Business Concept Summary Assignment Details Prepare a one-page Power Point slide of your idea that could be the basis of a business plan. Use bullet points to address each of the key areas. Use the PPT template provided to create your business concept summary. I have provided a sample for you to follow using the Eye Talk project (see last slide) Concept Description What is the essence of the business? (Eg: This is a business that buys and sells used video games). Opportunity/Need What is the problem and how does your product solve it? How big is the problem? Product or Service Describe the product/service. What is unique about your product or service? Target market If it is a consumer product, describe the demographics and psychographic. Describe how many people have this problem and the SIZE of the potential market. If it is a business product, describe the industry and type of company or organization that you would sell to and how many such companies exist Benefits What are the benefits to the target market? Why should they care? Competitive Advantage Who is the competition? What is your advantage over the competition? Is your advantage sustainable? Profitability What is the revenue model? What is the gross margin (difference between average cost and average selling price).

CriteriaExcellentGoodAcceptableUnacceptabl e 1. Research / Accuracy Completeness / Comprehensiveness Idea Quality5431 Total Points Grading Rubric for Business Concept Summary Criteria 1Excellent (5 points) Good (4 points) Acceptable (3 points) Unacceptable (1 points) Research / AccuracyThe report is clearly supported by information from external research The report is mostly supported by information from external research The report is somewhat supported by information from external research The report is not clearly supported by information from external research Criteria 2Excellent (5 points) Good (4 points) Acceptable (3 points) Unacceptable (1 points) Completeness Report contains all the required sections and provides clear and concise points on every section Report contains all the required sections and provides mostly clear and concise points on every section Report contains all the required sections and provides somewhat clear and concise points on every section Report does not contain all the required sections and or does not provides clear and concise points on every section Criteria 3Excellent (5 points) Good (4 points) Acceptable (3 points) Unacceptable (1 points) Idea QualityBusiness Idea is of very high quality using important trends to solve an important problem or meet an unmet need Business Idea is of high quality using mostly important trends to solve an important problem or meet an unmet need Business Idea is of acceptable quality using trends to solve a problem or meet an unmet need Business Idea is of poor quality as it does not use any trends or does not solve a problem or meet an unmet need

Idea Name & Student Name Need/Problem Point 1 Point 2 Point 3 Product or Service Point 1 Point 2 Point 3 Target market Point 1 Point 2 Point 3 Benefits Point 1 Point 2 Point 3 Competitive Advantage Point 1 Point 2 Point 3 Profitability Point 1 Point 2 Point 3 Concept Description Business Concept Summary Template

Eye Talk - Pia Celestino Need/Problem 1.Currently, there is no readily affordable mechanism that enables blind people to read text in books, magazines, newspapers etc. 2.This poses a significant constraint and limitation on their daily lives. 3.Most of the solutions in the market to address this issue are not portable, affordable, or practical** Product or Service 1.Eye Talk is a pair of eyeglasses specially designed to enable people with low or no vision to convert printed text to speech 2.The product works through an embedded camera which takes a picture of the text and then converts the text to speech; this can be done in real time, on the go. 3.The text is heard by the user through an ear piece. The speech can be converted into different languages. The user has a remote control which he / she uses to start and stop the Eye Talk picture taking process. Target market 1.There are 269 Million individuals who are visually impaired worldwide. 2.This represents a market size of over 13.4 Billion dollars. 3.In 2000 US$42 Billion of economic productivity was lost due to blindness and low vision, this number is estimated to rise to US$110 Billion in Benefits 1. Eye Talk enables blind individuals to acquire knowledge, navigate directions and participate in social and commercial transactions. 2. Eye Talk enables blind people to access resources and opportunities, become employable, gain independence, and not feel ostracized. 3. Eye Talk improves productivity of the blind and ultimately improves their quality of life. Competitive Advantage 1. There are no products currently in the market that directly compete with Eye Talk; from a mobility perspective, products that offer close solutions are not affordable or practical. 2. We have initiated partnerships with the Division of Blind Services and The Lighthouse for the Blind to help us to distribute the Eye Talk to the blind population in the USA 3. Blind individuals may be able to receive Eye Talk for free using existing government grants. Profitability 1. We are proposing two models for adult males and females; the models for children are under development. A projected sales price starting at $50 per unit for the base model (M1), and $200 for the upgraded model (M2) 2. We will achieve financial stability in our second year of operation 3. Our start-up costs of $300,000 are the minimum necessary to allow us to stay on track and complete our deliverables timely. Concept Description Eye Talk is a pair of talking eye glasses that allows people with blindness to hear printed text. Eye Talk will assist the visually impaired to acquire knowledge, shop for many basic necessities, navigate directions, earn a living, and gain a higher level of dignity, freedom and independence. SAMPLE Submission