We are Ludic (previously ‘Eat With Me’). The idea behind the app is simple - to help people to meet up with others on the ANU Campus. More specifically, we want to create a mobile app which allows university students in Canberra to meet each other for friendship and shared activities with a focus on three areas: common interests, proximity and immediacy. We embrace in-person connections to bring back the human touch in an increasingly digital world. Although we are connected 24/7, our connections are increasingly digital. This is leading to greater numbers of social isolation with 83% of Australians feeling more lonely (Lifeline, 2016). Our own survey of 185 ANU students, show that 95% regularly use social media yet 33% feel isolated “Often” or “Always”.
Although the usage of an app for meeting others is not new, what this app does is to limit the type of users to only those on the campus. Although a variety of social-media exists such as Facebook that can be used to meetup, the platform aims to simplify this process, i.e. instead of making a Facebook event or commenting on a page and finally checking if a person/group responded. Facebook events are reactionary instead of being live, and this app wants people to meet up when they are free through live-sharing of location. There is also the issue that a Facebook profile, might be ‘fake’ or not belong to a student on campus as a valid university ID is not always required to sign up for event or group pages, and this app aims to allow users to only sign up with valid Uni IDs to ensure safety.
Our users and customers differ. For the purposes of Innovation ACT, the following distinctions have been applied:
1. Users refer solely to our end users, which are the students. Students will be accessing the app for free.
2. Customers refer to those entities that will pay in order to allow Users to access it. This would be the universities we are targeting.
Our main demographic is all university students. Although our app targets those students that are high risk of social isolation, this app can be used by any one. Education figures show student enrolments have increased every year since 2001. The Department of Education states that most current enrolment numbers are at 1.2 million students in Australia alone (Department of Education, 2017). Globally, this figure is set to be 262 million students by 2025. This indicates that the number of university students who are our potential users, is a large and growing base. If we were to initially capture just 5-10% of the Australian university students, we would be helping 60,000 to 120,000 (5-10% of 1.2 million) students live more fuller lives through meaningful interactions.
We have further divided our target market into the following categories:
Undergraduates - both Domestic & International
Postgraduate - both Domestic & International
Alumni - Alumni residing in Australia
Our app wants to address a big concern within the university community, namely social isolation. In 2016, the ANU Student Association (ANUSA) did a survey of students revealing that 32% struggled with mental health. Additionally, from our most recent survey (of more than 180 ANU students), 33% stated they ‘Often’ or ‘Always’ feel isolated. Furthermore, an astounding 66% said they felt isolated at least ‘Sometimes’. While almost all engage with social media everyday, this feeling remains and we plan to address this by encouraging social interactions, which are essential to preventing isolation and intrinsic to good mental health.
Groups that are particularly at risk are:
- Undergraduate first years who often migrate interstate and are just starting out for the first time in an unfamiliar domain, with many finding their old high school connections begin to dwindle as they go their separate ways.
- Postgraduate Students who often struggle with social interactions when there is no structured classroom and high work demands in a professional environment which is less conducive to progressing beyond colleagues to meaningful friendships.
- International Students who face many challenges in migration to a new country, some of which include cultural adjustment, creating an entirely new social network and engagement with their peers and activities in Canberra.
What our user validation showed us:
- After extensive customer validation, and aggregating our team’s findings (we have interviewed around 50 students, and surveyed an additional 185 student users). We have thus far validated both the problem and the solution (which is our app).
The table below indicates aggregated results from all of our customer validation efforts. The left column represents some of the customer pains, and the right side indicates some of the way our app is in a unique position to tackle this.
1. Timing – It is hard to find common times when people are free. Moreover there is also inconsistent attendance to events & classes.
1. Timing – See who is free right now, both old & new connections alike. Does not depend on attendance on a particular date and time, meet whenever you are free.
2. Timing – Infrequent meeting times e.g. weekly, semester, bi-weekly, annually.
2. Timing – Interactions can be as frequent as you want it to be, you choose to have interactions daily, weekly, monthly. 49.97% of users indicated that they would use this app at least once a week, with 32% of those indicating usage of ‘Few times a week’ or Everyday’.
3. Conversation – Hard to start and/or hard to maintain a conversation.
3. Conversation – The app will pop up with ice breakers and/or conversation starters, so that the first hello is a little less awkward. Moreover, in matching with others with shared interests, there will be something to talk about!
4. Takes lots of effort (incl. mental energy) and time to meet people.
4. Easy to use the app. Matches with individuals with similar interest, happens in seconds, and then you meet. Also makes meeting with other students (off campus student or from different halls) easier. This will make the process of meeting others easier, faster and reduce energy drainage.
5. Settings – Some meeting settings are restricted to only academic settings i.e. they meet and make friends only in lectures or tutorials. However, not much interaction outside of that.
5. Settings – Settings for a meet on this app can be casual, academic, outdoors. You choose!
6. Wanting to meet others with shared interests
6. Users will be matched based on shared interests, which make up part of the user profile. They can choose as many shared interests as they like. Shared interests can range from courses they are doing, to hobbies, activities, or even languages they want to learn.
7. Connect with off-campus students, students from other halls
7. Well you can meet up with any student, staff or alumni of the ANU!
8. Safety when meeting people
8. Safety and security measures includes signing up students with a valid university email. Secondly, there will be options to block others, deactivate and delete your account permanently.
Notable findings from the survey of 185 current and past Canberra Tertiary students:
- 33% said they felt isolated at least ‘Often’ or ‘Always’
- 66% said they felt isolated at least ‘Sometimes’
- 85% of respondents indicated that they engaged with social media every day
- 60% of respondents indicated they would use an app such as Ludic, that allow students to connect right now and in-person matching common interests.
- 91% users said they would find this at least slightly useful.
- 49% said they would use this app at least once a week. A further 38% said they would use this app at once a month.
Our customer here is ANU and student associations, who will be paying to use this service, which benefits them by aligning with their statement of purpose and strategic directions. We are looking to get both in-kind and financial support from our customers in return.
1. Student welfare - They want to find efficient means to improve student welfare. This would be in addition to the social infrastructure already in place such as the clubs & societies, Counselling Center, Medical center & ANU Sports & Recreation center.
1. This app allows student users to meet like-minded individuals. The app emphasizes to connect people face-to-face and encourage the social interactions, which are essential to preventing isolation and intrinsic to good mental health. Moreover, the app will encourage users to partake in activities such as debating and sports. As such, we believe this app will enhance student welfare (especially mental health).
2. Credible innovations originating from the ANU
2. We are an innovation that began in the ANU, in fact with the first ANU Innovation Challenge in 2016. ANU will be our home, and the start of our story.
Our users have found a myriad of ways to forge connections with both new and old friends alike. Below we identify all the methods that are in the social networking space, and have categorized them into:
- Technological solutions - that people are using to meet others. These are social networking apps that allow our users to meet with one another in various settings.
- Non-technological solutions - that our users are using to meet others. These involve clubs & societies on campus, events and going to class.
Competition: Technological Solutions
Competition: Technological Solutions
|Name of competitor||Summary of what they do ||How we are different & improve on current solutions|
- Group meetings based on common interests
- We are not pre-scheduled events, our app is about real-time connections i.e if you want to meet someone now, you can do so
- We also individual and group settings - so if you want, you can choose to have a one-on-one chat instead of meeting an entire group.
|Bumble & Bumble BFF|
- Location-based services that allow you to meet either romantic partner or a friend
- Unlike Bumble, we do not focus on just dating. Users can choose the type of interactions they would like to have between 'Friend-ing', 'Networking' and 'Dating' - giving our users more control over the type of interaction they wish to have. However, we are starting our app focusing solely on one type of interaction - friendships.
- Compared to Bumble BFF, this app focuses on matching users based on location. However, Ludic allows you to match with those within the same location, but with 2 additional important features: you can meet with someone right now because of live location, and you meet with someone based on shared interests.
- Moreover, users on Bumble choose to interact with each other based on a photo and very limited information. We believe this emphasises superficial connections. However, Ludic aims to help users look beyond a photo, and form deep connections. In fact, you can also post up a photo of an avatar or cartoon, such as a BitMoji. That way Ludic moves away from determining connections based on solely superficial characteristics.
- Location-based app that focuses on only dating.
- Although we appreciate Tinder's capability of connecting people in-person, Tinder focuses solely on dating.
- Moreover, it has a reputation as a "hook up app" and that is something we are not. We emphasise different types of interactions, with our main focus being on friendship.
- Again, a Tinder profile is based on photos of the user, thus creating a superficial element to every connection. However, our app aims to help users look beyond a picture, and focus instead on what really matters - meeting right now with people with common interests.
- Private social network for your neighborhood, allowing you to exchange information on the local community through your smartphone
- We are not open for just the neighbourhood, but instead for the whole university.
- An app based on preferences and proximity, much like a dating app but for friends
- Whilst this is similar to us in that it emphasises shared interests and also friendship - we differ as our platform is about real-time connections and instantaneous connections. We use live-location to connect people in real-time. So if you are free right now, get on Ludic and meet your future friend right away!
Meet My Dog
- You can use our app, dog or no dog
Foursquare City Guide
- Its City Guide helps you find the best restaurants and bars in the area, while also giving you some insight into where like minded folk might reside.
- Ludic takes the guessing out of if those people want to talk to you. If they are 'live' on the app, that means they are open to a conversation!
- Moreover, our activities span larger than just restaurants and bars, and you can choose other activities (e.g. jog around the lake).
- Offering group chats with users of the same gender, its smart algorithm pairs you with like minded people, allowing you to get to know each other safely.
- We aim to foster face-to-face interactions over digital interactions only.
- Moreover, we have both group and individual settings, should you want to do either, in your own comfort.
MeetMe (covers all social messaging apps such as FB messenger, Badoo, Instagram, WeChat, Chatous, NextDoor)
- MeetMe offers over 100 million people chatting, covering all ages, nationalities and backgrounds.
- Whilst MeetMe allows the world to meet, and chat - that meeting takes place digitally.
- Ludic aims to move away from digital connections, and instead foster friendships in-person.
- Nearify is as an app for letting you know of events happening near you, but it’s also a cool way of meeting new people. You can easily check out what events your friends are liking or attending, as well as keep in the know about when your favorite musician or comedian is around.
- Although we are a location based app, we do not just focus on meeting in events, in fact we also facilitate meetings that occur outside of events.
- Moreover, users connect with each other directly, rather than through an event.
Non-technological Competition: These refer to solutions our users currently use in order to meet and maintain their social cirlce.
Name of competitor
Summary of what they do
How we are different & improve on current solutions
University Clubs & Societies
Clubs and societies allow others with a specific shared interest to come together, and partake in various events and activities. For example, there is ANU Finance Society, which holds various Financial Case competitions. Events take place weekly, monthly, bi-annually or annually.
- Whilst clubs and societies share our enthusiasm to gather those with common interests, it has some shortcomings.
- For example, events are usually structured encounters, we focus more on spontaneous, unstructured encounters.
- Clubs & Societies are some times riddled with internal politics. Our app stays away from politics! It is not a popularity contest.
- Inconsistent event attendance makes it hard for friendships to form. Ludic allows you to meet other like-minded when both of you are free.
Lectures is the all encompassing term we have used for ‘Lectures, labs and tutorials.’
- Whilst you can meet people doing your course, lecture attendance is inconsistent. This makes it hard for students to make and maintain strong bonds. Ludic, on the other hand, won’t let you down. You will only meet someone when both of you are 100% free.
- Meeting in an academic setting restricts relationships to just that. Our app allows you to meet others, and then go and do an activity together. That way, it makes a potential friendship more than just asking for the correct tutorial answer. It becomes a friendship based on shared experiences.
Bringing people together to enrich their lives with meaningful human connections and experiences.
The app idea is very scalable, and can be repeated in any number of settings. It can be marginally altered to include other universities. We can also replicate this in other institutions such as office places.
Our current go-to-market strategy involves starting out with the ANU, then UC, which are the two big universities in the Canberra Region. Shortly thereafter, we would like to enter CIT and UNSW ADFA, which are also tertiary institutions within the Canberra region. We would like to implement this within Canberra in the next 1 to 1.5 years.
In the next 1-3 years, we would like to see this app being used nationally, around Australia. We would expand firstly to all the universities within Australia, reaching more than 1.2 million students (Department of Education, 2017).
In the Medium run (2-4 years), we would like to expand to other institutions such as offices and government departments. Replicating this app from just educational settings will foster even more relationships.
We would like to see the products' viability globally as well, but that expansion is more longer term (next 5 years). The world's tertiary enrolment is set to be 262 million by 2025 (according to University World News). This gives us leeway to tap into a vast market. With our skills, Ludic has the potential to be an international success, and we envision this app to be used by people all over the world.
We are trying to address social isolation in universities through our app. Our app allows you to meet and connect with like minded individuals, thereby bringing back face-to-face interactions in an increasingly digital world. We hope to combat social isolation and other mental health issues with this app. The 4 of us have experience in IT, Health and business amongst us, and we are capable and passionate to deliver this project. We are hungry for results, and we want to make sure that we can reduce the number of students facing social isolation on campus.
We are looking for a mentor with start up experience, marketing, UX/UI skills, business development skills - and any one with a passion to solve this issue.
The Customer Experience
AWARENESS Stage - How Customers will come to know about Ludic:
As our brand is relatively non-existent as of yet, we have decided on a ‘hammer’ approach of marketing. The bulk of our marketing will occur 3 wees PRIOR to O-Week and 3 weeks AFTER. O Week, also known as Orientation Week is the first week of University, across universities in Australia. It is a week of festivities, events and activities all to ensure that students are able to meet and foster a sense of community. As such, this aligns with what we are trying to achieve, and therefore, we aim to launch ‘Ludic’ in O Week 2019 (18th February 2019). Additionally, at the ANU, the newly redeveloped campus will open around that time, and so it will provide students an extra incentive to use the app, and discover what the new ANU has to offer (http://www.reunioncourt.com.au/).
As our customers vary, we have decided to target each type of customer using slightly different channels. This will allow us to cut through the noise, and ensure that customers in a particular segment do hear about us, and know how we can of value to them.
|Type of Student:||What we will do to increase awareness:|
- Promote and advertise in events specifically for new students at ANU (induction, first-year subject lectures, meet and greet events)
- Put enough resources in website to make it as user-friendly as possible
- Word of mouth
- Promotional offers at events
- O-week stalls
- ANUSA/ISD/Residential Hall info sessions
|Postgraduate International/Domestic (incl. PhD students)|
- Email from HDR
- Postgraduate Halls welcome packages
- Visit website for clarification about what we do
- Awareness on the alumni website
- Alumni email blast
- Ads on Linkedin Alumni groups
- Ads to Alumni chapters in Australia
- Ads or presence Alumni events – speaking engagements
- Ads in alumni events
- Social media - Have active platforms on Facebook, Instagram & Snapchat. We will try to get a Snapchat filter for our events.
- O Week Events - Partake in a speed-meeting event, and get participants to sign up to Ludic on the spot. These events might be conducted regularly throughout a semester to gain additional awareness.
- Have media releases - both in student media (Woroni, ANU Observer, ANU Reporter) and traditional media (Canberra Times, Canberra Weekly).
- The app was already featured in the ANU College of Business (ANU CBE) website and corresponding social media pages.
- The app has been featured in the iAwards 2018 website and social media pages, being a merit recipient in the ACT tertiary/undergraduate category and progressing to the judging round of the national awards.
This refers to ways in which our customers will keep engaged after downloading the app.
- Maintain up-to-date social pages i.e. Facebook, Instagram, Twitter, LinkedIn pages. This will also help us gather real time feedback, comments and complaints, analytics.
- Maintain Website - The website will be a landing page that explains our value proposition to customers. Again it will also allow us to gather feedback, comments and complaints.
- Regularly update the app, and its features, based on continuous user feedback. For example, we have updates for future implementation such as accessibility features for disabled users, rolling the app in different languages.
- Feature updates on the app - batched updates for app stores.
- Maintain a blog about activities in Canberra, examples include Floriade festival that users can go together. The blog will direct viewers to the “Canberra” based instagram pages as well.
- New discounts and events advertised on the app.
Key skills & Experience:
We are a team of 3 ANU Students and 1 Graduate, amongst us we have:
- Masaba Gofran - Commerce graduate from the ANU & studying CPA, with Accounting, Business and Economics skills.
- Brendan Tonson-Older - Current Medicine & PhD in Neuroscience student at the ANU, equipped with coding skills.
- Eric Pan - Current student with a background in IT and Actuarial studies, with business experience.
- Aditya Sinha - Current Advanced Computing Honours student at the ANU, with technical and soft skills.
As our team is comprised of the various domains of our users, it makes us very aware of our users and customer needs. We also have the right mix of skills with technical expertise (coding, website and app development) and business expertise (communication, marketing & accounting) to create and run the app and the business supporting it.
It also means we know who to talk to, and which channels of communication will be the most effective to ensure that our app delivers on its value proposition.
Previously, Ludic (awarded under the name ‘Eat With Me’) has received numerous awards. Some notables ones are:
- iAwards National Finalist & Merit Recipient 2018 - The Innovation awards by the Australian Information Industry Association (AIIA). This app was presented in the national finals in Melbourne. Previous winners of the iAwards include Google Maps & Atlassian.
- National Finalist at Falling Walls Lab 2017 - One of 25 finalists chosen across Australia, New Zealand, and Pacific Island Forum Nations to present app at the Falling Walls event in Canberra, held by the Australian Academy of Science.
- ANUSA Innovation Challenge 2016 - One of the winners in the ANUSA Innovation Challenge 2016, looking for innovative ventures with social impact.
Some assets we own are basic things such as computers and laptops - which ensure that we are able to work on this app.
Our network expand far and wide, and something we are continuing to work on and increase.
Some of the Networks that we have access to are:
- Pro Vice Chancellor of Student Experience - ANU
- Pro Vice Chancellor of Innovation - ANU
- ANUSA - Undergraduate Student Representatives at ANU
- PARSA - Postgraduate Student Representatives at the ANU
- Canberra Entrepreneurs (thank you CBRIN for that)
- ANU Halls of Residences
- International Student's Department at the ANU
- Matt Radcliffe & Sean Fenemore - Our official mentors for the iACT 2018 program, who were previous winners in iACT 2017 & also iAwards National Finalist 2018.
Progress for the Venture so far:
- We have settled on a new name, changing it from 'Eat With Me' to Ludic. This allows us to expand the initial vision from just lunch to include various activities within the app.
- Domain name
- Set up Social media pages
- Logo and colours
- Marketing Strategy plan in place
- Vision and Mission for the app
- We have applied for a grant of $5000 from the ANU (pending outcome)
- We have undertaken rigorous customer validation:
1. Completed ‘Problem Validation’, now we are at ‘Solution Validation’ i.e. which features of the app are the most valued by our users.
2. We have undertaken qualitative research in the form of detailed customer questions (interviewed 50 users)
3. Quantitative research comes in the form of surveying users (185 users)
- We are also in contact with app developers to get quotes on how much building this externally would cost us.
- We have gotten national validation in the form of the iAwards National Finalist & Falling Walls Lab National Finalist contenders.
- Developed a prototype which is a visual demonstration of the app.
- We have met with our first customer i.e. the institutions that will pay:
- We have pitched to both ANU Undergraduate (ANUSA) & Postgraduate Student Association (PARSA)
- We asked them about potential funding, and we have consulted with them.
- We have asked to be in their budget for 2019, and sent in a brief.
- We have met up with: ANUSA, PARSA, Pro-Vice Chancellor of Student Experience at the ANU, Burton & Garran (Hall of Residence)
- We have the following meetings set up for the Week of October 1st to 5th
1. Pro-Vice Chancellor of Innovation at ANU
2. Toad Hall
3. John’s XXIII College
4. Ursula Hall
5. Bruce Hall
6. UniLodge ANU
7. Access & Inclusion Services ANU
8. Pro-Vice Chancellor of Student Experience at the ANU
Potential collaborators and supporters
Potential collaborators and supporters
Anyone with a passion for the idea, trying to make ANU a more fun place or any one who cares about student experience on campus, please do get in touch with us at: firstname.lastname@example.org
Outlined below are some of the skills, experience, assets, materials or networks that we need to continue developing the venture.
- UX/UI Skills
- Cashflow skills
- Legal skills - to inform us how to protect IP, privacy and user security
- Start-up skills - how to navigate the start up system, what to focus on early stages of growth
- Experience in Event planning for our marketing ideas
- Launching a low-cost, big-impact marketing campaign
- Although we have valuable networks, these are all within the ANU.
- As we would like to target more universities around the Canberra region any networks outside of the ANU would be extremely valuable and in other universities e.g. UNSW ADFA, CIT, UC.
If this sounds like you or you would just like to have a chat, contact us via email: email@example.com
Our main costs consists of building the app for users and marketing and other additional activities such as app store fees, hosting and server costs. We have received quotations from various app developers based in Australia. App Boxer (Sydney) quoted $30,000, while another app developer (Canberra) quoted $60,000. These beta versions include cross platform apps. Part of the high costs is due to the messaging and live map components in the app, as explained by the app developers.
A rough summary of other set up costs are (please note, all costs are for a 12 month period):
- Application Development (Best Quote from App Boxer*): Total: $30,000
- Marketing (O Week Campaign & rest of the year): $5,059
- Technology Costs (app store fees, hosting, server): $1,504
- Enterprise Administration (Accountant, company registration, bank fees): $1,538
- Salaries will depend on the level of employees and wages in the form of share options.
Total Cost: $38,101
- Funding Tiers:
We have projected that to create an app on both platforms (Android & iOS) with appropriate marketing that we will need ~$38,000 which we can obtain from several sources. We are applying to the Extracurricular Enrichment Fund (SEEF) for $5,000 and to through ANUSA and PARSA for SSAF funds $10,000 from each. Given the average project funding receives 66% of their ask we can expect to raise ~18,000 from these sources and ask for an additional $20,000 from innovationACT. As none of these funds are guaranteed, the more funding we are provided with, the better quality we can create the app with more features requested by students and the better our advertising can be which is essential to gaining the minimum user base. A component of advertising will be advertisement in-kind from our partners such as the ANU student Associations (ANUSA & PARSA) and also the halls of residence.
Our tiers are as follows:
- Tier 1: $10,000 - Minimally functional app with minimal marketing. Significant revisions to add features and additional market growth in future years required.
- Tier 2: 15,000 - Moderately functional cross-platform app with moderate marketing with revisions to add features required in future
- Tier 3: $20,000 - Fully functional cross-platform app with appropriate impactful marketing.This would also allow us to carry out for example, weekly events to promote our app during the first semester of launch. This would also ensure that this app gets in the hands of the students who need it most.
Resources they are providing
Value they are receiving
Status of engagement
ANUSA - ANU Undergraduate Student Association
- Financial - We have asked for funding from ANUSA, as part of the SSAF Bid. We have asked between $10 to $20k.
- In-kind - marketing, promotions, mentioning us in booklets, social media, emails
- We help with two of the four primary objectives of ANUSA outlined in their constitution;
4(1) (a): “to promote the welfare of, and further the interests of, Undergraduate Students”
- (d): “to foster community, equity and diversity within the University”.
- Additionally, we are able to meet 5 out of the 19 SSAF Funding Requirements
Already pitched, in consultation
Similar to ANUSA, as they work jointly.
- We help with one of the two primary objectives of PARSA outlined in their constitution:
3(1) (a): “to promote the welfare and further the interests of Postgraduate Students”
- Additionally, we are able to meet 5 out of the 19 SSAF Funding Requirements
Already pitched, consultation
ANU International Student Department
- In-kind - marketing, promotions, mentioning us in booklets, social media, emails
- Main representative body for all international students, as such wants to promote welfare and interests of international student. We help with both objectives.
Meeting set up for the week starting October 2nd 2018.
Halls of Residences & UniLodge
- In-kind - marketing help. They are willing to market our app, and invite us to present the app to First Year students. They also proposed mentioning us in email blasts to all residents, social media pages, posters, and by helping us by putting a flier in O-Week Goodie Bags.
- Greater community building
Potential to improve student residents’ welfare.
Potential to improve student residents’ mental health.
- Already talked and met with Burton & Garran Hall, met with enthusiasm and positive reaction.
Meetings lined up with:
- Toad Hall
- John’s XXIII College
- Ursula Hall
- Bruce Hall
- UniLodge ANU
Pro-Vice Chancellor of Student Experience at the ANU - Richard Baker
- Indirect Financial - Indirectly, as he is the final allocator of the SSAF Funds.
Opening up networks and paths to other types of funding.
- We align and help with one of the portfolio’s key roles which is:
“Enhance the quality of the student experience”
- Setting up another meeting to discuss the app in more detail
Pro-Vice Chancellor of Innovation - Michael Cardew-Hall
- Opening up networks and paths to other types of funding.
- Director of Canberra Innovation Network
- Helping an ANU based start up to connect to vital connections and resources that are critical to our survival and growth.
- Had a meeting with previously
Another meeting to update on progress
Our Revenue Streams
Our users are students who will access the app for free and our customers are the paying institutions/associations which support students. Payment can be financial and/or in-kind (e.g. marketing help)
1. Revenue based on Subscription - this is what the universities/associations will be giving us, on an annual basis. This revenue stream is the most stable. We have asked for a large once-off transaction ($10-20,000 from the ANU student associations), and continuing top-up costs to cover expenses throughout the year.
2. Revenues based on advertisements - this is what local and e-commerce retailers pay to put ads on our app - this funding methods involves getting a 1-5% of every dollar sold at surrounding restaurants and bars. This would involve two or more students tagging the same location, and a discount code would pop up, and the restaurant putting through the discount.
3. Revenue based on ‘freemium model’ - After a large enough user base, we charge users based on paying for additional features - this would be potentially implemented much later. After initial surveying of students, they are willing to pay $5/month, but only if the features include guaranteed meetings or the like. However, they would prefer the app to be free as most social networking is free.