Vendy

Vendy is an initiative to develop and manufacture a vending machine Eco-system produced in Bangladesh. Vendy provides a fully functioning, IoT enabled vending machines that can dispense any products based on the requirements. As an IoT solution, our vending machines are Mobile Financial Services (MFS) enabled. Hence, selling necessary or beneficial products through a vending machine will let micro-entrepreneurs do business 24/7.

For instance, catering sanitary napkin through Vendy in the garments, workplaces where women don’t have emergency access to hygienic products. On the initial level, Vendy is focusing on reducing the obstacles and misery faced by service-holders in office, women labor in RMG & manufacturing factories, residents of residential/ housing estates of Dhaka and so on. Vendy is on the way to create an ecosystem that not only will dispense products in real-time also empower micro-entrepreneurs to set his/her own vending machine in his/her community.

The vending machine is to serve the necessities of consumers at any time. Usually, the denizen of any residential areas or people residing in factory dormitory or EPZ areas doesn’t have access to products anytime. We provide flexible, convenient and user-friendly vending machines to the chandlers, corporate office, academics, factory to fulfill the demand of the general people, service holders, workers and so on, A chandler gets the data of the inventory as well as the payment through the web panel. A fully set IoT device to make the life of the people easier than before. As well as we are working on reducing unemployment and building the communities in a better way. We are developing an eco-system from where unemployed people from anywhere can turn themselves into a mico-entrepreneur. Our real-time data will provide them the inventory data so that they can run the business in an efficient manner. And from the consumer-end, consumers who live in restricted, remote areas will have the necessary products at any time.

Our solution is made in such a way that any entrepreneur can set up his/her venture at anyplace. For instance, there are more than 13 thousand community medicals in Bangladesh and 73% of people about the unavailability of necessary medical kits e.g: Orsaline, Bandage, Sanitary Napkin, etc. Or in the restricted and remote area, exporting zones, people don't get access to necessary products e.g Women Hygiene, snacks when it's emergency. The end-users are the consumers who feel the problem on a regular basis. And also the entrepreneurs don't get access to setting up a retail shop at any place as well as operate at any time. The gap is getting larger day by day. 

We, Vendy, come up with a convenient, user-friendly and smart vending machine for those entrepreneurs who can serve products to the consumers and the consumers will get the product in. From this Eco-system, the entrepreneur will get financial benefits to earn more money. We consider our culture, people buying perception while designing our machine. 

We want to build a vending machine eco-system for both entrepreneurs and consumers. The machines are being developed by our team and we are researching on making the machine in less cost with smarter technological functionalities. For now, our vending machines are different from the traditional ones because we are focusing on making the payment method fully digitalized. More than 60% of our people have mobile financial service e.g bKash, Surecash, etc. Our IoT enabled smart vending machines to have the functionalities to take digital payment and deliver the product in real-time.  

There are two ways to purchase products from Vendy. The first one is, when a person goes to a nearby Vendy, he/she has to open his/her smartphone and scan the QR Code inscribed on the machine to do the payment. From the MFS App, he/she can select the product and the quantity. The server will receive the data and automate the machine to dispense the product he/she has ordered. And the second one is for the one who doesn’t have a smartphone. He/she will get the detailed instruction from the inscribed manual on the machine. He/she has to go his/her MFS service by dialing the USSD. From there, he/she can make payment and select the product and quantity easily. A simple way to collect the product in a real time with human interaction. 

From the Entrepreneur-end, the one who will own the machine will get an admin panel from us. From where he/she can check the inventory easily with real data. A notification will be sent to him/her whenever a refill needs. 

We are in the process of making an eco-system. A vending eco-system which will give the opportunity to the youths to do business by themselves and the consumer will get the things they need from anywhere and anytime. And the technical solution is another innovation for us. A lot of products, like women's hygiene products still people see that as a taboo. Women feel hesitate will buying the products in front of human interaction. The machine reduces hesitation as human interaction is absent while purchasing the product.

Currently, we serving one company with the machine. We are working heart and soul to deploy more than 200 machine on the upcoming year. We are focusing on creating an enormous number of entrepreneurs, not the number of machines to deploy. In the five years down the line, we will create entrepreneur in huge numbers who earn money from selling products from our thousands of deployed products.

To create an Eco-system that creates an enormous number of entrepreneurs. And making a better life for the consumer to get the necessary products easily and convenient way.

As a vending machine manufacturer, we are facing financial and technical barriers most. Due to a lack of financing, we have a barriers to produce more products. As our Vendy is an IoT enabled, we need to do lot of Research and Development. The availabilities of technical products are the other barriers to that. Our goal is to make smart, IoT enabled the product at a less cost than the market so that, our entrepreneurs can get the advantages of serving the consumers. To attain the goal we need to research more and inject for finance to smooth up the production line. And the market is not developed yet. To develop the market we will need to work from the root.

Financial: Currently, we are doing the R&D and the production from our self-funds. And also, we have some orders in the pipelines. Our plan is to develop the business from selling the products as much as possible. For expanding the business, we are approaching the ventures and angels. 

Technological: We are using local products for R&D. We surveyed and visited the market all around Bangladesh to get raw materials cheap. In the near future, we will hire vendors for delivering the raw materials.

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4

Full-time Staff

1. Md Sharif Muktadir 

CEO

2. Bidyut Debnath

CTO

3. Md. Waliur Rahman

Hardware Engineer, Lead

4. Omar Bin Reza

Head of Business Research

The team consists of good technical and business know-how people. The hardware geek knows to build the machine in an efficient and effective way. The software genius who is also an IoT trainer knows every single path to run, operator and design any system. The CEO, an IT graduate who has turned in a sophisticated and experienced business person from establishing and running three companies. 

A. Name: Md. Muktadir Sharif

Designation: CEO

Background: An IT graduate with 15 years of experience in the VAS industry as well as successfully established three other IT startups. 

B. Name: Bidyut Debnath

Designation: CTO

Background: An IT graduate with 4 years of experience in the IT industry as well as an IoT trainer in Divine IT Ltd.

C. Name: Md. Waliur Rahman

Designation: Hardware Engineer Lead

Background: A machine geek who spends more of his time in breaking and building new machines. An ECE graduate with vast knowledge of the hardware.

D. Name: Omar Bin Reza

Designation: Head of Business Research

Background: A business graduate with experience in Strategy, Brand & Business Model Designing & Entrepreneurship. 

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1. Value Propositions

   1. Easy & secured Payment collection

      1. Cashless MFS system will eliminate the risk of thefts

      2. No issues with changes or Quality of notes

      3. Better calculation of profit, vat, tax etc.

   2. Cost-Efficient (Cheapest) Deployment

      1. Locally Manufacturing ensures the cheapest prices.

      2. Educated Unemployed young people can start this business easily.

      3. The vending eco-system will create an extra micro-business channel for the new entrepreneurs. 

   3. Local buyers behavior-driven design

      1. The device interacts with users better. 

      2. Terminal Less and Wall embedded design will reduce damages cost.

   4. Smart Software-driven system 

      1. More control over Supply and Delivery

      2. Analysis of sales data. 

   5. Winning over the social stigma

      1. Buying Sanitary napkins or condom without human intervention would improve social Hygiene situation

2. Customer Segments

   1. Micro-entrepreneurs

   2. NGOs

   3. Corporate Organizations

   4. Education Institutions

   5. Residential Areas

   6. Garments & Factories.

   7. Hotels or Hostels

3. Channels

   1. Physical  Channel

      1. B2B sales

      2. Sales Partners

      3. Lead generation through Social Awareness Campaign/ Activities.

      4. User referrals/words of mouth

   2. Virtual Channels

      1. Web Page

      2. Apps

      3. Lead generation through Social 

4. Revenue Streams

   1. Selling of the Machines

      1. Approx: 20,000 BDT up to 150,000 BDT

   2. Maintenance and service charges (Includes Server & Data Management)

      1. Approx: 500 BDT up to 5,000 BDT Per month

   3. Advertisement Revenue

      1. In APP advertisement.

   4. Approx: Depends on the MoU with Brands

   5. Rental revenue from Digital Advertising Spaces

      1. Approx: Depends on the MoU with Digital Advertising Firms 

1. Revenue Streams

   1. Selling of the Machines

      1. Approx: 20,000 BDT up to 150,000 BDT

   2. Maintenance and service charges (Includes Server & Data Management)

      1. Approx: 500 BDT up to 5,000 BDT Per month

   3. Advertisement Revenue

      1. In APP advertisement.

   4. Approx: Depends on the MoU with Brands

   5. Rental revenue from Digital Advertising Spaces

      1. Approx: Depends on the MoU with Digital Advertising Firms 

2. Raising Capital Investment

3. Grant

To get to the more root and development of the business. Tiger Challenge provides strategic and operational support to the selected startups. To build the vending Eco-system, we will be in need of strategic and operational support. And to expand the business in the country as well as outside of the country, financial support is must need.

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Ministry of Heath and Family Welfare

UNDP

ADB

Differects FMCGs