Soma Bags, a startup specialising in designing, producing, and selling stylish African solar schoolbags made from upcycled materials, exemplifies the remarkable impact of catalytic funding provided by the UNDP's FUNGUO Innovation Programme, supported by the European Union. Through both financial backing and strategic partnerships, this program has propelled Soma Bags toward sustainable growth, positively impacting the lives of students and the environment.
With the catalytic funding in hand, Soma Bags acquired sixty cutting-edge machines and hired an additional 50 staff members, significantly strengthening their operations. These new machines not only helped them address their backlog of orders but also paved the way for diversifying their product lines. Recognising the need to manage seasonal fluctuations in demand, Soma Bags expanded their offerings beyond solar schoolbags. They introduced caps and covers for three-wheeler motor vehicles (Bajaj) and explored other potential products and designs. These new additions played a vital role in maintaining business production during off-peak seasons for school bags. As a result, Soma Bags experienced an impressive 36% increase in daily product output, a notable 13% decrease in expenses, and a remarkable 22% revenue growth in the last quarter alone. Through optimised processes and streamlined operations, UNDP's support has provided Soma Bags with enhanced financial stability and positioned them for sustained growth.
Innocent James, the founder of Soma Bags, emphasises that "UNDP's catalytic funding extended beyond mere financial support." In addition to offering valuable advice, technical support, and training, UNDP's FUNGUO programme played a pivotal role in connecting Soma Bags with an impact investor, Renew Capital. This introduction opened doors to significant investment in the company, propelling it to new heights—an opportunity that the founders had not previously considered.
Soma Bags has also garnered notable recognition, including visits from esteemed ambassadors representing influential countries such as the United Kingdom, the European Union, Germany, Poland, Ireland, and Finland. These dignitaries graciously devoted their time to meet with the young entrepreneur behind this innovative startup, seeking further insights into Soma Bags' groundbreaking initiatives. Furthermore, through their commitment to sustainability and innovation, Soma Bags has secured a five-year, $250,000 deal with Belgium's Omnicol, aiming to upcycle used paper cement bags into backpacks for the EU Market, effectively turning waste into style. This accomplishment marks yet another milestone in Soma Bags' journey towards empowering innovation and environmental responsibility.