ASSIGNMENT EF509

My Future Business Model

For my final year undergraduate project I am planning to develop an
autonomous underwater vehicle (AUV) along with two of my friends. If it is a
success it will be the first of its kind in Sri Lanka.There we hope to integrate
many facilities such as a wide range of autonomy, ability to operate in
unknown waters, remote monitoring and control, and enhanced motion
control. The main disadvantage of present AUVs are they have to be tethered
since wireless communication under water is not possible with prevailing
techniques due to high attenuation of signals. But we hope to make use of
visible light communication which gives us the luxury to remove the tether
between the robot and the user.
These types of robots can be engaged in undersea explorations for natural
resources, ship wrecks, sea bed examination and marine life. Since this is a
highly engineering product it is not aimed for public market. Companies
involved in sea based businesses can demand customized UAVs for their
specific tasks. For example a ship repairing company would not want a full
autonomous robot. They might want a semi-autonomous robot that the user
can control the robot. Also for a company that investigate about marine life
would want a more intelligent system that would for example capture
unusual behavioral patterns of a particular type of species.

Areas for the Investment of Business

1. Materials for production
2. Factory equipment
3. Labor
4. Marketing and advertising
5. Repairs

Funds for Investments

For now the robot is under design. Its controls and machine learning
algorithms has to be improved and optimized. Lanka Transformer Limited
(LTL) has offered to sponsor for the expenses for the project. After the design
is completed and the relevant tests are done it is ready for mass production.
LTL has agreed to fund in every investment when it comes to mass
production.

Skills to Manage Funds Effectively and Efficiently

1. Anticipation and Estimation
2. Time management
3. Resource management
4. Leadership Skills
5. Analytical and Evaluation skills