Venture Forum

Favorite Companies:
1.Freight Farms

2.IAS

3.Bounce Imaging.

My favorite companies are the three companies listed above. I chose them to be my favorite because of their innovative ideas, clear presentations, and their smart business plans. The first company, freight farms, introduced their product as a way to do farming outside of the farmland. With their technology, people are able to produce food inside cities and basically everywhere with a freight box. Their presentation stated their advantages clearly and have strong data to show that their ideas work. As for IAS, it is a company which has innovative remote control system for irrigation system for farmers. It detected a real-world problem of water irrigation in the winter, and solved the problem with its products. The data it shows seems to mean a great future for this company, given the large number of farmers that need this product. It also has succeed in opening the market. My last favorite company is bounce imaging. It builds a product that gives your panoramic view of a place through throwing a ball inside that place. The ball will then send the pictures. I like this great idea. It could be very useful for fire fighters and soldiers in the front line.

Key Entrepreneurship points:
1.Your product should solve an existing problem and that's how find your first market.

2.Your product should has a market potential for more than the existing problem. This is so that you can stay in the competition.

3.Developing appropriate technology is critical for the success of your company. without  a robust product, your company can easily fail.

4.You should not forget competitors who may be doing the same thing in their garage.

5.You should not forget to talk to your customers and ask what they think of your product.

6.Sometimes a good idea may not work in the real world because of financial or other reasons.