Weire a report including group presentation participation. YOU HAVE TO WRITE ABOUT SUMUP PART. CREATE A FINTECH COMPANY AND COVER THE FIOLLOWING ASPECTS 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
