RAISING EARTHWORM

A side job of many Indonesian farmers that

has been carried on for years.

Provide instant money

Inclusive business

No harvesting period

The Problems
Many earthworm growers cannot sell their worms due to the
limited market of live worms

Medicines and
other uses

The existing
market since 1990

Animal Feed
Market
Fishing
Bait

The new potential market

that previously unreachable
by worm growers

Our Journey
Aug 2016
More than 10 farmers ask to join as our worm
growers. We started downstream processing

Dec 2016
Its time to scale up

Dec
2015

Mar 2016
100kg of live worms we
sold each month
Made a MoU with local people
and built an earthworm farm in
Ciwidey

Sep 2016
Our worm powder is sold
as an hatchery feed

Business Model
Process the
earthworm

Install the
earthworm farm

Recruit the local

farmers to become
worm growers

Buy their
earthworm

Provide additional income for local farmers

Reduce organic waste

Produce the sustainable protein sources

Market Opportunity

46M+ Tons
Global
Aquafeed
Market

USD 16B

Global Feed
Additives

USD 4B
Industrial
Enzyme
Market

Market Sizing

Total Available Market

420k
Tons
46M Tons

Global aquafeed market size

Served Available Market

Total aquaculture additives

market in Asia

2.1
Tons

Serviceable and Obtainable

Market
Approximate market share for
our feed additives product

Competitor and Positioning

Raw materials
locally available

Ciwidey Social Venture

Bulk Commodity
Manufacturer

Fine Chemical
Manufacturer

Raw materials
depends on the
market

Our Team

Muhamad Zaid
Founder (CEO)
Bachelor of Biological Engineering (ITB)
Research Intern PT BGA Group (2014)
Possess a research and engineering
background in biological systems including
mass balances, bioprocess design, and
bio-based products development.

Angga
Head of Worm Farmers
Earthworm growers since 1996. Indigenous
earthworm farmers in Ciwidey.
One of the core worm farmers in
Pangalengan with a total production capacity
more than 2 tons per month (2010).

Traction

(from March 2016)

USD 2.2k Revenue

1400+ Kilograms of Earthworm Sold
6+ Tons of Organic Waste Processed
15+ Earthworm Growers
4 Worm Distributors
3 Fish Farm Customers

Funding Needs and Allocation

$15,000 USD
In equity investment

Own 20% of the shares

2 years

40%

30%

15%

15%

Equipment Cost

Product Development

Team and Co-founder

Recruitment

Working Capital

Project Milestones

December 2018

July 2018
March 2018
October 2017

May 2017
January 2017

Make a preliminary design of enzyme production system using earthworm as the

raw materials.
Become the market leader for worm-based product throughout southeast Asia.

Expand our market to several Asia country such as Malaysia, South Korea, Taiwan
and Philippines.
Develop other earthworm farm in several agricultural areas in order to empower
more farmers and expand our raw materials supplies especially in Lembang and
Bogor.
Release the final product of hatchery feed for 3 different categories, for fish,
shrimp, and eel based on its protein content and the adhesive used.
Establish a small-scale feed mil industry with target production capacity
200kg/month of worm powder. Provide the additional income for more than 40
worm growers in Ciwidey.

Financial Projection
Year

2018
2

2019
3

Capital (Depreciable)
Capital (Working)

2017
1
60.000.000,0
90.000.000,0

Production Capacity
Worm Powder (kg)
Organic Fertilizer (kg)

500,0
24.000,0

1.500,0
36.000,0

2.100,0
48.000,0

128.400.000,0
10.000.000,0
138.400.000,0

205.200.000,0
15.000.000,0
220.200.000,0

303.000.000,0
25.000.000,0
328.000.000,0

185.000.000,0
125.000.000,0
60.000.000,0

465.000.000,0
375.000.000,0
90.000.000,0

645.000.000,0
525.000.000,0
120.000.000,0

244.800.000,0
36.720.000,0
208.080.000,0

317.000.000,0
36.720.000,0
280.280.000,0

Variable cost
Fixed cost
Total cost
Total Income
Worm Powder (Rp/kg)
Organic Fertilizer (Rp/kg)

250.000,00
2.500,00

Gross Profit
Income tax (%)
Net income

0,15

46.600.000,0
6.990.000,0
39.610.000,0

Depreciation (%)

0,10

6.000.000,0

6.000.000,0

6.000.000,0

0,00

33.610.000,0
-116.390.000,0

202.080.000,0
85.690.000,0

274.280.000,0
359.970.000,0

Discounted cash flow (IDR)

Net Present Value (IDR)

*In IDR unit

Outcomes

Business Benefit
o Potential to be a market leader as a
worm powder supplier in 2-3 years
o Became a pioneer in sustainable
business model
o Having a more efficient supply chain
as a feed mill company

Social and Environmental

Benefit
o Accommodating for at least 40 earthworm
growers to buy their harvest
o Provide additional monthly income up to
IDR 3M for smallholder farmers in rural
areas
o Resolve the problem of waste management
especially at dairy farm areas

Ciwidey Social Venture

(Cacing-ID)
Earthworm supplier and worm powder
producer.

(+62) 812 2000 1202

mail@cacing-id.com
www.cacing-id.com
Facebook.com/cacing.indonesia
Instagram.com/cacing.id

Our Products & Service

Earthworm Farm
Installation

Lumbricus Powder
Feed additive that can improve the
immune system in some fish, shrimp and
eel. Currently used in fish & eel hatchery.

(Service)

Protein content 59% (IPB Lab, 2016)

Earthworm Castings
Earthworm by product that can
be sold as the organic fertilizer.

Live Worms
Several species available: Lumbricus
rubellus, Eisenia fetida, and Eudrilus
eugeniae. Mostly used in fishing pond,
fish farm and bird farm.

Our Earthworm Farm

Harvesting Method

Downstream processing

Shipping and Delivery