Can a beanbag chair solve the country's fabric waste problem? | The Final Pitch

Summary

This video features a social entrepreneur, Akri, who presents her company focused on solving fabric waste in the Philippines through upcycling. She offers eco-friendly, sustainable bean bags made by women artisans using discarded fabric. Akri seeks investment to scale her operations and create a hub for upcycling in the Philippines. The investors respond with offers of financial support, space, and resources. The presentation showcases the potential for both environmental impact and community empowerment, with Akri receiving enthusiastic support from various business leaders for her social enterprise.

Takeaways

• 😀 The entrepreneur specializes in creating eco-friendly, upcycled bean bags made from fabric waste.
• 😀 The entrepreneur's company aims to solve the environmental issue of fabric waste in the Philippines, which amounts to 10 tons per day.
• 😀 The company provides sustainable employment to women artisans, particularly in underprivileged communities.
• 😀 The entrepreneur started the business five years ago by teaching neighbors to crochet using upcycled materials, then expanded to creating bean bags.
• 😀 The product, the app bin bag, is made from 10 kilos of fabric waste, is functional, washable, and environmentally friendly.
• 😀 The entrepreneur is seeking a 2.5 million peso venture loan or CSR grant to set up an upcycling hub in the Philippines.
• 😀 The business currently operates from a garage, and the funding will be used for storage, production, and acquiring necessary equipment such as sewing machines and fabric shredders.
• 😀 The company aims to target retail stores, corporate CSR programs, and local government units for distribution and partnerships.
• 😀 Investors have shown interest by offering funding, facilities, equipment, and marketing support for the business to scale.
• 😀 The entrepreneur received offers for grants, product purchase agreements, space for production, and partnerships with interior designers and e-commerce platforms.
• 😀 The overall mission of the business is to create a holistic transformation in the community by combining environmental sustainability with social entrepreneurship, benefiting both local women and the planet.

Q & A

What is the focus of the business mentioned in the script?

The business focuses on solving the fabric waste problem in the Philippines by upcycling fabric waste into products such as bean bags. This business also aims to create sustainable jobs, especially for women artisans in local communities.

How did the entrepreneur get started with this business?

The entrepreneur, who comes from a third-generation family of artisans, developed a passion for upcycling home furnishing accessories and fashion items. This led to the creation of the business, which started five years ago by selling crochet supplies and teaching neighbors to create upcycled handicrafts.

What problem does the business aim to solve?

The business aims to address the significant amount of fabric waste generated in the Philippines, with 10 tons of fabric waste sent to landfills daily. The business also aims to provide jobs for garment workers who lost their employment due to the pandemic.

What is the product being offered in this pitch?

The entrepreneur is offering an upcycled bean bag made from 10 kilos of fabric waste. The bean bags are environmentally friendly, comfortable, washable, and functional, particularly in the current work-from-home and study-from-home settings.

Who is the target market for the products?

The target market includes retail outlets like Wilcon, corporate CSR initiatives from companies like Converge and Multi-Seas, and local government units. The business also seeks to supply products for office use and corporate giveaways.

What is the funding the entrepreneur is asking for?

The entrepreneur is seeking 2.5 million pesos, which will be used for setting up the first upcycling hub in the Philippines. This funding will help with acquiring facilities for storage and production, as well as purchasing additional equipment like sewing machines, fabric shredders, and sterilizers.

What type of partnership offers did the entrepreneur receive?

The entrepreneur received several partnership offers, including a loan with six percent interest for five years, grants, product orders, and offers for business space and equipment. Additionally, there was an offer for profit-sharing and a grant for the project from various companies and local government representatives.

How will the entrepreneur use the funding from the investors?

The 2.5 million pesos will be used to establish a facility for production and storage, purchase necessary equipment like fabric shredders and sewing machines, and ensure the products are sanitized with sterilization equipment.

What was the response from the potential investors?

The investors expressed strong interest in the business, praising its social and environmental impact. Some investors pledged to provide funding or space for the business, while others offered to assist with e-commerce platforms and nationwide delivery solutions.

What is the message the entrepreneur has for their artisans and community?

The entrepreneur emphasizes that the success of the business is not just her own but also a collective achievement of the community. She expresses gratitude for the support of her artisans and community members and stresses the positive impact the business will have on them and the environment.