Found!t
| Name: Valentine Parisot
NYU affiliation: Stern NYU status: Undergraduate |
Did you enter last year?: No
Do you have any teammates?: Yes How many, including yourself?: 2 |
Concept Name
Found!t
High Concept Statement
Google for local activities
Status Quo
Reduces the amount of time and effort used searching for local activities, instead it will quickly generate classes, courses, events, etc. based on categories of interest. Anyone who is seeking to find a new hobby or a one time experience can do it within the reach of their fingers tips.
Competition
Our main competitors are Eventbrite and Groupon; they both promote local activities and services, all while providing discounts for consumers. Eventbrite is a platform that focuses on event management for one-time activities while Groupon is a marketplace that connects consumers with merchants, offering discounts for activities, restaurants, consumer goods…etc. On the other hand, our app will concentrate on addressing activities that are ongoing, for example: a daily/weekly/monthly painting or latin dance class.
Solution
Our services will help customers discover ongoing activities near them. Eventbrite and Groupon offer services for those who know what they are looking for, while FoundIt will provide the customer with personalized suggestions on what to do based on their interests (outdoor activities, child friendly, the arts, fashion, sports etc.)
Revenue Model
The app will be free to download and will not require any subscription fee from the consumer. FoundIt will have two main revenue streams; a reservation fee taken from merchants when consumers reserve and pay for their activities through our app and, similar to Google, merchants/companies will have the opportunity to pay for advertisement space and higher placements on the search listings. We will, however, provide free advertisement for selected activities, promoting local and smaller-scale merchants.
Which platform would you like to launch your app on?
iPhone
Which category best describes your app?
Lifestyle