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Fish-friendly GPS Traps (A Revenue Modeling Strategy)

Fish-Friendly GPS Traps: Startup Overview

Our startup focuses on revolutionizing sustainable fishing through Fish-Friendly GPS Traps, a technology-driven solution aimed at reducing bycatch, minimizing environmental harm, and preventing ghost fishing.

Core Features:

GPS-Equipped Fish Traps: Precision location tracking for efficient retrieval.

Smart Light Technology: Attracts target species and aids species identification.

Connected Mobile App: Provides real-time data on trap location, catch insights, and maintenance reminders.

Revenue Modeling Strategy

The overarching goal is to revolutionize sustainable fishing by leveraging GPS precision. The strategy focuses on diverse revenue streams that cater to different customer needs and market opportunities.

Revenue Streams

1. Direct Sales

Selling the GPS traps directly to fishers and fishing companies.

This provides immediate revenue and establishes the product in the market.

2. Subscription Services

Offering a monthly subscription for GPS tracking and maintenance services.

This ensures recurring revenue while maintaining customer engagement.

3. Data Analytics & Insights

Selling anonymized data to research institutions, governments, and NGOs.

Focused on marine conservation, this adds a data-driven revenue opportunity.

4. Extended Warranties and Service Plans

Providing extended warranties or service contracts for an additional fee.

This caters to customers seeking long-term reliability and support.

5. Advertising Revenue

Promoting the product through online shopping platforms (e.g., Shopee, Lazada, Amazon) and social media (e.g., TikTok, Facebook).

Generating revenue from ads and partnerships with these platforms.

6. Partnership Revenue

Collaborating with environmental NGOs or regulatory agencies to distribute the traps at subsidized rates.

This positions the product as environmentally friendly and creates a market presence.

Summary of Deliverables

Clear and actionable revenue streams tailored to market segments.

Focus on recurring and diversified revenue opportunities.

Strategic partnerships for sustainability and market impact.

Emphasis on technology-driven solutions, including data insights and subscription models.

[saint1203]

TECHNOPRENEURSHIP BLOG 4

''Insights from the Virtual Meeting with Mr. Karl Fajardo: Exploring Revenue Models for Social and Non-Social Enterprises''

On November 11, 2024, Mr. Karl Fajardo, a successful entrepreneur, delivered an insightful lecture via Zoom on the topic "Revenue Model for Social and Non-Social Enterprises." The session, which provided a comprehensive overview of various revenue generation strategies, was particularly inspiring for our start-up, Fish-Friendly GPS Fish Traps.

Mr. Fajardo’s lecture not only clarified how businesses can sustain operations and grow but also presented actionable insights into selecting the right revenue model based on an enterprise’s mission and goals.

Revenue Models: The Blueprint for Success

Mr. Fajardo began by defining revenue models as financial blueprints that outline how businesses generate income. These models form the backbone of operational sustainability and growth, ensuring financial viability while fulfilling organizational missions.

Social Enterprises: Balance revenue generation with a focus on creating social or environmental impact.

Non-Social Enterprises: Primarily aim for profit without a specific social mission.

Revenue Models for Non-Social Enterprises

Mr. Fajardo categorized revenue strategies for non-social enterprises into traditional and innovative models:

Traditional Models

Direct Sales: Selling products directly to consumers, generating immediate cash flow but without long-term revenue stability.

Subscription: Offering recurring payment options for continuous access, ensuring financial predictability but requiring customer retention strategies.

Innovative Models

Freemium: Providing basic services for free with optional premium features for paying customers, encouraging initial user engagement.

Pay-as-you-go: Revenue determined by usage, offering flexibility for customers and scalability for the business.

Revenue Models in Social Enterprises

For social enterprises, Mr. Fajardo highlighted two primary models:

Grants and Donations: Funding sourced from philanthropies, governments, or impact investors to support the mission.

Sales of Mission-Oriented Products/Services: Generating income by selling products or services that directly contribute to social or environmental impact.

Key Takeaways for Fish-Friendly GPS Traps

Hybrid Approach: Combining subscription and pay-as-you-go models could diversify our revenue streams while ensuring accessibility for different types of customers.

Leveraging Social Impact: As a social enterprise, highlighting the environmental benefits of our traps can attract funding from grants and donations, supporting research and development.

Building Customer Relationships: Regardless of the chosen model, fostering trust and delivering consistent value will be crucial for customer retention and brand loyalty.

Conclusion

Mr. Fajardo’s lecture provided invaluable guidance on how social and non-social enterprises can leverage revenue models to sustain and grow their businesses. For Fish-Friendly GPS Traps, the insights gained will help us design a revenue strategy that not only supports our financial goals but also furthers our mission to promote sustainable fishing practices.

We look forward to implementing these lessons and exploring innovative ways to make a lasting impact on both the fishing industry and marine ecosystems.

NAME: BADE, SAINT J O.

SECTION: CEA_CE_4G

[saint1203]

TECHNOPRENEURSHIP BLOG 3

INTRODUCTION:

The Value Proposition Canvas and Business Model Canvas are essential tools in technopreneurship, particularly for startups. The Value Proposition Canvas helps businesses clearly define the value they offer to customers by aligning their products or services with the needs and desires of their target market. Meanwhile, the Business Model Canvas provides a comprehensive overview of the startup's operational structure, including key resources, partners, and revenue streams. Together, these tools are critical for ensuring that startups like those in the fishing industry, with innovative products like Fish-Friendly GPS Traps, effectively address market needs while building sustainable business models.

VALUE PROPOSITION AND BUSINESS MODEL CANVAS FOR FISH-FIENDLY GPS TRAPS:

The Value Proposition Canvas and Business Model Canvas for Fish-Friendly GPS Traps focus on solving the everyday challenges that Filipino fishermen face in their livelihood. This product is designed to be both simple and highly effective, making fishing easier and more efficient. It combines traditional fishing methods with modern technology and offers educational tools to help fishermen improve their skills. The product is also built with sustainability in mind, ensuring it helps protect the environment while giving fishermen real-time information, such as fish locations and weather updates, to guide their decisions.

NAME: BADE, SAINT J O.

SECTION: CEA_CE_4G

[saint1203]

TECHNOPRENEURSHIP BLOG 2

INTRODUCTION:

In my efforts to better understand the challenges faced by fishermen, I interviewed a local fisherman. This discussion, one of several individual interviews we conducted, provided crucial insights into his daily operations, the difficulties he encounters, and his expectations from new fishing technologies. Based on these interviews, our team at Techblazer created a detailed Value Proposition Canvas. This model breaks down the key Customer Jobs, Gains, and Pains, highlighting how our solution addresses these concerns to improve fishing efficiency and sustainability. The attached image illustrates the Value Proposition Canvas, mapping out how we can deliver real value to fishermen.

Interviewed: Manong Ramil

Age: 49 years old

Work: Fisherman, Vendor, Construction Woker

INTERVIEW QUESTIONS:

CUSTOMER JOBS

What tools or methods do you currently use to locate your fishing traps in the water? (Understanding current tools helps identify what gaps our solution can fill.)

How do you keep track of your traps while they are deployed?(This highlights tracking methods and potential pain points that need addressing.)

How important is it for you to know the type of fish entering your traps in real-time? (Assessing the importance of real-time data indicates potential demand for our product features.)

CUSTOMER PAINS

How often do you experience difficulties locating your fishing traps after deployment? (Frequent difficulties indicate a crucial area where our product could offer significant value.)

Have you ever lost a fishing trap at sea? How did that impact your work? (Understanding the consequences of lost traps emphasizes the risks involved in fishing operations.)

Do you face challenges with bycatch or accidentally catching non-target species? (Bycatch issues are critical for sustainability and can help inform product features that minimize this problem.)

CUSTOMER GAINS

How would it benefit you if you could always know the exact location of all your fishing traps? (This directly addresses the need for efficiency and accuracy, which are key selling points for our product.)

Would having real-time updates on your trap status improve your fishing efficiency? (This question assesses the value of real-time updates, aligning with our product's capabilities.)

How would improved technology for trap monitoring help you avoid losing traps and reduce environmental harm? (Highlighting the potential environmental benefits of our product adds an important dimension to its value proposition.)

THE VALUE PROPOSITION CANVAS (EXPLANATION)

The value proposition canvas depicted in the image is a framework that aligns customer needs (on the right side) with the products and services offered (on the left side), focusing on pain relievers and gain creators.

CIRCLE PART (Right Side)

1. Customer Jobs (Center right in the image)

These are the tasks or problems that the customer (fishermen) seeks to solve:

Locating and Retrieving Traps Efficiently: Fishermen need to quickly and precisely find their traps, saving time and fuel.

Maximizing Fish Catch While Minimizing Bycatch: Fishermen want to capture target species while reducing bycatch.

Monitoring Traps Remotely: Customers want to monitor trap status without needing to check them physically, saving trips.

Adapting to Environmental Conditions: Fishermen need to adjust their operations based on weather, currents, or fish movements.

Ensuring Compliance with Regulations: Fishers need to meet sustainability standards to avoid penalties.

Reducing Operating Costs: Fishermen aim to minimize fuel, labor, and time costs while increasing profits.

2. Gains (Upper right in the image)

These are the desired outcomes and benefits for customers:

Precise, Real-Time Trap Location: Fishers know exactly where their traps are at all times, even in rough conditions.

Increased Catch Efficiency: Using real-time data, traps can be placed in optimal locations to maximize catches.

Reduced Fuel and Labor Costs: With remote monitoring and real-time alerts, fewer trips are needed to check traps.

Improved Sustainability: Less bycatch, fewer lost traps, and eco-friendly materials contribute to sustainability.

Enhanced Safety: Remote monitoring reduces the need for night trips or navigating dangerous waters.

Better Trap Management: Knowing the status of traps at all times allows for better operational planning.

Compliance with Regulations: The traps meet sustainability regulations, reducing the risk of penalties.

Higher Profitability: By reducing costs and increasing catch efficiency, overall profitability improves.

3. Pains (Lower right in the image)

These are the negative experiences or challenges faced by customers:

Difficulty Locating Traps: Losing or misplacing traps wastes time and fuel.

Bycatch and Unintended Species: Catching non-target species causes delays, damages gear, and leads to environmental and regulatory issues.

Lost Traps: Misplaced traps can cause environmental harm and financial loss due to ghost fishing.

High Operational Costs: Fuel, maintenance, and time at sea add to the costs of fishing operations.

Weather and Sea Conditions: Bad weather can make trap retrieval difficult and dangerous.

Spoiled Catch: If traps are not checked in time, fish may spoil, leading to losses.

Lack of Real-Time Information: Without real-time data, fishermen may make inefficient decisions.

SQUARE PART (Left Side)

1. Products and Services

Fish-Friendly GPS Fish Traps: These traps are the core product, designed with features to minimize environmental harm while maximizing fishing efficiency.

GPS Tracking: Allows fishers to easily monitor and locate traps in real time, ensuring that traps aren't lost.

Selective Capture Mechanism: This feature ensures that only target species are caught, allowing smaller or unintended species to escape.

Eco-Friendly Materials: The traps are built with durable materials that minimize environmental damage and comply with regulations.

Real-Time Alerts: Fishers receive notifications when traps are full, which reduces unnecessary trips.

Mobile App Integration: Allows users to track multiple traps, monitor environmental data, and manage operations remotely.

2. Gain Creators (Upper left in the image)

These are the benefits that the product brings to customers:

Efficient Catch Monitoring: GPS tracking enables real-time monitoring of traps, reducing the time spent locating and retrieving them.

Eco-Friendly Compliance: Helps fishers meet environmental regulations by reducing bycatch (unintended species) and promoting sustainable fishing practices.

Increased Productivity: The combination of real-time alerts and remote monitoring increases efficiency, enabling fishers to optimize their time.

Cost Savings: Less time and fuel are spent locating traps, reducing overall operational costs.

Sustainability Benefits: These include better public perception and possible access to incentives tied to eco-friendly fishing practices.

3. Pain Relievers (Lower left in the image)

These address the challenges or "pains" that customers face:

Reduced Bycatch: The selective capture mechanism helps prevent the capture of non-target species, reducing regulatory issues and damage to marine life.

Minimized Environmental Impact: Eco-friendly materials and designs help minimize the environmental harm caused by traditional traps.

Lower Retrieval Costs: GPS tracking ensures that traps can be located easily, saving fuel and time.

Improved Compliance: The traps help fishers comply with regulations, reducing the risk of fines or shutdowns.

Avoid Trap Loss: GPS tracking helps locate lost or displaced traps, avoiding financial and environmental costs associated with ghost fishing.

Reduced Overfishing Concerns: The trap's selective mechanism ensures sustainable fishing by avoiding the capture of immature fish or non-target species.

Less Labor-Intensive Monitoring: Real-time alerts and tracking reduce the need for constant manual checks, saving time and labor.

INSIGHTS

The value proposition canvas highlights critical insights that support the fish-friendly GPS trap product:

Customer Jobs: Fishermen need to efficiently locate and retrieve traps, minimize bycatch, monitor traps remotely, and reduce operational costs. These jobs reflect the core problems fishermen face daily, emphasizing the need for tools that streamline their operations and ensure regulatory compliance.

Gains: Customers desire precise, real-time trap location data, increased catch efficiency, reduced fuel and labor costs, improved sustainability, and better overall trap management. These gains are directly aligned with the features of the fish-friendly GPS traps, such as GPS tracking and selective capture mechanisms.

Pains: Fishermen face significant challenges like difficulty locating traps, bycatch, high operational costs, and adverse weather conditions. The risk of losing traps also results in financial loss and environmental harm through ghost fishing, making these pains central to the development of this product.

PRODUCT VALIDATION

The fish-friendly GPS fish traps offer a targeted solution to the pains and needs of fishermen. The GPS tracking ensures accurate and efficient trap location, addressing the challenge of lost traps and reducing fuel and labor costs. The selective capture mechanism minimizes bycatch, which aligns with fishermen’s desire to maximize target species catch and comply with environmental regulations. Additionally, real-time alerts reduce unnecessary trips, increasing productivity and safety while lowering costs. The use of eco-friendly materials ensures that fishermen can meet sustainability standards, enhancing their reputation and avoiding penalties.

CONCLUSION

This validation confirms that the fish-friendly GPS traps directly address key pain points while creating valuable gains for fishermen. The product not only improves operational efficiency by cutting down on time and costs, but also aligns with growing environmental and regulatory concerns. Given the increasing focus on sustainability, compliance, and profitability, the product meets a clear market need and has high potential for adoption. Fishermen will benefit from better trap management, reduced bycatch, lower costs, and increased profitability, making the fish-friendly GPS traps a strong contender in the industry.

NAME: BADE, SAINT J O.

SECTION: CEA_CE_4G

[saint1203]

TECHNOPRENEURSHIP BLOG 1

INTRODUCTION:

In my quest to understand the challenges faced by fishermen and validate our new fishing product, I conducted an insightful interview with a local fisherman. This conversation shed light on his experiences, the realities of fishing, and how innovative solutions can address pressing issues in the aquaculture industry. Moreover, the attached images serve as proof of my interview on September 19, 2024, along with the Empathy Map detailing observations and insights.

Interviewed: Mr. Marlon Gahim

Age: 48 years old

Work: Fisherman

INTERVIEW QUESTIONS:

1. Are you comfortable using technology like smartphones or electronic devices in your daily life? Do you use any for work purposes?

(Komportable ka ba sa paggamit ug technology sama sa mga cellphone o electronic devices sa imong adlaw-adlaw nga kinabuhi? Ginagamit ba nimo kini sa trabaho?

2. Is there a difference between day and night fishing? Are there differences in the number or types of fish you catch depending on the time of day?

(Unsay kalainan sa pag-pangisda sa adlaw ug sa gabii? Na bay mga kalainan sa gidaghanon o klase sa isda nga imong nakuha depende sa oras?)

3. What techniques or tools do you rely on when fishing at night, especially to deal with low visibility?

(Unsang mga teknik o kagamitan nga gagamiton nimo kung mangisda ka og gabii, labi na og halosa wala nakay makita sa palibot sa kadagatan?)

4. Have you ever experienced difficulties keeping track of your fishing gear while out at sea for long hours or in remote locations?

(Nakahinomdom ka ba nga nakasinati ka og kalisud samtang kamulo ka og pangisda sa pagmonitor sa imong mga lambat samtang naa ka sa dagat sulod sa taas nga oras o sa mga layo nga lugar?)

EMPATHY MAP (EXPLANATION)

OBSERVATION:

1. Says: What He Says & How He Delivers It

At the beginning of the interview, the interviewee appeared shy and hesitant in his responses, likely due to feeling uneasy in the situation. However, once the interview transitioned into the local Bisaya language, which was more familiar and comfortable to him, his confidence grew significantly. His answers became more articulate, and he no longer hesitated or struggled to express his thoughts.

Initially, the interviewee's tone of voice reflected uncertainty and a lack of confidence, but over time, as he became more at ease with the setting and questions, he adopted a more willing and confident demeanor. This shift highlights how the language and tone of the interview helped him relax and communicate more openly.

2. Do: What He Does During the Interview

Non-verbal behavior during the interview revealed a similar transformation. At first, the interviewee maintained minimal eye contact and stood stiffly, showing signs of nervousness. As the interview progressed and the environment became more relaxed, his posture became less rigid, reflecting increased calmness and focus.

Throughout the conversation, the interviewee did not use hand gestures to emphasize points. Instead, he held a transparent cellophane, frequently alternating his gaze between the material and the interviewer. This behavior suggests that while the interviewee was engaged, he was also managing other tasks, in this case, selling captured fish, as the interview took place in a busy setting.

Regarding interactions, the interviewee actively listened, nodding and acknowledging the interviewer’s points. The use of the Bisaya language and the relatability of the questions encouraged this engagement, making him feel more comfortable and open to dialogue.

INSIGHT

3. Feeling: What He Feels When Answering Questions

Emotionally, the interviewee conveyed a sense of growing interest in the interview topics. He smiled occasionally, which indicated moments of comfort and enjoyment, especially when discussing relatable subjects. At other times, he appeared more serious, likely because he was reflecting deeply on certain questions or juggling his responsibilities.

In terms of emotional alignment, it initially seemed the interviewee felt intimidated by the formality of the situation, possibly due to my uniform. He may have assumed the questions were going to be difficult. However, once the interview’s casual tone was established, especially when reassured the questions were straightforward, the interviewee became more engaged and emotionally invested in the conversation.

4. Thinking: What You Think He Is Thinking While Responding

The interviewee's responses were a mix of surface-level and deeper reflections. In some instances, he offered brief, straightforward answers, indicating he may have felt the question didn't require much thought or that he wanted to keep his answers concise. At other times, he delved deeper into personal experiences, suggesting that some topics resonated more with him and prompted further reflection.

As for alignment with values, the interviewee initially seemed focused on sharing his personal experiences, which points to a strong sense of individual perspective. However, as he became more comfortable, there was a noticeable shift toward connecting these experiences to broader, more relevant contexts. This shift suggests that while personal gain was a focus, he eventually began considering the bigger picture.

PRODUCT VALIDATION: CONCLUSION:

The interview revealed several key insights that validate the need for our product:

Technology Comfort: The interviewee is comfortable using basic technology, such as smartphones, has Facebook account and watches Youtube; which suggests a readiness to adopt more advanced tools, especially if they are simple and useful for his fishing routines.

Catch Variability: He identified differences in fish catch between day and night, indicating a clear opportunity for a product that improves visibility, tracking, and fish attraction during night fishing.

Tracking Gear: His difficulty in keeping track of his gear, especially during long hours at sea, highlights the need for a solution that enhances the monitoring and retrieval of fishing equipment, potentially reducing losses.

Time Management: He mentioned challenges in keeping track of time while fishing, suggesting the potential for a product that helps manage time efficiently while out at sea.

CONCLUSION:

The interview provided valuable insights that validate the need for a product tailored to fishermen's specific challenges. The interviewee's comfort with basic technology demonstrates an openness to more advanced solutions. His experiences with variability in catch rates, particularly at night, highlight the need for tools that improve visibility and tracking in low-light conditions. Additionally, difficulties in monitoring and retrieving gear point to a strong demand for better equipment management systems. Overall, the interview reinforces the potential for a product that not only enhances fishing efficiency but also supports sustainable practices, ensuring it meets both practical and environmental needs.