|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|
|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.
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.
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)
|Revenue / Business Model||REVENUE STREAMS
Transfer fee – credits
Transfer fee – reward points
|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|