Drivably: Self-Driving Car Startup Business Plan with Biometric Tech

This report outlines the business plan for Drivably, a startup aiming to provide self-driving cars with biometric technology. It includes an executive summary, introduction to the innovative product, and an analysis of the industry profile, business model, and point of differentiation. The report addresses the challenges, identifies prospective customers, and proposes a brief marketing plan. It also covers market positioning, competitor analysis, sources of funding, and intellectual property considerations. The company's innovative approach to the automotive industry, focusing on safety and convenience through advanced technology, is a key highlight. The plan also provides a detailed overview of the company's business model which focuses on innovation and customer needs. The report also includes sources of funding like Prince Trust, Bank loans, Government support, Friends and Family and Angel Investors. The analysis concludes with a discussion of the company's strengths, weaknesses, opportunities, and threats, providing a comprehensive overview of Drivably's strategic approach to entering and succeeding in the automotive market.

Innovation and
Entrepreneurship

Executive summary
This report is based upon the new company which is known as Drivably which provide
self driving car with the biometric technology as it help for the safety of the people. Hence it is
essential for the company to have to have proper business model as for the survival in this
competitive world.

Table of Contents
Executive summary..........................................................................................................................2
INTRODUCTION...........................................................................................................................4
Start-up business idea (product/ service)....................................................................................4
Industry profile: ..........................................................................................................................5
The business model: ...................................................................................................................5
Point of differentiation:...............................................................................................................6
Challenges of business idea:.......................................................................................................6
Prospective customers:................................................................................................................7
Brief marketing plan:..................................................................................................................7
Positioning in the marketplace:...................................................................................................7
Competitors analysis:..................................................................................................................8
Source of funding:.......................................................................................................................8
Intellectual property:.................................................................................................................10
Appendix:..................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is process of translating an idea and invention into goods and services which
help in creating the value for the company and customer will pay for the services (Campbell
2019). Entrepreneurship is the process of designing , launching and running a new business.
Entrepreneurship has been described as the capacity and willingness to develop, organize and
manage a business venture along with any of its risks to make a profit. This report is based upon
the new start-up company known as Drivably. There is a new business plan along with the
business model which help firm to achieve the target. Along with this there are different
challenges face by the company while launching new product. Beside this competitors analysis
has been done by the organisation for reducing the risk of failure in the future.
Start-up business idea (product/ service)
The start up business idea is providing self driving car to the consumers with the
biometric technology for the safety of the consumers. The company name is Drivably which
assist the customer with the new technology as there are more accidents occurs due to driving.
So company came up with the idea of self driving technology as this car operates with the
advance artificial intelligence which understand the customers need in well define manner. The
system of this car runs with the help of navigation. The services provided by the company is
very effective as it also provide home assistance and 24/7 customer care for solving the issues
and questions of the company.
Industry profile:
It has been analysed with the proper research done in the market that there is huge
demand present in the market which help the company to provide self driving cars for the
customer. As customers have become more consciousness and busy and this technology will
provide them safety and time as they can perform the activities while driving the car. The car
industry is growing more day by day as middle class income is increasing rapidly. The consumer
are will to pay more on the new technology.
As per market statistics it has been define that the global car sales in the current years is
around 86 millions. There are different company but the product offer by the Drivably is unique
and different. The organisation is also including biometric system and for safety of the children
and youngster. According to the market survey there has been rise in the global demand of self

driving car and it also consider as the future of driving. There is huge market in the UK, America
and Europe as cars have become the basis necessity for taking people from once place to another.
The business model:
The automotive industry are is becoming more advance with the help of technology and
revolution trends . The business model is the process through which company make all the
decision and plans which help in them to grow and expand the business in a well define manner.
The business model for the company like Drivably the business model is totally based upon the
innovation as no one is providing the self technology in the car. As the company is indulge in
any middle man and also providing online platform for offering and purchasing the cars.
Along with this Drivably company hire different manufacturer for the parts made by
various company which help the organisation to save time as well as money which leads in
timely delivery of the car. Beside this company will produce on the customer demand and which
help in company to provide better services to the consumers. This business model will help
company to save time and focus on the buyers needs and wants and try to offer better quality
product . This also assist in building brand image as well goodwill in the market for the start-up
company like Drivably .
Point of differentiation:
Differentiation effect is very much important for an organisation to gain profitability as
well as sustainability into the marketplace. In context of Drivably which is an new start up in the
marketplace that aimed to bring Self driving and Bio metric cars in the marketplace that are
different from the traditional cars in which users requires to remember complex passwords and
have to possess the authentication or key fobs that create difficulty to handle it in proper manner.
The bio metric services in care also enables to vehicle access, payment and additional features
that provide one of best customer experience should be underpinned with technology that
decentralize the biometric. On other hand self driving cars reduce the fuel consumption and
carbon emission and it also saves from accidents that is one of major factor to aimed to bring into
the marketplace. It is one of the most innovative kind of business idea that originated after
accessing the needs and wants of consumers and give some delighted experiences to them.

Challenges of business idea:
The start up named as Drivably aimed to launch the biometric and self driving cars in the
marketplace that are innovative in nature (Cécora 2019). The major challenges in front of
launcher of new idea that it is immutable in nature that characteristics of the prints do not change
over time which create problems to people in circumstance of lock of the system. The another
major concern is individuality the imprint which unique from the individual to individual which
hinders self interest. While aimed to launch new cars in the market that are innovative and rare in
nature that requires lots of infrastructure that are costly in nature. The advent of Brexit in the
economy as per the study the automotive industry break away that ultimately enhance the cost of
vehicles manufacturers more than the 2.8 million in sales in the upcoming two year (How Brexit
could affect the auto mobile industry, 2019). It has predicted that drop of more than 2,00,000
vehicles in the worldwide alone that are effect of Brexit alone.
Prospective customers:
For an organisation it is very much potential to gather important knowledge and
information before aimed to launch new cars in Biometric and auto drive cars in the marketplace.
With the help of research they gather important knowledge about consumer taste and preferences
so that they can gain desirable outcomes. In context of Drivably their potential consumers are
people who afford expensive cars and loved technological advancement. The people who
believes in Pomp and show and for them security is major concern so people prefer to bought
respective kinds of cars. So their major consumer base are youngsters that also prefer to buy
innovative products to remain always ahead.
Brief marketing plan:
Marketing plan is an brief of the overall marketing plan which outlines the advertisement
strategy which an organisation implement to lead and gain potential outcomes.
Positioning in the marketplace:
Data and statistics shows that Biometric automotive has valued at 138 million dollar in
year 2019 and projected to grow of over 17% by 303 million dollar by 2024. the major growth is
due to the rising demand of respective cars as it provide safety and security to world wide. The
market base and positioned consumers are technology investors, research audience and
consulting companies, government and financial institutions.

Strength Weaknesses
The major strength of respective innovation
that there are idea is very much innovative in
nature and people gradually aware about the
safety concerns and enchanted to buy cars.
The major weaknesses that they are new in
market and they not so much experience to
deal with respective marketplace.
Opportunities Threats
The major opportunities in front of them that
they after establishing in the market place of
UK can enlarge business opportunities in the
other market place as it is vast field to gain
profitability.
The fierce factor in front of them that large no.
of competitors already existed in the
marketplace with great brand loyalty so it
proved hazardous for them to beat against
them.
Competitors analysis:
Before aimed to launch new products and services into the marketplace it is very much
essential for Drivably to collect proper knowledge about competitors. The major competitors of
Drivably that are Aston martin, Bentley, Jaguar, Land rover, Lotus, McLaren, Mini, Nissan UK
and Rolls Royce many more. In context of Jaguar their strategy of marketing that they focus on
the its heritage, performance and giving long lasting experiences to consumers and their market
segment are the upper class income group and people in age group of 30 to 50 years. They focus
on raising the living standard of people by bring changes in their luxury ranges of cars. They
majorly deals in whole world by premier luxury sports saloon and sports car marques. So there
target market and strategies are totally different but it is very much potential to gather important
information and preferences of consumers so that Drivably can add relevant features on specified
time duration to remain relevant in the marketplace.
Source of funding:
The source of funding places an important role in providing the push for the new start-up
company like Drivably . As it is the most important aspect for the company to have proper
funding for improving as well as expanding the business for the company. Funding is the process
of taking the money from the different venture capital and other available sources present in the

market. Here are some sources from which the company can take sources are explained in detail
below:
The prince Trust: The Prince trust charity in the United Kingdom founded in 1976
by Charles, Prince of Wales to help vulnerable young people get their lives on track. It supports
11 to 30 year people who are unemployed and those struggling to gets funds for fulfilling their
dreams. In the context of the Drivably the company can approach this prince trust for funding as
they provide assistance to the people who are in the need and wants to start their new business.
Bank loan: This is known as one of the most popular method for the company of getting
funds and banks provide loan on the very minimum interest. The process of availing the funds
from the banks are easy as there is less paperwork required which save time for the organisation
as well for the banks. For the company like Drivably it is the bank can be the option for the
company the as they have various scheme for choosing the funds with the various option.
Government support: The government support is important for any start up present in
the market. As nowadays government of the state and country provide better funds the respective
clients. Along with this it help in providing various kind of support the start up company like
Drivably as the government of UK is very supportive and they also procedure for offering the
services of funding effectively.
Friends and family: This is the most widely use method of funding avail by the
company as they help in providing easy money (Guo 2019). As this kind funding does not
require any kinds of paper work and easy loan can be available on the basis of trust and mutual
intellectual.
Angel investors: An angel investor (also known as a private investor, seed investor or
angel funder) is a high net worth individual who provides financial backing for small start ups
and entrepreneurship typically in exchange for ownership equity in the company. Often, angel
investors are found among an entrepreneur's family as well as for friends. For the company like
Drivably it is important to have angel investors as they provide better funding services from any
other company.
Intellectual property:
This are the right which are include patents, copyright, industrial design rights,
trademarks, works variety rights, trade dress, geographic point, and in some jurisdictions as well
as trade secrets. For the company like Drivably it is essential for the company to have

intellectual property rights for their new technology as they are using new technology for
offering the new product in the market.
Patent: Patent is the property right which provide authority to the company to secure the
product or technology for copying by someone else. Hence for the company like Drivably it is
essential to have patent for reducing the theft of copying and cheating.
Copyright: This is the factor which prevent the company from using the similar
technology by other company. So in the context of Drivably the firm must have proper
copyright which help them to make secure in doing business.
Appendix:
CONCLUSION
From the above mentioned report it has been concluded that innovation is key factor for
growth and expansion. Along with this there is different business model which are useful in
Illustration 1: Business model 2019\

providing the plan effectively. Hence there is important to select the proper source of the funding
which help the company for growth and expansion.

REFERENCES
Books and Journals
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focused technology transfer policies on regional innovation and entrepreneurship. The
Journal of Technology Transfer, pp.1-25.
Guo, W., 2019. The Predicament and Outlet of the Practice Education of Innovation and
Entrepreneurship in Local Colleges.
Lounsbury, M., Cornelissen, J., Granqvist, N. and Grodal, S., 2019. Culture, innovation and
entrepreneurship. Innovation, 21(1), pp.1-12.
Nambisan, S., Wright, M. and Feldman, M., 2019. The digital transformation of innovation and
entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8),
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Pyka, A., Kudic, M. and Müller, M., 2019. Systemic interventions in regional innovation
systems: entrepreneurship, knowledge accumulation and regional innovation. Regional
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Roberts, E.B., Murray, F. and Kim, J.D., 2019. Entrepreneurship and Innovation at MIT:
Continuing Global Growth and Impact—An Updated Report. Foundations and Trends®
in Entrepreneurship, 15(1), pp.1-55.
Schneider, M., 2019. Taxation, Innovation, and Entrepreneurship. The Economic
journal, 129(620), pp.1731-1781.
Zu, L., 2020. Fostering Social Innovation and Youth Entrepreneurship for the Achievement of the
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Online
How Brexit could affect the auto mobile industry, 2019. [online]. Available through.
<https://www.cebos.com/blog/how-brexit-could-affect-the-automobile-industry/>.