You can find my elevator pitch for “Mind Traction” an m-learning performance support below: https://www.youtube.com/watch?v=4AmhbODxd2k I have uploaded the venture pitch to the media gallery as a PDF: https://blogs.ubc.ca/etec522sept11/files/2011/11/price-Etec-522-venture-pitch-mind-traction.pdf
Continue reading AS3 Mind Traction Pitches Posted in: Week 13: Venture Forum
Hi All, My A3 production can be found here https://blogs.ubc.ca/ebookventurepitch/ .I hope you will enjoy it. Everton
Continue reading A3 Venture Pitch Posted in: Week 13: Venture Forum
Your venture is a multi-level marketing scheme?
I have to be honest. After watching te elevator pitch, I was left thinking that your proposal was for some kind of pyramid scheme. I did, however, take a look at your written venture, so you obviously caught my attention – even if it was for the wrong reasons. Your proposal makes sense and there is clearly a need for an intervention such as this one. I question, however, how you can envision the type of growth and far-reading global markets you describe. I’m not sure how you could go from an idea to having people heading up operations in different areas of the world. It seems like a pretty risky proposition. I would be more comfortable with a growth plan that starts with a much smaller niche market that you are very familiar with, and expanding from there. There are some great ideas here that may work better as a non-profit.
Emily
Everton,
Your elevator pitch on ‘ebook’ is a good one. The presentation of ideas and audio were clear. The graphics and font size were good.. In light of the major drive worldwide of ‘go green’, this product would definitely protect our environment and promote the go green concept. Ebook would definitely bring flexibility to the educational markets. I think the idea of creating a network of ebook is good way for persons to advertise the product and earn as they do so. But it could be risky business.
Conroy
Hi, Everton.
First, my criticisms:
– having the video on the blog, as the blog needs work – nothing custom, including leaving the first generic post on
– the voice – the intonations / choice of delivery had me backing off
– greatly exceeded the maximum video length
– end credits playing while voiceover is still going
– is this some kind of pyramid scheme… seems sketchy now
The good news / potential?
Don’t market it as a reading solution, because it isn’t. You have a money-making plan based on social structures. Use analytics or some kind of tracking and rewards scheme, and be up front about it. There’s potential there, but it needs some tweaking and a different approach.
Cheers,
Stephen
Hi Everton,
I think your venture has a market that is increasingly growing over time. You have provided a detailed venture pitch with information about the market and the product. However, I would suggest you to provide more information about the ask, the reader and marketing (how buyers/users will be reached), in order to be easier to an EVA to make a decision.
Cheers,
Angela.
Elevator pitch assessment
everton walker – ebook venture pitch
First Impression: voiceover slides, sounds like a woman’s voice but Everton is a man, seems to be a multi-level marketing scheme
CEO Credibility: The CEO does not appear as an image or video although there is a voiceover by woman all the way through. The voice shows some excitement but as the pitch is a multi-level marketing scheme, that excitement feels like a get-rich-quick pitch, not an investment pitch. I might take a negative inference based on the fact the CEO is unwilling to appear or voice this himself.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team
Venture Concept: Doesn’t explain how it improves learning or reading. Images appear unrelated to voiceover. Appears to be a multi-level marketing scheme to sell e-books. It’s not clear whether it’s the readers being sold or the text in the readers. This is not so much a learning tech venture as a get-rich-quick scheme.
Opportunity Space: Claims a market worth billions expanding quickly worldwide. Doesn’t describe a target market, projected market share or revenue.
Market Readiness: Describes a multi-level marketing approach to distribution and sales.
Competitive Edge: No competitive edge described unless the MLM distribution is considered a competitive edge.
Exit Strategy: Hints at an MLM exit strategy, which is basically recruiting as many people below you as possible to get an unearned stream of income.
Overall Investment Status: I don’t see the CEO or the team, I don’t know who the targeted market is. Appears to be a multi-level marketing scheme for a commodity (e-readers). I consider this extremely high risk and would not pursue.
Hello Everton,
If I understand your elevator pitch correctly, this is sort of Amway for e-books. Will your team be creating the e-books (writing them, or working with publishers to create them) and the e-book readers? In your venture pitch, it sounds like you will also have a service (provided by ‘partners’ or your core team?) that will offer training on how to use the affordance of e-readers to support students’ particular needs. I think providing support for educators around the world to use technology is a really worthy venture.
Andrea
Hi Everton,
To be honest, I have to agree with what other coursemates said. I don’t think your intention is to make this a pyramid scheme, but your venture is a bit sketchy to me too.
Deb
Hello Everton,
My feedback matches the impressions posted above. I’ll admit that I had to watch your elevator pitch a few times to truly absorb your intentions since I was initially focusing on how your images and audio seemed out of sync. Overall, the intention of your product, a network to help combat world illiteracy, is admirable, but as an investor I would need more ask and marketing information before I got to involved.
Everton,
I really appreciate that you presented another aspect to the assignment in your CEO of a company capacity. This provided a different element to our experience and analysis.
You offered some valuable attributes of the e-book that I think would be big selling factors. Is your suggestion of creating a network, what you would add to your being the CEO of an e-book company?
Here is where I think your idea trumps – If you focus on a target market of struggling readers with your features as ‘built-in dictionaries, text-to-speech feature, bookmarking, reminder of where the reader stops the last time among others’, then from there identifying your competitive advantage that would make your e-book different from its competitors.
Schools can order books. Networks being created by discounts for everyone who you sign up or a commission for every x e-books sold or discount for every x e-books bought. I believe your image in the elevator pitch shows a pyramid, which may be suggestive of a pyramid scheme, where many investors shy away from.
In your elevator pitch you also mention the advantage of collapsing many textbooks into an easy to use and easy carrier. Another angle you may pursue is to engage with partners who offer e-text packages tailor-made for your market that come with your e-book.
I believe that the e-book can indeed offer so much to the education system!
Kerry-Ann
Hi All, For my Assignment # 3 I have examined cloud computing in schools, concentrating mainly on a small independant venture by a small company nobody has every head of, the Apple iCloud. The reason I chose this is that I am not a proponent of cloud computing and wanted to put myself into another […]
Continue reading A3 – Looking at the cloud Posted in: Week 13: Venture Forum
your icloud pitch doesn’t feel like a pitch; it feels like a well-researched background document from a consultant who has been asked to look into it. I don’t know whether this is a good or a bad thing. You have provided a description of the pain and solution, as well as barriers and financial ramifications; it is all there. You didn’t seem overly passionate about this solution, but you did give the disclaimer that you were trying to convince yourself of the merits. You are right to point out that iCloud has its weakness in being stuck with macs. This in and of itself does not support school and district-wide adoption. Especially if students are bringing in their own devices. Cloud-based networking that is available to more than macs seems to make a lot more sense. Good overview!
Emily
Nice elevator pitch David! You managed to include a lot of facts into one minute, and it seemed very well researched. One suggestion I would make is to reduce the amount of text on your slides. Some of them are really text-heavy and it takes away from your narration since the listener is trying to read as opposed to listening to your explanation (which is really good!). Instead, I would suggest using a graphic or just having the slide say “For Students”, “For Teachers”, etc. while you’re explaining.
Hello David,
I agree with Emily’s comments about your pitches, but after reading your full venture pitch document I was definitely convince of the value of switching to cloud computing. However, I still have a lot of questions about how this would be done – what steps would school or district administrators, support staff, and teachers need to take to make this happen? What is the initial investment of time required to make this switch? What are the costs associated with this time, and would staff training be required? I think there’s an interesting venture in helping schools make the transition to cloud computing – become the guru who works out all the details and supports the local team to make the changes.
Thanks for presenting such an informative piece on cloud computer. You’ve convinced me of it’s value!
Andrea
Hi, David.
I liked the music, graphics, and voice in your pitch. For reasons similar to Ashley, I found it frustrating to watch – the timing of the voice and slides with text didn’t match. I found myself either closing my eyes to listen or watching it while trying to ignore what you said.
You’re right in that assessments in the cloud reduces student excuses, but there are still students (at least in my school) with no computer, a broken computer, limited Internet access, or no access at all. Also, when you mentioned the lack of need for powerful computers, I assume you meant just within schools? With my EVA hat on, I was looking more for original / new ideas to invest in. You pitched the idea well, though – there are clear benefits. Some may still have questions about where to go from “here”, though / how to implement it.
Cheers!
Stephen
Hi David,
As Stephen mentions, your pitch has a good combination of music, graphics and voice. Your pitch certainly has a market to cover. Maybe I am wrong, but I feel that it is more a rich and detailed research about the product than a pitch. I do agree that we are at a changing phase regarding to technologies and education. I also agree with your idea that we must go with the flow of technological innovation. Your venture offers an innovative concept and your market will increasingly grow over time.
Cheers,
Angela.
Elevator pitch assessment
Dbertjaw – iCloud
First Impression: no face, voiceover and music with slides, too fast to read slides, appears to be a sales pitch rather than an investment pitch
CEO Credibility: The CEO does not appear as an image or video although there is a voiceover all the way through. I have the voiceover to judge CEO credibility. The voice has no passion. I might take a negative inference based on the fact the CEO is unwilling to appear.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: Apparently the icloud is about collaborative writing, realtime communication, anywhere access, marking, getting assignments, e-portoflios, and saves money. There’s no description of what icloud is or how it works.
Opportunity Space: There’s no description of the intended market although the first slide mentions school boards, or what the market size is, or the target market or revenue this venture can capture.
Market Readiness: No description of how this will be marketed or distributed, how to enter the market or how to grow presence.
Competitive Edge: Claims to save money but doesn’t explain how. Doesn’t explain current costs of existing systems or projected costs of cloud systems. Doesn’t explain how it is different from other cloud approaches. Doesn’t explain what the venture does. Is iCloud the Apple offering? Who is behind this venture?
Exit Strategy: No indication of their target market, its size, or how they will capture it. No indication of what investment is wanted or how it will be repaid.
Overall Investment Status: I don’t see the CEO or the team, I don’t know who the targeted market is. I don’t know how my investment will be repaid. I don’t know how this will be marketed. I consider this high risk and would not pursue.
Hi David,
I liked that you chose to critique an existing technology (icloud) and its benefits schools. What I find more interesting is your approach to the assignment; taking something you have never supported, further assessing it and that you “grudgingly” observed that the benefits outweigh the costs. 🙂
I too am often worry about privacy and while Apple may argue this is wholly overstated (though have a slight bias in their opinion) I find the idea of being tracked and monitored a little unnerving. But your argument about the ability to remove potentially privacy-invading software such as back-ups put this to ease for those that worry about this.
I share the concern with Stephen that while the cloud allows access from any location there are many students that do not have access to computers from home.
Thanks for providing this venture critique and the benefits that potentials it has for schools.
Jay
Hi David,
You did an excellent job on catching people’s attention (or at least mine). Your elevator pitch had clear explanation on what your venture is. I especially liked how you used a point form to explain why iCloud is working for teachers, students, and school boards. Graphics were great and your voice was also clear.
As for the venture pitch, it would’ve been a lot easier for me to read if you could divide your paragraphs into sub-sections (e.g. What is iCloud?, Marketing, How it works, etc.). Adding some images could also help catching readers’ attention.
iCloud is a venture that I’d like to know more about as I was recently introduced to iCloud but still have no idea when and how to use it. You did a good job explaining how teachers can implement it to teaching.
Deb
I’d just like to thank eveyone for the comments. I am aware that this may be seen as more of a research pitch then a venture pitch (if that is possible). My reasoning for completing the project this way is that, quite frankly I do not particularly like cloud computing and wanted to convince myself. I almost did.
Criticisms accepted, I am always guilty of trying to cram as much information as possible into anything, including pitches. This may come across as confusing, agreed. Although trying to fit what you want into a pitch is tough. I had to cut down on what I wanted to include.
However, I do need to comment on not using my face, or likeness in the video. This is me defending my project. I am aware that this is an elevator pitch, and we only have a short amount of time to promote our product. I am not comfortable using my likeness on screen, and on the internet. This is my choice, and I respectfully understand that perhaps some people do not agree with this choice and thus do not consider this an proper elevator pitch. However, the course description clearly states that we are required to “Create a short, media-rich “elevator pitch” (1 minute maximum, using any medium or tools that most persuasively conveys the essence of your venture)”. This is my medium of choice, and one that I believe conveys the essence of my venture. I can accept and respect criticisms of my content. However I respectfully disagre with those that are criticising my pitch because I chose a different medium that is percieved as untrustworthy and improper. I chose this medium because I believe that it best conveys the approach of a large (now) faceless corporation.
Thank you all for a great semester.
David Berljawsky
Feeling a little out of my league here but enjoying everyone else’s! ClickView Venture Pitch http://www.clickview.ca Elevator Pitch: https://www.youtube.com/watch?v=q7Pc9idfg5I Once upon a time, before the internet, people used to watch videos on things called videocassettes. These videocassettes gradually fell to the wayside to make room for the DVD. As we have progressed, many people now […]
Continue reading Finally . . . Posted in: Week 13: Venture Forum
Hi!
This sounds like a really innovative way to solve problems faced by many educators (availability of resources, bandwidth). I found that after the pitch was finished, I had many questions as to how exactly the project worked– which I guess is the intention of the pitch, to engage and stir interest. Having said that, perhaps there is a way to include some more concrete examples of how to incorporate this tool into the classroom.
Thanks for the pitch!
Kristopher
Hi Michelle,
I like some of the features of this software such as the ability to provide a complete view of lesson information related to the video. Like Kristopher I had lots of questions about how it worked but I thought I would start with getting a little bit more clarity about the venture itself. This looks like a product that is already in existance so from an EVA perspective I’m curious about what you are looking for. e.g. are you involved in this company and are looking to market the product in Canada or something along those lines?
Hi!
I enjoyed your elevator pitch, the use of narration and text worked well together and the timing of your text is very clear and easy to read. Clickview sounds like an interesting product and if it does solve the problem of bandwidth and networking while allowing educators the ability to access material from any computer, I think schools would be excited to invest in this product. After watching your elevator pitch I was left wondering how the product works. Specifically, how do you access the material without streaming through a bandwidth or networked system? Regardless, it seems like a really interesting product and your elevator pitch left me wanting to know more.
Hi Michelle,
It is an interesting product, and is one that our school is looking into for future use. There are a lot of questions surrounding the issue of VHS tapes and DVDs. It sounds like the VSB is thinking that DVDs may not be available in the near future. But I’m not very clear from the pitch as to what your venture is. I already know a bit about the product so I’m wondering where a new investor would fit in with its development or marketing?
cheers
Doug
Hi Michelle,
You have presented an interesting and innovative product. It addresses the needs of a number of educators and students. As a teacher of Social Studies, I think I would be interested in trying it. As it has been mentioned before in this discussion forum, I would like to know more about how does ClickView works. As Julie, I am curious too about your relationship with the company as it is a venture that seems to already exist.
Cheers,
Angela.
Elevator pitch assessment
Michelle Workman (themusicwoman) – Clickview
First Impression: no face, very little voice, mostly music and slides,
CEO Credibility: The CEO does not appear at all – very little voice, no image or appearance. I have nothing to judge CEO credibility on. I might take a negative inference based on the fact the CEO is unwilling to appear and be heard.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: Apparently some way of allowing watching digital video in a school without using AV equipment (but it doesn’t say how the video is consumed, presumably on computers? Wouldn’t there still be a computer and projector? Does everyone have to use a computer to see it?). It doesn’t use streaming but doesn’t explain why that is important or how it does work. Apparently there are over 1000 of existing titles but we don’t know what they are or who they are targeted at. Apparently video can be added or edited but it doesn’t say who can add or edit or how or why. Apparently video can be saved to a USB key but it doesn’t say who would do this or why.
Opportunity Space: No description of the intended market beyond “schools”. No description of the market share or pricing.
Market Readiness: Appears to already exist as a product but o indication of switching costs for schools to switch to the new concept, and no indication of existing sales or market penetration or pilots.
Competitive Edge: Apparently they have a patent but it’s not clear what their non-streaming technology is or why it is desirable. No indication of where patents are held (Australia only?).
Exit Strategy: No indication of their target market, its size, or how they will capture it. No indication of what money they want or how I will be repaid.
Overall Investment Status: I don’t see the CEO or the team, I don’t know who the targeted market is. I don’t know the intended pricing. I don’t know how this will be marketed. I consider this high risk and would not pursue.
Dear David,
Thank you for the very clear and concise assessment! I totally appreciate it 🙂 Now, if only there was a way to re do it . . .
Hi Michelle,
I think you have proposed an interesting idea for Canadian schools and one that appears to see investment in other regions. I understand the idea of a video database that includes lesson plans and worksheets. What I am unclear on is how this is better than AV equipment. This will still require access to a computer even if there is no projector. How do students view the videos? from one central computer used by the teacher? In a lab setting where all students are at there own system? I am unclear where this provides benefits.
It appears that your are advocating that Canadian schools invest in an existing venture. Do you have any relation to the venture? I think one very strong feature of Clickview is the willingness to give a trial at schools. This would answer any questions schools might have and would allow an investor to see first-hand how and if the product fit their needs; A strong component.
Hello Everyone, Following you can see my Elevator and Venture Pitch. Angela’s Elevator Pitch [kaltura-widget uiconfid=”534″ entryid=”1_8ied23pq” width=”400″ height=”330″ addpermission=”” editpermission=”” /] You can access to my Venture Pitch here
Continue reading Angela’s A3 Posted in: Week 13: Venture Forum
Hi Angela,
You beat me to it! I had an idea like this previously, but I didn’t take the time to develop it. You did a great job and I think there is a good market for this. Even here I think teachers can benefit from services such as these, but I think the barriers will be who will pay for the services. That was something I wasn’t clear on in your presentation…who will be expected to be paying for the services? Is it the teachers themselves or the administrators above them?
There were also a few sections of the presentation where the slide transitions were off making it difficult to follow, but you make up for it in your elevator pitch, which was great! I really enjoyed the elevator pitch in that it was catchy and drew my interest.
Juliana.
Hi Juliana! Thanks for your comments! About some things that wren’t clear, you are right, and I did not realize it before. I expect that school administrators pay for these courses. That is how I work in the coaching services that I had offered (the school pays me for training their teachers).
Angela.
That is such a great service! I don’t think we have anything similar to that here in BC. I think many teachers would love such assistance.
Juliana.
Hi Angela,
Great pitch and idea! I agree with Juliana and definitely think there is a market for this product. I am also a little confused about who will be paying for these services, I am assuming the administrators?
Also, I think the music was a little distracting for me. However, I think you have a really great idea and definitely had me engaged!
Jenaca
Hi Jenaca,
Thanks for the feedback. It is really useful as I wish to create this venture in the future. About your doubts, please refer to the response I provided to Juliana.
Cheers,
Angela.
Angela,
Loved your elevator pitch! Excellent graphics, great music and a strategic concept for a venture. It looked like it was professionally done and made me go right into your venture pitch. I think you have identified a significant gap in the market and some valuable solutions to accompany it. Time and planning are in such short supply now – for everyone – so the market is quite realistic and expanse. Excellent job!
Thanks for your comments Deb! Much appreciated.
Angela.
Angela,
I agree with the others – this was well done, and thanks for describing the experience faced by teachers in Chile – I didn’t know about the competency requirement for IT – wish we had that in Ontario!! You have done a great deal of planning – your details are clear, except as other have said, who is the buyer of your service…but I see by your reply what you intended. Your price point is very reasonable as well – the competency requirement is a great motivator for teachers to take advantage of your service.
Brenda
Angela,
I concur with the others that your elevator pitch was professionally done. The graphics selection and sequencing slides were good. I really like it. In addition I think that this product is a good market venture and has the potential to attract a lot of users. I know that Jamaica’s educators would definitely like a product of this nature. Well done.
Conroy
Hi Angela,
I like the presentation.
Is my understanding correct … that what you are offering is a service ?
Assuming that your team is offering services, how do you protect your market?
Is there something only your team can provide ?
does your team get monthly salary or is it commission basis? I would like to have an idea of your operational costs.
If a company invests, say $1M, how and when would they get their return of investment?
cheers,
Stephen
Hi Stephen… thanks for your comments. About your queries…mmm…rough questions… but I will try to answer them:
About the first and second: I am offering a service and what differentiates my service from other competitors is that I offer coaching services both in technological innovation and application of theory in instruction (PBA pedagogy and Social Constructivism). Maybe I did not stated clearly this (even I thought I did). Today that would protect my service, because in Chile there are few people specialized in both fields and all of them are working with me.
About your third question: As this is still a venture that we are thinking on we have not defined if it will be monthly salary or commission based. I have seen from other coaching companies in Chile that they usually base in a low monthly salary and a commission, depending on the number of projects they reach per year.
If the venture succeeds and reaches a fair amount of schools to train, I think that the investors would get their return of investment after the first year of running.
Hope to have answered your queries.
Angela.
Hi Angela,
Your venture is a great idea, as teacher training is one of the biggest hurdles to tech integration in schools. We believe that technology can help us do more with less.. but we first have to learn to use it first! I wonder if your target market is the individual schools (K12 and higher education?) or the public school districts. For public schools, there are “Professional Development” days, which happens a few times a year in our district, where teachers share their knowledge through workshops. However, we are rarely given collaboration time throughout the year to help each other out. Having a tech-mentor would be awesome! 🙂
carmen
Hi Carmen,
Thanks for your comments! I intentionally did not explain this because Chilean education system is different from the system of North America. So the “public schools districts” criteria would not apply. But I am targeting to public and private educational institutions. The timing of implementing the projects takes place during the academic year and last about 1-2 months. Trainers are able to visit the classroom and think on designing an activity that meets the needs of that classroom. When the trainer come up with an idea, he/she will assist the teacher and students in the management of the technology that will be applied. So, everything happens in the classroom and in the hours devoted for non teaching curricular activities. The innovative thing of this service is that the teacher is assisted both in technology and theory by an expert in both fields. The teacher is being accompanied by a mentor during the time-frame of implementation of the project. As here in Chile we are few who have been preparing in the field of technology and education, we have to start with few costumers. But I think that by having 9 costumers (1 per month) by year we could be receiving incomes and try to expand.
Cheers,
Angela.
Hi Angela
I like your value proposition. You have done a great job with the presentation. Your pitch highlighted the pain point and solution clearly. Competitors were identified which is good. You also mentioned a differentiation strategy where you would offer pedagogical support, but you did not state “how”. I think this would make the venture more appealing since this is a factor that would make me invest in your venture over another. I would also love to hear some more about how the concept work. I was not quite sure of the target market. I think this needs to be clearly identified. Based on the cost, it seems that this venture is poised for success, however I would need some ideas in terms of timeline for returns on investment if I decide to invest. Again, your venture preposition is good and is worth pursuing.
Keisha
Hi Keisha, thanks for your great feedback! Much appreciated.
About your queries I think that the response is on the answer I gave to Carmen (please refer to the message above).
Cheers,
Angela.
Dear Angela,
I am really impressed with your elevator pitch. Well done. Catchy. To the point. 🙂
I will not reiterate all the comments that have been previously made but I will say that I agree in that this is a great service . . . and one that would find a niche not just in the Chilean school system. Hats off to you for a great presentation.
Michelle
Thanks for your comments Michelle! 🙂 Much apprecieated.
Cheers,
Angela.
Hello Everyone, Here is my elevator pitch! Mini SMART Board I have also included my venture pitch which is a word file, please let me know if you are having any trouble opening it! MET WordPress Cheers, Jenaca
Continue reading Jenaca’s Assignment #3 Posted in: Week 13: Venture Forum
Hello Jenaca,
Thanks for the great pitch. The music is clean without providing a distraction, but guides the viewer from problem to solution. You have perfectly timed the writing on the screen with timing required to read it. From the pitch, I found it a little difficult to see how it was different from a standard board, but then realized that it was 7×9 inches; I might focus more on the features of this product that make it different from an iPad or other tablet, as that was the impression that I was left with.
Cheers,
Kristopher
Hi Jenaca,
Nice video elevator pitch!! I like the change in music when your introduce your product after the stated problem. I don’t see any problem with your pitch but I am left with some questions about the product as proposed and how it would work. There is already a SMART slate product which is a wireless tablet input device that connects to SMART products. How is your product different? Is it actually a mini SMART board? If so, does it have a mini LCD projector attached that projects an small image onto the 7×9″ whiteboard? If not, how does the image get onto the surface of the whiteboard? Is it an iPad-like device that produces the image internally? I think this is a really, really cool idea but I am having trouble seeing how it is different from the SMART Slate or from an iPad-like device. Maybe a suggestion for improvement would be to clearly show how your product is unique and different from the SMART slate or a tablet device.
Jenaca,
Nice pitch and smart piece of technology too! I am also happy that handwriting and typing are catered to. However, even though your idea is really great, you are going to have a lot of competition there are similar products on the market. I guess you will have invest in apps or new features to really be competitive.
Everton
Hi Jenaca,
The music and images you’ve chosen to use throughout your elevator pitch are very engaging and provides the viewer with a clear problem and solution. Like others have mentioned, the mini SmartBoard in your elevator pitch reminded me of an iPad or tablet, so I was left wanting to know how this product is different. It may have been your intention though, to get investors to be curious enough to go read your venture pitch.
Jenaca,
Great pitch! Your elevator pitch has a lot of great information in it. The music is engaging and the pictures add a lot. I like how you took an already existing technology (the SMART board) and made it portable (something that seems to be a growing trend). You really point out WHAT the mini SMART board will do but I was left wondering HOW it will work. I’ve never used a SMART board so I was also wondering (as others have pointed out) how do you plan on making your product different from say and iPad?
I also liked how you took a different approach to the venture pitch and wrote it down instead of making a video. Your reflection section was great too! While not a necessary part of a venture pitch I felt like it was valuable to me as a student. I enjoyed learning about your thought process in making this company! Overall, nice pitch!
Tamara
Emerging Venture Analysis: Mini-SMART Board
In order to analyze the potential of the Mini-SMART Board venture, we will consider both the internal and external positives and potential negatives.
Strengths
This new educational technology builds on the success of its predecessor: the SMART Board. By modifying an idea that has already taken substantial roots in Canadian classroom, and using that powerful branding, the Mini-SMART Board has huge potential to meet emerging needs (especially as needs develop from experiencing other similar technologies. This device has a minimized impact on the user as many educators are already familiar with the parent technology. The connected nature (wirelessly, with presumably a web interface for access outside of the classroom) of this device speaks to its flexibility and innovation.
Weaknesses
As much of the strength of the Mini-SMART Board is based on its parent technology’s success, it will also share similar weaknesses. The SMART Board is built to be most functional with the Notebook software (although it does work well with other popular software), which is somewhat limiting in itself. The parent product is known to change regularly and develop, creating a ‘always out-of-date’ sense with the product, which, likely this product would share in reputation.
Opportunities
Based on the venture pitch for the Mini-SMART Board, this product is backed by influential people from different areas (business, education, etc.). These endorsements represent a greater opportunity for infiltration into the mobile computer market.
Threats
The niche that this product is filling is one that is created largely by the iPad (and subsequent tablet and netbook computers). It is a wireless, touch-based tool that has great capabilities. If this product is not differentiated and its unique attributes highlighted, it potentially could be threatened as ‘just another tablet’.
Based on the success of tablet computers in general and the infiltration of the parent technology, I would recommend this venture for investment.
Jenaca,
I think this is a well-crafted pitch, with the audio and caption building up and making a good story. Having said that, I feel like this pitch is targeted to the consumer as opposed to the investor. The initial questions posed support this, as they are directly addressing people that working in education – which doesn’t necessarily apply to an EVA.
cheers
Doug
Hi Everyone,
There seems to be a large amount of confusion from my pitch and the product I created. As for the Mini Smartboard, yes in a way it is similar to the iPad however, much like apple created the ipad and blackberry created the blackberry playbook…. SMART Technologies created the “Mini Smartboard” which, stated in the pitch and more in depth in my venture pitch, is compatible with “other” SMART Tech devices…much like apple products are compatible to one another etc…
Also stated in more detail in my venture pitch is the use of this mini board and the sharing of files and information from SMART Tech accessories and devices. Of course it is necessary to implement the SMART Board itself and then adapt to using the mini SMART Board.
Yes this creation is actually a Mini SMARTBoard! That’s what I am pitching. It is essentially exactly the same as a SMART Board except students have their own, which would replace notebooks and paper items. Students, or business professionals could use this tool wherever they are and still be connected to the presentation or classroom lesson..
For example, if a student is sick at home, everything that has been presented on the SMART Board that day will be shared on their device…Virtually connecting them.
Also, I stated those questions at the beginning in hopes of targeting my investors personally, whether there past has been in educational, business or government settings…
I hope this has cleared up any confusion!
Thanks,
Jenaca
Hi Jeneca,
Thanks for the clarifications. I was thinking that you were looking for investors who were will to invest in the Mini SMARTBoard, which would be different than the other existing smart board technologies.
I really enjoyed your elevator pitch. Also I liked how you took efforts to make your venture pitch look like an actual report from the company. I thought that was a nice touch. While I know that there was no real stipulation with having any figures, I was wondering if a technology like this would be feasible in the public school market. I am not sure if schools would have the funds to purchase equipment like this for their students, even though it would make it easier for the students to keep up. I have found that schools would opt for the cheaper option of emailing students the information and having the students provide their own means of accessing the information (ie. through iPads, personal laptops etc.). This could be useful in a business setting, but again I can see the businesses not wanting to spend anymore money on an extra piece of equipment for their employees. Instead they would encourage their employees to access the information through their laptops or iPads.
However, I think you may have something here. Perhaps if you developed a type of software that connects a smartbaord to a personal computer which provided two way communication between presenter and audience, you may have a product that improves interactions and collaborations. You just need to ensure that the connections can be made between many points, such office to home or classroom to home. This means people and students can be connected regardless of location. And here’s the big thing…the software needs to be compatible with iPads, PCs, laptops, mobile technologies etc., and evolve with all the software updates that happen on each of the operating systems.
Hope this helps. If not, please let me know.
Juliana.
Hi Jenaca,
This comment is about your EP as I haven’t yet read your VP. From your EP, I find your product very intriguing, and I want to know more about it. This is a very good thing 🙂 I think it’s exactly what the EP is intended to accomplish. I did notice that the audience seemed to change midway through the pitch, from educators “are you frustrated” to investors. I wonder if you work here might be strengthened by only addressing the latter? As an example, instead of ‘are you frustrated…’ you could make the statement that ‘educators are frustrated with…’ I’m also wondering – how much are smartboards used anyway, within education, corporations, and government (The three areas your identify)? I ask this because these boards seem to be ubiquitous but i’ve never really seen them discussed in my ETEC courses (granted, this is only my 2nd one). I’ve only seen a couple of mentions of them being these expensive pieces of equipment that sit there, seldom used (that being said, my partner’s folks, middle school and high school science teachers, l-o-v-e their smartboards). Might your product be a reasonably inexpensive add-on that will add value to these perhaps underused pieces of equipment?
best, Allie
Hi Jeneca,
Thanks for your clarifying post it did clear up some things for me that I wasn’t catching. I think I just realized what you did. You proposed an extension to an existing product that is on the market. I did not pick that up and it caused some confusion for me. You are proposing this as though you are a representative of the SMART Board company. Sorry, I’m feeling a little bit of information overload at this point in the term.
With that in mind I think I would suggest a couple of tweaks for the elevator pitch. As Allie stated, I would switch the wording at the beginning from targeting teachers to making a clear statement that this is a problem. As a teacher you would have the credentials to make this a believable statement. I think it’s important to focus in the pitch the value of the collaboration benefits that you state in your comment above rather than just saying you can ‘pair’ with the SmartBoard. It’s hard to see the business value of ‘pairing’ two technologies but I get it when it allows me to collaborate without messy fiddling with technology.
Cheers,
Julie
The Elevator Pitch [kaltura-widget uiconfid=”534″ entryid=”0_m6e65h0j” width=”400″ height=”330″ addpermission=”” editpermission=”” /] The Venture Pitch [kaltura-widget uiconfid=”534″ entryid=”0_72hmy2pf” width=”400″ height=”330″ addpermission=”” editpermission=”” /] References Beare, K. How many people learn English globally? Retrieved November, 2011, from: http://esl.about.com/od/englishlearningresources/f/f_eslmarket.htm McNamee, G. (2010). “Tweet,” “Teachable Moment,” “Too Big to Fail”: Latest Words and Phrases to […]
Continue reading Porto v1.1 (Assignment #3) Posted in: Week 13: Venture Forum
Hello,
This looks like an interesting little product. I appreciated in your pitch that you noted the potential market and the niche that you are approaching (e.g., novelty learning devices). Perhaps to enhance this elevator pitch, I might diversify the media (sound, video clips) to compliment the pitch.
Cheers,
Kristopher
Thank you for the advice. I was a little hesitant in using sounds and video for the elevator pitch because of the timing and the 1 minute constraint.
schiong,
I like porto. You have also touched an important concept as vocabulary and English Language learning is currently very popular as persons seek to learn new languages. I would like to know if it will work with all kinds of vocabularies an if the gifted will benefit from such a venture. I like the text to speech feature and this venture would do well where English is being studied as a second language. I am also you mentioned studying the market and using Amazon to sell products. Had a little problem with the audio but your venture was well thought out and executed.
Everton
Yes, I believe even the gifted would benefit. 🙂
Porto would have an internal storage using the same technology as flash drives.
The current capacity would go as high as 64GB … capacity is big enough store several vocabularies. In the venture pitch, I mentioned about a site where they could update their OS and download new vocabularies.
Sorry, I about the sound. I only use what was available (free microphone, earphone, open source software).
The sounds(narration from text to speech) came out of the earphone. I placed the earphone near the microphone so it would record it and then save it as a sound file.
I hope the sound of the airplanes was not evident.
For some reason, my area is sometimes use as a flight path.
cheers,
Stephen
Stephan,
You have a great idea! I am currently an ESL teacher and improving vocabulary is the number one thing my students ask for. It is an important part of their learning. You are filling a currently lacking market for sure. I like your porto guy, he’s cute and would be fun to carry around. I like how you used an electronic sounding voice for your pitch, I first figured it was for an example of what the porto might sound like.
I also like your elevator pitch – your use of the elevator is clever!
I have some questions though, I didn’t get exactly how the porto worked (maybe a combo of my head cold and my husband playing angry birds in the background) but how do you plan on distinguishing yourself from a speaking dictionary on a smart phone? It also sounds like you have already created some portos, is there a place I can send my students to check them out if that is the case?
Tamara
Hi
🙂
How does it work?
a) Load it with vocabulary. You can download from a web site
b) Press the play button.
What makes it different?
a) It is a novelty item. If I implemented it in Smartphones, then I will be one of the many apps.
b) Projector – this means 1 or more people can actually learn the word together. They do not need to “squeeze” themselves just to view a video or image from the Smartphone.
If a movie can be played in the Smartphone, why do some people prefer to watch certain movies in the cinema?
c) The next step is to convert the projector to hologram.
d) If it was implemented in iOS, then I would only reach out to the learners with iPhones.
If it was implemented in all platforms, that would require different programming versions.
Take Angry Birds for example. It started with iPhone (if I am not mistaken). It took time before they had Android and PS3 version. To program in Android platform means another set of hardware or at least an Android device to test it on. It takes too much time, effort, and expense.
cheers,
Steve
Hi Stephen,
The product looks interesting and definitely viable. The pitch touches on the market and I get the feeling that this pitch is made for investors – which is a good thing. I think the pitch could use something to liven it up though, I like the idea that a pitch should bring a smile to someone, either externally or internally (as a sort of a-ha moment).
cheers
Doug
Elevator pitch assessment
S.Chiong – Porto
First Impression: no face or voice or audio, only slides,
CEO Credibility: The CEO does not appear at all – no voice, no image or appearance. I have nothing to judge CEO credibility on. I might take a negative inference based on the fact the CEO is unwilling to appear and be heard.
Management Team: No team is mentioned, so I have no way to judge. I might take a negative inference based on the fact the CEO is unwilling to talk about the team.
Venture Concept: Apparently a handheld gadget that teaches English vocab by speaking a word and projecting an image with the word used in a sentence. Apparently based on pedagogy but doesn’t explain what or how. Apparently a prototype exists for demos. Seems unlikely for individual use given requirement for projection. Perhaps for teacher use with students? Unclear who would use this or how.
Opportunity Space: Refers to 1 billion people learning English worldwide but doesn’t specify who this gadget would be targeted at or why they would purchase it or how they would use it during the learning to either replace or add to other forms of learning. No costs or projected revenues provided.
Market Readiness: Doesn’t specify the projected market segment or how to sell into that market segment.
Competitive Edge: Innovation appears to be the combination of portability, audio pronunciation and projection of an image with the word used in context. Not sure who this is aimed at or why someone would acquire a specialized gadget to do this vs. using other methods.
Exit Strategy: No indication of their target market, its size, or how they will capture it.
Overall Investment Status: I don’t see the CEO or the team, I don’t know who the targeted market is or how they are intended to use the product. I’m concerned about the use of a specialized gadget when there are more ubiquitous gadgets available (mobiles, PCs, teachers with magazine clippings). I don’t know the manufacturing or distribution costs or intended pricing. I don’t know how this will be marketed. I consider this high risk however I’ve worked with Stephen and my personal contact with him and my interest in playing with the gadget would lead me to seek more information.
Hi Stephan,
I wasn’t sure about the market but after reading Tamara’s post it sounds like it is there.
Your venture pitch starts with the management team on the first slide. Nice the combination of skills across the trio inspires confidence. The automated voice is an interesting approach and important because that is at the essence part of what you are selling.
I like the concept of just in time learning but I think I’m with Tamara on I need to understand more about the market differentiator over the technologies that are currently out there.
Hi Stephan,
Like others have pointed out this market (language learners) is vast and expanding. I think showing that you have moved from one a first proto type model to a second prototype is valuable in showing investors the progression of the product and increasing performance moving yet to another, third prototype.
One recommendation for future potential would be to consider expansion into other language learning martkets other than English. Since this is a hardware device would there be possibilities in installing other software to support different languages? This would open the market to ALL language learners instead of limiting it to just English language learners but as a former EFL teacher I like the idea.
Hi
That’s the nice thing about software. It can be updated to include different languages.
cheers,
Steve
Schiong Porto
CEO Credibility: Founder describes self as 15-year educator and developer. Founder uses a text-to-speech narration instead of using his own voice. No one wants to talk about this in their own voice?
Management Team: Team includes ESL teacher and electronics engineer.
Venture Concept: Does not describe the product (relies on elevator pitch?). Although prototypes exist there is no data on pilot testing, attitudes or learning outcomes for students or teachers? Mentions downloading words daily from a website which would require planning and use of a computer. Starts talking about holograms and artificial intelligence and conversing with Porto as upgrades but does not describe costs or timelines.
Opportunity Space: Targeting ESL learners, business, professionals, tourists. Describes 1-billion person market but does not segment this according to who of that 1 billion would buy an “educational novelty item” for $75CAN. Does not project target market, growth, revenues or timelines beyond cash-flow positive.
Market Readiness: Prototype exists but no data on reactions of learners and teachers. Describes potential partners of schools, bookstores, tutorial centres and Amazon.com. (Bookstores appear to be going out of business). How do these partnerships work to create market share and increase sales? Describes SRP $75 with production cost $25.
Competitive Edge: Does not describe the competition or a competitive advantage.
Exit Strategy: Prototypes developed for $30,000. Requests “at least $1 million” which implies greater needs. Offers 40% share for $1 million, which values the company at $2.5 million. Projects positive cash flow Q3 2013. Does not project unit sales, recoupment of investment, or return on investment.
Overall Investment Status: The market, revenues, and return on investment are not projected. The novelty aspect raises concerns of short shelf life and not being taken seriously. Asking for a lot of money with no projected sales or returns. Very puzzled that no data given on pilot testing or reactions or learning outcomes. Consider this high risk and would not pursue.
PS: Very confusing for audio reading to be different from text on the screen. Video of the talking dog confusing and distracting. I don’t understand how the listed learning theories connect to the product. Long black screens disorienting.
hi
Thank you for your insights.
The $1M is for future innovations/enhancements.
Again, thank you for your insights.
cheers,
Steve
Hi David,
just a quick one …
a) In the presentation, I tried to point out that the $30,000 was the initial investment and
it was used to create the prototypes. I also showed the progress of the prototypes.
I was hoping this would show commitment from the group, passionate about the product, resourceful, and has the technical know how.
Personally, I would find it more risky if it was only the CEO and the ideas (because it is very theoretical and unsure if it is implementable/doable in a given time frame).
b) Sorry about the 1 billion. It was referring to the number of English language learners. It does not include businessmen, tourists, etc… I imagine that Facebook initially targeted students and young adults. Now, you have grandparents, schools, etc…
c) No CEO face?
I guess I was uncomfortable with presenting the prototype at this stage and I do not want to show that.
I always fund my small businesses (in real life). I believe that my product should be out in the market and earning before I invited investors.
I know investors take risks. But, I like to minimize it.
d) Yes, bookstore might be going down or out of business. But, the cost of partnering with them is really minimal. We just need another venue to introduce the product.
Thank you again for the insights.
Steve, I really enjoyed your elevator pitch. I liked the simplicity of just text on a black screen, it made it easy to read as there was no distractions from anything else, also what I think really made it acceptable to just use text was the use of the elevator image and sound at the very beginning and end of the EP. For some reason that simple intro kept me captivated throughout the whole pitch. 🙂
Hi Steve,
I though that your pitches were well done. I would be interested in looking at the product before making an investment though. I find it tough to sell tangiable items without being given the oppurtunity to, well, play with them first. Interesting concept though, and I think that you did a great job with the type of media you used to convey the idea. It seemed well researched and though it.
David.
Before you publish your posting, please make sure that you select a category (eg. Introductions) as well as assign some meaningful tags (keywords).
kstooshnov 1:48 pm on November 28, 2011 Permalink | Log in to Reply
Hi David,
Wonderful to see your elevator pitch – finally it’s great to start putting faces (and voices) to names on this blog. You are very calm, cool and effective in highlighting what your project will mean for investors, and your slide deck backs up everything the elevator pitch mentions. Good job there, but one suggestion is doing something about the endnotes scattered throughout the venture pitch. They were a bit distracting, as I often found myself wondering about the information that is missing, rather than focusing on the content of the slide. The stickman figures are a great touch, and it would make for a cleaner pitch. If it were not possible to make them hyperlinks, as any EVA who sees this will be on one’s own computer before showing it to others, having the small print appear on the bottom of the page may help others to retain their focus. It may just be me, but any extra bits that take away from your presentation should be eliminated, like wearing an offensive tie to an investors’ meeting – not to worry, the one you’ve got on suits you perfectly!
Kyle
David William Price 9:53 am on November 29, 2011 Permalink | Log in to Reply
Interesting that you saw endnotes as an indication of something missing, rather than the presence of authority for facts and figures given. Entrepreneurs often make unfounded claims or claims based on flimsy evidence.
kstooshnov 2:08 pm on November 29, 2011 Permalink | Log in to Reply
Yes, curious indeed. And that’s the great thing about technology, isn’t it? The way it lets us do “today’s job with yesterday’s tools–with yesterday’s concepts” (p. 9) like endnotes in a PowerPoint presentation. I’ll leave it to you to find out what source the quote comes from…
jenaca 1:42 am on November 29, 2011 Permalink | Log in to Reply
Hi David,
I really enjoyed watching your pitch and I found that you talked calm and slow giving me an opportunity to understand the product you are pitching! I think it is a great idea, however, I am not convinced that students will purchase or use this app on their phones. College students may have other concerns and would most likely turn to friends or family for support!
Jenaca
David William Price 9:51 am on November 29, 2011 Permalink | Log in to Reply
That’s why it’s sold in bulk to universities, not students individually (noted briefly in the pitch at the start and at the end but more comprehensively in the venture doc) As noted in the venture pitch, students do not disclose their anxiety to each other, to friends, family or faculty. That’s part of the problem and that’s why their learning performance suffers. This is not about reassurance, it’s about mentorship and performance support… solving the problem, not asking for reassurance.
jarvise 10:16 am on November 29, 2011 Permalink | Log in to Reply
You establish the pain and solution clearly. You give an indication of return and potential market. It was clear that your background makes you suited to leading this venture. It was also clear that you were looking for funding. Great idea and presentation. Your venture pitch is very clear as well. You have successfully laid out the market and differentiation. You could consider marketing this to corporations – how many people do each of us know right now who are on stress leave? You could lay out how much is spent on stress leave per year for a company, and then point out the savings that could be afforded through adoption of your app. I found it a little weird that you want to avoid the app market – would the licensing fees be offset by the additional exposure? Also, my only other concern would be: do universities regularly invest in strategies such as this one for their students? If it is something completely novel, it may be hard to break into the market and may make more sense to market to individual students. Great idea, and a definite market here. Matching behaviorist principles with mobile tech is a great fit. I’m not ready to invest yet since I’m not convinced of your marketing strategy, but may become convinced with more information.
Emily
David William Price 8:05 pm on November 30, 2011 Permalink | Log in to Reply
Thanks for the comments.
I avoid the app market because they take 30% from every sale, and this app is unlikely to sell well to individuals. There just would not be enough up-take to repay investors and provide a return.
I chose universities rather than corporations as a starting point. I do see growth potential, but I figured universities are more learning focused and more concerned about dealing with people whose learning is impaired and causing them to drop out of courses and programs. The bulk licensing cost would mean a very small per-student investment, much tinier than many other investments made to support student performance in IT, health, etc. on campus.
Interesting point about stress leave costs in corporations. I think people already in their careers may be a bit harder to get into performance supports like this.
Deb Giesbrecht 3:14 pm on November 29, 2011 Permalink | Log in to Reply
Pain Point: anxious students
• Solution: mobile mentor
• Differentiation: puts mentors in the pocket of every student/identifies differentiation
• Marketing; clear marketing strategy
• Championship; identifies founder as champion
• Competition: identifies competitors
• The Ask: 100,00 – knew what you were asking for
• The Return: 5 years ROI
The Message
• CEO Credibility: Really liked your elevator pitch. You were very credible, calm, cool and collected – made me want to go out and buy one – or at least learn more! Made me want to see your venture pitch
• Management Team: spoke about founder – ?other team members
• Venture Concept: Very feasible and doable.
• Market Readiness: developed pain points with well researched solution. Identified statistics of cell phone owners
• Competitive Edge: identified the strengths – no weakness identified
Overall Investment Status: You provided a thorough and well researched background for an up and coming app. Identified real pain point in education. I would invest in this endeavor – great job!
David William Price 8:06 pm on November 30, 2011 Permalink | Log in to Reply
Thanks. I’d actually like one of these for myself. I spent a day coaching a highly anxious person through a lot of these issues in real time and the difference between the beginning of the day and the end was spectacular.
Keisha Edwards-Hamilton 7:50 pm on November 29, 2011 Permalink | Log in to Reply
David,
Your elevator pitch is very intriguing and engaging, and I am keen to learn more about this venture. From the onset you identified your target market, the pain point and the solution which is very good. I can see how this proposal will help “anxious learners”. I have to deal with many of them on a daily basis. This is worth pursuing.
Keisha
David William Price 8:08 pm on November 30, 2011 Permalink | Log in to Reply
Thanks. What saddens me is the effect anxiety has on learning… proved by science. That anxiety causes all kinds of performance degradation and associated psychological self-flagellation that could be avoided. My thesis will be examining this subject in more depth.
hall 2:43 am on November 30, 2011 Permalink | Log in to Reply
David,
Your elevator pitch is very interesting and informative. It was very innovative. Your voice was very clear and you appeared very calm which showed that you were confident. ‘Mind traction’ is a brilliant idea; I would definitely invest in your venture. The statistics given on the use of cell phones in America is a good idea. It gives investors a framework to work with in terms of the returns they would get on their investments. Although, America has such a large target market group but it could more profitable if you incorporate the rest of the world. Is Mind traction app written language only English? If not it could be used other non English speaking societies. It is a very good venture.
David William Price 8:09 pm on November 30, 2011 Permalink | Log in to Reply
Thanks. Great suggestions about worldwide coverage. Ideally, the app would be mostly visual, using icons with minimal text and that text could be translatable into the most common world languages. America seems a good proof of concept, and the venture pitch indicates expansion to Canada, UK, Australia.
carmen 10:23 am on November 30, 2011 Permalink | Log in to Reply
Love the idea of this app!
The pitches are very engaging and make me want to keep reading (and listening). 🙂 The venture pitch is well researched to prove the need in the market. I’m very convinced. If it’s developed successfully, this app would be the leader in the market!
As for the marketing strategy, I like how you focus on university students first. I think if people like the idea, it will spread to other markets, and by that time the app would be even better developed.
I wonder why you would like to focus on selling to the university rather than the students, because the students are motivated to do well and need this tool to help. Though I truly believe students can benefit from this app, I wonder what is the budget of universities and how much they would invest to lower students’ stress levels. Big universities will go on with their business without the app… maybe private colleges might worry more about retention rate? But private colleges will have less budget…
I wonder if it’s possible to be developed by the “university”, similar to how WebCT was developed by UBC.
David William Price 8:11 pm on November 30, 2011 Permalink | Log in to Reply
Thanks. Great questions.
Individual spending on apps for smartphones is way heavily weighted to games. This kind of app is unlikely to sell enough to individuals to recoup the investment and pay decent returns. Getting bulk license sales in the multi-thousands and ongoing commitments provides a more predictable revenue stream.
Would universities pay for it? Consider the tuition fees charged by American universities (10x those here). Some of them issue laptops and iPhones or iPod touches to their students. A dollar per student for this kind of performance support would not be a big deal.
bcourey 2:56 pm on November 30, 2011 Permalink | Log in to Reply
Hi David,
I may be repeating some of the comments mentioned before, but overall I was very impressed with your presentation – and as you said in today’s post, you feel strongly about have a personal Elevator pitch and your conviction on that front shows – you do have a more professional presence in your pitch than others I have viewed on YouTube when I was searching for examples.
I am very intrigued by your idea of Mind Traction – your pain point of anxiety for post secondary students is very real – which would also make your product useful for many secondary students as well – we see anxiety disorders more and more each year because of the perceived pressures the students feel even in that younger environment. So since these students are all carrying some kind of portable device – it makes perfect sense to have an application right there in their pocket for quick access – better than some of the other products they may be turning to instead!
I also see the advantages of adding other components to the product – such as the calendar and GPS – all pieces that help ease anxiety as well. Your use of language such as cheerleader, and collaborator would appeal to your consumer as well. I didn’t find the end notes distracting at all – in fact, I agree with you that they give credence to your claims.
Your request for funding seems very reasonable and you provide great details about the return on their investment – the question is: will students pay for this? Maybe the parents will, knowing the stress their child may be feeling as they leave home. I also agree that your competition is either low-tech or require prescriptions.
I believe your venture is a worthwhile investment!
Brenda
David William Price 8:13 pm on November 30, 2011 Permalink | Log in to Reply
Thanks.
Your question about students paying for this is an excellent one. I don’t think they would. THat’s why I’m going after universities to buy it in bulk with the argument it will improve performance of their students, reduce dropouts from courses and programs, and increase retention in maths and sciences.
These are real issues for universities. Concordia even offers a BONUS for grad students who graduate on time!!!
schiong 6:33 pm on November 30, 2011 Permalink | Log in to Reply
Hi David,
Fascinating product.
It gave me an impression that I have my own electronic psychiatrist.
Just curious …
How do you go about implementing :
a) Calms panic, grief, anger
b) Helps identify and challenge negative thoughts & mistaken beliefs about self, others, life
cheers,
Steve
David William Price 8:18 pm on November 30, 2011 Permalink | Log in to Reply
Thanks for your questions.
a) cognitive behavioural therapy (CBT) deals with panic, grief and anger primarily through deepened and lengthened breathing and focusing thoughts on accepting and surfing emotions rather than fighting or repressing them or blaming the self or others for them
b) the set of negative thoughts and mistaken beliefs are very common. THe plan is to produce the most typical versions and when people pick them, they are guided through an understanding of where those thoughts and beliefs come from, how they affect their thinking and emotions, and how to change them.
Actual implementation is intended to present the symptoms, allow people to choose the symptoms, then run them through an insight-reinforcing diagnostic with tips to use immediately to address the problem. THis would be a combination of text, images, and audio.
schiong 9:05 pm on November 30, 2011 Permalink | Log in to Reply
Hi David,
Very clear explanation.
Definitely worth investing.
cheers,
Steve
khenry 4:41 am on December 3, 2011 Permalink | Log in to Reply
Hello David,
Forgive me. It’s over 300 words but you gave me a lot to say.
I really enjoyed both your pitches.
Elevator Pitch
Your elevator pitch created a sense of confidence, trust and belief in your product and insight into your competence to lead your venture. You defined the essential elements within your venture and were very clear about what you were asking for. I also liked the fact that you did not have any distracting backgrounds and that it was neutral. I had this problem with many that I have seen and your pitch gave a professional feel that I missed from many video pitches I viewed (and did not like :-)). One thing that struck me though is that you were reading from a script and so at times I lost contact with you because of the shifting of your eyes. You seemed confident enough to go off script and it would sell you better and is a greater catch for investors. Reading your venture pitch I would definitely invest but if I am wading through many ideas/pitches I am not sure the elevator pitch would have hooked me enough to call. Perhaps more emphasis of your hook at the beginning or end? Something that stands out more? But overall it was a strong pitch.
Venture Pitch
One of the things I really liked about your venture pitch was the format you presented in and the clarity with which information was presented. It was very reader friendly. The bullet point format was effective and efficient and as a busy investor I would really appreciate this.
You presented all essential aspects well: Pain Points, Solution, Differentiation, Marketing, Leadership, Competition, Investment needs and Investment returns. You showed that you have a viable and well needed product and your target market is well placed to attract investment and realise your forecasted returns.
Your research in anxiety and learning is a big trump card. However, you did not discuss anyone else in your team except the CEO (you) and I would wonder at your experience and ability to deliver, navigate and provide innovations for mobile applications/ products (advising clients in a law capacity does not necessarily translate that you have the requisite experience and skills to develop and deliver the software yourself). I also did not get an idea of how you would deal with issues with mobile applications such as interoperability issues. Who, if any, will form the rest of your team?
Good breakdown on how your ask price will be spent and the return for investors.
I like the visuals presented as it gives the idea of a mobile app on a phone. However, I wondered at the titles in captions vs your titles in the documents e.g. mentor, collaborator, socialiser. Why is that?
(This is the Smile section of the Analysis)
The English language is such a beautiful thing. I smiled when you said ‘Competition is simplistic’. You are correct for what you are talking about but your point would be well made from your list and discussion without having the need to qualify them in your heading as simplistic. And for self-help books ‘cheap, aimed at middle age women’, that had me laughing out loud. You could delete cheap and go for ‘aimed at middle age women’ (if you have the statistics of course). BTW I agree with the use of endnotes.
Great job! Enjoyed it and would invest. It is a problem everywhere and would be a great global app. Hope you do go for it.
Kerry-Ann
David William Price 11:24 am on December 3, 2011 Permalink | Log in to Reply
Thanks.
Yes, my reading was a big problem! You’re absolutely right.
You’re also right about the team. I thought about this a bit but didn’t feel comfortable either making stuff up here or including names without permission… and I left this late enough that I didn’t think I could get that kind of sign-on. It’s definitely a weakness.
I’m not sure I follow about interoperability issues on mobile… my intention was to use one standalone app solely on android.
TItle in captions vs titles in documents… not sure I follow.
Interesting point about the headers on the slides. This follows from the “assertion evidence” model of slide design where you make an argument at the top and give evidence in the slide below. It’s supposed to help frame the point and reduce the amount of thinking required to figure out what the slide is about.
I actually had a reference for the middle-aged women part… I think it was a Forbes article analyzing the self-help industry.
Thanks for the detailed comments.
Allie 11:39 am on December 3, 2011 Permalink | Log in to Reply
i didn’t read your VP, but from the comments, I think it would be weird to have people signed on as team members. I think that for the purposes of this pitch-as-assignment, it’s perfectly appropriate to simply identify the roles that you would need to fill.
khenry 9:13 pm on December 4, 2011 Permalink | Log in to Reply
Hi David,
I think that is admirable that you did not want to make up anything and getting permission to sign off and I support that point. Your target of the android market focuses your approach and answers my question.
Re titles: I meant that the captions on your visuals say: Stress surfer, About me, About them, plans and progress etc. , whereas your titles in documents are: anxiety manager, mentor, socializer, collaborator. I just wondered what the app would look like on the screen (the possible selections). Would it show text as shown in your current visuals or would the text used be the titles: anxiety manager, mentor, socializer, collaborator etc?
I was sure you referenced the middle age women. I was just generalising for the sake of the point.
Kerry-Ann