Young Entrepreneurs - Essay Example

Young EntrepreneursEvans Wadongo is a Kenyan engineer aged 26 years and has been at the helm of several projects in Kenya, one among them being solar power projects. He’s been described as one of the brightest minds in the emerging markets in the power industry in Kenya. With the persistent power problems in the country, He has been the driving force to developing new and economical ways to cut down on the cost of power. His latest project on the solar-powered LED lantern has been described by many as the greatest innovation in recent times to cushion those who cannot afford the electricity.

This project also aimed at providing light to school going children from poor families who could not stand the smoke of the local kerosene lamp.The idea of developing the solar-powered lantern was originally presented by Wadongo at a local congress of young innovative youth’s forum in Kenya and was picked as a promising one with the potential to solve a problem in the community (Arrillaga-Andreessen, 2012). Wadongo did a lot of his research on the design and the sizes that most suited the targeted population.

Through his various attempts to design a sustainable product that would not only last for long, but also provide a cleaner source of energy, he came up with something that has been appreciated worldwide. His bight idea that only started in a small village in Kenya has now been recognized worldwide on various forums (Arrillaga-Andreessen, 2012). According to the locals, Wadongo’s project is one that has helped more children go back to school and the impact being felt almost immediately. The performances have increased in most schools that have adopted the use of the Solar-powered lantern.

According to Wadongo, his project hasn’t reached its peak yet with several additions intended to be made. He wants to extend the scheme to cover more areas in the country, and the same time sells his solar tapped power to major towns. He says that this approach will work best for him due to the frequent power blackouts experienced in those towns. His idea was driven by the fact that 90% of the country’s power is generated from hydro-power stations and the need for other reliable means of power generation was needed.

According to Wadongo, the current power rates in the country are very high, and the consumers will welcome any form of cushioning. With the rates currently at Ksh 75 per Kw unit, he intends to produce up to a total of 1000 Kw for different premises. To achieve this, Wadongo has partnered with some organizations to aid him with the supply of solar panels at a good price. The solar panels mainly coming from china are the backbone of his mega project to light up the nation. This is a good business for Wadongo with expected monthly profit of up to $ 1,000,000.

Through this project, an estimated 200,000 young people will get employed at various stages and will make monthly earnings of up to $ 1,500. Currently, Wadongo has rolled out the lantern project to towns and makes good earnings with a monthly profit of about $ 180,000. Wadongo’s project is envisioned by many business analysts as a potential economic booster in the long run, with the ability to absorb more people and create employment (Arrillaga-Andreessen, 2012). He has already built a foundation to what is considered the most ambitious economic plan in a long time in the country.

ReferenceArrillaga-Andreessen, L. (2012). Giving 2.0: Transform your giving and our world. San Francisco: Jossey-Bass.http://sustainabledevelopmentforall.org/