Project Everest

Key Partners

[Key Partners] SoCon Fiji July 2019

Aim 

This post will outline the key partners we’ve worked with to assist our research and help develop our MVP. On the customer side, our primary partners are villages with microenterprises. Specifically, this includes our case study villages Biasevu, Vatukarasa and Naroro. It also includes various financial institutions located around Fiji. The post will include a short description of the partner, geographical location, a description of the relationship of the partnership and the hubspot link.   

 

Biausevu Village

 

The village is quite wealthy due to its location near the waterfall therefore a large number of business are catered towards the tourism sector. The headman of the villages is Borro. The team met up with some ladies in the handicrafts sector who had previously received a loan from Micro Finance. They all enjoyed their experience with Micro Finance and ran into no issues with them. Some documentation were made with the amount of sales they produce each week although they did not record the cost. Overall they were all keen to grow and diversify their current business and are interested in the product we’re currently working on to make the process of financial management easier. 

 

Located off Queens road, inland/urban.

 

Biausevu is one of our case study villages that we plan to test out the MVP with, 8 small business owners agreed to test out the MVP for the next 6 months. After the 6 month period the december team will return to the village to determine the MVP retention rate and interview SMEs for feedback. Depending on their findings the team will either make adjustments to the MVP and determine whether the experiment was a success or failure. If the experiment is green light then move onto currency testing, if orange light make changes to the MVP and retest, if red light the team will need to re-evaluate the UVP and identify features SMEs would like and prefer. 

 

Hubspot Link:  https://app.hubspot.com/contacts/5168264/contact/44201/

 

Vatukarasa Village      

 

Vatukarasa is a coastal village with microenterprises mainly in the retail industry, including canteens and kava merchants. Across Queens Road from the village is an Indian settlement which has a mix of agriculture and canteen SMEs. In our visit to the village, we interacted with a couple of businesses in the Indian settlement and numerous in the actual village. Most were highly engaged in our survey and would like to be contacted back by PEV. Many businesses said that they wanted to expand their businesses in the future and would be interested in a product that helps them in their financial management to achieve this goal.

 

Located on Queens road, coastal/rural.

 

Vatukarasa is one of our case study villages that we plan to test out the MVP with, 5 small business owners agreed to test out the MVP for the next 6 months. After the 6 month period the december team will return to the village to determine the MVP retention rate and interview SMEs for feedback. Depending on their findings the team will either make adjustments to the MVP and determine whether the experiment was a success or failure. If the experiment is green light then move onto currency testing, if orange light make changes to the MVP and retest, if red light the team will need to re-evaluate the UVP and identify features SMEs would like and prefer. 

 

Hubspot Link: https://app.hubspot.com/contacts/5168264/contact/715/

 

Naroro Village 

 

Naroro is a large village based near the town of Sigatoka with a medium to large population. This is a well established village with many microenterprises. The residents of this village are extremely friendly with good English and are more than happy to show you around. In our visit the headmen was unable to organise a meeting with local micro enterprises though was very eager to meet up next week. The canteen owners in the village already have a group loan with SPBD, which comes to the village every week to update the loan repayments.

 

Located on Nayawa Street, inland/urban.

 

Naroro is one of our case study villages that we plan to test out the MVP with, 1 small business owner agreed to test out the MVP for the next 6 months. After the 6 month period the December team will return to the village to determine the MVP retention rate and interview SMEs for feedback. Depending on their findings the team will either make adjustments to the MVP and determine whether the experiment was a success or failure. If the experiment is green light then move onto currency testing, if orange light make changes to the MVP and retest, if red light the team will need to re-evaluate the UVP and identify features SMEs would like and prefer. 

 

Hubspot Link: https://app.hubspot.com/contacts/5168264/contact/2365/



Financial Institutions

 

Merchants Finance - Suva 

 

They are a 100% Fijian owned organisation. This institution aspires to be the preferred provider of innovative financial solutions in the Fiji Islands. Their mission statement encompases being a leader in the market as well as being relentless in their pursuit to meet the needs of their customers. The services they provide are personal and commercial finance as well as investment services. 

 

Located across Fiji, we hold a relationship with the office in Suva. 

 

The office in Suva is where we conducted our initial research on understanding the specific identification and financial documentation requirements needed to access a minimum loan and to either establish them as an early adopter, early majority or a key stakeholder for our UVP. After a successful offer test we shared our MVP with them. They were very interested in us, our solution and what the relationship with PEV would look like in the future. They provided us with features they would like to see within the MVP and demonstrated their willingness to be involved in this process. They are eagerly anticipating our return in December and should be contacted for a follow up meeting. 

 

Hubspot link: https://app.hubspot.com/contacts/5168264/company/1094653951

 

Fiji Development Bank - Sigatoka 

 

FDB provide finance, financial and advisory services to assist in the economic development of Fiji and in particular in the development of agriculture, commerce and industry. Their focus is on the economic development of Fiji and bringing success to al Fijians. FDB strive to be innovative, taking advantage of opportunities before competitors and continuously aim to improve their products and services to exceed customer expectations. They aim to exhibit the highest levels of integrity, honesty, transparency, fairness and responsibility. 

 

Located across Fiji, we hold a relationship with the office in Sigatoka. 

 

The office in Sigatoka is where we conducted our initial research on understanding the specific identification and financial documentation requirements needed to access a minimum loan and to either establish them as an early adopter, early majority or a key stakeholder for our UVP. After a successful offer test we shared our MVP with them. They were interested in our solution and provided us with some very helpful feedback regarding features they would like to see it include. They stated that this solution would be accepted as part of their financial documentation. They are eagerly anticipating our return in December and should be contacted for a follow up meeting.  

 

Hubspot link: https://app.hubspot.com/contacts/5168264/company/1078403254

 

HFC - Nadi 

 

HFC are committed to understanding the needs of their customers and strive to offer innovative and competitive products that serve the people with a difference. The services and products they provide include personal and business banking, foreign currency and international services, business lending, housing and personal lending, investments and insurance. Their mission is to contribute to the overall development of Fiji and the people. HFC are invested in the community and this is demonstrated through their various community work initiatives. 

 

Located across Fiji, we hold a relationship with the office in Nadi. 

 

The office in Nadi is where we conducted our initial research on understanding the specific identification and financial documentation requirements needed to access a minimum loan and to either establish them as an early adopter, early majority or a key stakeholder for our UVP. After a successful offer test we shared our MVP with them. They were interested in our MVP and provided us with some very valuable feedback in regards to the need to validate the figures entered into the solutions spreadsheet. They demonstrated an interest in PEV as an organisation and were overall happy with the MVP. They are eagerly anticipating our return in December and should be contacted for a follow up meeting.  

 

Hubspot link: https://app.hubspot.com/contacts/5168264/company/1240088234

 

Credit Corporation - Suva 

 

The Board of Credit corporation have set a new strategic direction for the organization for the next five years. They are focusing on enhancing their customer experience and maximizing shareholder value through superior returns over the longer term. Their mission is to assist in the development of all Pacific Island Nations. Their values include integrity, customer commitment, maintaining the highest standards in all aspects of business, building a strong, honest and motivated employee group. Credit corporation are proud to be a key part in the community which they demonstrate through their various community focused initiatives, particularly within business and education. 

 

Located within the Pacific Island Nations, we hold a relationship with the office in Suva. 

 

The office in Suva is where we conducted our initial research on understanding the specific identification and financial documentation requirements needed to access a minimum loan and to either establish them as an early adopter, early majority or a key stakeholder for our UVP. After a successful offer test we shared our MVP with them. They were relatively happy with our MVP but did not demonstrate a high level of interest. This may be due to their own set procedures or processes regarding financial documentation. They did however provide some valuable feedback on the MVP. As it was highlighted in the meeting with HFC, Credit Corporation too stated that the figures inputted in the solutions spreadsheet would need validating. Once the MVP has been developed further there could potentially be another meeting in December. 

 

Hubspot link: https://app.hubspot.com/contacts/5168264/company/2188812934

 

Carpenters Finance - Nadi 

 

Carpenters Finance currently have 11 business centres located across the country. They offer competitive consumer finance facilities including SME loans, personal loans, auto finance, home improvement, travel finance and insurance services. They aim to make credit more accessible and affordable through their wide network and presence in all major towns and cities, Fiji-wide. 

 

Located across Fiji, we hold a relationship with the branch in Nadi.

 

The office in Suva is where we conducted our initial research on understanding the specific identification and financial documentation requirements needed to access a minimum loan and to either establish them as an early adopter, early majority or a key stakeholder for our UVP. After a successful offer test we shared our MVP with them. They liked the MVP however we were met with some confusion about the relationship and what they thought we were offering them. They were under the impression that PEV was there to solely help Carpenters Finance and suggested we take a representative from their company with us when we visit villages. However they did share that the MVP was something they need and would like. Once the MVP has been fully developed and the purpose of the solution is made more clear through this process, then a meeting could potentially be conducted. 

 

Hubspot link: https://app.hubspot.com/contacts/5168264/company/1157547872

 

edited on 25th July 2019, 04:07 by Stacey Thetephakeaykeaw

Behshid Golshani 1 month ago

Status label added: Key Partners

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