Technology Entrepreneurship Venture Lab 2012 -Corazon
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ONE DAY IN MANILA...
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This is a student project in the Venture Lab program being hosted by Stanford. Our team was given the worst Idea by another team and had to make it work. We have pivoted this bad idea into something that could be huge. The original team's Worst Idea was for an online furnishings store in the Philippines. The team stated that a major barrier was that very few Filipinos have credit cards. Our proposal leverages VisaCard's emerging technology of prepaid debit cards embedded in smartphone SIM cards, and the fact that over 80% of Filipinos have mobile phones. We pivoted the online store concept to include homewares and electronics, and eventually sales will extend to a virtual marketplace where micro sellers and bricks and mortar stores can sell their goods online. The smartphones will come with an preinstalled sales and purchase app that accesses the embedded Visa debit card, and in order to sell them we will start with a marketing campaign to sell them by mail order with customers paying for them by mailing in a Philpost Postal Money Order.
Transcript of Technology Entrepreneurship Venture Lab 2012 -Corazon
ONE DAY IN MANILA...
I REALLY WANT TOBUY SOME FURNITURE AND
THINGS FOR MY HOME ONLINE,BUT HERE IN THE PHILIPPINES
THE BANKS WONT ISSUE CREDIT CARDS
YOU SHOULD TRY THENEW ONLINE STORE CALLED
CORAZON, THEY ARE SELLINGA NEW SMARTPHONE THAT
HAS A VISA CARD EMBEDDED IN THE PHONE AND YOU
CAN BUY FROM THEMUSING THEIR APP!
A WHAT??? A VISA CARD IN A
PHONE???
OH YEAH, AND YOU CAN TOP IT UP WHEN YOU RECHARGE THE
PHONE!
HOW CAN I BUY ONE FROM CORAZON IF THEY ARE AN
ONLINE STORE???
CORAZON ARE ADVERTISING IN THE
NEWSPAPERS AND YOU CUT OUT AND MAIL IN A
COUPON WITH A POSTAL MONEY ORDER!
THEIR ONLINE STORE,DOES IT ONLY SELL
PHONES?!
NOT ONLY PHONES,THEY SELL ALL SORTS OF
NEW FURNITURE, APPLIANCES,HOME FURNISHINGS AND
ELECTRONICS!
SOON THEY WILLHAVE A MARKETPLACEWHERE FOLKS LIKE USCAN SELL STUFF TOO!
WOW!!! THAT IS AMAZING, I CAN’T WAIT TO GO ONLINE
ANDSTART BUYING!!!
CORAZON WILL BE THEBIGGEST THING IN THE
PHILIPPINES SINCEFRIED CHICKEN!!!!
