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Introduction: I decided to alter my product to target a different market after analyzing the customer base and asking Dr. Pryor about his thoughts on powdered insect protein for human consumption. I think it would be easier to sell the product as a protein source or feed supplement to poultry, aquaculturalists, and ranchers.  There are a number of chicken and fish farms relatively close to my current agricultural operation. Many cattle and hog farmers also mix their own feed, thus buying varying inputs and protein sources to mix together. Background: Marketing the product to individual consumers for human consumption in the highly competitive protein powder market would be both risky and expensive.  The market for animal feed is somewhat less competitive and the barriers to entry are much lower.  Low barriers to entry do pose additional risks because farmers may begin producing the insect protein themselves to cut out the middleman (me). ...

I have attached my first Elevator Pitch below.  I hope you enjoy and thank you for your time! Elevator Pitch No. 1

8A—Solving the Problem I currently raise cattle but I'm interested in innovative and more energy-efficient agricultural productions. After researching the processes involved in producing cricket flour and other forms of powdered protein from insects, I think it’s a viable option to provide an efficient and highly portable protein source.   Protein powder derived from insects can be produced on very little land and be processed in the same facility it’s grown with. The equipment needed for processing includes mixers, large heat sources, and packaging options.  I think the market is actually in need of competition and new firms will be able to capitalize on the marketing from the entire industry because it’s a relatively homogenous good.  In other words, cricket flour from one company won’t be significantly different from another company. I think both shipping world-wide either for humanitarian purposes and for general consumption is on the table. I still have...

7A – Testing the Hypothesis Part 1 Who, what, why? I think the growing population will only continue to increase the demand for protein. Dwindling natural resources will likely force humanity to seek out and consume more efficient forms of protein. I think insect protein, in powder form, from crickets and mealworms, will only continue to grow in popularity. The relatively high price per gram of “cricket flour” indicates strong market potential and room for growth. I think a separate market also exists in the pet food industry because many Americans have dogs and cats. Feeding these animals chicken and pork will likely become less feasible in the not so far future. Therefore, substituting cricket or mealworm flour for beef and chicken may be a great solution. Are there others who have the need? All people have the need for protein. I think pricepoint will increase the need for insect protein for some. Others will already see it as a need and therefore be more immediatel...

6A – Identifying Opportunities in Economic and Regulatory Trends Economic 1: Hurricane Florence  à Bulk Trailer Demand Increases . . . a)     Source: All national weather channels and my family’s contracting firm just got a contract to help with clean up. https://www.freightwaves.com/news/weather/bulk-trailers-in-demand-for-florence-cleanup b) Why opportunity Exists: I saw this opportunity because my family will likely contribute to the cleanup efforts because we are emergency contractors. There will be a surplus of damaged goods and a shortage of staff to clean it up  à it’s an economic goldmine. This is caused by the inconsistent nature of the event; there is never enough cleanup work on a regular basis in any specific area. c)  Who are likely customers: The general public, state, local, and federal agencies as well as non-profits. d) Why do I think they are: They have a fairly pressing need to receive a job done right so th...

5A – Identifying Local Opportunities 5A – Identifying Local Opportunities 1 a) “Surge, wind, rain, floods: Hurricane Florence cloud hit hard” b) https://www.gainesville.com/news/20180911/surge-wind-rain-floods-hurricane-florence-could-hit-hard c) Hurricane Florence is building up to be quite the storm.    Local, State, and Federal agencies are bracing to poise for the ensuing damage Florence would bring.    Florence is likely going to be the worst hurricane since Hazel in 1954.   South Carolina has predicted approximately one million people will evacuate. d) The hurricane is set to destroy thousands of buildings and potentially damage six nuclear power plants and open agricultural waste facilities. e) The various governmental levels and entities will have the issue of how to solve various logistical issues for conducting a speedy cleanup.    Many citizens will almost certainly have property damage, some of which will l...