Below you’ll find an overview of your current value proposition, seen from the eyes of the customer. Also, you will find an Expert Review of your proposition based on 6 different specifications. These product specifications are a direct results of your VP-decisions. Also, you’ll find your current product-market fit.
Below you’ll find information about your customer segment. The higher your research score, the more you’ll uncover about the customer segment.
Response to 1st question: We are using the same strategy because we have reached 100% PMF. Response to second question: Here we are trying to seek the attention of Angel Investors, Capital ventures along to Bank Loans and Investments. Response to the last question: We increased knowledge in team leadership, structural organisation and vision planning. How a BM works. We are happy to share goals and open innovation in the context uncertain unpredictable environments. The team members learned the value of reflecting whilst doing.
1. Within the runup to the final round, it appears that there was a lapse in our understanding of our target audience, which caused us to implement some features that were not popular without our customer. We have adjusted our approach in order to deliver the usual quality expected from our company. (We also had a misunderstanding of what we were being instructed to do for the value proposition) 2. We are striving to attract an angel investor, venture capital, FFF funds, and personal funds. 3. The game was an interesting experiment, and fun to try and figure out.
1. No, we seem to have gotten many parts right in round 4 so we just improved on that. 2. Yes, we are looking for funding from Angel Investment. This is first because we fulfill the requirements, and second because angel investments offer the highest funding that we qualify for and they can also offer us knowledge that we are lagging behind at the moment. 3. The game helped us to prepare how to use funds to make a startup profitable and how a mutually supportive group with diverse backgrounds and perspectives can help to develop innovative solutions. but the most important thing is that it allowed us to overstretch our abilities
In this last round we wrapped up our strategy and corrected some mistakes. We invested again in R&D, which we previously stopped because of a misunderstanding of the functioning of the game. At the same time, we stopped investing in the left part of the business model canvas, thanks to our 100% scores in Key Resources, Activities and Partners. The sources of finances we decided to seek for our company are an angel investor and venture capital funds, because of our needs for serious amounts of capital and expertise, also discussed in our pitch. Finally, we found this game to be useful for delving into the dynamics of a product development process. We expected it to be more theoretical, so we were positively surprised by its practical and realistic approach.
Did you make any changes to your strategy in this round? If yes, why? In this round, we implemented several strategic adjustments in response to feedback and insights gained from previous rounds and presentations. It became evident that our initial strategy had certain shortcomings, prompting us to pivot. The primary drivers behind this change were our need to adapt to evolving market conditions and enhance our likelihood of success. By refining our strategy, our objective was to address weaknesses, seize opportunities, and better position our business for growth. Specifically, with the assistance of Gentech, we transitioned to the next stage and concentrated on improving the speed and functionality of our device, all while not relying on Gentech. This shift was informed by survey data suggesting that Gentech might pose challenges for some individuals. In our efforts to expand our market, we expanded our product line to include items such as rings, bracelets, and earrings. We now offer a wider range of choices to our customers in terms of materials, including both traditional and eco-friendly options, as well as diverse design styles, from minimalistic to luxurious. Another critical aspect of our strategic plan relates to our target audience. We’ve introduced customized preferences, allowing customers to use our products for various occasions, such as ceremonies. We also facilitate community engagement by providing a personalized network linked to their devices, which is especially relevant for events where participants can use our products. For example, during such gatherings, participants can form personalized social networks connected through their devices. As an example, consider “Wearable Tech for Kids’ Well-Being.” Our product offers features such as activity tracking for physical fitness, GPS location monitoring for safety, educational and interactive components, and health and sleep tracking. Communities play a role in sharing parenting experiences and advice, organizing educational and enjoyable activities, ensuring safe tech usage for children, and promoting digital literacy and privacy awareness. Alternatively, “Wearable Tech for Festival-Goers” provides festival-goers with an enhanced event experience through real-time information, geolocation and map features for easy navigation, and interactive content sharing. Communities facilitate user-generated content sharing and recommendations, the creation of meet-up points for festival-goers, enhancing safety through crowd-sourced alerts, and fostering a sense of belonging and shared experiences.
Throughout the game, you’ll have the chance to increase your expertise on your key resources, activities and partners. The better your performance, the more likely you’ll be to achieve finance in the last round.
Below you’ll find an overview of your sales funnel and capital injections – a direct results of your investments in marketing & sales.
Below, you’ll find some extra awards that are handed out throughout the game and your overall EntrePulse.