19A- Idea Napkin No. 2

1. You :

·       
I'm a  freshman at UF as a mechanical engineering major. I'm skilled in talking to people and I can pick up new things pretty quickly when it comes to technical things. I have experience on my own just making whatever comes to mind and plenty of experience talking to people about anything. My aspirations are to just do whatever I want such as turning my ideas into reality. If I were to start my concept as a business,  it would take a lot of my time especially since I’ll be passionate about it and so invested that I'll make sure it gets to where it needs to be.

2. What are you offering to customers? :

·        I'm offering car companies a product that could be incorporated into their cars to help reduce the number of fatalities due to car crashes. The product would be sensors that would be able to integrate into the car and a centralized software and language that car companies would use to put in their cars as to raise the safety of the people while having a common language for the cars to communicate with so different brands can communicate with each other. The sensors would be able to recognize the other cars and with the software and a network to allow the car to respond to their surroundings while communicating with surrounding cars so the cars avoid it collectively and safely without causing more crashes.  I'm customers that buy cars to have the ability to have their chance of crashing lowered as the car would be able to react with other cars due to an accident of whatever cause. Using technology will make the car companies have a better reputation for having a safer car than people who won't use the technology. It'll be better than the individual sensors on a car that stops when they are about to crash as they can be faulty and stop in the middle of the traffic due to different factors affecting the sensor.

3.  Who are you offering it to? :

·        I'm offering it to car companies who want to make their cars to compete with Tesla and their autonomous driving features. Instead of the cars driving we still have people driving but the cars can react with other cars as a group instead of an individual car.

4. Why do they care? : 

·        Instead of having to figure out how to make the technology themselves they can buy it through licensing and implement it into their cars. As a result, the car companies that use it will be able to have their cars communicate with other companies car to make it much safer for people driving on the road. If they did it on their own then only the company's cars would be able to communicate with only that company and not another company's car. With marketing to other brands, as the first brands use it the rest might follow with a domino effect. As a way to prove it's usefulness might be able to put the product onto go-karts and see how the go-karts react in a normal race to prove it's effectiveness.

5. What are your core competencies? :

·        What sets me apart is that since I'll only be making the technology and not the cars I can have it implement in any brand of car that chooses to buy it and have the technology become more effective than only to have one brand utilize it and have it only work with that brand of cars.

I believe there are some aspects of my business concept that are weaker with the others. My business plan relies that on other companies buy the technology from me through licensing but if they decide not to license then my concept will not be profitable. I would also have to figure out how to make the technology safe so it won't cause accidents due to failures or other factors that can affect it and cause crashes.

Feedback: One of the main points I took away from the feedback was to put more detail into describing what my product is so I made sure to describe the product more in detail and describe how it would work. The second thing I took away is that networking and communication is an important aspect of creating a business so I made sure in the "Why do they care?" section to put how we would communicate how it works and it's effectiveness and how we would network it with car brands.