Write up a paper that includes the following sections:
Analyzation of your target customer
Name your target customer
Describe their most concerning problem. Show your research on how you found this.
Identify the current solutions to that problem and the positives/negatives of the current solutions. Explain clearly the “curve” the current solution is part of, and if possible the previous “curves” for this problem.
Create a new solution that solves their problem better than anyone else in the world (“Jump the curve”). Explain how this is a “radical innovation”, as compared to an incremental or even a disruptive innovation.
Your motivation
What is your connection to this problem? How are you connected/understanding of this targeted customer? Is this connection based on personal experience, or research, or both? Why are you able to be a “champion” for this target customer? How committed are you to making this really happen? (Think about this not just as an academic assignment. How are you really connected to this target customer?)
What would make you quit?
Pictures and details of your prototype (you may need to use a maker space to complete your prototype). Show what the MVP (minimal viable product) is for this solution, with this prototype.
Your needed team/network
Detail what individuals/skills will be needed to get this product/service ready to “ship” to the specific target customer you are trying to help.
This might include (but is not limited to):
Employees,
Partners,
Advisors,
Technical skills/experience/proficiency,
Marketing skills/experience/proficiency,
Production skills/experience/proficiency.
Customer Experience
Explain how your customer would interact with your solution and why your customer would choose your solution over the competition.
Estimate how much your customer would pay for your solution and how long it would take to actually get this product/service to market for your customer to purchase
A “pitch” to potential investors/customers.
REMEMBER: This is not a sales pitch of your idea. It is a communication of the following with the goal to get authentic and meaningful feedback about your solution idea:
Your budget, including the contracting of employees, R&D costs, facility and logistics costs, marketing and sales costs
