Our project is called: Post COVID-19 Graduate Unemployment Solution
1. The problem your project solves
During this time, when COVID-19 is savaging the world, many employees with huge work experience have lost their jobs. Meanwhile, universities, colleges, and all other professional development institutions are equally producing graduates at different levels of education and disciplines. Who is going to employ these fresh graduates or which organizations are going to create jobs for them?*
This means that almost 100% of 2020 graduates are likely not to find jobs. This is because both the public and private sectors have run out of financial resources. They can't afford to hire new employees. The story is not any different in both international organizations and civil society. This is 2020 we are talking about! How about 2021 graduates? The 2021 graduates will graduate in a labor market which is still recovering from the post-COVID-19 effects. A good percentage of experienced employees furloughed in 2020 will still be unemployed. This is a huge problem for our education system, our economies, and the world at large
Employers at all levels from economic sectors are going to take an estimated 5 years plus to for their organizations to get back to 100% operations. This article from the Washington Post clearly, shows the impact of the 2008 financial crises on the US economy up until 2017 link. So, unemployment and underemployment among graduates will be at its highest ever for the first time in every single country across the world.** Non-conventional measures are desired to create employment opportunities for fresh graduates. This is why we have developed this virtual startup incubation program, which helps individuals graduates learn and develop entrepreneurship solutions founded on their skills and experiences in five key areas: the individual person, the business entity, the product, the customer and the market**
So, our solution seeks to empower potential graduates and both the unemployed or underemployed graduates in the process of creating their own employment opportunities either as individuals or as team working on a similar idea.
2. The solution you bring to the table (including technical details, architecture, tools used)
A meritocratic and self-paced virtual learning environment where participants join as individuals, learn the process of entrepreneurship from five perspectives a mentioned above i.e. the individual themselves, the creation of a company, the development of an idea into a product, the development of customers, and building a sustainable niche market for their products.
In our framework, the more successful a participant is having at an induvial or team level the more advanced services or higher-level services they unlock. Firstly they get to come up with an idea, next they identify if there are likeminded people on the platform from their countries or across the world if so they create a team. Third, they start to work on an idea and begin the process of identifying clients. Then we guide them into the competitive landscape and finally guide them into the financial model aspect of their idea. After completing this phase, they apply to join an official six months virtual incubation program.
Technically, our solution has 5 solutions all operating at the very same time to support our users. These five solutions are distributed and accessed in three main categories:
- The learning portal - an outsourced fully proven solution. There is a subject matter on each course to help users customize their thoughts, ideas, and opportunities on each course.
- The financial modeling portal, which helps every team or every potential company build and develop their own idea's customized costs and financial projections. This solution is internally developed using LAMP STACK.
- An incubation tool kit with entrepreneurial tools, mentorships by our experts, and 40 workshops built around the 40 milestones of making a new venture. The 40 milestones are distributed across the 5 key areas we mentioned above, and they have been created in a roadmap type of approach for entrepreneurs in the first 12 months of starting the journey of creating a new venture. LAMP STACK. It is a non-linear approach, where every new venture follows what is essential for them at any given time of their entrepreneurial journey.
3. What you have done during the weekend
I have first tried to look for team members, I realized we had different interests and I went ahead to work on my project alone. I invited a team member who lives in Brussels, to join and we worked through google drive and developing the framework for putting together the 40 milestones workshops, and finalized the initial individual entrepreneur's assessment test to help collect baseline data on each participant. This information will be used to curate a unique learning experience fo reach participant and it will help us track the learning and growth of each individual entrepreneur. We worked on building the business model for our incubation program because our minimum viable product is already developed and being piloted with 800 subscribers and 15 companies being incubated right now.
Then we built a market entry strategy for the European member countries and the fact that we are going to need 8 subject matter experts in every language that is used in Europe. These individuals will be our local team in each country. The subject matter experts in the first set of 8 courses will be virtual mentors to our clients in each country that uses another language other than English and French, Dutch, and Germany
4. The solution’s impact on the crisis
The solution is a virtual learning and working environment, with the capacity of helping Europe to create over 100,000 startup companies or new venture in a period of five years. We believe we are well-positioned to create over half a million jobs in Europe in this period.
5. The necessities in order to continue the project
We just need funding. The project is already being piloted. 800 users, 15 start-ups being incubated right now. Our business model and the product has been proven to work and we just need funding and we will be ready to launch in Europe in less than 3 months and start scaling in Europe and all over the world.
6. The value of your solution(s) after the crisis
Our solution is going to be a medium of Post-COVID-19 economic development and transformation. Unemployment and underemployment are some of the key aftermaths of an economic crisis, and the process of transforming graduates and jobseekers into job creators is one that is very essential for economic recovery. Governments and international development partners need a mass entrepreneurship solution that works. To this day, there has never been a mass-entrepreneurship solution that works and thanks to this hackathon, we are now able to give it to the world.
7. The URL to the pitch video (Required)
Inspiration - Norman Musengimana, the founding member of this team grew up as a refugee, it was impossible for him to get a job after graduating in Kenya, back in2004. He decided to go back to his country, Rwanda, where his career began. That time, the economic conditions were business as usual with no effects of a pandemic like COVID-19. It was still very difficult to get an employment opportunity due to population growth and the number of graduates every year in sub-Saharan Africa.
The challenge facing the world today is beyond population growth. It is a pandemic that has tripled many organizations in every country around the world. Today, 2020 graduates and 2021 graduates will be seeking employment opportunities in economies and organizations (both public, and private) that have not yet fully recovered from the post-VOVID-19 effects. Non-traditional measures and approaches are going to be required to help young graduates get required working experiences as well as helping them get employment opportunities.
What's next for Post COVID-19 Graduate Unemployment Solution
We are in the process of finding investors and funding to help us develop our better solution into a final, scalable solution. After obtaining funding, we will hire two developers, an instructional designer, and a graphic designer. Then we will venture into an aggressive business development campaign throughout all EU member countries to have as many graduates join our programs and make sure that we have a specialist in each course we provide in each of the EU languages to mentor graduates from that country.