Glen Rose Amolato

CPE3B

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Week 18: Final Pitching

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

We had our Pitching Day at our last meeting as our Technopreneurship course came to a conclusion. For Finals, the Team MARAWS presented their presentation deck. Sir Marberth Jael serves on the panel that grades and evaluates the pitch decks.

We present our idea “Expand your child's mind. Succeed through IRead”

As the reading ability of children 8-10 yrs old continues to decrease in the country. The homepage is where you can oversee the activities. This mobile app Uses an A.I it will be guaranteed that the speech or reading of the child within the context in the practice page just press the red button it will be recorded and then corrected. Ensuring an immediate evaluation of the child’s ability in the learning progress

Although it is in ZOOM breakout rooms it was nerve-wracking waiting for our turn. We were able to effectively deliver our value propositions and the entire pitch deck to the spectators during the presentation or pitching proper. Personally, I cannot say that we had a "perfect" presentation because there are still some minor details that need to be addressed, and we are all new to the field of Technopreneurship.

On a final note — or rather, a blog entry — I'd want to thank Ma'am Yam for all of her assistance and guidance over the semester. If I ever have the opportunity to work with the concepts again in the near future, I hope to be able to dive deeper and explore more in the branch of Technopreneurship.

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Week 16: Pitching

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

From what I learn from the lecture series a great pitch is nothing more than gaining access to assets or financing for business expansion or launch. When it comes to selling your brand, a pitch is essential. It essentially mimics your product's strategic plan. One should have extensive knowledge of the sector and the concept they are pitching to investors. This includes, among other things, understanding your target market, the particular problem that your invention solves, projected revenues, competition, competing products, and exclusivity of your idea.

The pitcher may show it by being predictable, standing a certain way during the windup, or enabling the other team to see his pitching hand in order to guess which pitch he will throw.

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Week 17: Consultation for Final Pitching and Customer Discovery

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

At week 15 we scheduled a consultation of our traction and MVP Wireframe. The target customer should put in consideration when making the wireframe. The type of colors that are suitable for learning and interaction with children 8-10 years old. The first choice of colors we consider are purple and red. 

Color can assist connect the brain's neuropathways. When the right hue is identified for a person's difficult subject, the subject becomes much easier for the child, and the student genuinely enjoys learning. When children were given colored goggles to wear while doing pegboard tests, it was discovered that they solved the tests faster (Olesen, 2013)

“Red is the color of passion and strong feelings of threat, love, or excess stimulus. In school rooms, it can be used in combination with other colors as it can help in detail-oriented or repetitive tasks.” by: Jacob Olesen

 Our team decides to revise our color choice, which can enhance learning and interaction at the same time.

“If you don't have direct access to your target users, the effort required to test your prototype is likely to be similar to the time required to produce a tested product.” By:Cliff G.,

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Week 15: Intellectual Property and Fundraising

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

The simplicity of starting a business with a niche idea attracts many entrepreneurs. While a few have gone on to become household names, many more have struggled to get their foot in the door. Nonetheless, startups are the 'in thing,' and they frequently bring about changes in business models and trends, necessitating quick legal compliance and proactive IP analysis.

“The Philippine Constitution promulgated in 1987 recognized the importance of intellectual property in Article XIV, Section 13: “The State shall protect and secure the exclusive rights of scientists, inventors, artists, and other gifted citizens to their intellectual property and creations, particularly when beneficial to the people, for such period as may be provided by law.”

To take advantage of the niche, the entrepreneur must protect the company plans from breach of confidentially and public exposure, especially if the startup is expected to encounter current competitors and has a high consumer appeal. These rights are valuable assets that can be licensed or allocated for a fee. In order to obtain and safeguard IP rights, entrepreneurs must keep records, ideally documentation, to show the date of creation of the expression. 

Start-ups may not want other firms to duplicate their ideas in any way, which would not only diminish the company's revenue but also harm its brand value due to the false products / processes. Furthermore, the protection not only prevents others from manufacturing, using, or selling the innovations, but it also helps to avoid infringements with previously created works, which could result in costly litigation.

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Week 14: Traction Metrics and MVP Validation Traction Metrics

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

Traction Metrics

I discovered that most startups fail due to a lack of traction rather than a problem with the product or outcome. Personally, I believe that owing to a lack of traction, the new business does not have enough customers who would be interested in the product. A startup that is excessively set in its ways about its idea or product may fail. Rather of trying to sell what you want, strive to sell what people desire. Never abandon a consumer; stay in touch with them and, if possible, include them in product development.

Profitability can only be reached once you have revenue- Revenue can only be obtained once you have paying clients (I don't consider investment capital to be revenue)- Clients are acquired as a direct result of engagement and traffic.- Client acquisition can be accelerated through partnerships. Participation is crucial. Many outstanding firms have failed because they do not or are unable to engage with their target market. You can't evaluate traction without engagement since you don't have any. 

MVP Validation

They can cram so many features into one app that the user becomes frustrated or confused. The builder may be a genius, but the people who will use it are ordinary people. They will continue with the product if they find one or two features nice and useful, but if they find five features useful and two aggravating, the product will disappear from their shelf.

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Week 13: Traction and MVP Launching

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

Traction

From the perspective of an investor startup, business traction is revenue and the fact that your company, business, or organization is making transactions. The opportunity to presale your products with simply an idea gives your business traction. Even better if they can compensate you financially. Profitability, in my opinion, is not an immediate and clear measure of traction in a startup. Sure, profitability is a solid indicator of a company's financial health, but it isn't a good indicator of market penetration or product/service adoption.

Traction is fundamentally comparable to advertising and marketing, as I understood after the lecture live on fb. It involves advertising your product or service to the general public so that they are aware of its existence, similar to how social media engagements and presence function. It is not, however, restricted to advertising; there are several outlets outside of advertising that can help with attractiveness and marketing.

Traction indicates that you are gaining traction. You truly want to expand your user base of loyal customers. You'll be able to build your paying clients from these loyal consumers. 

MVP Launching

https://www.facebook.com/IReadOfficial/

We launch our MVP on Facebook, upon getting into the customers feed. It is quite challenging to let them click and answer the form we put on every post. We are still in progress to getting into the public’s view. When preparing a product or service for public release, it usually necessitates long periods of development and procedure as the team works to refine it into a usable and ideal form. Even if it is highly scalable, we cannot tell whether it will be a "make or break" event. This is where the majority of new enterprises fail.

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Week 11 & 12: Business Model Canvas and Revenue Model

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

One of the most important planning tasks in your overall business strategy is to create your own Business Model Canvas. Going through the Business Model Canvas exercise with a SCORE mentor by your side is even more helpful whether you're a new business owner drafting your first business plan or an owner wanting to fix planning holes in an existing business.

This the BMC that we formulated with the group. 

A revenue model provides a framework for producing revenue and a metric by which a company may assess its long-term profitability. Understanding how a revenue model works can aid in determining a company's performance. A revenue model is a diagram that depicts how a new company will generate revenue or gross money from its regular operations, as well as how it will cover operational costs and liabilities. This model is one of a company's key performance indicators (KPIs) for determining how profitable its pricing strategy and product sales are.

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WEEK 10: Creating Competitive Advantage

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

“An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” by Jack Welch

While working in a competitive industry, one must consider numerous techniques, approaches, and hazards. One of the objectives of most entrepreneurs is to position their firm as a win-win brand for customers. Developing a competitive strategy is essential for business growth. It's difficult to communicate a competitive edge to potential investors. Whatever type of business you are in, the market is completely saturated with competition.

The insights I get from the lecture of Mr. Franch Maverick Lorilla is that competitive strategy is all about figuring out what products and services they mostly deal with, how they treat their customers, and, most crucially, locating a gap where you can fit in. Knowing everything there is to know about your competition might help you position yourself in the market.

reference:https://knowledge.insead.edu/strategy/how-to-prolong-competitive-advantage-10566.

In making a competitive advantage analysis for our group, we search for two specific mobile applications that best correlate to our platform. We search for the features that they offer, also the environment of their application. How they cater to their customer's needs, and how they assist in making their customer satisfied with their products. We also consider looking into their customer ratings and reviews. We evaluate how they formulate a cost for the subscription of their product. 

For our platform, we first examine SWOT analysis and then assess a comparison of the two competitors we choose. We select a few features and emphasize the unique attributes our product offers. After that, we elaborate on the unique features that make us advance in contrast with those competitors. 

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Week 9: Market Identification and Sizing

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

“There is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market.”  by Philip Kotler

Market size is a measure of a company's, product's, or service's potential. It will be considerably easier to acquire investment if you can demonstrate that you have a strong probability of producing money — and how much (Kadence,2022). 

Knowing who your market is, how big it is, and how much money it represents offers you a solid platform on which to construct a plan and set clear future objectives. Knowing your prospective growth trajectory aids in more accurate budgeting and hiring the suitable staff for the job at hand.

Here’s our data from our research:

It's difficult to seize an opportunity, but it's even more difficult to miss one. Time, effort, team member disagreements, headaches, heartbreak, and so on and so forth are all required. However, effectively taking an opportunity can be such a rewarding experience that it makes all of the difficulties worthwhile in the end. When it comes to seizing an opportunity, two things are critical: first, properly finding an opportunity for you inside your market, and then, once recognized, being ready to act on that opportunity so you may seize it.

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Week 8: Midterm Pitching

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

This week we have our midterm pitching. For our group I was the hustler it is my job to do the pitching. It is nervous and scary at the same time. This would be my first time doing a pitch. As far as I know for example when we give a speech at our best friend's wedding, we employ pitching. Or show a possible client or business partner an idea, concept, or product. We are often unaware that we are pitching in these ordinary situations. Pitching is a technique for presenting your concept succinctly and persuasively so that your idea, message, or product - whatever it is – may reach the stars.

 The pitch that we presented was surely 4/10. The panel pointed out how much text there is in the PPT. It should be as few and specific as it should be. They didn’t get the solution that we are trying to implement. Although I prepared a script, most of the time I was reading. Next time I should probably prepare the right tone to speak of the ideas. Storytelling was not in my mind but actually, it should be like that. I should improve my skills in speaking to people. Honestly, it is always a challenge to talk to people specifically when presenting an idea. Negative thoughts are flushing through your mind because of the thought of getting criticized. I should learn and take a step forward in improving this skill of communication. 

The majority of the individuals who have offered an idea have failed miserably. One of the most crucial talents a founder can learn is the ability to pitch effectively. It enables them to locate investors, attract outstanding co-founders, hire the greatest personnel, and, in the end, fine-tune their concept.

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Week 7: Effective Communication and Storytelling and Lesson Learned Pitching Template

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

Communication may help you create relationships with individuals whether you are studying or working. When you are studying, you communicate with your classmates and professors in order to form relationships with them. Similarly, in workplaces and companies, you form connections with your coworkers, your supervisor, and others. Effective communication, to me, is like a glue that helps you strengthen your relationship with others while also improving in many other areas. Knowing how to communicate allows a person to convey challenging messages without causing conflict. Effective communication may be learned, although it is stated that it is preferable when it is spontaneous.

"If there's one ability that's essential for success in this profession, it's communication," said William Schaffer, worldwide business development manager for computer giant Sun Microsystems.

photo from: https://insights.dice.com/2015/11/03/5-tips-for-pitching-a-groundbreaking-idea/

Personalize how you communicate your business in your business pitch. It is not necessary to perform as a comedian or an actor in a theatrical play to tell a story. By making relationships, you will instill enthusiasm and trust, which will lead to your own happy ending - the investment your business requires. What do you have to offer that will entice folks to invest in you? What qualities do you have that will ensure they profit financially from doing so? Why should they take a chance on you, in the end? All of those solutions frequently boil down to the connections you make (Barker, 2021) .

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WEEK 6: MVP and Wireframing

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

Every creative endeavour begins with an idea. It might be an outline for an essay or a drawing for a digital artwork, for example. The same is true for the usage of a wireframe in app design. Wireframes are the foundation of every website and app you use. Wireframes are used by user experience and user interface designers to sketch out a visual idea that can be quickly altered until it is ready to be created and developed.

Mr.  Ronald Rhey Miñoza, a CEO of the start-up StreetBy which was started in the year 2016. Sharing this start-up gave me an insight 

“Not all ventures have to continue, we have to learn how to adapt to the rapid changes”. 

The StreetBy app has to stop in the year 2021 because of the emerging number of competitors in the market. The market has a wide variety to offer with easy and fast transactions. Closing the StreetBy was a tough decision for Mr. Rhey but this doesn't stop him to explore new ways to start again. Mobilegas was implemented, a new type of market to venture for his start-up idea.

Closing doesn’t necessarily mean you have to give up and stop. Even if a goal was previously a good fit, it may no longer be so a few years later. Our dread of the unknown exacerbates our predicament. We don't know what will happen if we leave to pursue another route. But we know what we'd lose if we left. What we forget is that just though we have more knowledge about our current position, it does not guarantee that those facts will remain constant in the future. Giving up one job or career path in favor of another may result in better rewards. Pivoting can lead to success rather than failure.

Success is determined by a variety of elements, including the number of users, the quality of the product, and the projected value. It's no surprise that many businesses fail since it's tough to do everything right. It is critical to undertake market research, examine competitors, and identify the target audience before developing an app or website. This will assist you in filling a niche and generating profit. Though it may appear difficult, MVP development is the most effective technique to create a solution that is suited to the needs of the user (ARATEG, 2020). 

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WEEK 5: Customer Segmentation

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

Customer segmentation is critical for optimizing marketing strategies, maximizing a customer's worth to your firm, and improving customer experience and happiness.

With such an inconceivable variety of persons and characteristics in the globe, a potential market is rarely and readily defined. Knowing your target client group is essential for ensuring that your messages are both successful (attractive, action-promoting) and acceptable (non-offensive, timely, and relevant). The segmentation process begins by grouping customers and potential customers into customer segments with similar characteristics, so that you can communicate to all of the individuals in that segment efficiently, effectively, and with a sense of personal attention, without contacting each individual individually.

 We interviewed a total of 6 individuals, 3 of them are parents, 1 professional teacher and 2 adults from our customer discoveries. We segment them according to their roles in everyday life. 

photo from: https://analyticsindiamag.com/customer-segmentation-whats-right/customer-segmentation-modeling-2/

So, what is the significance of client segmentation in business? To begin, it is critical to establish a solid relationship with clients. This strategy of grouping consumers together allows you to personalize the purchasing experience. Another reason client segmentation is significant is that it might help you discover fresh ideas based on what your consumers are saying. Another benefit is that it concentrates on your most profitable consumers. This is because you're aiming for potential consumers who are interested in your goods or customers who frequently repurchase it.

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WEEK 4: Customer Discovery

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

The speaker Ms. Diane for the zoom live was such a heartwarming person I enjoy listening to her. The first success story she introduces is about Eric Yuan the founder of ZOOM Video Communication Software Company. It is such an inspiring story, his journey in building the software. He knows that being an engineer inside Webex Cisco is not enough. He communicates to their customer and sees about the satisfaction and discontentment they experience. He addressed the problem to their head but he got rejected. Somewhere in your life you suddenly feel like you need to step-out and make it happen. Although those times would be the greatest risk you’ll take on. Nonetheless you see the problem, you know where and how it can be solved. Eric Yuan, take the step forward but this time he’s taking his own path. Into merging the insights he gets from communicating his customers and making a solution. 

“Customers don’t buy products. Customers buy solutions to problems”

“Get out from that building get some real work”

When interviewing different kinds of individuals, specifically parents, the realization of helping them to at least lessen their burden becomes a priority. Also observing the kids in your neighborhood you get to worry about their reading skills. In our neighborhood mostly 10 yrs old children don't have the capabilities to read. 4-6 yrs old is just a delicate age to make these children use a smartphone. Instead we adjust the age range for the platform and make an environment suitable for at least 8-10 yrs old children. This in hope to compensate for the reading enhancement of these individuals.

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WEEK 3: Value Proposition

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

“Consistent alignment of capabilities and internal processes with the customer value proposition is the core of any strategy execution" by Robert S. Kaplan

The Value Proposition lecture, points out the customer’s pain, gain and job in correlation in the value map of the proposed idea. Observing people around you and taking into what they are experiencing, and what seems to be trendy. Our team is looking into the outside world and observing these people. We notice some patterns in each of the people around the neighborhood. Children spend most of their time playing outside, and some of their parents are not home. If parents are home, they are doing their laundry and house chores. I asked one of the parents if the module(the new learning system for public schools) of their child is being taken care of. The answer I received was that their elder child or someone older, maybe their cousin already answered the module. This means that the children who own the module don't even answer their own homeworks. The problem here is that when I asked those children if they at least know how to read, they said no. This is alarming if this continues the learning rate of these children would fluctuate.

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WEEK 2: Team Formation

At the beginning of the video, I was hook-up when Ms. Rhea mentioned the K-drama Start-up. I didn’t watch the series but I heard a lot of good reviews about it from my friends and on social media. The lecture will center in this series portraying team formation in start-up businesses. Ms. Rhea did present a picture of the characters in the series, how they are behaving in hackathons. Somehow I did relate to what they are doing, the fact that they attended the hackathons or bootcamps for the free snacks. The good sides of attending bootcamps are the information and knowledge you can get from it. Whether you just joined because of the free snacks, you can’t oppose getting yourself curious of what are the people around you doing at that moment. Some people will grab you at their post and start introducing their product. Looking at the three people in the picture, I can sense that they form a good team.

Looking for the right person or individual for your team can be quite biased and challenging at the same. We tend to choose people close to us, the ones we’re comfortable with regardless of the skills. It is really hard to just open up with someone and right now you have limited knowledge of your classmates because of the online setting. I also experienced ending a friendship just to save the team rather. I portray myself as the Hustler of the team, the one that initializes and manages the task. When it comes to making decisions I take into account the position of the members of the team. The problem we have on our side is we lack tech people. Only two of us have that experience with coding and structuring platforms, and it’s on a 3/10 rate of skills. It’ll be a great challenge for us to get out, explore while learning and doing. When choosing the people I want to be in a group, I message a few people whom I know have that potential skills and characteristics. But I got rejected by two people and only one has accepted my offer. This person doesn’t have that coding skills but I know she is the right person for the Hipster role.

Forming the three ideas. Actually, I already have a list of ideas of projects I want to pursue since last year. Whenever I get the chance to think of something. Specifically, when you experience or observe the same problem every day, you’ll get the ideas of what if’s. One of the common problems in these online school settings I observe is that the learning rate of students is drastically getting low. With no proper advice and guidance from the teacher. For those students who are in modular mode. Particularly the elementary students, their parents also don't have the patience to teach. Somehow their situation forces them to stop education. Thinking up, what if there is an AI that could teach these children to read. Its primary purpose is to teach basic reading of alphabets and primary words. The next idea I come up with is LaagLokal, somewhat this idea is a bit biased to my side. As quite adventurous and spontaneous individuals, we want to accentuate every opportunity we have to explore new places. Making it happen seems too impossible, particularly for commuters or people who don't have their own transport. LaagLokal was formulated to connect these travelers and public transport, or transport businesses. Where they can negotiate, look for other people who have the same interest, and plan a trip. The next idea being coined, although it is common the main interest here is to serve the local business, this is LokalOS.

When interviewing people for the three ideas, they prefer the IRead overall. Well, this is quite biased, because the 5 people I interview are parents and adults. When talking to them I see the possibilities of IRead.

When we layout our top 5 ideas, there are common ones and challenging ones. If we choose IRead as our platform to pursue, honestly it will be hard for us. Making AI is new to our team and we don’t have that much knowledge about it. However, fear is like a stepping stone for us to great opportunities. This time will be used to optimize every learnings and skill we can build along the journey.

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WEEK 1: Tech101 Lecture

Submitted to: Mrs. Miriam Bergado | Technopreneurship | CPE3B

It is the first week of our Technopreneurship course, the scheduled live is every Monday morning. The introduction of the course was explained thoroughly and I felt overwhelmed and challenged at the same time. The different kinds of tasks designated in this subject are beyond my comfort zone. It tells me that it is time to get out of that zone and grow for real. It introduces also the advantages of START-UP businesses.

In the presentation, inductive learning and self-learning are the methods being exercised for every task a learner should have. Inductive learning is somewhat related to divide-and-conquer approach, which as a computer engineering student has practice in every related course in algorithms, computing and hardware structures. Self-learning on the other hand can relate to the online-class situation we are in at these pandemic times. However self-learning can be difficult, specifically due to environmental interference. 

At the end of the presentation we are tasked to take the Myers-Briggs Type Indicator (MBTI) and Berkeley Innovative Index (BII). Personality tests are taken to measure an individual’s ability psychologically. BII, tests relate to measurement in innovative skills of an individual. In the next section I will discuss the my personal results of taking the test together with an insights

MBTI test results show that I am an ENTJ-A person, an assertive commander type with a role as an analyst and a strategy of people mastery. In the MIND side which is 54% extraverted, when it comes to dealing with people I found myself being an observant. First observe their behavior or how they react to things before I decide to communicate or how I should act around them. Regardless of their attitudes I must display a disciplined trait to them. I am in the middle of being introvert as well as being extrovert, for me it really depends on the situation as I always observe first. In the ENERGY type I am 55% intuitive, when dealing with problems, I don’t tend to think more of it but instead I immediately look for possible solutions. In the NATURE type I am 58% thinking, it is always my characteristics that when dealing and making decisions I tend to rely more on the logic, facts and patterns of a certain information. Being objective and fair rather than to rely on what I feel, as they have said feelings can be deceiving too. In TACTICS type I am 72% judging, it makes me feel uneasy if I am not organized or somewhat planned the task I do everyday. I don’t like doing assignments and homework's the day before the deadline. I have a mindset that as long as I have the time I will immediately do the task prior to the deadline. “Don’t put off until tomorrow what you can do today” by Benjamin Franklin. I also fear that I will be bombarded with schoolwork's then it will affect my performance rate and will be the cause of anxiety. In IDENTITY, I am 65% Assertive when it comes to group activities I tend to make the first move. In assigning the task and monitoring every member. 

In taking Berkeley Innovation Index, the result shows a low score on the trust, diversity, collaboration and innovation zone. I need to focus on these four zones to improve these abilities. Specifically in the innovation zone where my creativity in making new solutions comes with greater challenges with myself. The trust zone which has the lowest score, I need to communicate myself more to the team for me to establish trust. I cannot trust someone I don't know. Trusting someone is a process.

 In the end of the live presentation it is explained the different types of people in forming a team. This will be elaborated on the Week 2 blog.