Developing and Growing Enterprises with Tech
- WHAT IS ENTERPRISE DEVELOPMENT
- FIND OUT MORE ABOUT ENTERPRISE DEVELOPMENT
- PROJECTS FOR SEMESTER 1 AY2018/2019
- PAST PROJECTS
WHAT IS ENTERPRISE DEVELOPMENT
This module focusses on how to develop new or grow existing enterprises using technology.
The course is a primer on identifying & validating market opportunities, and how to create value with technology. In each session, new tools and methodologies will be presented. Teams will then apply the new tools in their search for opportunities in their specific market and technology. Teams will be challenged to confirm their conclusions through validation with externals before presenting their findings to other teams to provide constructive feedback. The rigorous process allows students to develop practical skills in communication and teamwork, as well as provide a foundation for the building up of value-creation and capturing skills.
Teams will work on projects provided by tech enterprises that will
- Define opportunity statements for student teams to work on;
- Give input to teams throughout the process;
- Challenge teams as they would any internal unit with a business development idea; and
- Inject reality to classroom exercises.
FIND OUT MORE ABOUT ENTERPRISE DEVELOPMENT
The module is led by Adjunct Associate Professor Vinod Vasnani, assisted by Lecturer Randall Sie to help guide the teams throughout the module.
Students will be provided opportunities to:
- Learn and apply market validation techniques in an experiential setting;
- Learn frameworks to evaluate customer needs and come up with viable solutions;
- Differentiate mere ideas from valid business opportunities;
- Contextualise and position presentations to different stakeholder units;
- Craft business development proposals including return on investment and internal rate of returns data;
- Hone professional and career skills; and
- Strengthen team and leadership skills.
Students will be assessed based on their creativity, team collaboration, progress made in developing their project, peer reviews and overall participation. Successful students will receive 4MCs for this module, registered under MT5920 Enterprise Development.
There are no pre-requisites for this module.
Classes will take place once a week.
In each session, new tools and methodologies will be presented. Teams will then brainstorm how to apply the new tools to their search for opportunities in their specific market and technology. Teams will then be challenged to identify and interview outsiders and the tech enterprises hosting the problem statements, to confirm their conclusions before the next session. Teams will also update on the insights from the market from the week before.
In an informal setting, each team reports weekly on their progress and presents their next steps for the coming week. Other teams have an opportunity to critique and build on the team’s efforts for new opportunity identification. Participants will get an opportunity to present their ideas, get feedback and hone communications skills.
Each team will be asked to put together reports summarizing their findings – an interim report of the top 3 promising opportunities and a final report for the most promising market opportunity with a proposed technology product as well as the business model. The teams will also create and deliver presentations summarising their reports.
Classes are on Tuesdays (6-9PM) starting the 14th of August at TechHub.
Have some questions? Please email Associate Professor Vinod Vasnani at email@example.com.
PROJECTS FOR SEMESTER 1 AY2018/2019
Opportunity sought: Point-of-care immuno-biosensors for real-time biomarker tracking in lifestyle applications
Budding Innovations Pte. Ltd. (BI) is a Singapore headquartered firm, that focuses on product and service innovation. Our technology expertise targets Life Sciences, MedTech, Advanced Materials and CleanTech. We are unique in our work on Food and Food supplements, Consumer goods, Lifestyle programs and devices, Water remediation, Waste management, among other domains.
BI is currently working with one of its startups to develop an innovative immunoassay-based biosensor technology for lifestyle applications. The objective of this project is to come up with a viable business proposition for the technology using bioengineering and business insights covering the following areas:
- Which are the relevant key markets/applications that can be addressed with this technology outside of the medical or sports-related application field?
- What is the best application design for these new applications and how can it be integrated into existing systems?
- What partnerships are required to commercialize this product in the target applications?
BI representatives will be available to provide feedback and for your team to validate ideas.
Immunoassays are currently used in a broad range of medical diagnostics and healthcare applications. The technology is applied for blood and urine antibody analysis for diagnostics applications such as allergies, diseases and pregnancy tests. Immunoassay sensors have, however, the potential to be used in other non-medical applications through non-invasive monitoring of biomarkers in sweat, saliva and urine. The technology can, for instance, be implemented in wearable devices for real-time tracking of performance biomarkers for athletes or measure the efficacy of nutritional supplements.
It is currently not possible to directly measure physiological indicators of stress outside of a clinical environment. The current generation of lifestyle devices, such as fitness trackers and other wearables, are only capable of measuring indirect stress indicators such as changes in heart rate or blood pressure. BI and its startup are currently developing immunoassay-based biosensors to measure stress biomarkers for endurance sport athletes as a tool for training optimization.
The goal of this project is to define applications and develop business propositions for the use of lateral flow immunoassay bioelectrochemical sensors for measurement of biomarkers in sweat, saliva or urine for applications outside of the medical or sports field. Target applications should be markets where the direct measurement of biomarkers creates added value by providing real-time scientific evidence. Examples of potential applications are the measurement of biomarkers for psychological stress in busy corporate professionals, or detection of the physiological efficacy of nutritional supplements.
Recommended team composition:
This project requires a multidisciplinary skillset that combines a bio-related background of Bio-electrochemistry or Life sciences field with strong Business acumen to translate scientific concepts into a commercially viable business proposition.
Opportunity sought: Developing holistic health and payment solutions
DBS is a leading financial services group in Asia. DBS is headquartered in Singapore, with a growing presence in Greater China, Southeast Asia and South Asia. As a bank born and bred in Asia, they are well-positioned as your partner to capture opportunities across the region
As part of Singapore’s Smart Nation Initiative, DBS is looking at developing holistic solutions that engages the elderly segments to help them live cashless, and live better.
For example, the POSB Smart Senior Pilot Programme have introduced the four SMARTS into their life: (1) Smart Transit, (2) Smart Check-in, (3) Smart Payment and (4)Smart fitness (please refer to the site below for more context)
However, we believe that we are only beginning this transformation and are eagerly anticipating new and interesting solutions that would help us better deliver our mission.
The questions to address are: What are the needs of the elderly? What are the new areas that these new technologies can have impact on the elderly in improving their lives and yet easy to adopt? How could these add further value to the organization? What further innovations need to happen to make them viable in these new areas. What are the potential business models?
DBS representatives will be available to provide feedback and for your team to validate ideas.
Recommended team composition: All who are interested in this area
Please refer to the below sites for their current initiatives:
Opportunity sought: Exploring new markets and uses for Dyson’s Motor technology
Dyson is a global technology company with 3,500 engineers and scientists based in the UK, US, Singapore, Malaysia and Shanghai Dyson technology can be found in more than 75 countries around the world and invests £7m in research and development every week.
In Singapore, Dyson is investing S$580 million in its future., Dyson’s technology centre at Science Park One has the latest development labs, bringing together the latest hardware and software expertise. Dyson plans to grow the Singapore-based engineering team. Located in the heart of Singapore’s start-up community and next to the National University of Singapore, the new centre’s engineering teams will focus on developing new technologies for the future. Dyson also has an advanced manufacturing centre for the making of its digital motor in Jurong where 13 million motors roll off its highly automated lines each year.
The patented digital motor has completely revolutionized the way people use the vacuum cleaner. Dyson’s cord-free machines, powered by the fastest, smallest motors in the world, now achieve the same performance as mains vacuum cleaners. Today, Dyson is the market leader in major markets including UK, France, Germany, Australia, China and Japan as well as Taiwan and Korea.
For this course, the students assigned to this statement will explore new and innovative uses for Dyson’s patented digital motor. In what are other market areas could these similar innovations be applied to? Perhaps in manufacturing, medical, industrial users? What are the further innovations or considerations needed to make it viable in these other areas? What are the potential business models?
Dyson representatives will be available to provide feedback and for the team to validate ideas.
Recommended team composition: Engineers and anyone who are interested in this area
Reference material: https://www.dyson.com.sg/
Opportunity sought: Discovering new markets for a high precise and big volume surface scanning solutions
Hexagon AB is a global technology group focused on precision measuring technologies. As a technology company with a revenue of more than 3 billion Euros it currently investing 11% of the revenue to R&D.
One of its key technology focus is scanning. For example with it’s Laser Tracker (AT960) technology including its accessories (LAS XL, 2018,) Hexagon creates accurate point clouds(῀0.2mm) for big volume applications.
As a world-wide player, Hexagon sells its products to 60% of the automotive and aerospace companies and their suppliers. (Boeing, Airbus, Embraer, Spirit, Safran, GKN, Prat and Whitney, Rolls-Royce and many more)
The questions to address are: What are the new areas that these technologies could be used? How could these add further value to the organization? What further innovations need to happen to make them viable in these new areas. What are the potential new business models?
Recommended team composition:
The team should have some members from Mechanical Engineering or Engineers with an understanding of surveying or with a sense where the manufacturing process requires a surface inspection.
Mechanical Engineering, Business and anyone with keen interest in this area.
Opportunity sought: Exploring new markets and uses for MediaTek’s NarrowBand-IoT (NB-iOT) technology
MediaTek is the world’s 4th largest global fabless semiconductor company and powers more than 1.5 billion devices a year. The company designs and creates System-on-Chips (SoC) solutions for smartphones, automotive, IoT, home entertainment and mobile communications.
NarrowBand-Internet of Things (NB-IoT), is a standards-based low power wide area (LPWA) technology developed to enable a wide range of new IoT devices and services. NB-IoT significantly improves the power consumption of user devices, system capacity and spectrum efficiency, especially in deep coverage and remote areas. Battery life of up to 10 years can be supported for a wide range of use cases.
The questions to address are: What are the new markets areas and needs that these technologies could address? How could these add further value to the organization? What would the product or solution look like? What further innovations need to happen to make them viable in these new areas. What are the potential new business models?
Mediatek is looking to evaluate various vertical market and key market to address, create NB-IoT business strategy, define product/solution requirement, create Go-to-market strategy, and identify relevant partners
Recommended team composition:
Engineering, Data Science, Business, cloud and mobile computing
Reference material on NB-IoT:
Opportunity sought: Driving Digital Transformation from Disruption to Enrichment
NEC has expertise and owns technologies in AI, IoT. Cloud, Mobile and Biometrics. The combination of these technologies has the potential drive digital transformation in many areas.
The team is to start with A.I. for Smart Cities and bring in additional technologies as needed to address the market potential.
Digital Transformation is occurring throughout the world, from smart cities and car hailing apps to robotics and A.I. By connecting all sorts of things and people, any demand and supply can be met in real-time. Digitization will transform industries to create brand new value.
New innovative ideas are needed to create new business models with existing technologies or to develop new businesses with emerging technologies.
NEC GSD is looking for new innovative ways that these technologies could be used. What are the new areas that the combination of these technologies can have impact? How could it add further value to the organization? What further innovations need to happen to make them viable in these new areas. What are the potential business models?
NEC Representatives will be present to provide feedback and validate ideas.
Recommended team composition:
Any field of engineering, science, or business domain. Cross-disciplinary skills is ideal. High-level of creativity to challenge the status quo.
This is a video of some examples of Digital Transformation:
Digital Identity driving Digital Transformation:
List of Market Opportunities for Semester 1, AY2017/2018
- Philips – Healthcare innovations for chronic disease management in aging populations
- Mediacorp – Innovative applications with chatbots & AI
- NEC – New Innovative ways/applications that biometrics could be used
- DBS – Developing Digital cards and payment ecosystem for new markets
- Dyson – Exploring new markets and uses for Dyson’s Motor and Vacuum technology
- Budding Innovations – Application of identified novel technology – carbon fibre aerogel
List of Market Opportunities for Semester 1, AY2016/2017
- Air & Vacuum Technology
- Waste from Reverse Osmosis
- 3D Printing in MRO
- LED technology
- Packaging Technology for Perishable Products