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Innovation Challenge Reflection Report

Innovation Challenge Reflection Report

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Published by: Crowdsourcing.org on Jan 12, 2013
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08/29/2013

 
 
June 2012
croWDFunding
 Innovation Challenge Reflection Report 
Young Leaders League
2011/2012
Group 4:Joske BrouwerRichard Deuchler Anouk HofmanPeter HutCostas KaloudisCoach: Codrin Kruijne
 
 
Content
1.
Project description ....................................................................................................... 1
2.
 Academic reflection ...................................................................................................... 5
3.
Ethic reflection .............................................................................................................. 6
4.
Impact reflection ........................................................................................................... 7
 
 
 1
1.
 
Projectdescription
 Adescriptionoftheprojectandproduct(creativity,innovation)
Our innovation challenge can be split into different stages. The first stage was to get toknow each other and to discover what our common interests are. Already during the firstmeeting we decided that our challenge should fit into the topics of entrepreneurship & eth-ics and sustainability & growth. After having defined this framework, it did not turn out to bevery easy to identify a concrete challenge… until we came across the Laki Laki project. Thisproject seemed to fit our common interests and within the project there were more thanenough possibilities for challenging innovations: introducing biodegradable/reusable bottles,QR-codes, crowdfunding (and setting up a marketing campaign), sustainable milk produc-tion methods, etcetera. The most important reason why we chose to find an innovationchallenge within this project was that the Laki Laki project intends to do something good inKenya. To define the perfect challenge, we first had to get to know the project itself though.Therefore, we decided to set up the marketing strategy for Laki Laki, while using the methodof crowdfunding(http://www.wekomenerwel.nl/afgesloten-campagnes/laki-laki).We discovered that crowdfunding is a rather new way of funding a product or an idea: ‘thecrowd’ funds it. Although the concept seemed to be very simple, we found out that lots ofcrowdfunding campaigns fail: they are not able to get enough money. We got curious andwanted to know why this failure rate is so high and more importantly… could we do some-thing about it? After having done the crowdfunding campaign for Laki Laki, we kind of had an ideawhat crowdfunding entails and what aspects are of major importance in every crowdfundingcampaign. We also discussed and tested our findings with people who call themselves veryexperienced in crowdfunding, such as Ronald Kleverlaan and Korstiaan Zandvliet.In March, we wrapped everything up and started to create our own method on ‘how tocrowdfund successfully.’ We developed a so-called six-step action plan (see below). Theidea is that if you are willing to fund your product or idea by using the crowdfunding meth-od, you should at least be aware that you go through all these steps. If you miss one, thechance that your crowdfunding campaign fails increases considerably.

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