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IdeaFunding

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by

Charles King

on 25 September 2013

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Transcript of IdeaFunding

signup.cheapavocado.co
cheapavocado.tumblr.com

Customer Validation
Problem
Team
Charles King-
Developer
Application Developer,
BU Graduate Student.
Xiao Qin- Business Development
/Developer

University of Arizona electrical and computer engineering doctoral
candidate.
Forest Danford- Founder
Research Engineer , University of Arizona Soft Tissue Bio-Mechanics Laboratory
Frank Ventura- Business Development/Developer

Biomedical Engineer for Ventana Medical. University of Arizona alumni.
Asher Caplan-
Business
Development

University of Arizona undergraduate in pre-business
Stats
Solution
Customer Interviews:
239
Partner (Stores) Interviews:
9
Priceline.com Co-Founder interview-
1
MONEY
TIME
WORK
(cc) photo by medhead on Flickr
Market Size
MONEY
TIME
WORK
(cc) photo by medhead on Flickr
120 Million Smartphone users

~20% are primary grocery shoppers

5% initial target of archetype
estimated at 1.2M users
188 Surveys
60 Interviews
Customer Archetypes
Gen X
Gen Y
Millennials
-Catalog of local grocery prices built from users scanning receipts.

-Provide the cheapest place nearby to get your items

-List based so results are only for items you're interested in
-Everybody wants to save money

-People do not want to drive to multiple grocery stores

-Cutting coupons takes too much time and work
71% interested
74% interested
30% Already Signed Up!
What have we done?
Windows Phone Prototype w/ working back-end for user management. Cloud storage of pricing data
September - November
2013
December-May
Data acquisition testing (OCR)
Customer Validation
Development
Startup Tucson
Lean Launchpad class
Customer Validation
Application Version Development
Testing/Usability
Release/Expansion
First release
Update/Support
Scaling for more departments
Potential Timeline
Update release
What we need
$20,000 for first year technology costs (OCR API, Web hosting)
$5,000 Marketing expenses for customer
acquisition
Find user acceptance for data entry
Test
Full transcript