TECH 101 Introduction to Engineering Entrepreneurship Milestone 4 Presentation - Neowuémene

Summary

New Women, a startup of five professional women, presents 'Tap Me to Find My Mommy,' an emergency tap air kit designed to address child safety concerns in public spaces. The product, aimed at children and vulnerable individuals, includes an NFC chip for easy location. The company conducted market research, identified competitors, and developed a financial plan with a startup capital of 250,000 pesos. They project a profitable business model with a focus on online marketing and sales through platforms like Facebook, Instagram, and Shopee. The venture aims to provide peace of mind to parents and contribute to societal safety and partnerships.

Takeaways

• 👩‍💼 The presenters are from a startup company called 'New Women', consisting of five professional women aiming to create a brighter future.
• 👶 They are introducing a product named 'Tap Me to Find My Mommy', an emergency tap air kit designed for children and vulnerable individuals to prevent getting lost.
• 📊 A survey was conducted to validate the need for their product, and the majority of respondents agreed on its utility.
• 💼 The company used Samsung as a model to estimate market size and identified their target customers through a consumer persona analysis.
• 🏆 They have a value proposition canvas detailing the benefits and pain relievers their product offers.
• 📈 In Milestone 2, they listed competitors, conducted a competitive analysis, and presented their product's unique selling points.
• 🛒 The MVP (Minimum Viable Product) includes photos, descriptions, and links to the store and a video demonstrating the product's functionality.
• 💼 Venus Armadillaga, the CDO, discussed the financial plan, startup costs, and profit and loss forecasts.
• 📈 The company's financial projections show an estimated sales growth and a positive net profit over the next five years.
• 🌐 The go-to-market strategy includes social media presence on Facebook and Instagram, with a focus on reducing parental worries and aiding in child safety.
• 💼 Francis Mi Malto, the CMO, highlighted the importance of cash flow management for current obligations and future planning.

Q & A

What is the main product being presented by the startup company?

The main product being presented is an emergency tap air kit called 'Tap Me to Find My Mommy', designed for children and persons with disabilities who are vulnerable to getting lost in public places.

What problem does the product aim to solve?

The product aims to address the problem of children getting lost in public places, which can lead to anxiety for parents and, in worst cases, abductions or kidnappings.

Who are the founders of the startup company?

The startup company is founded by five professional women who share the same goal of creating a brighter future and addressing societal issues.

How did the company conduct market research for their product?

The company conducted a survey to understand the problem they are trying to solve and used Samsung as a model to estimate the market size. They also created a value proposition canvas to outline the benefits and pain points of their product.

What materials were considered for the product's design?

The product initially used plastic for testing instead of polycarbonate to ensure the cover of the product is not too thick and that the chip can easily connect to the device.

What is the minimum viable product (MVP) of the company?

The MVP includes photos of the product, its main description, and links to the store and a video demonstrating how the product works. The MVP has been tested, and its validation and the target audience's quantity have been determined.

What is the financial plan for the startup?

The financial plan includes a startup capital of 250,000 pesos, with a focus on online sales and marketing to keep costs low. They have a profit and loss forecast that projects their revenue and expenses for the next six to twelve months.

How does the company plan to market their product?

The company plans to use social media platforms like Facebook and Instagram, along with online selling platforms, to market their product. They aim to engage and interest their target customers through these channels.

What is the target market for the 'Tap Me to Find My Mommy' product?

The target market is parents, particularly those with children aged three to five years old and persons with disabilities, in the National Capital Region (NCR) of the Philippines.

What are the company's strategies to increase customer lifetime value (CLV) and average revenue per user (ARPU)?

The company plans to increase CLV by offering loyalty offers and tracking repeat purchases, and to increase ARPU by engaging unidentified individuals and converting them into customers. They also aim to establish a reliable source of revenue through subscriptions.

How does the startup's venture align with the United Nations' Sustainable Development Goals?

The venture aligns with the goals of 'Promote Justice, Strong Institutions' and 'Build Partnerships for the Goals' by providing a solution that helps locate lost children, reducing parental stress, and promoting sustainable technology in the Philippines.