Photo - Synafusion
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Synafusion

software-customizable smartwatces

Ukraine, Kyiv city
Market: Internet and IT, Production, Electronics, Gadgets , Mobile applications
Stage of the project: Idea or something is already done

Date of last change: 15.11.2020
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Idea

Synafusion is a company that develops a software-customizable smart watches with the ability to connect to:

• iPhone and Android smartphones using Bluetooth;
• IoT devices using Lora technology and Wi-Fi.

Current Status

It is just an idea and now, we are working on the first prototype.

Market

• Synafusion watch is directed at many different customer segments. We target consumers seeking efficiency and easy of use, such as busy parents, business professionals, students and geeks (Mass Market, Niche Market, Segmented, Diversify).

• As Synafusion is compatible with iPhone an Android users we are able to
target both segments of consumers.

• App developers are an additional customer segment we are able to reach due to the easy of consumer based app creation for the Synafusion smartwatch.

• Students and geeks are another customer segment that we are able to reach thanks to good documentation and 1000 examples. This helps to narrow the gap between knowledge and practice, since writing and uploading applications looks easier than making a phone call.

• We are also focus on athletes interested in having a tool that is simple to use while they are in action.

Problem or Opportunity

• Synafusion smartwatch is belong to advanced smartwatches. They feature all or some of the following elements: Operating system capable of running and installing new apps and Full-touch color display. The Synafusion watch has its own operating system that allows you to extend the battery life up to 15 -20 days in comparison with Apple and Google, the battery life of which is 2 days.

• The simple and powerful SDK allows you to start writing applications and watch faces with less effort, even with basic programming skills.

• You are also able to upload the written applications in the Synafusion App Store.

• The presence of a Lore Module will allow customers to create applications for the Internet of Things.

Solution (product or service)

• Advanced operating system capable of running and installing new apps, even (and especially) created by user himself.

• Full-touch color display which supports various gestures and pressure levels.

• Extended battery life 15 - 20 days in standby mode, 7 - 10 days of intense usage.

• The simple and powerful SDK allows you to start writing applications and watch faces with less effort, even with basic programming skills.

• You are also able to upload the written applications in the Synafusion App Store. Create wherever you are! Use any device you want! Synafusion App Store will deliver it to your smartwatch.

• The presence of a Lore Module will allow customers to create applications for the Internet of Things.

Competitors

Apple held the largest share of the global smartwatch shipment market in the first quarter of 2020. Their 47.9 percent share was followed by Samsung whose market amounted to13.4 percent.

Advantages or differentiators

• Extended battery life 15 - 20 days in standby mode, 7 - 10 days of intense usage.

• Free developer license.

• The simple and powerful SDK allows you to start writing applications and watch faces with less effort, even with basic programming skills.

• You are also able to upload the written applications in the Synafusion App Store. Create wherever you are! Use any device you want! Synafusion App Store will deliver it to your smartwatch.

• The presence of a Lore Module will allow customers to create applications for the Internet of Things.

• Fair price.

Finance

Revenue Streams:
• Subscription to some features of the Synafusion Web Services.
• Commission for purchasing paid apps from the Synafusion App Store.

Cost Structure:
• Cost structure is a mixture of cost driven and value driven.
• Fixed costs for components such as salaries, rent and utilities.
• The ultimate goal is to create a product which is affordable while also creating value for customer.

Business model

• We will use a combination of partner channels and our own channels. We will begin selling our product online.

• As we start to build relationships with new partners, we will be able to increase our brand awareness, and provide better after sales service.

• In 2024 we’re predicting sales of more than 300 million smartwatches and fitness trackers worldwide. So, we are planning to join them.

Money will be spent on

• Development to the Synafusion smartwatch and web services. (The Synafusion App Store will allow easy access to all of Synafusion apps, including apps created by consumers using the open platform software.)

• Encourage app and product development.

• Allow customization of product.

Team or Management

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