Legendfitz
We are pioneering a new business model in the creative sector that can create entrepreneurs and lift the most marginalized members of the society out of poverty, solving the challenge of good jobs and inclusive entrepreneurship.
This business model is called the earn-as-you-learn business model, that provides learning incentives to student to master the skills and business of footwear production.
This allows for economic inclusion removing finances as the barrier to accessing skills required to build a business while creating a pool of young entrepreneurs who will go on to build businesses that will power our economy locally and globally.
We are solving the problems of good job and inclusive entrepreneurship.
Locally, Nigeria has a very young population of a median age of 17.9 according to Statista.com. This young people need innovative solutions in education that will empower them for the 4th industrial revolution and job creation. This is not limited to Nigeria alone, Africa is the youngest continent on the planet and this solution can be scaled across the continent.
According to the United Nations, Nigeria is projected to become the third most populous country in the world before 2050. Creating good jobs and inclusive entrepreneurship is a pressing need for the country and the continent and Legendfitz is doing just that.
We are adopting a unique business model to solve the dual challenges of education and job creation.
The earn-as-you-learn business model allows us to offer incentives to young aspiring entrepreneurs to master the skills and business of footwear production, eliminating the economic barrier to accessing skills and creating entrepreneurs who will in turn create jobs that will power our local economy.
We are leveraging technology to train young people and provide them the resources they need to make Africa great.
Our target population are young people between the ages of 18-30 who aspire to own their own businesses. We provide them with the knowledge, skills, network and resources needed to create jobs.
- Enable small and new businesses, especially in untapped communities, to prosper and create good jobs through access to capital, networks, and technology
Our solution enables young aspiring entrepreneurs to access the knowledge, skills and resources they need to create jobs.
- Prototype: A venture or organization building and testing its product, service, or business model
- A new business model or process
We do not have a competitor that we presently know of that is doing exactly what we propose. We are merging education and footwear production in a way that creates social impact.
We use digital learning management systems to power the learning of each of our student overlaying it on the teaching that go on offline.
Going digital allows us to access the knowledge of the best minds in the industry around the world as facilitators.
We also adopt technology in the manufacturing and sale of our footwear.
This same technology is used by online learning platforms like Masterclass and Universities like Nexford University.
- Manufacturing Technology
- Software and Mobile Applications
We are using or skills and resources to train future entrepreneurs in the business and skill of footwear production which provides meaningful jobs and grow the economy
- Women & Girls
- Rural
- Urban
- Poor
- Low-Income
- Middle-Income
- Minorities & Previously Excluded Populations
- 1. No Poverty
- 4. Quality Education
- 8. Decent Work and Economic Growth
- 9. Industry, Innovation, and Infrastructure
- 10. Reduced Inequalities
- Nigeria
- Nigeria
Our solution currently serves 10 people. In one year we are looking to increase its impact to 100 people and in five years we would have served more than 600 people
Directly our business will be impacting hundreds of people at any given time in the next few years, indirectly, we would be setting up businesses that will impact millions of lives across the world through what we do.
The barriers include access to funding, technology and trainers, but we have a plan too solve these challenges.
Funding: We will be accessing funds through grants, loans, equity and sales revenue.
Technology: We will be contracting technology firms to build the technology we need.
Trainers: As our network grows, we will work with the best minds in the world to build training modules for our students.
- Hybrid of for-profit and nonprofit
Not Applicable
We have 5 full time staff excluding 2 advisors.
We are a social conscious business. Amongst us, we have more than 40 years of experience in fashion and social enterprise.
We are currently working out partnerships with tech companies and other footwear businesses that can partner with us as facilitator.
We will also work out partnerships with funding organizations to provide startup funding for our entrepreneurs.
Our business model is the earn-as-you-learn business model. It is a novel business model we are pioneering in the creative sector to enable young entrepreneurs learn the business and skill of footwear production while they earn a study incentive on the job.
- Individual consumers or stakeholders (B2C)
We are currently making money by selling our footwear. This is the primary source of revenue for our business and it will be the way we will keep supporting our work. We are also very open to business grants and actively seek them out.
If need be, we would be raising investment capital to scale our impact.
Solve opens our business to a larger ecosystem through which we can access the resources needed to fully execute our solution.
- Solution technology
- Product/service distribution
- Funding and revenue model
- Board members or advisors
- Marketing, media, and exposure
Our solution can be enhanced when the right technology is properly implemented. Getting the right partnership in this aspect will be of great help.
We would also be grateful if we access partners that will help in our product distribution.
We can do greater things and reach more young people if we get a steady stream of funding(especially grants) from partners who are interested in solving the challenge of good jobs and inclusive entrepreneurship.
Having great brains in our Board to provide advice and resources will also help us pull ahead.
Marketing, media and exposure is necessity that will enable us to be known and the right young people find us.
Universities like MIT, who can help us develop a business focused 4-year learning plan for our students and will award them prestigious certificates at the end of the program.
Online learning platforms like Masterclass, to host and sell our footwear focused courses as an additional source of revenue.
Our solution enable new entrants into the labor market to access the skills and resources needed to build a business. With the GM grant, we will fund the building of an ultra-modern learning center to further our mission.
Our solution enable young adults to access the skills they need to build successful businesses that will thrive and create jobs in the 4th industrial revolution.
With the Gulbenkian Award, we will scale our impact across countries and continents.
