Seyann Electronics Ltd.

Idea

Introduction

Seyann Electronics would be positioned to provide a critical and central link between our middle-class customer base and the products, services and people with which they interact on a daily basis.

Our central goal is to eliminate the currently opaque nature of local search and discovery in these markets, transforming it into an easy, fast and convenient experience for our customers.

This would enable them to find and complete transactions on products and services, to get inspired and develop new ideas, to link with experts, recommend professionals, find great product offers, locate and attend events and conferences, as well as to send and receive money to friends, family and retailers.

And we would make all this available to them through their most trusted devices; their mobile smartphones.

Intended impact

Our belief is that the introduction of our service will usher in a new phase in the mobile commerce story, which is not only underway in our target markets, but is already leading the way internationally.

By bringing together these disparate yet vital areas of our customers' lives, we believe the uptake would be swift and significant, creating the opportunity for Seyann Electronics to potentially carve-out a large portion of the emergent mobile payments and mobile commerce markets in our target regions of operation.

We believe that we can rapidly become a major player in the search, local-discovery, and mobile commerce areas within these fast-growing markets.

This would be assisted by what we perceive to be a lack of organised and cohesive competitors, as well as the on-going scramble from many of the dominant mobile networks in each respective market, to figure-out a model through which to drive both mobile data uptake, and the mass adoption of their proprietary mobile payment systems. We believe we would be well positioned to assist with this market, possibly working directly with the networks on this.

We consider our ace-card in this strategy for widespread adoption to be our already underway plans to have showpiece customer-facing partnerships with a number of large airline companies.

We would replace their traditional in-flight entertainment systems with our proprietary tablet computer systems (which would be powered by hardware from an international blue-chip partner).

These tablets would be running our software application, adapted for the form-factor, and would provide us with the ability to access many tens of millions of potential customers every year.

We are extremely excited about the potential of this new avenue for us, not only for its potential ability to drive the uptake of new users to our core smartphone services, but additionally for the substantial advertising revenue which we believe this division will bring in.

Substantial accomplishments to date

We have already entered into discussions with a major airline, the first of many planned, which if completed would potentially provide us with access to up to 3.75 million passengers and potential customers, every year.

This figure could potentially rise to around 12 million passengers per year, just with this first airline. We believe this would be a pivotal move forward for us.

Within a few short years, we believe we have the opportunity to drive our smartphone service subscription revenues, reach a captive audience of many tens of millions of potential customers beginning with this first airline deal, and to additionally generate substantial advertising revenues through our in-flight screen network.

We believe that this collection of people would utilise and interact with our application and services, making them far more likely to want to join us as subscribers, and would raise their ability and willingness to spread the word about our services to their friends and colleagues.

Monetisation strategy

Our strategy has been devised with the central aim of launching and continuing our progression, in as streamlined a manner as possible. We believe Seyann Electronics will make the bulk of its revenues from three key areas: Subscription fees, Advertising, and Premium Features.

Additional revenue areas may potentially include events, product promotions and transaction fees. Over time, transaction fees - powered by the planned growth of our mobile commerce operations - would come to comprise a much larger portion of both our total revenues and profits.

We consider that our choice to not only integrate premium features and subscriptions into our model, but to make them a key part of our structure, would ensure that we would be a business equally focused on our customers, our services, and our goal of being a cash-positive operation at all times.

It is a founding aim of ours not to fall into the trap of focussing excessively on growth in user figures, to the detriment of our position as a viable long-term proposition. At a later-point, we have plans to adjust our model to integrate a 'freemium' aspect, whereby our smartphone services will remain subscription-based, whilst a free aspect would be added in order to build a secondary user-base which would bolster our viability as both an advertising platform and a substantial hub of mobile commerce and mobile money in our markets of operation.

This last factor relating to our targeted position as a significant advertising platform, is already underway in the form of our planned In-Flight Entertainment (IFE) screen partnership with a large established airline, hopefully expanding to additional airlines in the future.

Use of proceeds

This capital would be directed wholly toward our hitting the ground running.

As such, we would begin by hiring in a development team for our mobile and tablet applications, as well as hiring a dual-skilled web developer/database engineer to design our corporate and product websites. This would also provide for the CEO position to be made a full-time and paid post.

The mobile applications would be made for the BlackBerry and Android platforms so as to capture the majority of smartphone users in our target markets.

Second would be securing and setting up an office in Ghana which would act as the centre of our initial African operations.

Third would be professional fees covering legal, accounting, product branding and consultancy fees.

Fourth would be the purchasing of critical hardware and software for our operations.

The remaining funds would be allocated to fund raising administration costs, and to securing and expanding our airline partnerships.