Student Product Design and Entrepreneurship Assignment
Deliverable dates are spread throughout the quarter
The student selected projects are the primary project of MAE154. Students will identify their own project areas and form teams of 3-4 students around those projects. During MAE154 students will develop simple non-functional prototypes of their design concepts, risk reduction hardware, and a business plan. The final of MAE154 will consist of presentation of the product concept to a panel of experts from the San Diego area who will select winners to receive $1000 in funding to be used for project continuation.
The requirements for the projects are:
There must be potential users of the product that students can interact with so that high quality feedback can be provided.
It must be possible to fabricate a functioning prototype within the time and resources constraints of a capstone design class at UCSD such as, BE187, CSE145, MAE126B, MAE155B, MAE156B, ECE191, or other class. Note, in order to continue the project in another course the team must receive instructor approval.
The product may be for profit, or for a non-profit objective. However, all products must have a plan for financial implementation.
The judging of the projects for the cash awards will be based upon the probability of bring a product to market, not necessarily the total profit potential of the product. For example a concept that has a 50% of coming to market and making $500,000 will win over a product that has a 10% on coming to market but could make $100,000,000.
Deliverables
1. Need Area Identification First Iteration. Individual assignment which identify 3 need areas. Due week 2.
2. Teamformation and selection of top 2 concepts. Due week 4, 10/26.
3. PreliminaryPresentation to panel of von Liebig Advisors. Week 6, 11/5.
4. Intermediate Peer Review. Due Tuesday at 5pm of week 7. Feedback results are informational but do not impact course grade.
5. FinalPresentation to panel of experts. Finals Week, 12/13. 11:30am-2:30pm.
6. Final Peer Review. Due at 5pm on day of final. This does impact course grade.
7. Final Logistics
Each student will write up 3 unmet need areas, where a product could be developed. Each need area will be posted on private class website, along with a short description of the individual to help with team formation. While student material is posted on a password protected site, there is no implied confidentiality of these ideas,and students who are concerned about the value of confidentiality of their concepts should not include these concepts as part of MAE154.
Each Need Area should include:
Title
Description of unmet need.
One or two possible design solutions, even if very vague. For each design solution, list:
List of All Groups Impacted by the Project Including: Customers, Sales, Distributors, Installers, etc. (indicate which you expect to be able to interview)
High Risk Technical Areas and Possible Risk Reduction Tests
High Risk Marketing Challenges and Possible Minimum Viable Product
Sources of Income (include estimates of quantity and dollar amounts if possible)
Relevant Links
Summary
Upload Logistics
Upload proposals to https://sites.google.com/a/eng.ucsd.edu/mae154-projects/
Use only your designated area.
See example at: https://sites.google.com/a/eng.ucsd.edu/mae154-projects/fall-2012/nathan-delson
All student concepts will be shown in class on 10/24 and class time will be provided for team formation. Students are encouraged to begin the team formation process earlier in the class. Teams will sign up for a meeting with the instructor on 10/26 and present their top 2 need areas.
On Friday November 2, each team will have the opportunity to present to Rady MBA students. We will get feedback, and both engineering and MBA students will be invited to mingle over lunch, and and possibly join together on the same team.
Logistics
Meet at 11:15am in Otterson hall room MPR2 (the room is the same level as RIMAC ,one floor above the parking lot level). If you cannot make this time please let Dr. Delson know the earliest that the majority of your team can be there.
Post your presentations at the link below AND Bring a 3 minute powerpoint on a USB stick.
https://sites.google.com/a/eng.ucsd.edu/mae154-projects/fall-2012/rady-presentations
Printout copies of the PowerPoint for use during your networking
Hand in one copy of the slides to the instructor AND a list showing the tasks that each tam member is assigned to for the upcoming week.
Presentation Material Should Include:
Description of unmet need.
Description of top design solutions under consideration. Use figures!
Target customers including early adopters as well as wider target customer base.
Competing products and solutions.
High Risk Technical Areas and Possible Risk Reduction Tests
High Risk Marketing Challenges and Possible Minimum Viable Product
Break Even Analysis slide, showing the number of units it would take to break even. Material in the course pack p. 68-78 can be used to estimate costs.
Summary of why you want to pursue this product.
Questions you have for the audience.
Same as presentation at Rady School but expanded to 8 minutes and updated to reflect feedback. Make sure to include:
Images of competing products and how user needs
Illustrations of design solution(s) under consideration.
Layout schedule for rest of quarter including key milestones
Bring props! Spend some of your money!
Printout 5 copies of your slides.
Prepare a 1-2 page status report
Include list of milestones and a Gantt Chart
Respond to issues raised during the prior presentations and meetings. Bring the hardcopy of the PowerPoints which have the instructor comments on it.
Include a list of questions the team has which can relate to market research, fabrication, patents, etc.
Update your PowerPoint pitch incorporating comments from prior presentations. You will quickly go through this at the beginning of the meeting.
Bring 2 printouts of your powerpoint (we will use printouts instead of a projector)
Bring prior presentaitons with instructor's coments on them.
Bring a figure (prepferably CAD) of your designs.
Bring your best estimate fo costs for:
Building a high quality prototype
A break even analysis, including manufacturing costs.
Bring a 1-2 page status report showing:
High risk technical issues
High risk marketing issues
Update on risk reduction efforts
Milestones and a Gantt Chart
Include a list of questions the team has which can relate to market research, fabrication, patents, etc.
Details will be posted