Venture Concept No. 1

Venture capitalism, where opportunity meets innovation. In this piece I will be describing what we have done so far, what we are taking advantage of in the business world, and where we will be moving forward as we progress in the development of our application. Lets first talk about opportunity. Opportunity is defined as a group of customers with unmet or under-met needs. Well our customers had previously been living a life without the opportunity to receive what we are now trying to give them. There had been no application yet out on the market like bar cam. We are now finding opportunity where many people had yet to look and that’s what makes our venture so great. So who has the need? People in Gainesville, Florida are looking for an outlet to find out what is going on at the bar scene. The nature of the need is inspired by the fear of people wasting their time before going out on the town and discovering what is to come and how they are going to spend their nights. The forces in this environment that will be driving my success is the driving will of people in Gainesville to want to be out in the night scene in midtown and downtown areas of Gainesville. The market is defined and specifically different because of the age demographic of people who are going to want to use the app. Ages 18-22 is the average age of college students. This is the age of people who are going to be going out as well as the age of people are going to want to use our application. The thing that is so fantastic about bar cam is that the customers are not being able to fill their need currently. There is no application anywhere near the same as ours. We take cameras and put them outside of bars to see if there are crowds and people in the area can see if they want to go get food and or drinks at different bars of choice in the area. I think this application is going to bring s loyal following, because college students have a loyal following to bar scenes. When people using our application find out that they can help themselves, they will become and stay loyal to bar cam as we continue to grow and improve our app. Our opportunity is big, and has the potential to grow to major cities if we can get bars and restaurants on board with our application. The window of opportunity needs to be hit during the prime seasonal time and most impactful time for the bars at the beginning of the year right around new years. What better way to kick off the bar application than to have people using it to see if they are wasting their time waiting in line on a busy new years. It can be a great way to showcase the application.

Our innovation is great, we have combined social aspects of life with technology in a great venture of entrepreneurship. We will be asking bars for a fee to put a camera in their bar, in return we provide advertising to them allowing people to see what deal specials are for each bar. They are getting a return investment while advertising and bars are able to pay us for our services. Our venture concept is in tact because we do not have a real competitor. We are a one of a kind application who can continue to grow as long as we keep pushing, Our app will be successful because this is something that the people want from us.