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InoTech

Online Market Place

Pakistan
Market: Internet and IT
Stage of the project: Idea or something is already done

Date of last change: 12.07.2020
Min investment
$  200.000
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Total required
$ 500.000
Rating
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Idea

To build up a fully functional virtual market place which will provide a one-stop solution for every need of the customer from buying household items to ordering food, from the booking of a ride to availing home improvement services. This project will cover every product and service in the market and instead of using multiple apps customer will use only one app for their needs

Current Status

This project is at the moment in the idea phase but consultation with various teams including development team, marketing team and others have begun. The office and initial staff has been hired base planing and feasibility has been made

Market

This project will be a platform that will connect the vendors with the customer and it will consist of all the product and services available in the market. Therefore the target market for this project will be:
Age group between 21 yrs to 60 yrs old
Income group from $150 (Rs 25000/-) onwards (exchange rate $1 = Rs 167)
City and suburban dwellers
Internet users
E-commerce customers
Online food ordering
Online ride booking
mobile banking and financial application users
low and medium scale vendors
Smartphone/tablet/Computer owners and users
This makes up approximately 40% to 60% population of Pakistan

Problem or Opportunity

The opportunity of this project is very high as there has been a boom in the E-commerce industry at the moment. There has been a mushroom growth in online stores but there is no direction and henceforth, these stores are being closed as rapidly as they have opened. However, on the flip side, these stores have educated the customers to go online and purchase the products. As the project will go live, there is a high chance that no of these companies will leave the market creating a void and this will give us the opportunity to capture the larger share of the market.

Solution (product or service)

The customer at the moment requires multiple apps to order various product and services online. They are required to have multiple applications on the device. The idea is to have one platform that has all the known products and service in the market and it provides a one-stop solution to the customers.
The pricing model varies from organization to organization as the price is determined by the individual organization and they charge at their will. When there will be multiple vendors for the same product and service, the price-determining factor will be the market, henceforth the prices of the products and services will be kept in check and organizations will provide more value-added services if they require to charge higher price

Competitors

There is at this time no E-commerce platform that is providing the complete set of services that this project will cater, however, there are multiple applications that are catering one or another product or service. The pricing model of the competition is on the higher side. There is no quality check and balance and no proper structure of customer service and customer satisfaction. There is a need to provide a one-stop solution with better customer service and delighting the customer to grab the market share from the competition

Advantages or differentiators

Customer does not have to keep track of multiple apps on the device
The pricing is market-determined therefore no high pricing
The vendors will not be required to pay the percentage on the purchase to the project
The project will bear its cost on value-added service eg marketing, renting add space and social media presence, delivery service etc


Money will be spent on

Website development
Domain and Hosting
App (Andriod & IOS ) vendor and customer side
Marketing cost
Infrastructure cost
Salaries till the project come at break-even (approximately 12 months)
IT equipment cost

Offer for investor

5% ROI in invested amount from 13 months onwards
option for Total investment return in 5 to 7 years
or 30% share of profits after 4 years (This needs to be decided after the project comes at break-even expected to be in 12 months)

Team or Management

5,00
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
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