GBM Media Africa Ltd

www.gbmmediaafrica.com
Progress records
3
Stage of your startup
Idea
When did you start
November 2013
City
Lagos, Lagos, Nigeria
Definition in 1 sentence
Integrated Satellite Hub Terminal Solution is all about satellite broadcasting and telecoms with unique 8 viable businesses
Elevator pitch
A satellite dish is a dish-shaped type of parabolic antenna designed to receive or transmit information by radio waves to or from a communication satellite. The term most commonly means a dish used by consumers to receive direct-broadcast satellite television from a direct broadcast satellite
Are you incorporated?
Yes
Category
Hardware
Sector
Manufacturing tech & materials
How do customers use or interact with your product?
Hardware-wearable
Product Demo Video Adress
Video Password
Image gallery
Why do you want to attend this program?
To get investors, Connections and social
Create Date
Tuesday, July 14, 2020 16:43 (Chigozie Benson)

Business model

Describe the problem you are solving
This project focuses on the design and construction of cheap parabolic satellite dishes using locally readily available materials. Indigenous technology is exploited to achieve the goal of this work. This project will design, construct, and produce parabolic dish antenna from scratch that can be used to intercept electromagnetic signals from the satellite stationed in the space. Communication through satellite is very important at this information age.
How are your customers solving that problem today?
Being an indigenous product and all raw materials are sourced locally, it will be less expensive compare to imported ones. By so doing, solving challenges of cost management in this era of new life after Covvid-19
Target custormers - Define customers, who are they
How do you plan to acquire customers?
Lead players in the satellite telecommunication industry and using distributor channels
What is your revenue model or expected revenue model?
Transactional Revenue Processing

Market info

What is your target market?
All Satellite Communication users and companies in Africa
All Digital Cable Television users and companies in Africa
What is your total available market size
$ 1,700,000
What steps have you taken to validate the market?
We documented key assumptions and we interviewed major Antenna dealers using Nigerian market as a study. We discovered Nigeria is the biggest market for the sales of Antenna dish in Africa, followed by South Africa. The 3 major leading companies in Africa that uses Antenna dish in Africa, has a very strong market in these African countries. So we have established strong connections and relationship with the companies to supply them at a lower cost they formally get from China manufacturer.
Do you have competitors? Please write down the names
Competitor name
Competitor website
Competition: write down competitors and explain
Who are your competitors and how are you different?
I have no competitors in Nigeria/Africa, except imported ones from China. But with locally made here where all raw materials will be sourced locally, my product will have upper hand in terms of price difference, quality and unique.
Traction / KPIs
What progress have you made in the last six months?
An idea is a great task, conceptualizing it into a project is another great task and bringing the concept idea project into reality entails so much especially in this part of the world. So much resources goes in when bringing an idea into reality, because the hypothesis has to be tested and intensive research has to be done both far and near to arrive at a point of feasibility and bringing it into business viable project. It took us over 5 years of research to arrive at a point of conviction.
How many customers/users do you currently have?
1000000 monthly prospect
What is your monthly growth rate?
Our growth in sales will be 10-20% annually
Describe traction

Finance

How much runway do you have left(Month)?
6
How is equity divided?
Equity type
Name surname
Email
Equity
Founder
Benson Chigozie
% 70
Co-Founder
Mrs Amaka Uka B.
% 20
Co-Founder
Munachimso Precious B
% 10
How much money raised since start?
$ 70,000
Revenue lifetime
$ 0
Last months revenue
$ 0
Investment round
Target fund to raise
$ 2,000,000
Equity on offer
% 50
Number of employees
21
Other info Write bullet points (Grants, prizes, acceleration)
Add more comments

Team

Owner member
Yes
Member role
Founder
Name surname
Chigozie Benson
Title
Managing Director
Education
Bachelor Degree
School name
Bestower Internation University
Birthdate
05 February 1984
City
Lagos, Lagos, Nigeria
Short Bio
An experienced industry professional with Over 15 Years of experience. Benson Chigozie has been
associated with Prestel Cable and Satellite TV, Digisat.in, Infinity Cable TV, HiTV, Nigezie, MFMTV among others.