students will be required to create an innovative
Fintech product, process or business of their choice.
Students will be required to use current and live
markets conditions in assessing the potential
risks and benefits of their projects.
A GUIDE TO HELP YOU IN WRITING YOUR
IDEA AND ITS BUSINESS PLAN
(YOU DON’T HAVE
TO FOLLOW THIS GUIDE STEP-BY-STEP IF YOU DON’T WANT TO; EVEN IF YOU DECIDE TO
FOLLOW IT, YOU DON’T HAVE TO COVER EVERY SINGLE POINT, NONETHELESS YOUR FINAL
WORK SHOULD COMPRISE ALL THE RELEVANT ASPECTS THAT ARE REQUIRED/USEFUL IN
PRESENTING A COMPANY WITH THE GOAL OF RAISING MONEY FROM THIRD PARTIES.)
1.
IDEA DESCRIPTION +
STRATEGY
a.
category/area
b.
expected time to Minimum Viable
Product (MVP)/Proof Of Concept (POC) or to get to the next stage of development
(if MVP/POC has already been achieved)
c.
the need you are solving or the
challenge you are tackling
i. what is the business or consumer need, technological challenge or
market opportunity behind your innovation?
d.
approach & innovation
(competitive advantage)
i. what approach will you take where will the focus of the innovation
be?
ii. what are your competitive advantages?
e.
team & resources
i. who do you need in your team? and why?
ii. what are their roles and how many are they?
f.
market awareness
i. what does the market you are targeting look like?
ii. competitors, new entrants, clients, suppliers, barriers to entry,
substitutes, …
iii. how big is this market (revenues of existing players)
g.
outcomes & route to market
i. how are you going to sell your product/process?
ii. what is the long-term plan to grow the business?
h.
project management
i. how will manage the project effectively?
ii. Timeline, phases, responsibilities, …
i.
risks
i. what are the main risks for this idea/plan?
ii. possible mitigations?
j.
a one-paragraph “elevator
pitch” description
2.
BUDGET (TO GET TO THE
NEXT STEP OF DEVELOPMENT)
a.
on an annual basis (although
start-ups usually think in months or week planning, to make things easy we
require only annual budgets)
i. labour
ii. overheads
iii. materials
iv. sub-contractors
v. data
vi. pp&e
vii. ….
b.
The budget will be the starting
point to establish the funding sought
