24B - JSSF Venture Concept No.1

Business Name: JSSF - (Just Some Safety Feature)

Opportunity: The people who have the need are car companies who would use the product to make their cars safer on the road. The nature of the need is that they need more ideas or technology that would make their cars safer on the road. The forces in the environment are the constant need of car companies to improve the safety of their cars in order to be able to sell their cars more. The market isn’t defined geographically as car companies are situated all around the word and demographically is defined solely by the car companies. The customers are currently satisfying the need by creating multiple safety features in order to make them safer. They are loyal to what they use now because it adds to the safety of the car but they’re open to adding more features along with those. This is a big opportunity because they’re constantly looking for new features in order to increase the safety of the car. The “window of opportunity” will be open until cars become obsolete since they are constantly looking for new features to add to their car.

Innovation: The product that we are providing is a mixture of software and hardware. It would be sensors that we develop and transistors and receivers that work with software that we develop in order to make it our property. The hardware and software would be able to be integrated into any car with the sensors being able to sense the surroundings of the car. The transmitters and receivers would be able to send information to other cars so they all collectively know they’re surroundings. The software would allow the car to detect when a crash occurs or is about to and moves in order to avoid the accident instead of not reacting quick enough and crashing. As the one car moves to avoid it the car sends information to the other cars enabling the surroundings cars to move as a group to collectively avoid the collision without causing more accidents. We would be making money by licensing the technology and software for 20% of the profits made from the total cars sold with the technology implemented.

Venture Concept: Our innovation will address the opportunity that I identified as it would make cars much safer as that’s what car companies attempt to strive for. The car companies will buy our innovation since it would make cars safer and with the idea of Artificial Intelligence becoming a reality many car buyers would be intrigued by the technology and would want to buy it as they would be able to compete with Tesla. The customers won’t switch to this product but add it on to their car since it would increase safety and quality of the car which would result in a higher price being offered and more profits would be made. It wouldn’t be hard to get them to add them on since Tesla customers are in love with the technology that comes with the Tesla Car and they would want to replicate that with their brands in order to retain customers. There is no other competitor since Tesla sells the car with the technology as a product to the public while we would sell the technology straight to car companies. Neither packaging, distribution, customer support, customer experience, or business location play a role in defining my business concept. The only thing that defines the business concept is the price point or the royalty percent that we require from the profits from car companies as the percent may have to change depending on if the percent is accepted or rejected by the car companies. In order to organize my business would be to hire a small team of experts in A.I. and people who know how vehicle traffic works and getting engineers that would be able to develop the product for us. After that, there would be no need to support the ongoing production of our new product since we only must sell the license to car companies. We wouldn’t have to work on the product as in the license we could add a clause that allows them to edit to technology and software s that they can sustain it to keep its effectiveness and allow it to change the software to a certain extent. They could be able to change it, so it integrates with their car but still allows it to work with cars from other companies. The roles in the venture would be to build the product and to be of a salesman and try to get companies to buy the license.

The three minor elements: Our most important resource would be the lack of competition as this would allow us to capitalize on the market since if we get most car companies to buy the rest will attempt to buy the license just like they did with the electronically adjustable side mirrors on cars since that was designed by a man who licensed it to car companies. If competitors attempt to copy, they won’t be effective since our product would already have most of the market and a competitor would just lower the usefulness of the product so it wouldn’t be a worthy venture for them.

What’s next for the venture would be to develop systems that would allow cars to communicate with each other and be able to drive by themselves since Tesla attempts to do so only for their cars so other car companies would be vying for the same technology and as a result if we make it then we could license the new technology developed by us to the other car companies.

What’s next for me is that after we develop the self-driving car is to retire and live of the continuous stream of checks from the licensing deals since if cars become obsolete and if we have flying cars the tech developed by us to allow self-driving cars could be implemented into flying cars by the car companies and allow ourselves to either sell the technology to car companies who switch to that industry or to new companies in order to create controlled air traffic. As an entrepreneur in the next decade, I would want to be able to create whatever my mind thinks of and be able to make money off it. The first venture would help me achieve my vision since I would have a constant stream of money that I could use to finance the new ideas that I pursue.