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Background/Case Study
Congratulations! It is the year 2017 and you have just received The Young ICT Entrepreneur Award and your face is on the cover of New Scientist magazine!! This is for your digital innovation that exploited current and emerging technologies and created a new e-business/product/service/application/technology/business model that the world had not known about before and one that has delivered tangible benefits to users. You wonder why no-one had thought of the idea before; the media is amazed at its popularity and how quickly it was adopted.
Your task for this assignment is to go back in time to 2014 and write the Proposal/Business Plan for starting your proposed new company that won essential investor capital to commercialise your digital innovation. The Business Plan was presented to “Angel Investors”; very experienced business people who support only a small number of start-up companies based on a unique proposition. It was difficult to get an opportunity to present your Business Plan and even more difficult to convince them of the soundness of your idea. Typically the Angel Investors only invite back for further discussions one out of every 20 entrepreneurs who present to them.
Activity A: Journal (500 words)
Prepare a journal which records your activities and progress related to completing this assignment. In date order, list the following:
● Date of research activity/discussion/meeting
● Topic researched or discussed
● Time duration
● Brief description of research activity/discussion.
Submit this journal as an appendix to Activity B.
Activity B: Proposal to Angel Investors (3000 words)
Complete the requirements below by producing the written report that you presented to the CEO of Angel Investors in 2017.
Part 1: Your digital innovation
Write a summary of your proposed initiative addressing the following:
• What your innovation is about
• Current business/social/consumer problems your innovation will address/solve
• competitive products/services and why your initiative is different
• The key areas where your innovation is likely to have impact
• Who your customers will be, how large the market is, what will compel them to buy your innovation, how you will attract and retain them
• Problems and drawbacks of your innovation
• The future of your innovation.
• How you can measure the success of your initiative
Part 2: your company
Describe your proposed new company to commercialise your initiative in terms of the following:
• the industry (e.g. banking, healthcare, travel, airline etc) it operates within,
• its key products/services,
• corporate vision and mission,
• business strategy,
• corporate structure,
• major business processes, and
• relationship with external entities e.g. other organisations, government etc.
• The risks your proposed new company must consider and how these risks can be mitigated
Part 3: Technology requirements and infrastructure
Using relevant sections of the text book, describe and analyse how information systems could assist your company to service your customers, integrate your suppliers and provide operational efficiency, including
• Summarise the information systems requirements (applications)
• Describe the required IT infrastructure
Part 4: Conclusions: finance and key findings
Estimate figures based upon your research and produce an expected Profit & Loss statement for the first 3 years (you can find many examples on-line). Clearly state to Angel Investors how much you are asking them to invest and why; explain the anticipated return they will receive. Clearly state why you have a compelling case for investment.
Presentation of your report
Layout, professionalism, cover letter, Table of Contents, use of graphics or other ways to enhance readability and impact.
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