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Our value proposition
Given the non-profit nature of our venture, our primary source of uniqueness and distinctiveness is built on the core idea of intangible value. Our idea is a concept of competence-enhancing innovation, our information is customized to the needs of the synthetic biology entrepreneurs and our goal is to build a collaborative space to connect scientists to all stakeholders in the synthetic biology business development process via the introduction of a virtual directory.
Our Business Model: Pursuing the Hybridized Model
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Target Market
Our aim is to initially provide this service offering to the iGEM community within the Americas. The iGEM community is a prime example of an inclusive network that has not only expanded in terms of number of participants, but also in terms of its diversity. Teams are not only bringing forth ideas, but prototypes that have the opportunity to be commercialized. The regionals are being held in cities where the integration of synthetic biology technology and entrepreneurship are highly valued. Our portal is a method to retain the connections that were built within iGEM events, but also help to facilitate those that were missed.
Our target market milestone map is proposed below. Essentially the plan indicates that a pilot phase with the 2012 iGEM Entrepreneurship participants will allow us to gage the interest level and also identify opportunities for enhancements. Thereafter, the portal will be launched to the iGEM community within the Americas, and soon to the rest of the international cohort.
ROI
In every business plan, it is imperative that as financial backing is being sought, the investors understand that there is a structure in place for them to receive a return on their investment. For every dollar the investors put in, it is critical they understand to what end their money is going and the manner in which they can expect to get it back.
For some investors, the aspect of time comes into place. The question of ‘when’ their returns will be actualised will need to be addressed. This means that a metric to measure the performance of their investment needs to be created. This metric will be required to determine the relative success of their investment.
In most cases, the metric is measured as follows:
ROI= (Gain from Investment-Cost from Investment)/Cost of Investment
The above equation is a simple and highly versatile measure of an investor’s returns as a positive value indicates a gain for the investor whereas a negative value indicates a loss from the investment.
Furthermore, the magnitude of the positive (or negative) value can be used to compare different company performances since the ROI value can be expressed as a percentage. However, it is important that the calculation methodologies are similar.
In the case of our website portal, BizBricks, it is important to list out all the gains and costs that will be derived from investment into the portal. The portal will provide several intangible benefits as well as potential avenues for revenue generation which shall be factored into the gains.
*These aspects of the portal are not concrete and have not been incorporated into the prototype of the portal. They simply represent potential avenues for growth and opportunities to leverage the success of the portal itself. As it stands, BizBricks remains a non-profit venture.
