Principles of Entrepreneurship (ENT530): Business Model Canvas: Ourtech Company / Nurul Shazida Zailani … [et al.]

Malaysia was one of the first countries to suffer a coronavirus outbreak and consequently faced significant health and socio-economic challenges. Despite the fact that the virus’s prevalence varied across the country, the Malaysian government implemented a comprehensive set of standard measures. One of the interventions is manually operating for scanning people and it is risky for human beings that handle the whole operation of scanning especially when it causes more time since it is not user friendly as it is accessible in internet existence. Therefore, on 12th December 2020 a new business named OurTech company was formed to focus on technology and incorporate innovation into products that may benefit others. OurTech company is located at Alor Gajah, Melaka. Our target customers are Universiti Teknologi Mara (UiTM) students, thus this location was picked particularly for them. OurTech company is managed by five individuals who occupy key positions within the organization, as
detailed in the appendices. Our aim is to smoothen the movements of students on the university grounds. Therefore, we invented a concept for a smart scanner together with additional features that allows scanning QR code together with their temperature with wireless connection and we named it as Monix Scanner. Monix Scanner is designed to avoid time consuming, internet usage and also trouble-free monitoring. We invented a word that accurately represents our product in the twenty-first century and is simplistic for people to pronounce and remember it. OurTech company was also the first local company to develop a QR code scanner that did not require an internet connection. We improved the U-Future portal, which is presently accessed by UiTM users, by introducing a feature to download the QR code. So, in that way it is more convenient as students will find it handier because they will be able to access it multiple times and whenever they require it. To identify our main partners, key activities, key resources, value proposition, customer relationship, channels, customer segments, cost structure, and revenue streams, OurTech company employs the 9 blocks of the Business Model Canvas (BMC). It assists us in comprehending important business aspects and their inter relationships.