24A – Venture Concept No. 1

Interactive Tech

Opportunity.
Raised as a first-generation in the United States, I grew up with modern facilities and technology. From time to time, I would visit my grandparents during breaks of the school year, Occasionally, I am requested to help them with using a computer to complete certain tasks such as paying bills. Thus, this led to a potential opportunity I have identified. I believe that there are a group of people, most likely seniors and immigrants, who cannot use technology adequately. Technology, especially in this present time is being developed at an extremely fast pace. People who lacked technological knowledge are not able to catch up as quickly and lose interest in learning. Thus, this leads to an unmet need for knowledge. Some are currently meeting these unmet needs by asking other friends or relatives to complete their tasks for them. Some are requesting alternative methods or accommodations in the absence of computers. I identified this opportunity to be of a large scale because this need is knowledge oriented. Some many foreign immigrants and seniors are able to benefit from learning technology after receiving such knowledge. Despite the opportunity being large, the window is not long as newer generations tend to already possess an adequate understanding of using technology.

Innovation.
In response to this opportunity, I propose a teaching service to people (mainly seniors and foreign-language speakers) who want to become more comfortable with using technology. This service would focus on in-person tutoring due to the high amount of troubleshooting that arises when learning technology. Since it is in-person, the tutors will most likely be teaching in the residency of their students. This makes sense as tutors aim to teach their students how to use the technology they (the students) own to better complete tasks. Because transportation is required, pricing will be negotiable from different tutors depending on travel distance. However, a general price range would be $30-50 depending on how the tutor values his/her time and distance.

Venture Concept.
I do recognize that there are public and online resources to help one learn about technology. However, not everyone can learn from a one-way delivery. This is similar in how some high school and college students are willing to pay for live tutoring for a test when they can instead study using online resources. The same can be applied to this opportunity. Some people cannot learn from just lectures, but instead, need the interaction to better understand some material. Thus, I believe that this service is unique in how it emphasizes in-person tutoring. I may partner with open online tutoring platforms so that younger generations can link potential customers to this service. I think the main way to identify these customers is for younger relatives or friends to see this problem themselves (in their relatives or friends) and seek out this service. Since tutoring is an on-going basis, the students can choose to have a set schedule or improper appointments.

The Best Resource.
I believe the most important resource I have is the high school/college student tutor base. As students, we understand what methods make it easy to learn new material and how to teach harder materials. Students are also willing to pick up experience regarding teaching others for developing their professional careers. Thus, this service makes it attractive for students to take part in along with the payments they receive.

Next Venture.
Since this opportunity is short-lived as I mentioned earlier, I think my next venture will deal with financial illiteracy among foreigners, especially immigrants. Many immigrants migrate into the U.S from a financially weaker country. Thus, the did not have access to some financial knowledge and are not familiar with financial programs that may benefit them. I am thinking of teaching financial literacy to those who lack this area.

The Future.
After launching this business, I am mainly looking to receiving the experience of helping others. Although there is payment involved, the experience of knowing how to teach o and the satisfaction of improving people's lives is mainly the purpose of this business. I believe that this opportunity is a good way for one to develop his or her professional communication skills along with teaching. It also provides a sense of goodwill to the tutors who take part in this venture.