New Technology-Based Business Concept: Creating Opportunities Based on Technology Disruptors

Business Summary

Task:

Prepare a new technology-based business concept in a two-pager format based on an opportunity related to technology disruptors. It may be related to an idea from the technology disruptor exercise from the September 30 class period, or another technology-based business idea you develop.  The business does not have to be agri-food technology related.  Use the MS Word template provided and submit in either MS Word or PDF format.

This should be a business concept that is new to you and new to the world.  (If you have a business or concept you bring to the class you will be able to use that for the Business Concept #2 assignment)

When preparing a two-pager describing your new business concept remember:

Envision the business as an entity.  What is the business name?  What does it do?

Examples, numbers, and statistics help bring your business concept to life for the reader as well as bring credibility to the concept. Provide some form of outside validation of the problem and the market opportunity.  Basic research (statistics, article citations, etc.) on the market for your product/service, competitors, etc. will strengthen your Powerpoint.

Prepare the new business concept two-pager that contains the following sections:

1.Business Summary – Describe the new business concept in a concise statement, with supporting bullet points. What does the business do? Describe the product and/or service.
2.Technology Opportunity - How does technology and technology change create an opportunity for this business? Provide any background that may help your reader.
3.Problem – Describe the problem solved by the business. Who does the problem affect? What is the impact of the problem? When does the problem occur? Where is the issue occurring? Why is it important that the problem be addressed? Why does the problem create the opportunity for your new business concept?
4.Features – What are the features of the business’ product and/or service? How does the customer see and experience interaction with the product and/or service? What are the key parts/components that comprise the solution?
5.Target Market – Who is the customer or market segment served by your business?
6.Value Proposition – How does the customer or consumer gain from your product or service? What is the value proposition for the consumer?
7.Competition – What products, services, and businesses exist in the market today that competes with your business? What are their strengths and weaknesses?
8.Differentiation – What makes this business’ product or service different from others in the market? How does the customer experience the product and/or service and interaction with the business?
9.Market Potential – What is the market niche? What is the market potential?
Business Model – What is the new business’ model? How does the business turn its inputs into outputs? How does the business connect to/reach customers?  How does the product or service get distributed?  How is the product and/or service priced?  How does the business make money?