| Project Title | We offer a service that caters for teenagers, tourists, ported subscriber mobile prepaid who have unused airtime credit or data and turn them into digital cash with no expiry date. |
| Current Status | Concept / Business Plan |
| Amount Invested | NA |
| Funding Required | RM300,000 or less |
| Description | We offer a service that caters for teenagers, tourists, ported subscriber mobile prepaid who have unused airtime credit or data. iGive is a social entrepreneur service that gives back to community or transfer to other digital currency unlike current mobile prepaid which only transfers to the same operator and expires in days. |
| Business Opportunity | PROBLEM STATEMENT: The current system in place has expiration date on a top-up credit. It is unused and wasted if the user doesn’t utilise or transfer it out. It is also only transferable within the same operator. SOLUTION: The innovation allows mobile prepaid credit to be transferred out as Digital Currency and links up the Telecommunications and Financial Institutions. It overcomes the current problem. MARKET SIZE: Prepaid market in Malaysia is 29 Million user as 2016 and prepaid Average Revenue Per User is 33 20% of user have unused balance of MYR2/month. This estimate MYR14Million unused balance. (Source from BMI 4Q2016 Malaysia Telecommunication Report and www.malaysianwireless.com) VALUE PROPOSITION: |
| Revenue / Business Model | REVENUE STREAMS Transfer fee – credits Transfer fee – reward points Data analytics Advertisement Sponsorship |
| Management Team | Aaron – Founder, ideation (Initial) 20 years exp Telecommunications, Radio Networks, Project Management, MBA(Coventry), Phd Candidate – Artificial Intelligence on Crowdsourcing (UPM) Tengku Razman – Co Founder. 20 years exp Telecommunications, Core Networks, Value Added Services, Project Management, MBA(Manchester) |
| Company Background | Registered on 26Jan2017 Pushing for pre-seeding on several ideas: 1. Devise – Solution to map radio coverage problems, customer complains etc. To propose a new way to manage consumers including getting solutions from the crowd from start to end. MVP or prototype available in native format. 2. iGive – turning wasted expiring credits into “digital cash” 3. iSpeed – A communal effort to make people as law enforcers |
| Funding Milestone | We believe an amount about MYR300K should be sufficient to start off to get demo out with a focus on iGive. The fund will be used hire coders to design the service/product in Mobile App format and also Web-base. |
| % Equity Allocation | 6 to 8% |
| Expected ROI | 2 years breakeven, 3 years onwards growth 15% YoY |
| Risks and Mitigation | 1. Regulations, 2. Resistance from Telecom Operators We will engage with industry leaders to avoid resistance through providing a business plan that embraces their risk as part of a vertical business model for them. Example: We team up with Umobile and turn these credit wastages into digital cash thru the use of a cash card. These cash cards are linked to their group’s merchants affiliates i.e. starbucks card, touch and go etc. |
| Exit Strategies | Cash Out at IPO |
| Company Name | AFS ONE 800 SOLUTIONS |
| Business Address | No 7, Jalan Puteri 11/12, Bandar Puteri 11, Puchong |
| Contact Person | Aaron Franklin Soon |
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