Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need answers In detail The man helping Americans access safe drinking water It was one of the worst water contamination scandals in recent US

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

I need answers In detail

The man helping Americans access safe drinking water It was one of the worst water contamination scandals in recent US history. In 2015 children living in Flint, Michigan, began suffering from rashes and mysterious illnesses. Independent testing found dangerous levels of lead in homes and schools, caused by chemicals in the water supply that corroded the pipes. Officials declared an emergency and residents were told to stop using tap water. They were given free bottled water and filters, but Eric Roy, a chemist living in Washington DC, didn't think regular filters would be capable of dealing with such high levels of lead. Replacing pipes can cost millions of dollars which many cities can't afford. Even where that has happened, older homes may still have lead plumbing inside. In addition, "filters given by government wouldn't solve the problem," the 35-year-old says. "So I started building high capacity lead filters just as a charitable effort. I needed to do something." At the time he was working for a Boston company conducting chemical research for the US military, but he set up a GoFundMe page for donations, and began assembling his water filters with a friend in the front fbic 1 At the time he was working for a Boston company conducting chemical research for the US military, but he set up a GoFundMe page for donations, and began assembling his water filters with a friend in the front room of his apartment and giving them to households for free at the beginning Mr. Roy assesses the type and level of contamination by analyzing publicly available data. "Once we identify the problem we create a filter that's optimized for that water," he says. "So if you're in an area that has very high levels of Chromium-, we'll make sure the filter has an extra capacity for Chromium-6. "If you live in a brand new house where there's no lead, but you have high levels of arsenic, we'll make sure we favor the arsenic when we're designing and developing that filter." "It was very grassroots, very organic," says Mr. Roy. "We were buying stuff at retail, assembling it and shipping it to people's homes." Filters cost around $225 (172), and replacement cartridges, which are needed every six months, cost $65. We fill that gap with technology and information." "After Flint hit the news people started taking a closer look at their water and found that lead is a widespread problem in the US." Roy says. From giving away a few hundred water filters to people in Flint, two years later Roy has turned his charitable effort #FiltersForFlint into a rapidly growing company called Hydroviv with 11 employees and ambitious plans for expansion. "The math is pretty straight forward. On average, every customer that we have refers three people." They are also repeat customers because they need to replace the filter cartridges. Hydroviv now makes thousands of units in a small warehouse in Washington DC, and is close to turning over a million dollars a year. "As a business we're 100% sustaining and I'm most proud that we've never missed a payroll," Mr. Roy says. Answer the following question: Imagine you are the entrepreneur in the passage and you want to present your new business to investors to secure financial capital, develop a product and offering description of the business: Positioning statement For (target customer) Answer the following question: Imagine you are the entrepreneur in the passage and you want to present your new business to investors to secure financial capital, develop a product and offering description of the business: Positioning statement For (target customer) Who (statement of need opportunity) . (product name) is a (product category) That (statement of benefit) Differentiation Unlike (primary competitive alternative) . Our product (statement of primary differentiation) The man helping Americans access safe drinking water It was one of the worst water contamination scandals in recent US history. In 2015 children living in Flint, Michigan, began suffering from rashes and mysterious illnesses. Independent testing found dangerous levels of lead in homes and schools, caused by chemicals in the water supply that corroded the pipes. Officials declared an emergency and residents were told to stop using tap water. They were given free bottled water and filters, but Eric Roy, a chemist living in Washington DC, didn't think regular filters would be capable of dealing with such high levels of lead. Replacing pipes can cost millions of dollars which many cities can't afford. Even where that has happened, older homes may still have lead plumbing inside. In addition, "filters given by government wouldn't solve the problem," the 35-year-old says. "So I started building high capacity lead filters just as a charitable effort. I needed to do something." At the time he was working for a Boston company conducting chemical research for the US military, but he set up a GoFundMe page for donations, and began assembling his water filters with a friend in the front fbic 1 At the time he was working for a Boston company conducting chemical research for the US military, but he set up a GoFundMe page for donations, and began assembling his water filters with a friend in the front room of his apartment and giving them to households for free at the beginning Mr. Roy assesses the type and level of contamination by analyzing publicly available data. "Once we identify the problem we create a filter that's optimized for that water," he says. "So if you're in an area that has very high levels of Chromium-, we'll make sure the filter has an extra capacity for Chromium-6. "If you live in a brand new house where there's no lead, but you have high levels of arsenic, we'll make sure we favor the arsenic when we're designing and developing that filter." "It was very grassroots, very organic," says Mr. Roy. "We were buying stuff at retail, assembling it and shipping it to people's homes." Filters cost around $225 (172), and replacement cartridges, which are needed every six months, cost $65. We fill that gap with technology and information." "After Flint hit the news people started taking a closer look at their water and found that lead is a widespread problem in the US." Roy says. From giving away a few hundred water filters to people in Flint, two years later Roy has turned his charitable effort #FiltersForFlint into a rapidly growing company called Hydroviv with 11 employees and ambitious plans for expansion. "The math is pretty straight forward. On average, every customer that we have refers three people." They are also repeat customers because they need to replace the filter cartridges. Hydroviv now makes thousands of units in a small warehouse in Washington DC, and is close to turning over a million dollars a year. "As a business we're 100% sustaining and I'm most proud that we've never missed a payroll," Mr. Roy says. Answer the following question: Imagine you are the entrepreneur in the passage and you want to present your new business to investors to secure financial capital, develop a product and offering description of the business: Positioning statement For (target customer) Answer the following question: Imagine you are the entrepreneur in the passage and you want to present your new business to investors to secure financial capital, develop a product and offering description of the business: Positioning statement For (target customer) Who (statement of need opportunity) . (product name) is a (product category) That (statement of benefit) Differentiation Unlike (primary competitive alternative) . Our product (statement of primary differentiation)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

De Gruyter Handbook Of Entrepreneurial Finance

Authors: David Lingelbach

1st Edition

3110726750,3110726351

More Books

Students also viewed these Finance questions

Question

What form of organization would you recommend to the group and why?

Answered: 1 week ago