taslim owonikoko · Sun, 06/05/2011 - 05:59
Business
Business Overview:
We have developed a national/international standardized Lubricating Grease Product ASTM D4950 in NIGERIA with more than 70% local content. The project has enjoyed Federal Grant support to the tune of US$40,000 till date.
A market of about US$26M exists monthly in west Africa presently. We are seeking for Equity investment of US$2M to fully commercialize the project. Contact us for details
email: owonikokobkotry@yahoo.com
website: http://www.berekotry.com
PROMOTER: Taslim Owonikoko
He was just recently recognized by General Electric USA Ecomagination Challenge as
one of the Global Top 100 in New Energy inventions and innovations
http://challenge.ecomagination.com/ct/ct_list.bix?c=ideas
With 5- very young scientific
invention patents to his credit presently, a blog mentioning of his profile as a top world class Genius
can be found at http://www.ideaconnection.com/innovation-stories/a-rejected-solution-to-...
Project Type:
Industry:
Project Location:
iseyin, OY, 202001Nigeria
Project Website:
http://www.berekotry.com What are your future milestones, and how much capital will you need to achieve each of the milestones outlined?:
1st ISO-SON Certified ASTM D4950 Standard in west Africa
We are tageting the $26Million Market currently unmet
We have enjoyed a grant from federal Automotive Agency in Nigeia till date.
What is your total and operating cash burn (the amount you're spending) per month? :
US$9300
How many future rounds of financing do you project? :
FINAL PROJECT FINANCING-TOWARDS COMMERCIALIZATION
Services Desired:
Distribution/Sales
Who is the Customer?:
Automotive, Industrial & Agro-Allied Industry Operators
What is the Customer Pain that you are solving?:
No indigenous Manfacturer presently in West Africa. We have developed Tropical greases at affordable prices and good returns on investment. Also our manfacturing technology is good both in terms of efficiency and economy and the raw materials are 70% local content and green.
Names of any current or recent customers:
FARMERS COOP.SOCIETY, OYO STATE Nigeria
HAJAIG Construction Company -ISEYIN, OYO STATE-NIGERIA
Grace-Agritrac Ltd. Nigeria
What is the Target Market?:
MACHINES & AUTO LUBRICATION
How big is the Target Market in terms of Annual Sales?:
$10M-$100M
Sales/Marketing Strategy:
Open Market Distribution and Industrial Sales Rep. with initial media Adverts.
Provide use cases :
Lubrication of automotives and Agricultural equipment. The majority of inhabitants are aggrarian.
Competition:
Imported expensive brands.
One-line Pitch:
1st ISO-SON Certified ASTM D4950 LUB- GREASE PROJECT IN WEST AFRICA .
Technology
What makes the technology/business unique and have a defendable competitive advantage?:
High temp application ,high local conTent and novelty of technology based on defended R&D GRANT Support from Federal agency on automotive in Nigeria presently.
Describe in detail the technology used in the Project - Address the innovation in significant detail :
Sodium-Calcium Soap Complex Lubricating Grease with 70% local content.
What are the principles of the technology? :
Sodium-Calcium Soap Complex Lubricating Grease with 70% local content.
What, if anything, has been proven (and how far is this from a commercial scale)? :
Standard Organization Of Nigeria Has Approved the certification . Standardization for marketing has been secured.
What challenges/risk does the technology face for commercialization?:
Funding limitation to carry out aggressive marketing.
Patent Numbers (Filed/Approved):
SON-CERTIFICATE No.10031701SSA
No.10031701SSB
Team
| Name | Title |
|---|---|
| TASLIM OWONIKOKO | CEO |
Dr. Umar Bindir
Mr. Biodun Ogidan
Mr. Bello -Romis Consult
Current Investors:
Berekotry Auto-Grease Ltd-Nigeria
Financials
Amount Sought:
$2,000,000 If raising funds, what shall the funds be used for?:
Commercial Production
Pre-Money Valuation:
$5,000,000
Funding Received to Date:
$40,000
Amount invested by Founders:
$1,300,000
Funding Stage:
Pre-Revenue Funding History:
| Funding Round | Funding Type | Funding date | Funding Source/ Investors | Amount | Pre-Money valuation |
|---|---|---|---|---|---|
| Project | Equity |
Internal Rate of Return (IRR):
45% Testimonials
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