| Summary: | Millions and millions of people in urban slums around the world are waiting for an opportunity to build an effective business in generating good source of income. They also wish to have an opportunity to change their lives and to be able to work, to buy food, to send their children to school, and to stop being sick.
A group of people, that eventually became good friends, in National Chengchi University while studying in the International Masters in Business Administration and the Executive Masters in Business Administration respectively, have decided to embark in an adventure that aim to impact in a positive way the lives of millions of slum dwellers worldwide through a social enterprise. They established a project called VERMIPOWER which intent to provide a source of income for slum dwellers as well as to enhance the living conditions global slum areas.
Social enterprises are a profit generated business that looks for social, cultural, economic, and environmental outcomes. These enterprises are financially self-sufficient. The social enterprise that VERMIPOWER aspires to be, plan to have positive impacts on many factors within urban slums; from directly impacting people’s lives to helping the environment by utilizing elements from within the urban slums.
The company is built on the idea that the urban slums have items that can be used for a resource recovery process. Red worms will be needed as well as food waste. Red worms are a perfect fertilizer producer when eating food waste in a process known as vermicomposting. Interesting enough, red worms, while producing vermicompost, reproduce at an accelerated rate providing two interesting sources of income for slum dwellers, both red worms and vermicompost. Vermicompost can be used in farms, gardens and red worms can be sold in bait shops, zoos, etc.
As the saying goes, one man’s trash is another man’s treasure, the company will turn trash into treasure, literally. And with the help of third party corporations it will be possible as well to fulfill the ultimate goal, which is creating a source of income for millions of slum dwellers across the world.
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