Program: Malaysia Summer 2015
FeedOn is a dedicated marketplace through a mobile application for food suppliers to sell surplus edible food at cost price to the needy and for charity homes to purchase discounted food. Our solution saves the needy community time in finding affordable food, saves money and effort without having to go to multiple places to buy a product, and makes it easier to compare prices, offering a wider variety of provisions. We also help companies save money by reducing the costs of disposing surplus food, reduce losses by allowing them to sell surplus products at cost price and save on storage space.
Malaysians waste a total of 8,000 tons of food daily (Source: theSunDaily). On the other hand, in Selangor alone there are 719 charity homes and organizations who are in need of food (Source: FoodAidFoundation). With the implementation of the Goods and Service Tax (GST), cost of living is on the rise. According to the interviews that we have conducted from food banks to bakeries to charity homes, the lives of people are adversely affected by the rising prices of goods.
To combat this issue, we are creating a marketplace through a mobile application for suppliers to sell or donate surplus food to the needy and for charity homes to purchase discount food. Our solution saves time in finding affordable food, saves money and effort without having to go to multiple places to buy a product at the same time making it easier to compare prices and also offer a wider variety of provisions. We also help companies save money by getting rid of the costs of disposing surplus food, reduce losses by allowing them to sell surplus products at cost price and save on storage space. In partnership with GoGet.my, a local delivery service, the food is delivered fast and efficiently. Using geo-location, the app only shows deals that are within a 30 minutes journey. This ensures that the food arrives on time, in a good condition and also reduce travel costs.
Currently in Malaysia, there are food distribution platforms run by NGOs such as FoodAidFoundation and Kechara Soup Kitchen but they only provide a limited amount of food to certain charity homes at a certain times. Our solution offers charity homes an advantage that they can buy their own food whenever they want, instead of waiting for donations.
We plan on charging a minimal fee of RM5 from every transaction to fund our operations, with optional charges for delivery. There are 157 charity homes in Selangor alone. (Source: YSB Community Development). Servicing half of that number gives us a profit of RM7,000 a month. (70 transactions x RM5 x 20 days). We plan to expand our service throughout Malaysia within the next 3 years. Our customer acquisition plan is mainly done by direct contact with end users and expanding through personal networks. Once our network has grown, we can start looking into other form of revenue streams such as data monetization and offering a premium price for food sellers to keep their deals on top searches. We provide a win-win situation for both. Seller gets back the cost price of the food and buyer gets the food at a cheaper price. Our minimum viable product (MVP) is scheduled to be done in 5 days while receiving user input and feedback for iteration purposes. We invite partners and investors to work with us to make this solution a reality.