Safety Footpath: Entrepreneurial Business Plan and Product Development

This project report, titled "Safety Footpath," presents an entrepreneurial venture focused on the development and commercialization of disinfection mats in response to the COVID-19 pandemic. The report provides an executive summary, outlines the business opportunity, and proposes a solution involving the creation of disinfection mats. It delves into the new product development (NPD) process, detailing how ideas are generated, products are tested, and approvals are obtained. The report also explores various funding sources, including capital, commercial loans, venture capital, and government grants, evaluating their advantages and disadvantages. Furthermore, it examines intellectual property tools such as trademarks and trade secrets to protect the product. The report also identifies potential barriers to the business, including competition and customer bargaining power. The conclusion emphasizes the importance of innovation, strategic tools, and market analysis for launching a successful entrepreneurial venture. The project aims to capitalize on market trends, overcome barriers, and secure suitable funding for the new product development.