Ignition Lab Selection criteria, Evaluation and Timeline Ignition Lab C e n e r t E n o r f n e p e r r t h s u e r p i
Objectives of the Ignition Lab • To develop a Proof of Concept for viable business ideas • To develop an appropriate Prototype to establish the proof of concept
Ignition Lab – The Steps The Ignition Lab ensures that students go through : 1. Team Formation 2. Commercial potential 3. Demonstration of Proof of Concept 4. Creation of Prototype 5. Pitching in front of Business houses/Investors
What Team Work Can Do? Team Formation Commuters use people power to free man trapped against platform at Perth's Stirling station. • Need to form a team at this stage • Essentials of team formation • What to look for while choosing your team? Ignition Lab 1. Are you birds of the same feather? 2. Do you all have complementary skills? C e n e r t n E o r f n e p e r r t h s u e r p i 3. Can the team help you achieve your short-term and long-term goals?
Grooming the next Apple at the Ignition Lab? What are the kind of ideas we are The Apple-1 went on sale in July 1976 at a price of $666.66. About 200 units were produced in expecting from you? total. Good, Great …..Insanely Great Ignition Lab C e n e r t E n o r f n e p e r r t h s u e r p i
Ideas are selected based on • Preliminary commercial potential/customer feedback • Technology intensity of the product/service • Capacity of the Team to take the idea to a logical conclusion Ignition Lab • Approximate time, resources, Funds and mentoring needed to establish Proof-of-Concept C e n e r t E n o r f n e p e r r t h s u e r p i
Important questions for the teams Inside MIT Media Lab This is how the Ignition Lab would look seven months from now. • Do we have a clearly defined Product Development Plan marked against a timeline? • Is there a real innovation or need? Ignition Lab • Is it market ready? • Is it ‘just another’ mindless dotcom website? C e n e r t n E o r f n e p e r r t h s u e r p i
How it works? • Support in team formation to achieve optimum results • You are mapped to mentors from the campus (Professors) and beyond (Industry Leaders and Experts) Ignition Lab • Extensive one-on-one interaction with members of the Centre to better understand your team’s strengths and needs C e n r e t E n o r f n e p e r r t h s u e r p i
How it works? (Important Note) • As part of Ignition Grants, appropriate initial funding will be available which can go up in case of ideas requiring additional work • Credit distribution would be 3+6 across the two semesters • Team size limited to 4 unless working on project of extraordinary scope
Key Deliverables by March 15, 2015 • Team Details • Plan of Action • Market Research Methodology • Product Development Timeline with clearly defined milestones • First team presentation due by Mar. 15, 2015 and should include • Justification for choosing a particular team • Preliminary product idea and a two page concept note with fund requirements • Other details as included in the format supplied by the Centre for Entrepreneurship
Key Deliverables from April – Dec. 2015 • Mentors will be provided depending on the scope of the work and Funds. • Systematic Product Development Plan with regular and independent feedback reports from the Centre for Entrepreneurship (weekly) and Mentors (Monthly). • Presentation in September 2015 to the internal Jury justifying each block of their Prototype Development Plan and further Fund Request.
Key Deliverable for Dec. – Feb. 2016 • Final Presentation - Pitching before SINE / Business /VCs and external Jury - Demonstration. • Teams receiving average/below average ratings during Pre- Pitching sessions (December 2015) must execute changes as suggested by the mentors.
Proposed Timeline • How to form a winning team? How to do it? Defining the problem? Ideation • Timeline: January-March, 15, 2015 Preliminary Presentation in April 2015 before final green signal to teams • Systematic product development with mentoring • Timeline: April-December 2015 Developme nt Ignition Lab First Stage Presentation in September 2015 for review • Final presentation before jury and investors • Timeline: February 2016 Pitching C e n r e t E n o r f n e p e r r t h s u e r p i
Basics of Marketing • The Management Process responsible for identifying, anticipating and satisfying customer requirements profitably • The Marketing Mix 4Ps • Product • Pricing • Place • Promotion (Awareness, Interest, Desire, Action)
OPTi Global Marketing Strategy • Gave Far East Mfrs Time-To-Market (TTM) over US mfrs • Educational Seminars in Far East • Launch with Press Release with 3 Key Endorsements • Flooded Comdex at Every Far East Booth with Standard no- name Motherboard • Demo rather than Technical Manuals
OPTi Global Marketing Tactics • Product in Stock: available immediately • Turn Key Mfg Package (TMP) includes Film, BIOS, Manuals, U/L certification, Marketing Material • Instant Payment: Taiwan L/C vs 30-60 days for A/R in the US and Europe • Local language Sales and Tech support • 2 week trip to Far East, every 6 weeks • Sales support in the US and Europe
Selectica Global Diversification Strategy: Complete Solutions • Built up pre-emptively 400-person strong Tech Team in Pune and Chennai • Prepared pro-actively “mock-ups” for Global companies like Hitachi and Samsung • Provided on-site resources in Korea, Japan, India, US and Europe cost-effectively • Crack a vertical in US, expand globally (IBM …. Target Hitachi; Cisco….Target Samsung; Dell…Target NEC)
Dyyno – OTT Broadband Services • The odds: • Video is free: Youtube, Justintv, Ustream • TV and Movies is mature industry • 5 years late: Neulion, Brightcove, Ooyala • In 3 years (2011) • 500+ TV channels using Dyyno • 300,000 broadcasters using dub • Cable companies, worldwide, licensing discussions for Dyyno OTT platform
Dyyno B to B2C Globally: Niche Market Targetting • US market for on-line Video saturated • Found Malayalam online TV customer: BOMTV • Round the Clock support in Malayalam from the US initially, then Pune • Built FULL online TV distribution/billing platform with help from BOMTV • Used Reference and Full Platform to Target: IPWORLDTV for Turkey (http://www.ipworldtv.tv) ; Ghana TV, etc
How Global helps your Business • New Markets • Extends Sales life • Diversify … stabilize business cycles, currency fluctuations, payment variations • Less competition generally • Attack Foreign competitors in home ground • Economies of scale • Improve your product line-up • Improve your Supply Chain
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