What's Next?

Existing Market:

Currently, my market needs a company that can combat Red Tide outbreaks. With our patented protocol involving biocontrol instead of chemicals, we can eliminate Red Tide. In addition, we can work with local agencies to prevent outbreaks in the future. I believe that the next step for this company will come as a result of climate change. After speaking with potential consumers (local government officials and residents), I have come to the conclusion that our next opportunity will come from global warming. Many of the people I have interviewed have suggested to me that problems with Marine habitats extend well beyond Red Tide. They explained to me that important species for ecological health and economic prosperity, like Red Snapper, have been disappearing from the population. Overfishing, climate change, and the destruction of reefs has been the primary cause of these declines. With Algae Solutions working closely in these coastal communities, we will be poised to exploit this opportunity. I believe that working on the restoration of reefs will be a great transition for Algae Solutions. Phytoplankton and other microorganisms are essential for the health of these complex ecosystems. With our knowledge and vast network, I believe we could expand our business in these markets further.

New Market:

Switching my market was very difficult because my business was targeted at coastal communities. However, the knowledge and experience that Algae Solutions will give me over the course of its life will give me the tools to transition into a new market. I am talking about the fuel and energy industries. I would target a large company like Shell or Exon Mobile to hire us. Our services would include researching and conducting tests of biofuels derived form algae. This would allow larger companies to focus on what they do well, making money. I was unable to reach any executives at large energy and fuel companies. Instead, I interviewed two people who work in lower level management positions for Shell. They explained to me that their company had been experimenting with biofuels for two decades. Unfortunately, this research had not yielded a product that was able to be brought to market. I think that the experts at Algae Solutions would be able to do a better job conducting research and testing the feasibility of biofuels. I think my existing market is more feasible because large companies have a lot of people targeting them for business.