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Week 18 Final Pitch Deck Presentation

It is finally time to unveil the vision of our startup. On January 20, 2022, Sherilyn gracefully presented our pitch of the Vendo Tech.

In preparation for the momentous event, while Sherilyn dealt with the presentation, Denver and I discussed the problems and technicalities regarding the feasibility of our business model.

One of the important issues to tackle was whether the business model is profitable in the first place. Our costumers are not the vending machine users but the owners. Our product gives a normal vending machine the ability to receive digital currency such as GCash. We decided on a PHP 630 for installation but that would not enough to keep our company alive. For that, we've decided to ask for 10% commission for every digital transaction. This should be enough to give us a steady stream of revenue to finance our network

The other issue is about the internet connectivity and security. One of the comments suggest a VPN to secure our data. As for the connectivity, we decided to refund our costumers if a delay of transaction occurs. That should give them assurance that their money will not be stolen.

Overall, I've learned a lot in this subject, through experience and knowledge from the insightful instructors and lectures. Thank you all for this amazing semester.

Week 17 Programming the Prototype

This week I am tasked to program the Prototype. I used Arduino IDE instead of the Micropython as the former currently has better support to peripheral devices such as the OLED display as well as debounce button. The program proved harder than anticipated.

I finally figured out how to solve the issue using finite state machines. I should have thought about this since this is how vending machines were designed and taught. It was also an example in my other subject: Microelectronics.

Week 16

BMC AND TRACTION METRICS

This week we presented our Business Model Canvas or BMC. There were plenty of corrections from Sir Jael.

Here is the list of corrections that I noted:

Notes:

focus on the cashless system payments method

Customer Segment:

-remove cashless payment users

focus on form factor

Vending Machine -> customer segment

Key Partners

-pay app companies

-suppliers(microcontrollers etc)

Key Resources

- form factor na nadevelop

- remove "vending Machine"

Revenue Stream

- asset sale

- remove 'fee'

Cost Structure

-maintenance cost

-r & d cost

- marketing and sales

#BMC

Week 15

The Role of Government and Various Sectors as a Helping Hand to Startups

Hon. Ian Mark Nacaya - City Councilor

Local Government Units

Livelihood Assistance -

Technical and Vocational Institute - for technical skills

- kits - i.e. carpentry, etc

- training individuals to be entrepreneurs

- MSMLE - Micro Small Medium and Large Enterprise

Under the ordinance - Small and Medium Scale Enterprise = free from paying Baranggay Clearance and Fees.

An ordinance that created City Management Information System and Innovation Department - all interconnectivity and operations and ITs and Management Information been in one department to become the umbrella of all data gathering

City Startup Ecosystem startup enterprise can level the playing field with the bigger competitors

-cater to the needs and matching

-smaller business can market their products outside the city and even across the globe.

We can engage with city council members to ask for support. File for accreditation. The city council will approve your accreditation as an individual or corporate entity. The government can then release funds.

Roles of Baranggay

Funding and budgetary allocations for livelihood with the help of the punong barangay.

2nd Speaker: Atty Bro. John Castriciones

Former Sec. Dept. of Agrarian Reform

The plight of farmers 1:22:00

Agriculture - last frontier of survival

But as a sector, it is socially neglected.

Farmers are looked down on, should be poor.

But being a farmer is advantageous today

There are new technologies to gain better yield from farming

60-70% population, engaged in agriculture

Agriculture -New frontier when it comes to business as Filipinos underestimate its profiteering potential

Cooperatives

Enhanced Program against Hunger and Poverty

On the Youth:

Buhay sa Gulay

Week 14 Lecture Series - Corporate and Strategic Entrepreneurship and Green Entrepreneurship

First Speaker

Miss Luchi Flores talks about the common denominators of well-known companies that made them successful: Strategies and Innovation.

Strategies

- identifying opportunities

- managing resources

- come up with sustainable competitive advantages

Only a few corporations encourage innovation because it is difficult and risky. Some individuals may be used to the old but tested methods. The financial aspect must also be considered. The benefit must outweigh the cost. The human resource must be managed in order to apply the innovation. Lastly, it is important to remember the uncertainties that go with the risk.

Innovation vs Strategy

To what degree is the firm transforming itself relative to where it was in the past?

To what degree is the firm transforming itself relative to industry benchmarks and standards?

What makes strategic entrepreneurship work?

Allows employees to embark on innovative projects (e.g., Google);

Has the "slush funds" to start and implement the project;

Does balancing act (established vis new processes, short vis long-term thinking);

manages RISKS!

Green Economic Development

Ms Jesusa M. Abear

Chief Trade and Industry Development Specialist

Department of Trade and Industry

Misamis Oriental

Greening your Business

Sensitization

PROMOTION OF GREEN ECONOMIC DEVELOPMENT (PROGED)

Supported by GIZ, ProGED (2013-2016) is a PhP 225-million project that aims to propel MSMES and government institutions relevant to economic development to increasingly implement inclusive, environment-friendly, and climate-smart strategies and measures.

The project's lines of interventions are:

1) information and awareness,

2) green service facilitation, and

3) green framework conditions.

The interventions are geared towards encouraging MSMES to make their business more environment-friendly and climate-smart while increasing their competitiveness.

Objectives

To explain to the participants the importance of Green Enterprise Development

To identify Greening Areas in your Business

To prepare Greening Implementation Plan

Green Enterprise

• Sustainable business, or a green business, is an enterprise that has a minimal negative impact on the global or local environment, community, society, or economy.

• a business that strives to meet the triple bottom lines.

• Often, sustainable businesses have progressive environmental and human rights policies.

Why "Green"?

Adoption of green business strategies can address the negative impacts of climate change on the MSMES, enhance their competitiveness and ensure their sustainability and survival.

Savings from Going Green

• Going Green

• Makes a lot of business sense

• Contributes to economic growth

• Helps save our planet and where we live

• Feels good, really good

GO FOR IT!

#strategies #innovation #green

Week 13

The first speaker is Mr. Noel Macaya of Country Roasts

He talks about his experience as an entrepreneur. There were technical difficulties on his part, making it harder to comprehend his messages. Turning off his camera finally fixed the problem.

Basically, he shares why his business is successful.

Unique Selling Proposition or USP - dry rub, process.

Being an entrepreneur is not for everybody. You have to be hard on yourself. You had to have sleepless nights

People only see your successes. They tend to ignore your many hardships and failures.

"It's not how you fall; it's how you get up"

Do not look from the point of view of a creator, but from the consumer.

The second speaker is Mr. Virgilio Fuertes, a research specialist of

He talks about the startup grant fund program.

#USP

Vendo Tech

Cashless Vending Machine!

Quick and Easy

Digital Payment

No coins? No Problem

Did you know that by 2025, $ 9.4 million worth of transactions will be done via digital currency

Source: statista.com

UPGRADE YOUR VENDING MACHINE TODAY!

#cashless #digital payment

Week 11 - Minimum Viable Product and Traction

For week 11, Engr. Miriam Bergado talks about the Minimum Viable Product or MVP and Traction

What is an MVP?

To call it a prototype or beta version would be misleading.

Prototypes are for demonstration and proof of concept.

Beta versions are for testing and finding bugs.

Both cannot be marketed as they are still considered unfinished.

MVPs on the other hand, are made to be sold or in service.

Why should we start with MVPs?

First of all, because knowing that startups tend to fail, it is better to lose as little money as possible.

Secondly, it is better to begin small, as it is manageable until you are ready to go big. Even without earning money

Traction

Traction was already discussed but there are still pointers to be noted.

Products with no traction will ultimately fail; hence you should observe if your traction isn't growing. Choosing the right channels is crucial for growth. There are 19 channels listed but they can be categorized into two: online and offline.

The Bull's Eye framework will help guide which channels you should choose.

#minimum viable product #traction

Week 10: Business Model Canvas

For week 10, Engr. Marberth Jael talks about the Business Model Canvas.

In particular, he focused on the question "how will our products be sold" or "how to make money".

Now that the plausibility of our product has been studied and partially approved, the next step is to plan the marketing schemes.

The business model canvas illustrates the overall concept of the business model.

There are ten components of the canvas but what stood out to me the most are the third, fourth, and fifth.

The third component is for the Channels. This is basically what stands before you and your customer. For example, you want to buy a video game or software online, but you can only do so via PayPal. But not everyone has a PayPal account. So, you went elsewhere or bought another product. They have lost a customer because there is no channel between you and the product. It is important to create as many channels as possible between your product and your customers.

The fourth component is about Customer Relationships. As psychological beings, people make interpretations of products on a personal level. Apple is expensive but is known for its good customer support and premium quality products, that is why people still buy them when they can get another smartphone for a cheaper price.

The fifth component is about the Revenue streams. This component basically answers the question “how do customers pay”. It can mean you are paying for the product like the food you order in Food Panda or you are just renting it like the software products of Adobe.

#business model canvas

Circular Campus Programme Innovation Competition Finals 2021

We watched and observed other students professionally presenting their pitches

Week 7 Pitching and Fundraising

Engr. Bronson Mabulay discussed how to pitch your ideas to convince people to invest in your product.

Why raise money?

To purchase equipment, rent offices, hire more staff.

To grow faster.

Your first source of income may be your family or friends. When your product gains traction, the investors can now be convinced of the product's potential. Investors know based on their experience when your product is investment-worthy. Along with traction, investors also look for the market size of the product (bigger size means more potential customers) and the team (reputation shows capability).

When it is time to pitch your product, one strategy is to tell a story as it is relatable and easier to follow. Stories have different narrative arcs: Problem, Market shift, Team. You may employ different opening strategies: start with your strengths, your weakness, or what your audience cares about (money).

Pitch Deck

10/20/30 Rule

10 slides

20 words/slide

30 font size

Components

Problem - what your product is trying to solve

Solution - how your product solves the problem

Product - the money-maker

Target Market - TAM SAM SOM

Traction - your current market

Revenue Model - how your product makes money

Competition - other products competing with yours

Team - members and their skillset

Ask - the amount of money

Summary

#pitching #fundraising #pitch deck

Week 7

Week 6

For whom do we create our value?

Types of Customer Segment

1. Mass Market - a large group of customers with similar needs

2. Niche Market - specific customers

3. Segmented Market - divide customers according to their needs

4. Diversified Market - two or more unrelated customers

5. Multi-sided Market -

When to do customer validation?

as soon as you have the idea

before developing the product

if the product already exists, before re-developing the product

Customer Validation

validate assumptions before executing development

How do I validate?

identify early adoptors(desperate people)

one who love your product before it exists

talk to them

Ultra-niche segment

segment aggressively

What is really valuable to your costumers?

What is your final idea?

Geoff Moore's Value Proposition

#customer #market #validation

Week 5

Engr. Marberth Custer Jael discussed about how to discover your customers. To start, 72% of new products fail. It is because customers don't actually care about these products. Value Proposition addresses needs and pains by solving the problem. Pain refers to what annoys the customer. For example - TRAFFIC, the need of the customer is to go quickly as fast as possible and traffic stalls them. Traffic causes pain. For that, an app called Waze remedies the situation by giving the users alternative routes. An example of not a value proposition is the system specification of the smartphones. All other competitors have them too, so the smartphone companies must advertise for other broad value categories such as: Design, Social Status, Performance, Save Money, etc. To know the value of your product, you can use the VALUE PROPOSITION CANVAS

The value proposition canvas uses two diagrams: the Customer Profile and the Value Map.

Customer Profile - shows the type of customer for your product. it has three parts.

Jobs - what the customer is trying to accomplish

Gains - measures the success of the jobs

Pains - what annoys the customer while getting the job done

Value Map - shows the potentials of your product/service. It has three parts:

Products and Services - what your product offers

Gain Creators - benefits of the product

Pain Relievers - problems the product solves

The more of the parts on the right(customer profile) side fits with the parts on the left(value map), the more likely your product will succeed.

Design, Test, Iterate - until you figure out what resonates with the customer. Based on their feedback, you built on your V.P.

#value #proposition

Week 4

Ms. Mahinay talks about communicating with your users Good Founders talk directly to their users - no middleman!

Users tend to lie to be respectful

The Mom Test - talk about their life, specifics of the past, talking less, listening more.

If you can get useful ideas from your mom, you can get it from everyone else.

#users #validate ideas

Week 3

Ready, Spark, Charge 2020 - Annual Clean Energy Hackathon

Miss Hilda Carreon invited us to join the hackathon and promote clean energy solutions. I hope to be able to help contribute a

Ms. Rhea talked about the importance of team formation.

Hacker - focuses on the technical aspects of the product

Hustler - focuses on finding the right buyers

Hipster - focuses on making the product appealing

Brainstorming

https://fluvid.com/videos/detail/PgEneTagpLugZ-XoD

Our first brainstorming session! My teammates shared their brilliant ideas.

#team #formation #ready spark charge #brainstorm

Week 3

Ms. Haguisan talks about choosing the right people for your team

#hacker #hustler #hipster

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