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Financing the Venture + Building Partnerships

Question 1: Income Statement (We are just starting out so our income statement is for the next two years since we won’t be making money for a while)

Revenue: +

  • Subscription income from individuals: for individuals who take it upon themselves to download our app
  • Digital medicine “prescription insurance”: for either hospitals or health insurance companies that want to offer our app as an addition to their medical care
  • Premium profile income: for potentially added special features of our app that more specific groups for people such as athletes to use
  • Direct charge towards a company for app use among workers: for companies that want to reduce liability for their workers by providing our app

Cost of Revenue: –

  • Functional Services (domain fee + fees for features in the app)
  • Administrative Services
  • IT Support Services (App updates/maintenance)
  • Marketing cost 

Gross Profit: Revenue – Cost of Revenue

Operating Expenses (Overhead): –

  • Web Developers (Those that create website/app)
  • Webmaster (Person that updates and overviews the website/app in the long run) 
  • Domain
  • Pay for air quality data usage (License)

Net Profit: (Gross Profit) – (Overhead)

Question 2: Funding Sources

    1. Design Phase
      1. Angel Investors
        1. These would be very good for our project because they typically fund the early-stages of projects, which we are in right now.  They could also add a lot of value to our project besides money.  Since we are still in the early stages it would be great to have someone that is also able to help us with which directions to go in order to make our project successful.  This funding source could help us with funding for web development and app design.  

 

  • Federal Government

 

        1. This source of funding aligns well with our venture because we are serving as a way to spread public health awareness, therefore; aiding the federal government. This funding could specifically help strengthen or solidify our information maybe through accreditation or certification. If there was a way to get our information certified it could easily foster trust with customers in the next phase.
    2. Dissemination Phase
      1. Strategic Partners
        1. Our strategic partners that we pick would be a great funding source for the later phases of our project.  Especially if we have web development  companies as partners.  They could help fund the maintenance and continuing development of our app as well as paying for domain fees and functional services that have costs

 

  • Federal Government

 

      1. Having the Almaty government as a funding source for our project would be a huge benefit in terms of getting the government to start taking action and helping the city combat air quality.  They could also help us get into the healthcare system and fund 
    2. Let the business pay for itself?
      1. As a software/ online-based venture our cost of revenue is not a lot. So technically after getting past the design phase, we could rely on the venture to cover some cost in the dissemination phase. Especially the aspects of spreading awareness of our application. 

Question 3: Partnerships 

  1. IQAir
    1. IQAir is an air quality data collection website that tracks different pollutants all over the world.  We need them to be able to advance our project because we need to have access to real time air quality data that we can feed into our app.  It will help us achieve scale since it will be able to justify our warnings and notifications that we want to distribute to people so that our app is more trustworthy and reliable.  IQAir already has data that we can use, but by partnering with us it could help them sell more of their air quality devices and be able to access even more data in Almaty
  2. Hospitals and the Almaty health care system
    1. Partnering with hospitals and the health care system will help us reach a lot more people that are suffering from air pollution-related health issues like respiratory diseases, asthma, and cardiovascular diseases.  If we take a telemedicine approach and have doctors prescribing our app to their patients to help them reduce their air pollution intake, we would be able to reach a lot more people that need our app the most.  They might be willing to work with us because we are giving the doctors a way to help their patients stay aware of the air pollution they are bringing into their lungs.  Doctors will also be able to monitor exactly how much exposure their patients are receiving and can help adjust their medications better.  
  3. Web developers for development and maintenance 
    1. Partnering with a web development company could be very beneficial for us to keep our app running quickly and efficiently.  We’re going to need someone that is good with not only app maintenance, but also updates and adding new features.  THis will help us scale our product because as we get more users we are going to need a bigger and bigger team to be able to manage all the information that the app is taking in and distributing.  A company that does web development would be willing to partner with us because we are creating something that has never been done before and could, if successful, be implemented in a lot of other countries and areas for helping track air pollution.
  4. NGOs
    1. Partnering with NGOs will help give our venture credibility and allow us to reach more individuals through their connections.  It’s really important that we gain their support so they can help promote our app.  They would be willing to work with us because we are trying to provide help with the impact of pollution on individuals and that is something NGOs are constantly combatting along with environmental injustice.  
  5. Power plant
    1. Partnering with the power plants in Almaty would be a really great way for us to help individuals that are more at risk from suffering from air pollution health issues.  All the workers in the power plant are being heavily exposed to air pollution and it would be great if we could reach all those individuals.  The power plants would be willing to work with us because a lot of their workers are being put at risk of health issues and our app can reduce the liability that the power plant has for causing those health issues.  

 

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