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Domogo

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Kito / Domogo Entrepreneurship Challenge

​Investments which empower young Kenyan entrepreneurs to create business opportunities within their community.

This challenge is closed

stage:
Won
prize:
$1,000

This challenge is closed

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Summary
Timeline
Forum9
Teams38
Entries
FAQ
Summary

Overview

Domogo ​Investments which empower young Kenyan entrepreneurs ( Trained in Kito International ) to create business opportunities within their community.

The Problem

Domogo’s Vision is to “Eradicate homelessness through cyclical opportunities”.

Although there are many causes of global homelessness, overwhelmingly, poverty, due to lack of opportunity, is the leading cause.

The Challenge

Our corporate Mission is “To create “home” in every encounter”. To us “home” provides:

  • Voice
  • Dignity
  • Warmth
  • Stability

Domogo seeks to invest seed capital into 2 business concepts that not only create opportunity for their founders but also create “home” for others in their community.

How to Win the Challenge

The winning concepts will be the two ideas that present the best probability in completing the following objectives:

  1. Produce profit
  2. Create “home” for others in the founders’ communities
  3. Can easily be replicated or expanded

There are no rules regarding what content must be included in the contest entry, however, entries that are detailed enough to sufficiently show viability are likely to receive higher scores. 

Remember, we are not just looking at the concept but also the entrepreneur. The quality of your presentation is the only representation of you we have by which to judge you as an entrepreneur.

Duration

This challenge will last for 25 days.

What You Can Do To Cause A Breakthrough

Additional Rules

While competition winners will own the copyright to their concepts, the competition award is an investment into the company not a prize. 

By entering, winners are agreeing to 15% of profit for the lifetime of the business being shared to Kito International which will be used for two purposes: 

  • 2/3 of the 15% will be used by Kito International for ongoing costs of training future entrepreneurs
  • 1/3 of the 15% will be held by Kito International for the purpose of funding future Domogo entrepreneur competitions for Kito graduates. 

Who Can Participate:

The competition is open only to those who have participated or are participating in Kito International youth entrepreneurship training. 

Selection of Winner:

The winners will be the 2 entries with the highest final score. The final score will be an average of the judges' individual scores added to the number of crowd votes an entry receives.

  • If Judge 1 Scores 67
  • If Judge 2 Scores 72
  • If Judge 3 Scores 54
  • If Judge 4 Scores 65
  • The Judges' Score ( 67 + 72 + 54 + 65 ) / 4 = 64.5
  • Crowd Votes = 16
  • Final Score 64.5 + 16 = 80.5

There will likely be more than 4 judges scoring your entry but the final number of judges has yet to be determined.

Voting:

All votes are subject to review. Any competitor using unfair methods to solicit votes will be automatically disqualified from the challenge. e.g. registering multiple accounts under 1 individual

Challenge Guidelines are subject to change. Registered competitors will receive notification when changes are made, however, we highly encourage you to visit the Challenge Site often to review updates.

More on Kito International: 

More on Domogo: 

 

 

Timeline
Forum9
Teams38
Entries
FAQ

Frequently Asked Questions

Domogo is being founded out of an unwillingness to accept that so many fellow humans are left homeless or living in dire poverty while corporate greed and opulent behavior wins the day. 

We are setting out on a long term mission to create corporations that are community led, fully transparent and mostly decentralized forces for good.

Domogo is our starting point and a social experiment of sorts that’s ready to be publicly honed into something bigger and better than what we could ever achieve on our own.

We believe Domogo to be an extremely simply solution to funding developments in the battle against homelessness and poverty but we need your input, your advice and your capacity to spread information.

The Domogo model seeks to:

  • Use profits from domestic goods and services to fund the battle against homelessness and poverty (starting with real estate brokerage services)  
  • Ensure no owners or shareholders of the entities can profit beyond reasonable salaries
  • Ensure complete operational and financial transparency
  • Ensure that funds are being used not only on the social outcome but also to scale and fund research
  • Invite expert and crowd participation while decentralizing ownership as much as possible without the model collapsing into chaos or funds into misuse.

Domogo’s vision is to eradicate homelessness. To achieve that, massive amounts of funds must be put into poverty elimination, community development and infrastructure, job creation, mental health initiatives, healthcare, education, diplomacy etc… It feels insurmountable but we refuse to accept that its impossible.

We are beginning as a small series of real estate agencies based in China with offices soon to open in Nanjing, Suzhou and Shanghai. We will use initial real estate brokerage fees to fund the establishment of  Domogo into a franchisable entity that can be replicated anywhere that real estate is being sold or rented.

What makes Domogo unique is that we are not seeking permanent ownership of the franchise. Starting in September of 2015, we will fully expose Domogo operations to the public from open board meetings videoed and stored online to full financial transparency. Our board will be a mix of founders, experts and “the crowd” which means anyone wishing to participate can have influence on how Domogo operates.

Although opening our business plans, strategy, marketing initiatives etc… to the general public means, in the short term, our competitors can see us coming in every instance, we believe in the long term this will force our competitors to become better companies or become obsolete. It also means that Domogo will have to offer best of class services and products to overcome the disadvantage of being fully exposed to our rivals. This will only serve to create better products for customers and better outcomes for our societies

We’ve a long road ahead of us but its an exciting one that you can be a part of.

Come pay us a visit!