The Project is going to be about starting a company in Oregon that will program apps for smart watches. The future business owner has recognized a market opportunity in that field as sales for smart watches worldwide are growing with increasing speed. In 2014 the worldwide revenue that was generated with smart watches was almost $1.3 billion  and is expected to reach $ 33 billion in 2020 . As smart watches are at the very beginning of their product lifecycle they are right now purchased by the early adopters. These early adopters are furthermore expected to be rather ready to pay for apps as the majority of smart watch-users at a more mature phase of the lifecycle. This led the business owner to the decision to start a company in that field in order to serve that market demand. He talked to two of his acquaintances who he already worked together with on earlier projects and who he knows he can rely on. This project plan is supposed to bring have as result a company that is legally and physically established and has all the requirements to start operating right away after the project is terminated. Since this should happen as fast as possible to be quick at the market, the project plan needs to include every single element that the founding of a company in Oregon needs. The business owner realized furthermore that it requires more people to accomplish that goal within the shortest possible time. Therefore he hires five more people besides the two acquaintances who already are involved in the project and he will be part of the project team as well. The business owner will moreover be funding the project with his own capital.
Blank, Alexander; Chhatre, Purva; and Maier, Felix, "Porject Report: Team 6" (2015). Engineering and Technology Management Student Projects. 205.