24A – Venture Concept No. 1: WiCharge

Opportunity.

The forces and changes in the current environment that were able to create this opportunity is the constant use of portable devices in daily life. Since the birth of the iPhone in 2007, portability has been key to the needs of the customer to have information, communication, and instantaneous processing available to them at all times of the day. With the evolution of the smartphone, the development of the tablet, smaller laptop computers, smart watches, portable video games, etc., customers globally have become dependent on their devices. It is upmost important to be able and prolong the life in which individuals are able to use their smart devices to get the most amount of work done and not be dependent on the battery life of the device.

This market is defined globally as a majority of individuals in the world use smart devices to communicate, access information, and distribute results from information at their finger tips.

Customers are currently satisfying their need to prolong the battery life of their devices by using wired chargers, bringing battery packs along for a long journey, and using cases for their devices with built in batteries to inefficiently charge their devices to maybe 1.5-2X the current battery life of their devices. I wouldn’t say that customers that own smart devices are loyal to a particular product, but they are more loyal in being able to have a full charge to their devices, so that they are able to emerge into the global network known as the Internet. As long as there is a device that provides the user with unlimited battery and access to their phones, customers will be most loyal to a product that provides them with the best experience to give life to their products.

This opportunity is huge due to the fact that it is a key buying point for customers buying smart devices to have a strong and long lasting battery life. As long as batteries stay at their current state, the wireless advantage of charging their devices with little ease will be monumental to the technology industry, the business industry, the banking industry, and any industry that relies heavily on technology and portable devices.

This window of opportunity for this product will be open indefinitely until there is a next revolution in energy, which with the slow development of greener and alternative energy will be for decades to come.

Innovation.

This device will ultimately solve the global energy crisis for portable devices. This will be a hand held device that an individual will be able to carry with them on the go in their pocket, backpack, or purse. The technology will be sending current through the air in a limited radius for the user to be able and sync their smart devices with this product and the ionized air particles will interact with the batteries of the smart devices and give them energy without being plugged in directly to a energy source that would not be portable. The service that this venture will be selling the product for $500. The leisure that customers will be provided with will pay for itself in the ability to give the user unlimited amounts of energy from merely the particles of air that will be in the environment. Although the objective is to solve the energy crisis, this device is not perfect yet and the user will have to charge their device after long term use. The average use of this product will last up to a week, so the customer will not have to charge their charging device everyday. It has come to the point where individuals have to charge their smart devices everyday and multiple times a day. Being able to reduce this necessity to once a week to all devices, will be monumental for the amount of time saved charging those smart devices and increase the productivity of the user because individuals do not use their devices while they are charging. It is upmost important that the user will be able to be productive and use their smart devices while they are being charged wirelessly and not have to depend on being near an outlet or electricity source.

Venture Concept.

The reasons customers will want to switch to this new product is because people are constantly on the move and rarely in one place for very long. The capability of users to be able to use their smart devices on the go and efficiently will be the reasons why they switch. It will not be hard for them to switch because this device gives the user a friendly, effortless experience to charge their smart devices.

There are currently no competitors to this because the technology is just starting to develop. A possible weakness for this product will be that customers will not want to carry around another device to their armada of smart devices they currently use in their every day life.

Customer experience will play a huge role in defining this business concept because if the individual isn’t able to have a effortless experience in charging their devices, they would rather use traditional methods to give them energy.

This venture will be organized into a business by locating itself in a technology and innovation hub. The number of employees will depend upon the success of the product. The roles of this venture will be to give everyone in the world access to portable, wireless energy and it will be key to development of energy processes for all devices that use energy and electricity.

The three minor elements

This venture’s secret sauce will be the technology of wireless charging. A patent will be made for this technology and it will be very hard for competitors to copy a service that has a patent on it.

The next opportunity for this current innovation will be to increase the amount of range and battery power the device will give to other devices.

Research and development for several years will have to take place to develop a functioning product.