[startup nations summit 2014] competition - jamaica
DESCRIPTION
JamaicaTRANSCRIPT
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I am going (English) = me a go (Jamaican)
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Overview
meago is a mobile application for event patrons to easily and conveniently
purchase mobile tickets for events in the Caribbean
Prototype currently available
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Team Skills
Roxanne WanlissProject Manager
Howard CampbellAdvisor, Jamaica
Oneal AnguinTech Architect
Caroline HowesAdvisor, UK
Zinzi SamuelsMarketing
Jason AlsDeveloper
Owen LillyDeveloper
• Certified Project Manager
• 10 years development experience in various mobile and web technologies
• Design Communication Specialist on team (Marketing)
• Mentors• UK – experienced entrepreneur
• Ja – business development
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The Customer Pain
A COMMON SITUATION. PATRONS IN TICKET RUSH. SOME LEFT ANGRY, OTHERS DISAPPOINTED!
In Jamaica alone there are approximately 100 events attracting over
50,000 attendees each month.
• Unfortunately, for these persons to get their tickets for these events, they must:
• Identify places where they can buy the tickets
• Get to those places within opening hours
• And hope that tickets are not SOLD OUT!
Imagine this situation extended to the
25 millionannual visitors to the
Caribbean
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OurUNIQUE solution
An example of a ticket securely generated by
meAgo
37 AVAILABLE
Convenient24/7/365 access
to tickets
Real time information on
ticket availability
meAgo, the only place you need to
know for ALLyour events
uses Enco-Sure™, our proprietary technology that ensures that once a ticket is purchased, event access is guaranteed
facilitates electronic transferring of tickets provides easy event access using your securely generated Get, Show, Go™ ticket
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Demo / Video
SCAN ME
See promo video here : https://www.youtube.com/watch?v=v6iNvvqIzKk
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Competitive landscape and our advantage
MOBILE and always OPENAll tickets available in ONE placeSafer than cash transactionsIn app PAYMENTAdditional SUPPORT for event organizers
BRICK & MORTAR TICKET OUTLETS
EVENT SPECIFIC WEBSITES
ERROR!!!Invalid username OR
password
INTERNATIONALONLINE TICKETING SITES
LOCAL ONLINE TICKETING SITES
Fontana Pharmacy Rebel Salute YaadTickets.com EventBrite
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The Opportunity (Market size/Target customers)
150,000 annually
Market Growth
At least
20%annually
Mobile PenetrationDemographic Info Smartphone Stats
SOURCES
4 million Caribbean Region• Market Growth
– 50,000 customers in our market
– Average customer buys at least 3times per year
– Annual market growth estimated at
20% annually, will be fueled by new
customers, increased event listing and increased number of transactions per customer, and geographic expansion across the
Caribbean region
• The Market– Persons in Jamaica within the 20-24 age
group,
– primarily university students, smartphone users, sport enthusiasts, in the 25 - 54 age group
– SOURCES: Statin, ITU,
– Smart phone user base estimated at
320,000 as at December 2011 and
growing
25 million annual visitors
to the Caribbean Region
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Business Model
Licenses and Convenience fees
70%
Premium Services 20% Appertisments
10%
277,626Estimated Total Net Income projected by
the end of third fiscal year stated in USD
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Financials: Projections for 4 years
Year 1 Year 2 Year 3 Year 4
Total Revenues 25,743 535,798 1,240,793 3,101,982
COGS/Cost of sales 8,906 1,815,357 429,247 1,073,118
Gross Profit 16,838 350,441 811,545 2,028,864
Gross Profit Margin 65% 65% 65% 65%
General and Admin. Expenses
Salaries
Website
Marketing
Other
62,549 266,572 533,919 1,163,048
Net Profit (45712) 83,869 277,626 865,816
Net Profit Margin (-178%) 16% 22% 28%
All figures stated in USD
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Funding Required for the first year, what will it be used for
• meago is currently in the prototype stage
• An investment of USD65,000 over a 1 year period would put us at a distinct advantage to allowing us to :– Meet our targets for our soft launch– Deploy our marketing and strategy– Offset mandatory and/or regulatory expenses– Implement our interim payment solution– Assure efficient technical maintenance– Secure a bigger part of the current market– Secure key hires– Scale the business to other Caribbean territories– Deploy the necessary marketing strategy in theses new territories– Implement the best payment solution– Realize technical and business infrastructure to scale for growth
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Summary
The team is committed
The product is needed
The market is growing
meago is ready
We’re READY!