BUSINESS MODEL INNOVATION

BUSINESS MODEL INNOVATION

A1. Social mantra one-liner

A2. Product/service presentation

Hand slate is an app that arose from the social commitment of Monserrat, Metzli, Christian, and Aldair, in support of Dr. César and Dr. Vicente, from the passion for inclusion and technology of each of them to make a difference visible in society. In addition, the brand is a social enterprise represented by a technological tool that allows interpreting Mexican Sign Language (LSM).

This app is perfectly adapted for the activities of the private and public service sectors, through artificial intelligence (AI) based on convolutional neural networks, Handslate seeks to stand out for its ease of use that allows real-time interpretation of the language of Mexican signs to text and vice versa, providing an innovative and accessible solution for inclusive communication. 

B. Business model

B1. Business model overview

Our business model is based on a combination of free download with premium features for a limited time and subsequent monthly or annual subscription for business use it must be considered the size of the ENTERPRISES: small (6-30) $1 575 thousand five hundred and seventy five, medium ( 31-100) $2,175 two thousand hundred and seventy five and large (101-250) $3,075. Three thousand and seventy fuve  

Handslate is looking to support as many people with hearing disabilities as possible, therefore we will offer free personal versions for deaf people.  

B2. Economic value for customers

Income sources are essential for the sustainability and continued growth of Handslate, so two sources of income are contemplated; the first one is through subscriptions, which consist of offering plans that provide access to all the features of the application. Based on the size of the companies/institutions, the source of income was divided into three subcategories: 

  • Small business/institution subscription 
  • Medium business/institution subscription 
  • Large company/institution subscription 

B3. Target social impacts

Handslate’s vision is to contribute to the reduction of communication barriers by promoting the inclusion of deaf people and its mission is to provide better communication for the deaf by promoting their inclusion and social recognition. 

Contributing to the objectives of sustainable development:

10. Reduce inequalities - ODS 9. Industry, innovation, and infraestructure - ODS

The social impact indicators are: 

  • Accessibility 
  • Awareness and education 
  • Labor inclusion 
  • Investigation and development 
  • Equitable prices and access 
  • Sustainability 

B4. Feasibility

A substantial part of the Handslate app and facility development process are key resources which, are divided into four categories (human, financial, intellectual, and material capital). Each resource is crucial in developing, promoting, and maintaining the app, ensuring its success and market adoption. 

With key resources, the fundamental activities carried out at Handslate  are:

  1. Application development: Software programming, the creation of intuitive and accessible user interfaces, and the integration of artificial intelligence that will allow sign language interpretation.
  2. AI training: Compilation of videos and examples of signs, annotating this data, and using deep learning algorithms to teach the AI to precisely recognize and translate gestures. 
  3. Future sales closures: Identify potential clients, present the benefits of the app, negotiate agreements, and close sales. 
  4. Software quality testing: Functionality, usability, performance, and security testing. 
  5. Attention to technical support and customer monitoring: Resolution of technical problems, attention to queries, and collection of feedback to make improvements. Software quality testing: Functionality, usability, performance, and security testing. 
  6. Training in sign language: As social entrepreneurship, it is valuable to make a difference, which is why it is intended to train deaf and non-deaf people to learn sign language. 

B5. Profitability

Regarding the most relevant financial indicators: Our initial investment is 484,581.00  pesos, with a net current value of 671 406   and an Internal Rate of Return of 40.21%, finally we expect to recover the investment after 3 and a half years. 

B6. ESG integration

Noticias ESG – ISD

To measure the achievement of Handslate’s goals it is important to consider a variety of environmental, social, and economic indicators that reflect its impact and performance. Below are some relevant indicators for each category:  

Environmental indicators: 

  • Energy Consumption: Measure the energy consumption of the servers and devices associated with the app, just like the use of renewable energy. 
  • Electronic Waste Management: Tracking the amount of electronic equipment recycled and properly disposed of at the end of its useful life. 
  • Carbon Footprint: Calculate greenhouse gas emissions related to the company’s operation.  
  • Use of Natural Resources: Evaluate the use of materials and natural resources in the supply chain and the development and maintenance of the app.  

Social Indicators: 

  • Accessibility: Measure the degree of accessibility of the app in the deaf community, including ease of use and user satisfaction. 
  • Impact on the Deaf Community: Evaluate how the app improves the quality of life and social inclusion of the deaf community through surveys and qualitative studies. 

Economic indicators: 

  • Number of active users: Measure the number of users who regularly interact with the app. 
  • Drop-out rate: Measure the percentage of users who stop using the app in a given period. 
  • Revenue and Profitability: Track the revenue generated by the app through subscriptions, as well as the profitability of the company. 
  • Investment in Research and Development: Evaluate the investment in innovation and continuous improvement of the app. 
  • Market Growth: Analyze the growth of the app’s user base and market penetration over time. 
  • Impact on Employment: Measure the creation of direct and indirect employment related to the development, maintenance, and promotion of the app. 

Furthermore, implementation of good governance practices, such as transparency, risk management, and the participation of the deaf community in development, contribute to efficient and responsible management. The creation of strategic alliances and commitment to corporate social responsibility further strengthens Handslate’s positive impact on society. 

C. Business model validation

C1. Crowdfunding/crowdsourcing campaign

https://www.indiegogo.com/projects/handslate#/

C2. Learning curve

In summary, the Handslate project arises from the passion for inclusion and technology of four university students from different degrees, accompanied by their advisors, to make a tangible difference in the lives of deaf people. Through extensive and collaborative research, they identified the need to improve communication for people with hearing disabilities in Mexico, where there is a shortage of certified Mexican Sign Language (LSM) interpreters. 

To address this issue, they established direct contact with the deaf community in Xalapa, Veracruz, and gathered valuable feedback and perspectives that guided the development of the Handslate app. This mobile application uses artificial intelligence and pattern recognition to interpret sign language in real-time, offering an innovative and accessible solution for inclusive communication. 

Preliminary results of the project show positive acceptance among users, a reduction in communication barriers, and growing interest in the app. Additionally, the project has been transformed into a social enterprise focused on social impact, collaboration with the deaf community, and promoting a culture of inclusion and diversity. 

The following achievements of Innovative Start are: 

diseño de icono de trofeo de logro, copa ganadora en estilo editable  5157582 Vector en Vecteezy

2nd place in the 2023-2024 onCampus Program by Hult Prize competition 

1st place in the Entrepreneurs’ Fair in the Social Impact category of the Faculty of Accounting and Administration 2024. 

9th place in the “Impactful Social Business Idea” Award 

Ultimately, social entrepreneurship represents more than an application: it is a vital tool for inclusion and equality, and an inspiring example of how technology can be used to generate a positive and lasting social impact on society, seeking to be social engineers changing the system by generating new ways of communication mediated by technology. 

Join Handslate so deaf people included in every space that exists!