Updated Jul 01, 2020

Michael Oluwagbemi

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ProNOV is platform (online & offline) that helps dispensaries & pharmacies manage their inventory, reduce costs through bulk-breaking and provide access to working capital by digitizing from point of sourcing to payment for FINANCIAL INCLUSION. �

ProNOV deploys a lean cloud based platform to smart phones, tablets or computers at micro-retailers, helps digitize and track their inventory and the smart inventory systems alerts and aggregates stock-outs from closely located users for bulk breaking which can be financed by the cohort based cooperatives organized around the platform. With this, ProNOV is able to offer between 5-15% discount b...
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ProNOV deploys a lean cloud based platform to smart phones, tablets or computers at micro-retailers, helps digitize and track their inventory and the smart inventory systems alerts and aggregates stock-outs from closely located users for bulk breaking which can be financed by the cohort based cooperatives organized around the platform. With this, ProNOV is able to offer between 5-15% discount by sourcing essential medicinal supplies from large distributors it partners with, while users are encouraged to digitize and also financially include their customer base, which invariably not only encourage financial inclusion of poor urban and rural communities, but also enable better health outcomes.
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Economic and Workforce Support
  

Stage 2: Research & Development

Michael Oluwagbemi from Loftyinc Allied Partners Limited in Nigeria led the development of ProNOV, which is now fully deployed in over 2,500 PPMVs in Nigeria. The technology is also supporting various COVID-19 distribution efforts in Nigeria.
Registered in United States and Nigeria as For-Profitin United States and Nigeria as For-Profit

Focus Areas:

Health Systems, Supply Chains, Social & Micro Finance and 2 MoreSEE ALL

Health Systems, Supply Chains, Social & Micro Finance, Digital Finance and TechnologySEE LESS

Implemented In:

Nigeria

NigeriaSEE LESS

1
Country Implemented In
2,500
Customers
32
Employees
$1,470,000
Funds Raised to Date

Problem

A typical Bottom Billion” Retail Store experience severe problems with Inefficient POS system, “Dumb” inventory system, Inaccurately forecasting, Frequent stock out, Poor Access to working capital, Weak profitability, poor record keeping and hence low access to credit for growth, Low-quality inventory and for the pharmaceuticals retail sub-sector poor health outcomes for served Communities. Medicine in poor neighborhoods are more expensive, often run out among others. �

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Solution

ProNOV platform help micro & nano-store owners manage their inventories to improve profitability & affordability of their merchandise by organizing micro-retailer users into cohorts, digitizing their operations with our inventory management system coupled with smart POS systems, bulk breaking, access to finance & data analysis. �

Target Beneficiaries

Micro-Retailers in the Pharmaceutical and Health sectors (PPMVs and single owner pharmacies) that are often in the frontline of health responses in West Africa, thereby impacting their immediate communities of the bottom pyramid that number over 120 million in Nigeria, and 250 million in West Africa.

Mission and Vision

VISION Making Retail Simpler for the Grassroots MISSION To become the foremost platform in developing economies that help micro & nano-store owners manage their inventories to improve profitability & affordability of their merchandise through smart POS systems, bulk breaking, access to finance & data analysis VALUES Dignity, Integrity & Customer Satisfaction �

Competitive Advantage

ProNOV is the only innovation currently focused on the unstructured market dominated by PPMVs and single owner community health pharmacies. It is also the only one that combines digitization with cohort based inventory and credit management system to support micro-retailers, while delivering critical inventories to their doorsteps.

Planned Goals and Milestones

For 2020, ProNOV have three key goals: 1. Release the updated commercial application on desktop and mobile 2. Enable Credit and Loyalty Function for End Users of Platform 3. Deploy platform for government to patient critical medicine management
Funding Goal150,000
Projected Cumulative Lives Impacted950,000
New Implemented CountriesGhana, Benin, Togo
Recruit3 Management, 5 Board, 7 Direct Employees, 20 Indirect affiliated employees
New FeatureSupport Essential Medication Distribution direct to Homes of Govt Hospital patients during COVID-19 Lockdown

The Team Behind the Innovation

The ProNOV team is made up of seasoned entrepreneurs with vast range of experiences. The inventor and founder is Michael Oluwagbemi. He started his first company as a 13 year old, and has now helped found over 12 companies still in his youth. An engineer and business professional, he leads LoftyInc. He is supported by another youth, Wole Odetayo, chair of the board of ProNOV LLC. Edwin Ajogun and Pharm. Jeremia Babasanmi & Kemi Akinola round up the team as the management, and are also under-40.

EXECUTIVE TEAM INCLUDES WOMEN AND YOUTH

Milestone

Date Unknown
Created
Date Unknown
New Country Implemented In
Nigeria

Supporting Materials

PRONOV-DECK-COVIDR-orientation-null.pdf