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Smart Box: Revolutionizing Electricity Monitoring

Our proposed product is a Smart Box for electricity meters across India to enable smart monitoring of household electricity usage. Key features allow users to check instantaneous electricity costs via SMS, receive notifications when usage reaches certain percentages of a set budget, and allow electricity boards to remotely cut power via message. The product is ready after 2 months of domestic testing and aims to automate domestic electrical systems and enter the growing home automation sector in India. The founders plan to profit 6-8 crore annually within 3 years by initially approaching individual homes and societies before partnering with smart cities and expanding into smart appliances, while seeking angel investors and funding from telecom and electricity boards.

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Prakhar Agrawal
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4 views3 pages

Smart Box: Revolutionizing Electricity Monitoring

Our proposed product is a Smart Box for electricity meters across India to enable smart monitoring of household electricity usage. Key features allow users to check instantaneous electricity costs via SMS, receive notifications when usage reaches certain percentages of a set budget, and allow electricity boards to remotely cut power via message. The product is ready after 2 months of domestic testing and aims to automate domestic electrical systems and enter the growing home automation sector in India. The founders plan to profit 6-8 crore annually within 3 years by initially approaching individual homes and societies before partnering with smart cities and expanding into smart appliances, while seeking angel investors and funding from telecom and electricity boards.

Uploaded by

Prakhar Agrawal
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

PRODUCT

Our proposed product is a Smart Box for the electricity


meters across India for smart monitoring of electricity of each
household

Features :
•The product has the following features you just need to send
an SMS to the number associated with the smart box to know
the instantaneous cost of electricity consumed.

•For a particular amount decided or a budget amount made


for bill payment, the meter would end notification on the
consumptions at 50%, 90% and 100% of the total budget.

•Nowadays electricity board sends manual labour to cut the


Connection which is manipulated by people in form of direct
connection. Due to this device the electricity board can cut the
light of any individual house just by a message.

•One of the best feature of our Smart Box is Home


Automation. We can now switch ON and OFF the lights just
via a message.

Our progress : Our product is ready and it has already


been tested for 2 months on a domestic load.
MARKET
•We have a market of 1.3 crore Indians since all the Indians
now have right to electricity.

•Though our product we also aspire to enter the home


automation sector available in India.

Price Determination

For first channel production For industry level production


Basic equipments 2500 Basic equipments 1700
Marketing cost 250 Marketing cost 250
Product finishing 250 Product finishing 250
Profit 500 Profit 1000
Error margin 350 Error margin 200
Total 3850 Total 3400

Market Approach
Step 1 : Approaching to individual houses.

Step 2 : Approaching to societies small industries.

Step 3 : Investing in smart city projects in India.


Our Competetors
• We find competetors like Spire Metering [Link] , Smart
Techno System, Meter Group Inc. and 21 others .

•None of these are completely automating domestic electrical


system. They are mainly focused on a single appliance .

3 Year Plan
•Our plan is to make a profit of 6 lacks par annum to 8 crore per
annum.

•Our running cost would be negligible, we would try to get


angel investors for our product and expand from making smart
meters to making smart globe.

•We would like to be a part of start up India plan.

•Of our total funding we would use only 70% for product
development and rest 30% in other works like marketing.

•We would find few telecom companies and approach state


electricity boards to fund our products.

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