Innovations Item Code: IN-2024-2100213
Sector: Renewable/Green Energy
Description:
NetXus is a simple but effective solution that aims to redefine how students and businesses (small-scale) access energy in Nigeria. Our solution combines solar power with human effort, delivering reliable, affordable, and sustainable electricity tailored to meet the diverse needs of communities. Our innovative product boasts a storage power output of 40KWh when fully charged, capable of charging laptops up to 14 times, mobile phones up to 30 times, and even powering modern appliances like refrigerators and microwaves. Our supplementary cranking feature sets us apart, allowing users to generate electricity on demand, ensuring uninterrupted power supply even during prolonged outages. With IoT-enabled technology, users can enjoy remote monitoring and control, real-time notifications, auto troubleshooting and even the ability to locate nearby charging stations for those using our product as a business venture, making energy management effortless. NetXus aims to address Nigeria's energy poverty crisis amidst students and small-scale businesses while promoting affordability, reliability, and sustainability.
Stage of Innovation: Prototype (You have a working physical product)
Problem:
The problem we are addressing is the pervasive energy poverty in Nigeria, particularly among students and small businesses. With power outages lasting for extended periods—often up to 15 to 18 hours a day—many students, individuals and enterprises struggle to meet their basic energy needs. This energy crisis has profound implications on our daily, hindering educational pursuits and economic productivity.
A handful number of Nigerians rely on diesel generators as a makeshift solution to power outages. However, this dependence on fossil fuels comes with severe drawbacks. Diesel and generators are expensive to run and contribute to environmental pollution, including CO poisoning and lung cancer, and exacerbate global warming.
Moreover, the inconsistency of the power supply negatively affects various sectors, including education, healthcare, and commerce. Students find studying difficult, businesses face operational disruptions, and healthcare facilities struggle to provide essential services.
Thus, the overarching problem is the lack of access to a reliable, affordable, and sustainable power supply. It's not merely an inconvenience but a systemic issue that perpetuates poverty hampers development, and undermines the well-being of communities across Nigeria.
Unique Selling Point: Below is a breakdown of how people are currently coping with energy challenges in Nigeria and how NetXus's solution differs: 1. Students Using Power Banks: Many students in Nigeria rely on power banks to charge their mobile phones and sometimes small devices like tablets. While power banks offer portability and convenience, they have limitations. They are primarily designed for charging mobile devices and have limited capacity, making them unsuitable for powering larger devices like laptops (their most relied-upon device for study) or providing sustained power for extended periods. Also, power banks need to be recharged regularly, which requires access to electricity, making power banks not an even effective solution in the face of this challenge. 2. Small Businesses Using Generators: Small businesses in Nigeria often resort to generators to cope with frequent power outages. While generators provide a reliable source of power, they come with significant limitations and setbacks. Generators are expensive to purchase, operate, and maintain, placing a financial burden on small businesses with limited budgets. Their reliance on fossil fuels such as diesel or petrol and noisy nature, contributes to environmental pollution and health hazards. So, generators only offer a temporary solution to power outages, they are not sustainable or cost-effective in the long run, especially for small businesses striving to minimize operational costs and environmental impact. 3. Office and Small Businesses Using Inverter Systems: Some offices and small businesses invest in inverter systems as a backup power solution. While inverters provide a more reliable alternative to generators and reduce reliance on fossil fuels, they come with significant drawbacks. Inverter systems require upfront investment and ongoing maintenance costs, making them financially prohibitive for many small businesses to afford. NetXus's solution is here to address the limitations of existing solutions while offering some prime features alongside, in light of this, we discuss our competitive advantages as follows: 1. Affordability: Through our partnership with institutions, we'd be implementing a strategic business model that offers our product as Power-as-a-Service (PaaS) to students (a product per room in a hostel can cater for the need of at most four occupants) Instead of purchasing the product outright, which may be unaffordable for many students, the institutions provide the product, and students pay a nominal fee of #5000 per semester, which is 2.5% of the product cost (N200K). This approach ensures that students have access to our product without financial barriers, In return, going forward, we generate a lifetime revenue from our partnered institutions. In essence, students benefit from our product effortlessly, and institutions play a crucial role in facilitating access to clean and affordable energy solutions. 2. Versatility: Unlike power banks, NetXus's product offers a higher power output and versatility, capable of charging not only mobile phones but also laptops, modern refrigerators (100W-200W), microwaves, and other essential devices. This versatility ensures that users have access to reliable power for various needs, whether for studying, working, or household tasks. 3. Sustainability: NetXus prioritizes renewable energy sources such as solar power, reducing reliance on fossil fuels and mitigating environmental impact. By harnessing clean energy, NetXus provides a sustainable solution that aligns with global efforts to combat climate change and promote environmental sustainability. 4. Reliability: NetXus ensures year-round power supply through its threefold charging approach: electrical, solar, and manual cranking. This ensures that our product works efficiently regardless of weather conditions or erratic power supply. This reliability is crucial for businesses seeking to maintain productivity and for students requiring consistent access to power for their academic pursuits. 5. Technology: By making our product IoT-enabled, we have a mobile application that allows for enhanced user experience and system reliability. Users enjoy remote monitoring and real-time notifications about product status, ensuring proactive management and peace of mind. Also, our system enables the seamless location of nearby charging stations (for customers using our product as a business venture). We have an auto troubleshooting feature that intelligently diagnoses system faults, offering inbuilt fixes for minor issues and detailed explanations for complex problems, facilitating swift resolution by technicians. In a nutshell, NetXus's solution addresses the limitations of existing energy options by offering an affordable, versatile, and sustainable alternative that meets the unique needs of students, households, and small businesses in Nigeria.