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Foynt project
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FOYNT Drive safe, get rewards. Work in Progress
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description
“Foynt” is an app that promotes safety by not using your cellphone while driving. It is very easy to use; basically you just have to open the app and before you start driving, hit a start button that blocks your phone and counts your time and distance traveled. Once you have reached your destination, stop the app and you will be rewarded with points. The more you drive without using your phone, the more points you get. It is based in a formula that combines time and distance. The points are stored within the app to allow users to save them and exchange them for coupons in a virtual-coupon store.
Transcript of Foynt project
FOYNTDrive safe, get rewards.
Work in Progress
PROBLEM
SOLUTION
FOYNT
Drive safe, get rewarded.
FOYNT
Drive responsibly, get points, exchange them for coupons or help a social cause.
BENEFITS
COMPETITORS
DriveAlive● You must have the phone unlocked● Rewards with cash● Free and premium versions● Not focused on social causes● Poor local impact
BUSINESS MODEL
$
BusinessPay
usersto
Advertise Drive safe to get coupons
Users visit the business
It is a free app for users in which...
● In beta version no businesses will be charged for participating.● Once we release the first version in the App Store, we will begin to charge a fee.● Charity promotions will be financed by other businesses who are willing to pay for donations in exchange of advertising.● Ways to monetize NOT Totally DEFINED YET but:
○ Higher rates can be charged for the amount of coupons released in the coupon store or to have a good spot within the coupons list.
○ Businesses could pay for each coupon that users buy from them. One good example of how to charge for coupons is Groupon.
○ We still have to define if it will be a monthly fee or a fixed fee depending on the number of coupons.○ We can sell monthly packages / memberships that differ depending on the amount of coupons to be sold.
TEAM
EduardoIndustrial Design Major
NicolásBusiness Major
Design skills
MartínSoftware Developer
DavidCommunications & Electronic Engineer
ROAD MAP
1. Problem detection2. Solution design = Foynt (formerly
Lezfon)3. Mockup Design4. Dummy Creation5. Team consolidation6. First beta version planing7. Gathering of real coupons (so far
two businesses in a week)8. Beta completed with the
capability to measure distance and generate points.
What we have done
1. Insert real coupons in the app2. make a test with friend & family
with android OS3. Measure results4. Adjust the project to users needs5. Develop iOS app6. Define cost plans7. Develop a platform to allow
businesses to manage their own coupons.
8. Test it9. Release it...
What we have to do
Achievements● In a conducted survey send to 110 people, 70% of them say they use their phone while driving
● 70% of those who use their phone while driving say they would stop if given a good reward.
● 1 km = 10 Foynt points (foynts).
● In a week we closed a deal with two businesses to be the ones who test the dummy version.
○ A hotel in Barra de Navidad who is offering a free night for 3,000 points.
○ A night club/bar in Guadalajara is offering a free tequila bottle for 1,500 points.
○ Pending - a popular restaurant in providencia is willing to give a discount coupon
○ Pending - One of the top nightclubs in Guadalajara is willing to participate in the dummy
version.
FINANCING / ECONOMICS
How much we require to get startedIn order for team members to be able to work in the project full time we need to cover our fixed expenses + some software licenses, development and advertising. That means the necessary amount of money that each of us require to to live in our current country every month to pay rent, transportation and food.
● Martin requires around €850/ month (around 15,000 MXN)● David also requires €850 / month● Nicolas has a fixed monthly obligation of €350 for car payments● Eduardo will also require about €350
We are talking about €2400 / month
Additional costs would be required to pay for App store licenses, development of an iOS app, design and marketing for advertizing. We have not defined this amount yet.
If we were granted €25,000 we would...We would use the money to dedicate our full time to the development of the app and business.
We would use part of the money in development, part in design & advertising and part to pay for software licenses & fixed costs like hosting and transportation.
Some team members will be able to finance their fixed costs and would not have to worry about other work in order to pay their bills.
As a business we are convinced by our product and we are well aware that using part of the money in advertising is crucial.
€25,000 means that we could all focus in the development of the business without having to worry about getting money to pay the rent, to pay for food and transportation; PLUS, we could really give the project a push in advertising and brand positioning.
Thinking about the possibilities of having that money could help us finance some trips to promote the App on site in other cities as well.
FOYNT, formerly “Lezzfon”www.lezzfon.com
https://www.facebook.com/lezfonTHANK YOU
