SOCIAL SIGNIFICANCE of “SOTEJ”
World is changing day by day and raises so many advantage but we forget to think about the most important think that who are needy and what should we do for them. We have to think not only a sector but also a sustainable solution for them that can change the worst social condition. We have a social business SOTEJ that is coming forward to enrich social harmony. We are trying to reduce the worst situation of the people who are deprived of their rights and lead a sorrowful life. We are working for those farmers who works very hard but do not get proper price of their product. They do not have sufficient money to for cultivation. On the other hand people do not get fresh food in urban areas because there are excessive use of chemicals in every product for long time preservation and looking them fresh. People are suffering a lot and getting various types of physical problems. We are working for those farmers as they can get proper price of their product and people also get fresh organic food.
“SOTEJ” – “The Change Maker”:
Our social business venture, SOTEJ is working to make a change in the society. We want to establish social justice for the farmers and customers. As our pillar of economy is agriculture so, if farmers are deprived of their rights it may bring a threat to our economy. If we want to secure the future of our people we need to make change for them. We believe that if our farmers get their rights then it is possible to make our future better. And we want to provide fresh food to the urban areas as the lower income people also afford nutritious food from us.
So we think our work can create a better tomorrow.
Competitive advantage of our project
Impact of SOTEJ
- Farmers will get their rights and proper payment of their product.
- Creating employment .
- Creating Women Empowerment.
- Fresh food for everyone at an affordable price.
- Increase Economic growth.
- Increase per head income.
WHAT MAKES US DIFFERENT AND UNIQUE?
Firstly we provide micro credit to the village women and farmers. By this fund they start their own farm. They repay the money by selling their product to SOTEJ. They do not have another pressure to repay us by money. We do not have any interest on this fund. They just repay the money that they get from SOTEJ by selling their product to us.
Secondly we are creating a market place where farmers can sell their product at proper price. Their income will be double and they will become financially independent. We are creating an opportunity for them to lead a happy and healthy life.
Thirdly SOTEJ is a platform that create a linkage between farmers and customers. We will collect the fresh product from farmers and sell them to the urban areas. As we sell that fresh product at an affordable cost so lower income people can afford them easily. It can reduce the food adulteration risk of the people.
Finally from farmers to customers there are some stages to manage our product. To supply the product from urban area to rural area there are many employment opportunity for the people.
SOTEJ is unique and we believe that we can change things for the betterment of the people of our country.
Our Precious Captured Moments
Youtube link – https://youtu.be/HeI7gsINDpg
Our Activities done by crowdfunding
(Provided 800 ducklings among 10 families)
Our Field Works
(In Kishoregonj and Narayangonj of Bangladesh)
Our Campaign in schools to create awareness about proper need of Nutrition