Energyaware is a perfect example of how technological creativity used in changing the world can be a feasible business opportunity.
Firstly, I believe Janice had great mentors and timing in the process of starting Energyaware. Her experience has led me want to take the UBC course on new ventures design. Secondly, money was also an important issue. I think the key to her success in entrepreneurship was innovation. Energyaware created a new product that tackles the common knowledge of environmental issues that the population already pay attention to. Furthermore, it’s point of difference (providing $/kWh) attract customers, allowing her to receive an adequate amount of sponsorship.
However, I believe it will become a challenge in the future when it enters the San Diego market and transform into a B to C business model. In order to be competitive, Energyaware should immediately develop the smart phone application that Janice mentioned. The application can be accessed on smart phones when customers are out of their homes and allow them to control the thermostat or check on any abnormal electricity usage. This further minimizes wastage as some people may forget to turn off the lights or heaters etc. when they head out in a rush. This increased convenience will persuade more customers to use the product.
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