VCW 4 KTA: Flood Risk in Australia
Leveraging Earth Observation for proactive flood management in New South Wales.
What is the most attractive geographical market for KTA Start-Up to develop detailed reports and identify areas most likely affected by floods?
KTA applies the Value Creation Wheel to pinpoint the ideal market for its flood-focused EO services, targeting New South Wales, Australia, with a volunteer integration component.
Overview
This presentation described KTA's plan to launch a flood risk assessment and management service using Earth Observation (EO) data and the AWARE technology. The Value Creation Wheel (VCW) was used to determine that New South Wales, Australia, is the best initial market. The startup offers reports to manage floods.
Application: Using VCW to find the best Market
Discover Value (Phase 1): Defined KTA's mission (using AWARE technology to identify flood-affected areas) and vision (expanding the use of AWARE globally). Performed Porter's Five Forces, competitor, PESTEL, and TOWS analyses. Identified stakeholders and their needs. Aligned with SDGs, the Paris Agreement, and the European Green Deal. Established business and departmental objectives and KPIs.
Induced Solutions & Filters (Phase 2): Considered all 193 UN countries as potential solutions. Generated 43 filters (after grouping) using the 6-3-5 brainwriting method, primary research (stakeholder interviews), and secondary research.
Selecting Filters (Phase 3): Used the POCR method to narrow down the filters to 9 global filters. Ranked the filters based on importance (total affected by natural disasters, total damages, government stability, etc.).
Value Creation Funnel (Phase 4a): Applied the global filters, resulting in Australia as the optimal country. Further analysis led to the selection of New South Wales as the specific target region.
Positioning & Prototype (Phase 4b): Conducted an STP analysis (segmentation, targeting, positioning), focusing on government agencies, private companies, and emergency service associations. Developed a Blue Ocean Strategy. Created prototypes for the website and mobile app. Defined the 7Ps of marketing (including a tiered pricing structure).
Consolidation (Phase 5): Created a business model canvas. Detailed the 3 Ms (manpower, minute, money), including hiring needs, a timeline (Gantt chart), and funding requirements ($200,000, with a breakdown of costs). Evaluated KPI achievement.
Key Takeaways
Target Market: New South Wales, Australia, was chosen for its high flood risk, government investment in disaster management, and access to internet.
Value Proposition: KTA provides detailed, accurate, and timely flood risk assessments and reports, leveraging AWARE technology and incorporating volunteer engagement.
Competitive Advantage: KTA differentiates through its specific focus on floods, its use of advanced EO technology, its volunteer integration model, and its tailored reports.
Pricing: Three annual subscription plans (basic, standard, premium) with psychological pricing, plus additional fees for extra locations and users.
Funding Strategy: A combination of personal funds, accelerator programs, and government grants will be used to secure the $200,000 investment.
Conclusion
The startup offers a unique value proposition to the chosen market by presenting three subscription plans. the next challenges for the company are, making the product more user-friendly and get funding from investors.