Question

IENG377 Engineering Economy Venture Capital Product Claim Turn-in Homework 1) Product claim used to get venture capital Create a claim using the proven technique below to get venture capital money for a new product idea. Use your own new product idea or pick an innovative product that is already on the market and act like it's a new idea for which you are trying to get venture capital (e.g. IPHONE, new golf club, new app, etc.) From the book, Crossing the Chasm by Geoffrey A. Moore Use the following template to create a claim for a new product/service in two sentences-fill in the info within the parenthesis: For (target customers), who are dissatisfied with (the current market alternative), our Product is a (new product category), that provides (key problem-solving capability) Unlike (the product alternative) we have assembled the (key whole product features for your specific product application) Example Silicon Graphics in Hollywood: For post production film engineers, who are dissatisfied with the limitations of traditional film editors, our digital workstation is a digital film editor, that lets you modify your film images in any way you choose. Unlike workstations from Sun, HP or IBM, we have assembled all the interfaces needed for post production film editing.

Answer 1

Introduction:-

Venture Capital is one of the key reasons why small companies with no or little capital but with ideas that had the potential to change the world grew in size and developed policies to become the giants we know off today.

In general, Venture Capitalists are groups of those people who earn money by investing in ideas of people that are technologically capable of developing new things that change the industry.

An idea which is not backed by capital is as good as dust. Without capital production of these ideas is hardly possible. Venture capitalists with their financial backing and knowledge invest in these companies for a share in their profits and are considered pioneers in bringing technological innovation to most countries across the globe.

For this an idea must be presented in front of the board panel members which may agree then and choose to invest. For the purpose of this case study, we have picked up I phone as our product and will be explaining all contents of the claim statement thus accordingly.

Case Specifics:-

The claim statement is as follows:-

"For all mobile phone users, who are dissatisfied with their current laggy and bulky smartphones, with the limitation of speed and weight, our phone is a light weight touch screen enabled smartphone that allows one to work seamlessly and without worrying about speed as they like. Unlike phones from Nokia Samsung and Sony, the phones are less bulky. We have assembled features such as ITunes, Siri and Safari to allow for a superior overall experience"

Please feel free to ask your doubts in the comments section