Economic

"Describe how you are going to make money or have some other kind of measurable impact."

Financial Prospects:

Timeline: Where we are now and when we expect to monetize

• At the moment of this message the projects current status is still in the early development stage and there has been no effort made to monetize the platform. However, due to the nature of the project we will be looking at two components in to measure the impact/success of our application. The two metrics used for evaluating the impact of our application will be user participation and financial gain the application will generate.

• By user participation, we are implying the number of users who have registered on our platform. While there is no direct price attached to having more active users, it is a great metric for measuring the impact of our application and the spread it has reached in the community. Which can later be used as leverage for monetary gain.

• Regarding financial gain, while not our main concern for the moment, we expect to find endorsements and sponsors from companies who could benefit from our application. We will obviously be measuring the amount of capital that can be gained from our service.

Number of users:

• The principal metric used for measuring the impact we have with our application will be user participation. We equate having a strong numbers of accounts created as a symbol of success. Regarding a roadmap, we will focus on three main releases as milestones for assessing user participation. The first release will be the Aplha release, which is the period where we release to our friends and their trusted friends. At that moment in time, we aim at having at least 25 accounts created. The forecasted date for Alpha release is January 26th, 2025. The second milestone will be Beta release where we will expand the radius and deepen the reach of our application to classmates and fellow concordians. Our target number of created accounts at that time is 75. Obtaining this threshold would be a sign of positive acceptance of the product. At this point, more emphasis will be put on reaching out to school clubs and organizations in hopes of them wanting to use the application for hosting some of their upcoming events.This would increase the popularity of the application while keeping in local to the university. The tentative date for this release is March 8th, 2025. The final deployment of the website also known as full release will then hold no boundaries and will be ready for full use having no limits on users. The target amount of users at this moment is 150. Anything north of 150 accounts created would be considered a success in terms of having an impact or our community. To accomplish this goal we will promote our application to local business owners, public locations with the help of QR codes having access to our application as well as word of mouth.

Monetary plans:

• Although we don't have a specific target amount we would like to generate we firmly believe that generating income is an extremely viable option. To accomplish this, we believe we can get participation from local companies and stores who could benefit from having their ads on our platform and to promote their stores to draw traffic. This approach to could definitely generate small amounts of income for the platform. Down the road, we would also aim to include a membership program where users could get special benefits as paying members and offering a similar model to businesses.

dispersement techniques:

As mentioned previously, the following techniques will be used as our main method of gaining user interaction

• Cold calling/emails to groups/organizations, social media and local influencers.
• QR code drops in public locations (library, parks, sport facilities, etc)
• Peers and friends for beta phases and early development