Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - BlendIn (oneTap e-paper business card wearable gadget to create a real meeting LinkedIN equivalent)
Teaser
Our objective at Blendology is to replace the current fragmented solutions for exchanging information between delegates/attendees at conferences and other event types with a simple two-way electronic badging system. Its core function is to enable more information to be...
Summary
Our objective at Blendology is to replace the current fragmented solutions for exchanging information between delegates/attendees at conferences and other event types with a simple two-way electronic badging system. Its core function is to enable more information to be exchanged and to record when and where an exchange happens in the event space. Our patented oneTap technology encourages natural, face-to-face communication with minimal technological intervention for seamless and automatic data transfer. The action of tapping is very easy and quick. It encourages delegates to approach one another more easily and it acts as a fun, yet professional, ice-breaker, thereby facilitating and amplifying the value of connections.
As a result of the market analysis conducted during Phase 1 of the SME Instrument, we have fine-tuned our business strategy, both in terms of our product range R&D plans and our pricing structure. Additionally, we have confirmed the final features that will be included in our enhanced products in order to make our solutions the most competitive in the market. Overall, Phase 1 has allowed us to confirm that we have been heading in the right direction, and that we needed to make some important adjustments based on the market needs that will help us increase our competiveness and become significantly more scalable. Blendology has succeeded at designing an innovative electronic badge that has already connected tens of thousands of people from all over the world at events in the last four years alone. The new changes that will be implemented in our next generation of products and services will finally allow us to cover the whole event cycle: from event recommendation, to ticket purchase to an event, to interactions and follow-up after the event. These changes will significantly increase our potential to scale up by also offering our improved products to franchisees globally and by strategically expanding into new markets through licensing deals. We currently plan to apply to the SME Instrument Phase 2 in order to develop our business further to the point that we can scale up globally.
Work performed
People involved
* CEO providing vision
* Business Development providing Franchise model and new areas
* 4 MBA PhD students looking into current market in events
* 4 MBA students looking into future areas of growth of the technology
To create a business plan for our mobile, wearable technology, especially our new generation e-paper badges and several new added features. We plan to redefine our business strategies and explore additional potential add-on features before scaling into other markets and setting up partnerships that will soon allow us to license out this technology and make it viral. Specifically, this grant will allow us to:
• Deliver a process for a scalable product that will be fit for use by franchisees globally
Finalising plans and systems and engaged with 15 countries
• Deliver a plan for the appropriate training and support to be offered to our future partners
Plan has been worked out and finalising the content of the traning
• Understand the dynamics and key success factors for the available market
Interviewed current and new clients
EMAP, AMEX, Banks and independent event organisers
Would like a one-stop solution - Event Website, Ticketing, Mobile, Badging, Follow-up, LeadGeneration, Tracking
• Model a pricing and business structure that creates profit and mass demand
We have a detailed spreadsheets on cost and profit analysis
• Describe a range of products that are needed by the event organiser, delegates and exhibitors
The analysis showed that we needed to create new products
1) Paper badge addon
2) Smart Trays
3) Hubs
• Identify a strategy that opens up the core Blendology concept into other market sectors
We have already opened up to Hotels
Looking at Cruise Ships, Restaurants and corporate building security
• Identify a strategy to make use of our ever-increasing extensive collection of big data as like-minded people form new connections
We have already enhanced the use of our data with tracking and is proving to be successful
• Define a risk analysis and mitigation strategy
Complete Risk and Mitigation register has been craeted and we review every month
Market Survey
- analaysed all direct and indirect products
- alternative markets
Market Analysis of events
- Complete lifecycle from Event Website, Ticketing, Mobile, Badging, Follow-up, LeadGeneration, Tracking
- we are the only company that offers a 360 degree view
Competitor Analysis
- Concentrated on the uniqueness of our oneTap badge
- Other areas there is competition but we can can diferenitae with the use of a complete system and our badges
Business Strategy
- how we organize the business and different sectors we move into and when
> Events with current paper badge will continue, new e-ink badge events have started and at a premium price, creating a scalable paper badge which will mean we will be able to take care of all Franchise
- how to create value in the company
> data processing is the underlying foundation of what we do, we are already seeing that we can charge people for ROI and footfall analysis as it is software algorithms and these are scalable
Product Strategy
- areas being covered in a one stop shop - Event Website, Ticketing, Mobile, Badging, Follow-up, LeadGeneration, Tracking
- product sets
> E-ink badge, Paper bagde, Paper addon badge
> Hubs
> Tap points
> Mobile Apps
> Interactive Apps
- service
> Train
> Deliver events
- franchise
> replicate all of above
- company and event organiser packs
> cut down version of Franchise
Marketing Strategy
- word of mouth
- event shows
- event manager shows
Sales Strategy
- online
- at events
- sales people
Other markets
- Hotels, Resturants, Corporate Company, Healthcare and SmartCity
Final results
\"The most interesting facts we found was, how difficult it is for people to meet each other and interact and to follow-up with the people they meet.
Meeting people has a profound effect on future business and it is very important that people actually meet face to face, as there is something at a sociological level that happens where the correct match can set of a business opportunity that can only be validated when looking the dots connected when looking back in time.
Late Steve Jobs has said:
\"\"Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backward 10 years later.
Again, you can\'t connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.\"\"
http://news.stanford.edu/news/2005/june15/jobs-061505.html
Another profound observation we have seen is that people in cultures where they are not allowed to touch such as Muslims. The women in those cultures were more likely to meet more people especially men, as the oneTap badge did not require any physically touching of body.
Other observations have been as a result of everyone at the event having an oneTap badge, it removes social and hierarchical barriers. Allowing any one to meet with anyone. Where the ice-breaking effect of the badges is the greatest motivator.
The ease at which we can connect and communicate has been extended our solutions in Hotels for staff management, all-inclusive Cruise ships and the healthcare patient care.
The fundamental under pinning of this acceptance has been the ease of use.
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Website & more info
More info: http://www.blendology.com/sme1/blendin.