Venture Concept No.2

Venture Concept Write Up

1)      Opportunity-

The opportunity I have identified was the effects of global warming, which resulted in extreme flooding in the Midwest region. The current levy system has shown minimally acceptable tolerances and require upgrades after large storms, extreme weather (hot or cool weather), and expected wear from wind and snow. The identified customers are the local and state governments along with the Army Corps of Engineers who manage the current levy system. This opportunity focuses on the government sector in the Midwest states, specifically around the Missouri River. It will also directly affect the communities in the surrounding area. Currently, communities will prepare for large storms by packing sand bags and moving seed planting times to after the “wet season.” The Army Corps of Engineers currently completes manual inspections along the levies and systematically renovates them. This is an opportunity to help many farms and in turn many communities by keeping jobs and money within those communities instead of losing farming business by outsourcing overseas or Mexico (to locations who don’t have the same flooding issues). This opportunity will be available as long as flooding is an issue in the Midwest or until another solution is put into place.

2)      Innovation-

This product/service is a levy monitoring system designed to monitor levies along the Missouri River, currently a hot spot for heavy flooding which affects many farmers and their communities in the area. This monitoring system will be responsible for front line detection of weak points (minimal tolerance levels) in concreate used to create the levies. Sensors will be placed sporadically along points of tension. They will also be placed randomly in between to determine when maintenance is required. After storms or extreme weather, engineers can trigger the sensors to evaluate the damage to the levies. At which point, workers will know the areas to focus on first before moving onto other parts of the levies. Our company would be responsible for training and maintenance of the system as well as upgrades. This would require contracts with all those involved: the Army Corps of Engineers, Local & State Governments, and a possibility of the Federal Government.

3)      Venture Concept-

My company’s focus on this particular issue will be the reason why they will decide to select our company. The Army Corps of Engineers have multiple ongoing projects and do not have time or resources to update and maintain the levies in the necessary capacity (above minimum standards). I believe if we provided this system to them, they would want to try it. I was unable to find other companies who are offering the same goods and services. Customer support and experience will play the biggest rolls in our business concept. The monitoring system is only one part of the equation. After installation, customer training and system updates will set us apart. The business would be organized into 3 different departments: Product development, customer training, & maintenance. The number of employees will depend on how large the levy system is for now about 100 (30, 30, and 40 respectively). Product development will be responsible for engineering and software updates, customer training will provide trainings and manuals for those who need them, and maintenance will be responsible for any manual inspections or fixes along the levies.

4)      Most Important resource-

My most important resource would be wanting to help farmers and their communities. People first will be the mission of our company. Since this is an important issue that isn’t going away, our company will be known for putting people first.

5)      The next step-

The next step would be to expand to other levy systems to eventually monitor other types of structures such as bridges, dams, and other structures.

6)      In five years-

In five years, I would like to have this project completed and be working on expanding the business to bridges and dams. I don’t think I will continue another ventures but start working in the consulting field.

              

 I received very positive feedback about my first venture concept, so I focused on fine-tuning my wording to make sure others would understand my thoughts fully. In doing so, the biggest change I made would be the motto of my company being “People First.” I believe this will set us apart from other companies. I also believe that a motto only goes so far, and that actually putting people first can be seen through the actions of the company.