Quainv is a product development, Start-up Funding and commercialization, innovation platform which crowd sources the development of its products. The Platform has a unique culture within its organization of creativity and continual innovation. It believes that the best ideas in the world aren’t actually in the world but locked inside people’s mind. Quainv’s objective is to offer inventors the plat
form to turn an idea into a marketable product and it’s also connect investors with budding entrepreneur. Through This platform you can enhance your skill and earn money as per contribution in project. Quainv’s competitive advantages include that of delivering superior value to its customers by empowering them in the product development process. Quainv’s business model is rare and innovative because it has created a new market and its resources and competencies have helped develop a product development cycle and start-up growth cycle which is rapid and efficient. Quainv competes within the consumer retailing sector how- ever it follows an innovative product manufacturing and retailing business model. Its model has been driven by the modern surge of internet activity and globalization in forums, blogs and social media. Players in this industry such as Kickstarter, Inpama and Peer- backers have shown to leverage strategic partnerships in order to increase their resources. Quainv will create the partnership with research, Innovation and educational organization in order to access its huge pool of intellectual property. This partnership has enabled it to compete in a high tech industry. Kickstarter is one of the biggest competitors however it does not manufacture products like Quainv does. Quainv has been able to avoid direct competition due to its first mover advantages in crowd sourced product retail. Quainv’s customer segment is mass market however, it targets innovators, inventor, entrepreneur and key people to source product ideas. The Company has achieved strong competencies in developing customer relationships. It has developed a huge online community which serves as an appraisal system for its product ideas. It also delivers customer support with using the same online community and with highly reliable telephony support. This “user customization” business model however, may face financial difficulties and business model viability due to its inability to mass manufacture at economies of scale. Quainv uses a hybrid distribution channel structure. It manufactures products locally in the India as per theme of Made in India. These products are sold online on its website and leading online E-commerce such as Shopclues, Amazon, EBay & flipkart etc. and some retail partner e.g. Big bazar, V-mart, Vishal Mega Mart and Walmart. Quainv’s revenue streams come from 60% of product sales to maintain manufacturing costs and IT infrastructure costs. Its cloud based IT management comprises of systems for state of the art enterprise resource planning and electronic data interchange. Its order systems are entirely automated using this infrastructure. The remaining 40% is distributed to the community of developers and the inventor of the idea. He had the vision that anyone could possess the ability to create extraordinary ideas, and that those ideas should be allowed to come to life in the right environment. Therefore Quainv’s objective is to offer inventors the opportunity to turn an idea, into marketable products with mass market potential. This approach has enabled Quainv to develop a ‘own Strategy’ and change the perception of how products are created and delivered to the modern day consumer. Quainv has created an entirely new market and is a start-up itself. Therefore, certain statistics are unavailable due to the novelty of the analysis.
