- Develop a detailed income statement for your venture for two years (at six-month intervals). Explicitly state the assumptions that underlie your financial model:
In the first 6 months after our app launch, we won’t be making much money from advertisements and partnerships, but as we expand the app use to more schools, our revenue will increase significantly. We won’t need a school manager, we will need to upgrade the app more often, and we will need to spend more on marketing to help build our brand. Traveling costs remain the same throughout.
In the second period after our app launch, our revenue from schools will increase, given our expansion to at least 2 more schools. We will have a built brand name, thus our income from advertisements and partnerships will increase. In terms of cost, we will begin hiring individuals (2) to help us with maintaining the business in terms of business development and general management. We won’t need to spend as much on marketing because our brand name will grow with the number of schools we have in our arsenal.
These trends will continue in the third and fourth periods.
- Identify two SPECIFIC funding sources for the design phase of your project and two SPECIFIC funding sources for the dissemination (implementation/distribution/commercialization) phase of your project. For each funding source, explain why this is a good fit for your project, and what SPECIFIC aspect of your project might the funding source support.
- Design phase:
- GreenFund Grant through Lehigh awarded to facilitate green projects. Our project’s end goal is to make Almaty a greener city. We could use the $2,000 to create a wireframe of our app and even create our first version. The money could be used to hire a team to code the app if we need.
- Experiential Learning in Health (GELH) Grant through Lehigh. Up to $4,000 for projects/research focused on health but has a wide definition of it. Our goal is to improve the health of citizens of Almaty by decreasing pollution and making the city more sustainable. We could use the funding to again help develop our app, but also to do more research on the roots of the pollution if/when we do fieldwork in Almaty, to help our app be more impactful with the sustainable actions we choose to incorporate.
- Dissemination phase:
- Development in Venture grant from USAID under the Environment and Global Climate Change category. This is a good fit because the goal of our app is to make Almaty a more environmentally sustainable city and teach the citizens there how they can help the environment. The money from this source might be able to help us research better ways to combat pollution in Almaty specifically, help us implement more recycling institutions, and possibly help us find ways to quantify our progress in Almaty.
- If the app takes well in Almaty schools, and teachers see value in using our app to teach sustainability, the schools themselves could possibly be a source of funding for us. If schools pay for the use of our app as a teaching tool in their curriculum, that could help fund us to sustain the app (to make sure it functions well and make updates) and make improvements and expand the app.
- Design phase:
- Identify five specific partnerships that you need to forge to advance your project forward with the ultimate goal of positively impacting at least one million people. Describe exactly how that partnership might help you achieve scale and why that entity might be willing to work with you.
- Schools in Kazakhstan. This is possibly our most important partnership. In partnering with them our app will be used by their students to receive incentives on acts of sustainability they perform. When schools embed our app into their curriculum it will establish a much more interactive approach to teaching and exciting students about recycling and sustainability, leading to a greater impact on the greater picture of Almaty and Kazakhstan.
- Students in Kazakhstan. Students are our ultimate target audience. With the students using our app on a daily basis to complete acts of sustainability, our venture will grow and a brand name will be established inside households. We will also have ambassadors among the students whom we will have as a medium between us and the school(s) to discuss feedback, usage, and logistical matters to do with the app.
- Teachers in Kazakhstan. Teachers will have a major role as they will be the ones giving the students their incentives for sustainable acts. Teachers will also have to have a good understanding of how the app works to provide help for students when asked. The teachers will also provide key insights into the performance and perception of the app.
- WWF (World Wide Fund for Nature), World Resources Institute (emphasizes sustainable cities), The Nature Conservatory (again emphasizes healthy cities and preserving land and species). In partnering with these three environmental NGOs, we will make our app and our venture more credible. If we can get these NGOs to support us even just enough to allow us to use their logos in our app, we will be able to reach a lot more people. Kazakh schools may be more inclined to take our app and use it as a teaching tool in their schools. In addition, if these NGOs “tweet” about our app, or advertise about us in any way, that will also expand our outreach.
- Partner with local stores in Almaty. If we partner with them, we can ask them to provide a real voucher or prize to their store when the students achieve a certain goal in the app. In doing so, people will be more motivated to do more in the app, and they will also be more connected with their local community. We also may be able to educate the stores also and convince them to be more environmentally sustainable as well.