Team iDO – First Place
Ngoc Nguyen, Elizabeth MacKellar, Erlis Kllogyri, Jacob Fohtung, Similoluwa Adejumo, Emmanuel Adegboye
Class 2, MIT Global Entrepreneurship Bootcamp Demo Day
August 28, 2015
About the program
The MIT Global Entrepreneurship Bootcamp is an intensive, week-long new ventures leadership program that gives bootcampers a taste of drinking from the firehose that all MIT students experience. It is a nexus connecting entrepreneurs from around the world to the entrepreneurship and innovation eco-system surrounding the Massachusetts Institute of Technology.
https://bootcamp.mit.edu/entrepreneurship
2. Pia’s Profile
Likes to exercise and stay fit
27 Years Old
Earns $75K/Year
Research Associate
Doesn’t know what she wants
Likes Kale Chips
Weddings require a
lot of decisions and
nuances that are
overwhelming
She is limited by
income and time
Overwhelmed with big decisions
She wants a wedding
that is just for her
3. BOOK
1. Bride answers 10 questions or less on IDO app
2. Our AI algorithms analyze
client’s background information
3. System generates top choices
and optimal schedules
4. One click books bride across all vendors
5. Bride’s Wedding is Hassle-free and organized
Sign up with
Facebook
Twitter
Pinterest
Sign up with
Facebook
Twitter
Pinterest
Q 10.What is your idea of the
perfect wedding?
PLAN
SURPRISE
ME
I want a classical wedding in April, on
the beach or at a winery, for one
hundred people. White flowers only, I
really like blue, white colours…
Planning…
Plan 1
Plan 2
Hotel
The Marriot hotel
in Hawaii is one
of the best hotels,
especially in the…
Venue
This one of the
best churches in
the area for large
venues …
Dress
BOOK PLAN 1
Davi Craig is one
of the best and
most beloved
wedding de…
Solution
4. Brides are willing to pay to have the perfect day
2.2 MILLION
Weddings in the USA
1.6 MILLION
DIY Planning
320k
Fear
planning
Initial LTV = $240
$76.8 Million TAM
She likes to talk to her friends about great tech products
Market Opportunity
Hasn’t been thinking about her wedding
Buys the same things as other DIY brides
Wishes her husband would get more involved
5. Value
High
Low
Mother Wedding Planner
Convenience High
High
AdvantageThe
Low
Value Proposition: Planning time cut from
8 months to 3 minutes; saves on endless hours
of research; reduce stress; increasing savings
6. Go to the Market Strategy
• App promotions
• Upcoming major
events ( honeymoon,
baby shower)
Product Strategy Channel Strategy
• TV
• websites
• wedding magazines
• Vendors
Marketing
• Website PR
• Social Media
• Google Adwords
Customer Experience
• Influencers
• Champions
• Techcrunch
• Blogs
Timeline Execution
OnlineMarketing
Pilotschedule
PilotCustomers
Rolloutpilot
Selectcity
M1 M2 M3 M6 M10 M12
Vendoroutreach
7. Product Roadmap
7
modeling
Test Algorithms
Test model
Integrate Algorithm
Achieve Prototype Development for AI tool
Test prototype with sp: target success rate 50%
Test prototype w/ sp: target success rate 80%
Design User Experience
Rollout
M1
M2
M3
M4
M6
M7
M8
M10
M9
Commission of vendors
Bugfixes
M13
M15
8. Financials
• Assumptions:
– -$2.6M negative cash flow in Year 0 and -1.8M in Year 1
– 5% vendor commission on $30k average wedding starting in Year 2
– Aggressive outreach to major US cities in Year 2 results in 200% growth
– Beachhead Market is constantly turning over with new brides each year.
9. Founding Team
Erlis Kllogjri
Jacob Fohtung Emmanuel AdegboyeSimiloluwa Adejumo
Ngoc Nguyen Elizabeth MacKellar
Behavioral Scientist
& Predictive Analyst
CTO
AI Guru
Behavioral Scientist
Designer
AI Specialist
Project Manager
Business Strategist
Event Specialist
CEO
Finance and Biz Leader