Monostar Lab

Introduction

Monostar Lab is a startup that produces Media Computers from waste tech devices such as laptops that don't work properly anymore.

Problem

1. TECH SILICON WASTE

2. ENVIRONMENT AT RISK

3. EXPENSIVE TECHNOLOGY

Solution

1. TECH SILICON RECYCLING

2. SELLING THE REFURBISHED TECH AT A LOW COST

How Can The Solution Make a Change?

1. People not only in Bangladesh but also all around the world need technology to advance in life. And if the technology is cheaper, it is more reachable by an ordinary person; which will open the world of innovation for him easily.

2. The recycling of Silicon effects the environment; Which is beneficial for the world!

Scale of the Problem

1. The Tech Silicon Waste is a Global Problem as it effects the Environment.

2. The refurbished/recycled products that we produce have a large need in Bangladesh alone. Over 9 crore people use cheap computers in Bangladesh and almost 2 crore people can't afford a good configuration till date. (source: The Daily Star)

How many people are affected?

Here's our Market Estimation!

Contributing Factors

Our solution has direct connection to the problem:

1. We're recycling tech wastes.

2. We're selling tech products at a low cost.

We, the Founder & Co-Founders ourselves are Engineering students in Bangladesh. All around us we see that mostly students who can't afford expensive tech devices suffer from the problem that we have acknowledged.

How are we working to understand the needs and participation in the solution?

We are students and we're working with students to manufacture our devices. Our users are students as well. This is a system that is functioning for students and by students!

How will the solution address their needs?

Our solution is the most affordable thing for them and it meets our customer's needs. We have sold 2 units and the feedback is great! Moreover, we make sure that we combine proper specs for specific target customers.

Solution

1. TECH SILICON RECYCLING

2. SELLING THE REFURBISHED TECH AT A LOW COST

Description:

THE MEDIA COMPUTER we sell from recycling/refurbishing waste tech devices at low cost!

Pricing

USD 175 to 220 only!!!

Our solution meets the needs of millions of students and other demanding people in Bangladesh. There is a gap that is required to be filled between the existing solutions and ours is just worth sitting on that gap.

Our existing competitors are:

1. Intel

2. Apple

3. GreenTec ...     etc.

Our niche is somewhat different from Intel & Apple and our pricing is what differentiates us from them. On the other hand, GreenTec is only does recycling of tech waste; while we make new Tech Products from them and sell them at a very affordable price.

We're making a small change in the community of Bangladesh by making tech more accessible at a low cost.

This makes this generation more Information and Internet friendly; which is the key to innovation for future.

The change in the larger perspective may happen in this way:
1. Low cost tech -> More use of Tech & Internet -> More Learning & Skill Development -> More Innovation
2. Recycling Tech Waste -> Happy Environment

1. The current number of people we have served: 3

2. Number of people we will serve in next one year: Approximately 100

3. The number of people we hope to serve in five years: Approximately 6000+

The goals within next year is to overcome difficulties, sustain, improve our solution and expand the business to other cities of Bangladesh.

The goals for next five years is to create a brand value, start mass production, expand the business to other countries.

1. Finance: For mass production, we need a large financial investment

2. Technical: We have a small team and only a few people know how to manufacture the products that we are selling. We need to recruit more people with technical knowledge and/or train new recruits.

3. Legal: We have no Legal Advisor because we can't afford one right now. But we do acknowledge the importance of one.

4. Market: Our team doesn't have many people with expert marketing & sales skills. We badly need a few.

1. The baseline is to keep selling and manufacturing in a loop to grow with small steps.

2. Meanwhile, we will be looking for investors and people who would like to share their expertise with us for an acceptable equity share.

• Shahriar Aziz Aakash (CEO, Monostar Lab)
• Maruf Ahmed (COO, Monostar Lab)
• Masud Parvez (CTO, Monostar Lab)

Other Staff:

• 2 Waste Tech Collectors and Testers
• 2 Production Engineers

Total: 7 people

The main 3 people of our team have previous startup experiences. Their other startups went good and they are placed in the startup according to their expertise. Our team is completely dedicated and we all "OWN THE VISION" ...

Initially we are following a B2C business model. We buy the tech waste directly from our customers and also sell our products directly to the customers; making it a B2C business model.

For next five years, we do have a plan of shifting to Channel business model. We will have different channels for waste collection and also different channels for product sales to reach the larger market share.

The baseline right now is to keep on selling products and investing the revenue back in production to keep growing.

We do look forward to raising investment capital from potential investors and also participating in startup competitions and utilize the prize money that we win.

Winning even the $200,000 of Bangladeshi Competition means a lot for a startup like us. But considering other things apart from just the money that this challenge is offering us, The strategic and operational support, mentorship, office space etc. can prove to enhance us, help us grow and tune us properly.

WE ARE LOOKING FORWARD TO HAVING EVERY SMALLEST BITS TIGER CHALLENGE HAS TO OFFER FOR US!

We believe that partnering with other Tech Companies that are growing rapidly in Bangladesh can benefit us the most. A few names that we have in mind are: 

1. Sheba.XYZ

2. Aamra

3. Walton