11 responses to “A3 – Loqui”

  1. JacksonLiang

    FEEDBACK: Hi Aaron. I liked your description of the target market. It really put me into the shoes of who I would expect to buy into your venture. You were cognizant of highlighting their age, objectives, likes and dislikes in the persona. You also came up with a unique idea that integrates the metaverse into your application. I understand your program will be for intrinsically motivated individuals; I wonder if there was a way your pitch would address security issues. With many apps that involve talking to other individuals, I wonder will there be security measures put in place to put investors at ease.

    ( 1 upvotes and 0 downvotes )
  2. Marie-Eve Masse

    REVIEW: Hi Aaron, your product and elevator pitch make me want to invest, well done! I think this is a super interesting concept that could benefit your target market. I especially liked highlighting Tom in detail, as it’s the perfect ‘story’ for a pitch. I appreciate you having two ‘metaverses’ to allow people to still access content if they were not able to pay. Your use of ‘Porter’s 5 Forces’ is sound. I would recommend two reviews to strengthen this pitch for potential investors: 1 – The visual quality of your website is not at the same level as your pitch video. I would recommend more photos, and attention to how the information is broken down versus having paragraphs of text. 2 – I would increase the budget for your VR development. I know you mentioned that it would be done in Romania. However, I recently received a quote from a company that was going to develop VR for my workplace. It was anticipated to cost $50K for 7-9 micro VR lessons… hope that helps!

    ( 1 upvotes and 0 downvotes )
  3. Nathan Bishop

    This is a solid pitch. You are absolutely right that facilitating conversations in the target language is the key to really learning it and that a lot of the platforms out there don’t do a great job of this. Further, your efforts to immerse the learner in the culture as well as the language via the metaverse is a key differentiator. I am not familiar with other platforms or services that are doing this at the moment. I do question the target market of people between 22 and 40 without children and think there could be a missed opportunity there. I think people without children and 22-40 are exactly the types of people who can travel to other countries and immerse themselves in the real culture. That said, they may choose to use Loqui in preparation for a trip, which would be useful. Either way, I feel you can open up the target market even wider. As an investor, I am happy to see that you have built in opportunities for additional revenue streams i.e. gifts and add-ons. I also believe your strategy of allowing users to sell their services and create a language services marketplace will generate a lot of interest. Those who master a language on Loqui will then be able to turn around and make money utilizing those new skills. This will drive more users to the platform, which is crucial for its success. The only thing I would like to see before investing is a plan to get the user base up to critical mass. I fear that without enough people, Loqui will not become a space that people want to spend time in.

    ( 1 upvotes and 0 downvotes )
    1. Aaron Chan

      I agree that children/young learners are a huge market for foreign language education. Spent a while thinking about that… and decided to leave them out for now, at least initially. I think the motivation for learning a language is different for school students. Also, I wanted to try and establish a certain metaverse culture/brand.

      ( 1 upvotes and 0 downvotes )
      1. Nathan Bishop

        That makes sense. I wasn’t really thinking about the metaverse culture, which I realize is actually hugely important to Loqui’s success!

        ( 0 upvotes and 0 downvotes )
  4. John Wu

    REVIEW: The pitch was clear and to the point, well done on that aspect. I enjoyed how concise all your points were which made it easy to understand the vision you’ve set out for Loqui. Your idea is also quite relatable on a personal level as it reminds me of when I was learning Japanese (in the form of traditional language class formats which wasn’t particularly effective). Using the Metaverse to allow social dialogue is important and probably a key component as to how individuals gain fluency in languages, you need a venue/environment to practice it! That being said, I would have liked to see more detail on “The Problem” such as reasons why individuals lack opportunity or motivation while being supported with some key data/findings. As an investor, what I would look for are problems which are widespread to the point where it’ll compel me to take action. Also, why is VR the best solution in this situation or whether the future of VR is worth investing into for language learning (as an investor I would like to know that). For the business model section, it could have been boosted by including some reasons why Loqui’s business model stands out or what differentiates it from other Freemium vs Premium brands. As for investment and funding, I like how you’ve listed the expenses in a clear manner but as an investor, the Ask and Return seems to be lacking in the sense of “what would I get in return?”. Overall, great work and direction, looking forward to the future of language acquisition via VR.

    ( 1 upvotes and 0 downvotes )
  5. mstr

    FEEDBACK: Hi Aaron, what a cool idea! I feel that adding the VR dimension to the language learning experience is a game-changer! I’m curious where the name Loqui came from? Google tells me it may mean talk? If so this would be worth mentioning. Personally, I felt left out of Loqui’s target audience – as I don’t identify as a 27-year-old white male. This market to me should be much broader and more inclusive – you are leaving a lot of potential customers on the table. Overall, very well done, I like this idea, and think investors will too!

    ( 0 upvotes and 0 downvotes )
  6. Hayley Mooney

    FEEDBACK: HI Aaron, I second Meagan’s feedback above, I think it’s a really neat idea, but why aim it at working professionals with no kids only? Apart from that, I certainly would agree that learning a language by immersing yourself has much more appeal, and chance of success than repetitive gamified apps. That being said, I noticed that you mentioned there were competitors who also already provide this service. What differentiates your experience from theirs? I would love a bit more information on this.

    ( 0 upvotes and 0 downvotes )
  7. mHHm HmmH

    REVIEW: Hi Aaron, I really enjoyed reading your venture pitch. The video was very engaging and went straight to the point. I enjoyed reading your proposed solution to have a VR field-trip for Japanese Language Learners. I think it can be really beneficial to the adult audience who may not have time to go through traditional textbooks to learn a new language. Your initial startup cost is quite conservative considering the amount of technology / manpower needed to create the software/VR experience. It might be good to explore the scope of the problem again to see if the cost will cover all the items that would be solved by the VR experience. Secondly it may be interesting to see some sort of prototype of the venture. The images chosen for the top banner doesn’t really convey the Japanese languages learning VR immersive experience to me. Adding some videos / visual elements /similar prototype may convey the idea better. Lastly, I appreciate how you included Porter’s 5 forces, I learned a lot from the stats and facts that you included in that section. This was a very well done venture pitch. Thank you for sharing!

    ( 0 upvotes and 0 downvotes )
  8. Kyle

    [FEEDBACK] I am intrigued by the concept, and while you have pitched this to learning a language, is there a potential to broaden the scope and thereby increase the marketability? The use of AR and AI in combination is an interesting way to differentiate yourself from the huge players of Duolingo and Rosetta, and perhaps creates further opportunities for revenue streams. My main concern here is about accessibility, what is the minimum technical requirement for users to be able to make use of your AR technology and is that going to be cost prohibitive in that it shrinks the market? What is the market size and how are you going to move them over from other platforms to yours?

    ( 0 upvotes and 0 downvotes )
  9. robyn godard

    FEEDBACK: Hi Aaron! I really enjoyed your pitch and think it is a great idea! I also have used apps for learning initial grammer and speaking but never get beyond the basics, so as someone in your age demographic, I definitely would be interested. I like that you have created a fairly niche target market, which I think will allow you to develop a fairly targeted marketing campaign, but also agree with some of the comments here that there could be opportunity to expand this in the future. I think a lot of retiree’s also have a lot of time on their hands and are interest in travelling and learning, so this could be a demographic to consider in the future!

    ( 0 upvotes and 0 downvotes )

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