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    Date submitted
  • 25-Feb-2018

OYASMi - The Connected Toy

Abstract

We, OYASMi, are a toy company to cater to households which is a single parented or dual income - and thus very busy. Parents may look for even a minute.

To help those demographics, there are many sleep-aid toys, one of whose major categories is a cartoon-casting device. They are effective - very, very much, but until your finicky children get bored with them quickly... The inherent problem with all of them is that the number of contents they can cast is limited because of their design - they only allow the contents to be changed by physical cards and films.

Hence we thought - why not bringing in LCD toy and provide a variety of contents?

Our business will be on building 2-sided network platform: users and content developers. Users who purchased OYASMi LCD device will purchase whatever contents on the platform. A content provider can be anybody - individuals to legal entities, such as Disney. We sell LCD device as well as contents, and we split contents sales with contents developers. Content developers are happier with more users on the platform, and users are happier with more contents on the platform.

We will scale the business with rapidity to build a higher barrier to the entry.

Additional Questions

Who is your customer?

Our customers are households which have a child younger than 5 years of age. More focuses on the ones with dual-income or single parents in urban cities.

What problem does this idea/product solve or what market need does it serve?

The amount of time and efforts expended by parents is significant, and this is exacerbated if both the parents are working. Our product aims to save this precious time for parents while showing educational contents, by establishing a healthy sleeping pattern for their child.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Again, our idea is to build a platform -the very first company to do so for the toy designed for 0 to 5-year old kids. This connects users and content developers. Users (both parents and children) will be attracted if there are more content providers and vice-versa. In order to attract more users, we will set a strategic pricing to the toy with razor-blade profitability to accelerate user's adoption, but rather our business model is to earn by contents sales. Having a pre-installed compelling content is also significant to have toy's standalone value higher. Meanwhile, to expand the participants of content developers more, we will periodically run a content developer forum. On top of that, we will set a dynamic pricing to contents - higher price for popular contends (just like UBER's surge pricing) - to encourage developers. We will not be utilizing nothing technologically advanced - thus the key to the success is to scale faster not to allow followers to be able to imitate us. We will strive to scale in quantity and quality. There is no such product in the market, but there are plenty of substitutes. However, our team has the passion and drive to execute this idea. This idea is also close to our hearts since we have a couple of our target customers in our team.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

The critical component of this product will be the marketplace that we will be creating for content generation. Using this customized approach will enable us to scale efficiently and serve diverse types of contents. With the growing focus on "Kidtech" our product is at the crux of technology and the toy industry. With added controls to ensure relevant content and ensuring certification by medical / pediatric organizations, we can assure parents that our products are safe to use in all aspects. By acknowledging this factor, parents will have peace of mind exposing their children to this technology.