Executive Summary
Company Name (COMPANY NAME) is a startup organization looking for initial seed funding to validate market opportunities in the voice translation devices market, scout for new opportunities, and introduce a product that offers innovative and sophisticated voice translation technology. The initial plan is to sell product-software based portable translation services to affluent US-based business and leisure travelers. The target market will be Eastern Europe and the company also plans to look at the People’s Republic of China market in an exploratory manner to find out more about the Chinese market, growth potential, competition and the logistics of doing business in China. The long-term sustaining strategy is to dominate through superior service and well-thought out functionality and convenience.
Situational Analysis – Market Trend
The translation industry in general is a fragmented, little known industry that is not talked about much. The translation industry is synonymous with individual translation service, where in-house translators, fulltime freelance translators and part-time freelance translators translate documents for companies that do business internationally or within a country. With globalization, the need for different forms of translation became a necessity as the whole world became the market place, with producers, marketers and consumers having to interact with each other. This led to the establishment of the following forms of translation
1. Text to Text Translation: A user can type in text in a particular language and can get a resp ...