Maxime, a young Ivory Coast graduate, observes a problem with plastic pollution in the soil of his country and decides to propose a solution. As part of the remedy, he creates CyClyo, an enterprise to recycle plastic, in the city of Yopougon. The company has some problems to develop its activity but Maxime doesn't give up. In order to give a real boost to his activity, he now has a crucial need for external financing.
What next? Maxime first turns toward a bank which offers to loan him 4.5 million FCFA in exchange for taking out a mortgage on his parent's house. Since this could result in the loss of the house if his business fails, he tries a second bank, which proposes a loan with an extremely high interest rate. This also is too risky since the business is not yet growing rapidly enough to pay off the interest. So he opens discussions with an incubator which proposes to review his project and accompany him in all aspects: the technical solution, the economic model and the creation of a business plan... In spite of the difficulties, the incubator believes in Maxime's project. His family and friends are also behind him. So he decides to launch a crowdfunding campaign to mobilize those who want to support him, gather the funds needed to progress to the next step, and offer more visibility to his project.
Maxime and his team don't master the ins and outs of crowdfunding. They need a platform which is aware of their local issues and which will also allow their local network in the Ivory Coast to contribute. Maxime knows tons of people; and one of them recommends Fiatope to him. That's where we come into the picture
A few months later... CyClyo has come a long way:
• Tons of refuse have been recycled
• Hundreds of products have been upcycled
• CyClyo's productivity has been multiplied by ten
• CyClyo has enriched its contact list and fine-tuned its service offering
• CyClyo was able to hire more staff and buy 3 new machines
• CyClyo was able to digitize some of its services
• There is a measurable environmental impact
And Fiatope is very pleased to have contributed to the development of an ecological and entrepreneurial project which has value.
Maxime's vocation met up with that of Eric Ntonfo, who created the platform FIATOPE 5 years ago, to help start-ups such as CyClyo. His goal: help entrepreneurs to mobilize the funds they need to develop their activity. After Fiatope's selection committee validates and approves Maxime's project, it accompanies him by writing the text of the crowdfunding campaign, choosing the compensations and publishing the promotional video. CyClyo sets up an ambitious communication strategy to attract a maximum number of investors and launches a crowdfunding campaign for 8 weeks. Eighty contributors, both individuals and organizations, allowed to raise 6500 euros which allowed CyClyo to acquire a grinder . Fiatope keeps a close eye on the development of the startup in order to brief the contributors and other sympathizers of the future of the project which they supported.
Maxime could have attempted to obtain funds via capital investment. But in addition to the difficulty of obtaining bank loans for new enterprises, as shown by CyClyo's experience, capital investment operations are also targeted to enterprises which have already shown significant results for several years. The offer of capital investment in Africa is limited; due to this lack, many projects are not even launched or don't manage to develop their potential, even when they are backed by a network which believes in the potential and impact of the project. Fiatope discovers such projects every day.
Fiatope, a pan-African crowdfunding platform, operates according to well-oiled processes:
Projects are submitted every day on the platform, recommended by partners or sought out by the platform itself
Fiatope chooses those projects using several criteria: innovative projects with social and/or environmental impact, proposed by dynamic entrepreneurs with a strong support network and which have an active presence in social networks.
Fiatope next evaluates the project's viability.
4 - The experience which Fiatope has accumulated over the years allows the platform to choose the most effective elements from past funding campaigns when launching new ones. (inheritance)
5 - When the funding campaign is complete and the objective has been reached, the administrative paperwork is completed: an implementation contract is signed and the funds are transferred to the project's initiator.
Since its creation in 2015,
34 social business projects have been successfully financed by the platform
A total of 192 000 Euros has been collected, (more than 125 million FCFA) thanks to the mobilization of 2650 Fiatopers in Europe, Africa and North America, with an average contribution of 72 euros.
10 countries have had at least one project funded
Since its creation in 2015,
● 34 social business projects have been successfully financed by the platform
● A total of 192 000 Euros has been collected, (more than 125 million FCFA) thanks to the mobilization of 2650 Fiatopers in Europe, Africa and North America, with an average contribution of 72 euros.
● 10 countries have had at least one project funded
TÔFIDOUX Candies from Benin made with organic milk
It offers a wide choice of local flavors and has the ambition to become a national and international reference in candy. Two years after its creation TÔFIDOUX launches a crowdfunding campaign on www.fiatope.com which generates 5031 euros. The funds gathered will serve to produce toffee in the form of several Benin historical figures (King Béhanzin, Toffa 1st, Bio-Guerra and the Queen Tassi-Hangbè), as well as industrializing part of the production.
Glim Africa : pasta to eat better and have more impact
In January 2019, determined to develop tasty, healthy and sustainable products, Annie joined an incubator in Paris specialized in the agriculture and food industry. In this environment she was able to experiment with various cereals native to Cameroon, in particular the Niébé (koki bean.) Seven months later, she hung up her lab gown and headed to Cameroon to present Niébé pasta in taste-tests with more than 500 people. The enterprise won several prizes. Thanks to her crowdfunding campaign on Fiatope, Annie was able to collect 5280 euros.
ChapChap food: Afro-caribbean food delivery which is organic and locally produced
In Paris and near suburbs, ChapChap food proposes a delivery service for organic Afro-caribbean dishes produced from locally grown products and accompanied by exotic home-made drinks. This start-up promotes both healthy food and ecology. After several failed attempts to obtain bank loans, Ingrid decided to solicit Fiatope for a crowdfunding campaign which raised tidy sum of 5070 euros.
Yennenga Center : no holds barred movie post-production
The filmmaker Alain Gomis led several workshops in Africa and accompanied young filmmakers in writing and developing their movies. Following these workshops, he decided to create the Yennenga Center in Dakar which would become the first (?or foremost?) cultural institution dedicated to cinema. In order to finance the acquisition of equipment and the renovation, the Yennega Center gathered 15,855 euros thanks to a campaign on the Fiatope platform.
Fiatope is also :
Tailored support and individual attention to the background of each entrepreneur
A tried and true ecosystem which permits a careful evaluation of each project before submitting it for crowdfunding on www.fiatope.com
- The payment system Mobile Money supported in several countries, to respond to the limited access to bank accounts in Africa and to make it possible for all to contribute.
The funds collected from all over the world are sent directly to a bank account in Africa via a relay in the SEPA zone.
FIATOPE's activities are not limited to the crowdfunding platform. In fact, FIATOPE is engaged in several directions via its consulting branch which sponsors pan-African programs for entrepreneurs, combining training in public financing and inclusive enterprises. Following are some of the sponsored projects :
The Sahel Marathon
Fiatope was a partner of the Sahel Marathon. The term refers to a 42 day training program (boot-camp, challenges, workshops) preceded by a yearly competition financed by the World Bank with the goal to discover and nurture the best "Early Stage" start-ups in the Sahel region. The last edition in 2019 united the 7 countries of the Sahel region: Guinea, Chad, Mauritania, Niger, Senegal, Burkina Faso and Mali. As a partner, Fiatope shared its expertise by coaching and supporting the start-ups which are are interested in crowdfunding. Furthermore a support program in crowdfunding was offered to the winners of the Marathon.
We share our know-how in public financing with numerous actors of varied profiles.
As a winner of the call for projects PRA/OSIM 2020 organized by the FORIM (Forum des Organisations de Solidarité internationale Issues des Migrations), Fiatope was honored to receive in the first quarter of 2021, funding of 15,000 € to implement, along with our long-time partner Obotama, a program of Entrepreneurial Training targeted to handicapped young people in the city of Yaoundé in Cameroon.
In 2021 Fiatope officially launched the program StartUp’Lyem with a call for candidates via its platform.
In 2020 we were pleased to be featured by international media in well-known programs such as:
- « Afrique Avenir » by Alexandrine Holognon on BBC,
- « Alors On Dit Quoi » by Diara Ndiaye on RFI,
- « 77% - Nous les jeunes d'Afrique » by Bob Barry,
- « le Podcast du Futur Entrepreneur » by Landry Cyrille,in order to discuss the specificity of crowdfunding in Africa, the importance of developing a product and launching an activity before searching for funding,and the necessity of reacting quickly to the potential risks of this type of funding.
We are launching this campaign to be able to support and mentor even more innovative and original projects with positive social impact but which are also viable. Therefore Fiatope is launching its third self-financing campaign with a goal of 10,000 euros in order to:
Build up a fund to complete the financing of certain projects (??? only or in some cases completely finance?) selected by Fiatope for their impact, but which weren't able to meet their target for lack of a few hundred euros (equivalent to a hundred thousand CFA francs)
Multiply its potential for assistance, by investing in its own business and technical development, to strengthen its impact.
Increase the media presence of the selected projects by financing professional videos for their funding campaigns.
In this way, Fiatope amplifies its support of African entrepreneurs in domains with strong social impact and is able to support a portfolio of several projects at the same time.
Our goal is therefore to assist crowdfunding campaigns, either directly by contributing or indirectly by improving their visibility, and thus to increase the number of sponsored projects.
With 5000 € we can :
- contribute to 5 campaigns during the year 2021 which will be selected based on 3 criteria :
- Receive at least 3500 € in contributions
- Lead a dynamic funding campaign
- Be based in Africa
Two of the 5 selected projects will be chosen among those in the "women's entrepreneurship challenge" planned for the third quarter.
What is the women's entrepreneurship challenge?
We wish to encourage women to create businesses, leading to their self-accomplishment via a wide range of projects. These women will in turn become role models and inspire other women to create their businesses. To work towards this end, "Women Fiatope Challenge" has been created to encourage women already in business or developing a project to join the program and see their dreams become reality.
- recruit a person in charge of business development. This profile will allow us to increase our performance in assisting projects with crowdfunding. This resource will be based in Senegal or in the Ivory Coast and have 2 or 3 years of experience in marketing, communication and on-line selling.
With 10 000 Euros, we can contribute to 5 more projects.
In exchange for your valued gift, in addition to the infinite gratitude of Fiatope and the project owners, you will benefit from the following advantages:
● If you are in France, you will benefit from a reduction of 66% of the amount of your contribution on your income taxes. Example: if you contribute 100 euros, you will contribute to launching new businesses and supporting Fiatope, but you pay only 34 euros after taxes. It's a rare opportunity to combine social impact in Africa and a fiscal gain.
You will become a full-fledged member of the association to which Fiatope belongs thus being invited to the Annual Meetings, where you an participate in the annual retrospective and take part in our decisions. You'll also receive the annual report of the association.
Follow-up on the funded projects: you will have a clear view of the use of the contributed funds, based on tracking at several levels, notably when a project has been co-financed using the funds, as well as a yearly recapitulation of all the assisted projects.
In general, we will share our news and activities via the Fiatope newsletter to allow you to keep an eye on our progress (even if you don't have time to visit the website!) You'll also be invited to our social events and to events related to the assisted projects.
Project-specific compensations: you will be identified as a contributor to the projects which are selected for co-financing; you can therefore also receive compensations specific to the funded project in the same way as direct contributors. These compensations may be immaterial (for example, your name being mentioned as a contributor on the project page) or material (goodies, etc in the limit of available stocks.) We recommend a minimum contribution of 50 euros so that it can be divided among several projects from which you can benefit. Nevertheless, contributions of any amount are welcome.
By supporting us, you support entrepreneurs who wish to conquer the world with their innovative projects.
This campaign requests only a small amount of funding, but it will be of major importance for many start-uppers.
Become an actor of a world and of Africa which changes due to enterprising people. Spread the word! Contribute!
*To contribute using a credit card * Click on "Contribute". Enter the amount of your contribution. Then enter the requested information as they appear on the credit card and click to confirm the payment.
To contribute using Orange Money Cameroon : Click on "Contribute", then enter the amount of your contribution in euros; the conversion to CFA francs will be done automatically later. Select the payment method Orange Money. Enter your phone number and you will receive a secret code on the mobile to copy in the contribution screen.
*To contribute using MOOV BENIN, MOOV TOGO, MTN BENIN, MTN COTE D’IVOIRE, ORANGE BURKINA FASO or ORANGE COTE D’IVOIRE :
Click on "Contribute", then enter the amount of your contribution in euros; the conversion to CFA francs will be done automatically later. Select the payment method Payplus, then the provider MOOV BENIN, MOOV TOGO, MTN BENIN, MTN COTE D’IVOIRE, ORANGE BURKINA FASO or ORANGE COTE D’IVOIRE. Enter your phone number and you will receive a secret code on the mobile to copy in the contribution screen.