New Jersey Entrepreneur

So much of entrepreneurship is about identifying solutions to problems that also offer the prospect of making money.  Such is the case following the founding of  Apple's mobile device App Store in July 2008.  Since its launch an entrepreneurial gold rush has occurred with the development of approximately 225,000 third party applications for iPhones, iPod Touches and iPads, resulting in over 5 billion downloads.*

Prior to founding iSpeech, Heath was in the speech technology field with a text to speech product designed for use on any platform.  The decision to focus on the mobile device platform was prompted by a co-worker's traffic accident caused by a texting driver.   Heath and his associates saw the opportunity to address this problem via an  app called DriveSafe.ly which  enables drivers hands free use of their mobile devices.  He recalls, "the texting while driving problem was all over the news in 2008, and when our co-worker was in an accident as a result of this problem, we became very motivated to offer a solution."  

To date Apple has paid over $1 billion to developers who receive 70% of fees earned through a purchase on the App Store.*  However, Tim cautions individuals considering a decision to pursue app development, "It is more than just about creating the new app. There are the same challenges of any new business---putting a business plan in place and having the right skills to execute a marketing plan.  It takes more time and focus to be successful than some people do not realize going in."  

Tim also sees a major change occurring since the first apps were created a few years ago that were focused on the individual user of the phone.   He explains, "Now large corporations see the value of apps, and are hiring  app development companies to create mobile device apps for their company that meet the needs of employees and customers.  It bodes well when corporations such as Major League Baseball have entered the app arena  stimulating job creation and providing greater revenue streams to development companies."  App development revenue potential has been furthered by competition among the manufacturers of cell phone such as Google's Android and RIM's Blackberry that have initiated their own app development communities to counter the App Store.