Any advice please?

[Hassan90]

"The difficulty is the opportunity"_ @MJ DeMarco .

I really need your advice Fastlane Forum Members.
I recently discovered an unmet need in my country: Nigeria.
Nigeria was placed second in the global malnutrition burden with 17 million undernourished children. An estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM), but only two out of every 10 children affected is currently reached with treatment.
To address this problem, i decided to start Ready-To-Use Therapeutic Foods (RUTF) manufacturing business.
Currently, there's a high demand for RUTF in Nigeria because there are no domestic production companies, and only the government and NGOs procure RUTF overseas and distribute it.
In addition, the existing supply chain is very weak and people most affected ate not been reached.

But, there are two problems:
Firstly, the RUTF manufacturing business is capital-intensive. About $350,000 is required to start production.
Secondly, i don't have domain experience in the field of nutrition, and this complicated my ability to raise funds either from bank, or private investors.

What do you think i shall do please?
Currently, I am a first-year medical student.

 

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[Isaac Odongo]

Do the math. Others may have better advice but do the math. Seems your target is the NGOs and govt who will buy from you and distribute to those who need it.

 

[DarekW]

"The difficulty is the opportunity"_ @MJ DeMarco .

I really need your advice Fastlane Forum Members.
I recently discovered an unmet need in my country: Nigeria.
Nigeria was placed second in the global malnutrition burden with 17 million undernourished children. An estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM), but only two out of every 10 children affected is currently reached with treatment.
To address this problem, i decided to start Ready-To-Use Therapeutic Foods (RUTF) manufacturing business.
Currently, there's a high demand for RUTF in Nigeria because there are no domestic production companies, and only the government and NGOs procure RUTF overseas and distribute it.
In addition, the existing supply chain is very weak and people most affected ate not been reached.

But, there are two problems:
Firstly, the RUTF manufacturing business is capital-intensive. About $350,000 is required to start production.
Secondly, i don't have domain experience in the field of nutrition, and this complicated my ability to raise funds either from bank, or private investors.

What do you think i shall do please?
Currently, I am a first-year medical student.

In my opinion, you should first check if it is possible for you to succeed in the nutrition industry. You can do this by checking all variables, which would determined can you actually be succeeded or not. For different businesses, it can be different variables. Some of them:
- How many workers do you need?
- Can you reach your client?
- Do you have any distributors?
More about this topic you can read in this thread GOLD! - IDEA - The great way of testing any idea!

Also, you may try with small quantities. Check if your idea would work in your town. Try to do something that will not request a lot of money. In this way you can gain a lot of experience in this industry, and maybe you will find someone who will actually invest in your business.

 

[Practic]

"The difficulty is the opportunity"_ @MJ DeMarco .

I really need your advice Fastlane Forum Members.
I recently discovered an unmet need in my country: Nigeria.
Nigeria was placed second in the global malnutrition burden with 17 million undernourished children. An estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM), but only two out of every 10 children affected is currently reached with treatment.
To address this problem, i decided to start Ready-To-Use Therapeutic Foods (RUTF) manufacturing business.
Currently, there's a high demand for RUTF in Nigeria because there are no domestic production companies, and only the government and NGOs procure RUTF overseas and distribute it.
In addition, the existing supply chain is very weak and people most affected ate not been reached.

But, there are two problems:
Firstly, the RUTF manufacturing business is capital-intensive. About $350,000 is required to start production.
Secondly, i don't have domain experience in the field of nutrition, and this complicated my ability to raise funds either from bank, or private investors.

What do you think i shall do please?
Currently, I am a first-year medical student.

"What do you think i shall do please?"

Try to find people who will agree to work with you on revenue sharing business model.

 

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