S’can
| Name: Jeremiah Leong
NYU affiliation: Stern NYU status: Alumni |
Did you enter last year?: No
Do you have any teammates?: Yes How many, including yourself?: 2 |
Concept Name
S’can
High Concept Statement
With a one-time snap of the grocery receipt, S’can tracks refrigerator inventory and alerts users when items are about to expire.
Status Quo
Every year, 40% of total US food production (i.e., 160 billion pounds of food) is wasted; a number of those who discard expired food items are college students and young professionals who do not cook daily or keep track of their refrigerator inventory.
Competition
The most established competitors are Out of Milk, Pantry Check and Fridge Pal, apps which rely on barcode scanning and manual input. Based on preliminary research in the expiry date space, only Fridgely offers a single scan option; however, their technology still appears to be in its early stages. Other larger players, like Ibotta, are focused on provision of offers, coupons and cashback per receipt scanned. Our app should be more palatable to the mainstream.
Solution
With a simple s’can of the grocery receipt, our product automates the process of recording groceries and their respective expiry dates (via a database).Unlike our competitors, users can avoid the hassle of manually inputting information. The app also alerts the user of upcoming expiration dates, recommending recipes from remaining ingredients.
Revenue Model
Our app will be free to download. We intend to generate revenue through 3 methods: Selling data collected on grocery purchasing and utilization habits, placing general banner advertisements and partnerships with grocery stores to promote select items, collaboration with a recipe website partner to drive user traffic to their site through recipe push notifications utilizing existing ingredients At the same time, we intend to track our social impact through 2 ways: Percentage decrease in food waste for each user, which we know through allowing users to select “consumed” or “expired / spoilt” when removing items from inventory. Decrease in dollar cost of food waste, which we will occasionally prompt the user “you wasted $x worth of food this month”
Which platform would you like to launch your app on?
iPhone
Which category best describes your app?
Food & Drink