[startup nations summit 2014] competition - jamaica

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LOGO I am going (English) = me a go (Jamaican)

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Page 1: [Startup Nations Summit 2014] Competition - Jamaica

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I am going (English) = me a go (Jamaican)

Page 2: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 3: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 4: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 5: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 6: [Startup Nations Summit 2014] Competition - Jamaica

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Demo / Video

SCAN ME

See promo video here : https://www.youtube.com/watch?v=v6iNvvqIzKk

Page 7: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 8: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 9: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 10: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 11: [Startup Nations Summit 2014] Competition - Jamaica

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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

Page 12: [Startup Nations Summit 2014] Competition - Jamaica

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Summary

The team is committed

The product is needed

The market is growing

meago is ready

We’re READY!