OCT 16 - LEAPS OF FAITH AND PROBLEM INTERVIEW QUESTIONS

For this session our group was supposed to discuss the existing environment and how potential customers are currently solving the problem:

As the result of recent research on the problem, we have identified the following key components that are currently being perceived as not satisfactory by many tourists:

- available information is often catered to tourists but not authentic
- it is very difficult to get good recommendations for authentic local places
- tourists end up spending more because they run into tourist traps (e.g. restaurants, cafés, expensive tickets instead of free opening hours, etc.)
- communications is at times a problem to elderly and oftentimes to travelers from asia.
- in emergency situations, it is necessary to communicate in a foreign language ( a situation that many ppl. do not feel comfortable with)

More detailed information can be taken from the posted presentation below. Currently there is a range of services that are able to solve these problems to some extend. The following link will show a description of analogs and analogs as well as an analysis of existing direct and indirect competitors along with their strengths and weaknesses.

Link: Analogs, Antilogs and Competitors

Ideas and the selection process

Over the first week our team gathered various problems, that are worth solving for our start-up project.

For the first meeting everybody should come up with 3-5 different ideas. To keep it a little bit short we will only list the keywords of the ideas below, but you should be able to figure the problem behind it. Those are the ones we had the choice between:

Electric Motorbike: Chargingstation

Unique Internet Experience: Infinite Quote Website

Personalized Plan Aggregator

Private Parkingspace rental

Group Ticketing for individual Travelers

Cellphone shargingstation finder

Instant translation

ERASMUS: Student set up

International labour

Gas station comparison

Cycling, get points and get rewards

As a next step we picked our favorites (red marked) and did some further research to if services or solutions for the discussed problems already exist and if they are good or not.

Due to various reasons (service exists, no real problem, not feasable in one semester, etc.) we decided in the following meeting to work on the Communication problems of people not speaking the local language (aka Instant translation)

Intro

Before we start decribing the problems we found worth solving we want to introduce us and the project (subject) itself.

Team members:

Dong (teamleader)
Christian
Paul
Stephan

The purpose of this blog is to show our progress over the semester in the subject Entrepreneurship and Venture Capital. The course is hold at LaSalle in Barcelona.

The subject itself is about how to develop a startup business and how to turn your idea into reality.

So be our guest and see what manage to achieve over the next months.