Audience: Who have you identified as your customer/recipient groups and do these groups value your solution for different reasons? How do you engage different customer/recipient groups to deliver your solution?
Our first target customer is packaging industries as they use a great amount plastic. Currently they are using traditional plastic though it is harmful and as there is no alternative of plastic is available in the market. We have already talked with many firms and they told they are searching for an inexpensive alternative of plastic. Our other target customers are-
Food & Beverage firms,
Household Appliances Manufacturing firms,
Health & Beauty Care industries and so on.
Scaling the solution: How would the prize money and publicity help you to achieve your objectives over the next two years?
Like a source funding, the Award will enable us to start this project by spending for start-up cost and spending on R&D of the project.
In case of publicity, the award will assist us to commercialize our Bio-Plastic and attract both local as well as foreign market and plastic based firms to test our plastic as an alternative of traditional plastic. The market will grow to US$ 2 billion by 2015 and US$ 4 billion by 2020. Plastic industries forecast an increasing plastic goods consumption of average 20% per year as an implication if no solution is found. With massive publicity, our Bio-PLastic will attract the market with its novelty and practicality.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered
Both of us (Fayaz & Faysal) have won "Best Entrepreneurial Idea" award in the entrepreneurship fair of Eastern University for our jute based products idea "Golden Fiber". This achievement later pioneered us to start our "Golden Fiber" in real. I am also the co-founder of Bdenvironment (First environmental portal of Bangladesh).
Are you are eligible to attend the Accelerator event in Cambridge and subsequent events in London, UK in January, 2015?