Running head: ENTREPRENEURSHIP AND INNOVATIONEntrepreneurship and InnovationStudent’s NameCourse Code
1ENTREPRENEURSHIP AND INNOVATIONThe first company selected for assessment is Mastery Science:It is an education provider company for the children. They tend to provide informationabout everything which they want to know(Mastery Science 2017).Mastery Sciencecollects evidence of every scientific innovation and makes it available to children so thatcan answer their queries about the subject. Company has procured $2 million till June2017(Mastery Science 2017).Market opportunity of Mastery Science is enormous as there are innumerable studentsand children who are pursuing education in science stream(Mastery Science 2017). Allthe high schools and colleges have significant number of students who can becomepotential clients for Mastery Science. It has enormous opportunity for business aseducation is perpetual.Students will get maximum help from the portal of MasteryScience who will communicate with their peers to use this website. This will createanother market opportunity for Mastery Science.Mastery Science has a target market of students all over the globe. Every studentpursuing science stream in any part of the world comes in the ambit of target market ofmastery science(Mastery Science 2017). Latest scientific knowledge is the requirement ofevery science student hence its market is huge.Research scholars and scientists workingin research institutes tend to search factual information about new discoveries in the fieldof science. Mastery Science can target them through seminars and advertisements. There is always a requirement for a reliable source of scientific knowledge. Articles andinformation available on internet is not always authentic especially in the case ofscience(Mastery Science 2017). There are many theories whose validity is not confirmed.This is why students will subscribe the services of Mastery Science. In the field ofscience factual data and authentic information is everything. Mastery Science may keepchennels and services about the details of experiments and scientific discoveries. Subscription of services and products are charged by the students.Each product andservice has a price and a period of expiration(Mastery Science 2017). Students who havesubscribed the course, material, notes, lectures and video lectures pay via onlinetransaction to gain full access of the information. This is how Mastery Science will makemoney.
2ENTREPRENEURSHIP AND INNOVATIONSecond company selected for assessment is Tpaga:It is a mobile wallet company which provides payment solutions on smartphones in theLatin American Companies (Tpaga 2017). It has the advantage of the market as it is thefirst startup of payment solutions for unbanked citizens of Latin America.It has earned$2.25 million in three rounds (Tpaga 2017).Since, it is the whale in the mobile wallet market in Latin America it has enormousopportunity for business. Being the first startup company to provide mobile walletservices even to the unbanked consumers gives a lot of leverage as there is a hugenumber of people who are unbanked in Latin America (Tpaga 2017).Tpaga can create itsown market opportunities by offering its users some promotional codes and offers in thebeginning. This will attract many consumers to use this application.People in Latin America are comparatively poor than citizens of the West. They knowless about the new technology of mobile wallets and mobile banking (Tpaga 2017).Targeting those citizens and educating them about this new system will create a newmarket all for Tpaga itself. Youth of Latin America is the biggest target market Tpagacan exploit. Young people are more attracted towards gadgets and new services. They arekeen on learning and using new technology which can make their work easier and alsolooks cool on their part. Tpaga complies with all their psychological needs which canharness a great untapped market. As per the changing trend of the payment system across the world people will need tosubscribe the services of Tpaga as it makes the payment system much easier and securedthan other systems of payment (Tpaga 2017). This will make people use Tpaga mostfrequently to make payments.Tpaga is a mobile wallet company and gets commission for each transition made by itsusers. Any form of payment or transfer of money from one person to another holds acommission of certain amount which is received by Tpaga (Tpaga 2017). If the numberof users increases then Tpaga will make huge money. Advertisement on its app is also agreat source of revenue which Tpaga can explore and earn. Popular apps tend to haveadvertisements on their user interface for which they get paid by the endorsing company.
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