Team 33

Target market

fitness enthusiasts that are transitioning to a more vegetarian diet. The pandemic has created an influx of users trying out new workout plans to adopt a more healthier lifestyle, but there lacks a program that facilitates that slow transition. We developed myFridge to help users find relevant vegetarian/ vegan recipes using the foods they’ve already bought, via a quick and easy method of listing their groceries. Users snap a picture of their receipt using the app, which identifies products that match most of the ingredients of a listed recipe. Users can rate the recipe once they created them and can search recipes they want to try out when they’re interested in buying recommended products.

FEASIBILITY

Execution Plan

Market Research + Development will take 1 month, which consists of us collecting insight from the target market on their fitness needs. This will be done via collecting survey feedback in our neighbouring cities to gauge interest in potential users wanting to switch to a meat-reduced diet. We will then recruit 40+ beta-testers to try out the MVP (finalized Figma mock-up) to give us insight into how users interact with the app, and what features are hard to understand. After improving the design and functionality with the feedback, the app is to be developed within the following weeks, and gone through a second round of beta-testers for feedback. We’ll then work on attracting capital by submitting applications for kickstarter funds and raise seed funding via incubator programs (building the applications from the start). Some include: PROPEL Seed your Start-Up, Environmental Action Incubator, AAGEF, and Y-incubator. We can use these incubator programs to build relationships with angel investors who can guide us on building effective partnerships with grocery stores, along with providing credibility. The risks include not gaining traction as quickly as estimated, since the beta-testers will ensure our product fit’s the evolving target market needs. This is worth prolonging, for our team to better understand how enthusiastic fitness learners will address their goals using our app. The second risk is of large fitness-focussed companies adapting their app to be more recipe-focussed. Our app has the competitive advantage of partnering directly with grocery stores to create a smooth and easy user-experience. This also updates the food inventory list of items you’ve bought, so that it’s continuously evaluating what’s in your fridge, rather than just suggesting recipes that you need to buy new expensive ingredients for.

Financial

https://drive.google.com/file/d/14b_5eIlCAYuypanDyIKpNLn5yXKshoJQ/view Projection from under 1 year + over 1 year Expenses, revenue Business model, Raise capital Our business model reflects the Freemium app type, where users can download it for free from the App store and pay for an optional premium subscription to get added benefits. The free version will run ads (for ad revenue), which follow the CPM model, after every 3 minutes of usage. Expenses will include app development

Market Strategy

Our product will initially target users in London, Waterloo, and Toronto, as these are the home cities of our founding members, and therefore have the most resources available to us. We will attract the users first from the university environment, and move to their families, which allows us to dive into a larger target market We will also host our app promo in promotional services on Instagram, as this is a growing niche for fitness enthusiasts. We can enlist the promotional help of user ambassadors that receive attractive perks for premium services that share our app with their follower base (must have 5000+ followers).

TECH IMPLEMENTATION

Technical Decision Making User Experience Design Proof of Concept

WORKSHOP-RELEVANCE

Moving forward and looking towards the future, myFridge is a product that will expand and grow as technology improves as well. The concept itself demonstrates a growing need in the community as more and more people are looking for ways to not only eat healthier but also eat in a fashion that is environmentally responsible. This mindset will only become more prevalent as the years go by. In terms of specific technology, the current plan is to move from our designs to a React Native app so users of both Android and iOS will have access to our services. Depending on reception, there may also be a need for a webapp version as many people plan their recipes on a laptop or desktop instead of their phones. This would be a good opportunity to take advantage of whatever new tech has been introduced in order to provide a good user experience and better security for user data. Another future use of new technology would be improving our database. Currently using postgreSQL, an open-source SQL database which allows us to search relationally, we may choose to move towards newer database resources out there for more efficiency and better relevance in search results. Another option may be to move our database to a cloud product such as Airtable as this will lower our overhead costs in terms of physical hardware and allows us to take advantage of better customer service and database features.

Regarding the React Native workshop, we had to make an economic decision in the essence of time and decided to use something we could develop quicker to create a proof of concept with more emphasis on the work rather than setup, as downloading the Reactive Native software would take a few hours. Once base functionality is in place, it is easily transferable to React Native, which we can accomplish post event.

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