Ignition Lab Selection criteria, Evaluation and Timeline Ignition - - PowerPoint PPT Presentation

Ignition Lab

Selection criteria, Evaluation and Timeline

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Objectives of the Ignition Lab

• To develop a Proof of Concept for viable business ideas
• To develop an appropriate Prototype to establish the proof
• f 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

Team Formation

• Need to form a team at this stage
• Essentials of team formation
• What to look for while choosing your team?

1. Are you birds of the same feather? 2. Do you all have complementary skills? 3. Can the team help you achieve your short-term and long-term goals?

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What Team Work Can Do?

Commuters use people power to free man trapped against platform at Perth's Stirling station.

What are the kind of ideas we are expecting from you?

Good, Great …..Insanely Great

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Grooming the next Apple at the Ignition Lab?

The Apple-1 went on sale in July 1976 at a price of $666.66. About 200 units were produced in total.

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
• Approximate time, resources, Funds and mentoring needed

to establish Proof-of-Concept

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Important questions for the teams

• Do we have a clearly defined Product Development Plan

marked against a timeline?

• Is there a real innovation or need?
• Is it market ready?
• Is it ‘just another’ mindless dotcom website?

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Inside MIT Media Lab This is how the Ignition Lab would look seven months from now.

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)

• Extensive one-on-one interaction with members of the

Centre to better understand your team’s strengths and needs

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• 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

How it works? (Important Note)

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.

Ideation

• How to form a winning team? How to do it? Defining the

problem?

• Timeline: January-March, 15, 2015

Developme nt

• Systematic product development with mentoring
• Timeline: April-December 2015

Pitching

• Final presentation before jury and investors
• Timeline: February 2016

Proposed Timeline

Preliminary Presentation in April 2015 before final green signal to teams First Stage Presentation in September 2015 for review

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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