Innovation Project Final

INNOVATION AND TECHNOLOGY TRANSFER

Your final innovation project must contain the following:

Progress 1

1. Team members and proof of Hult Prize registration (3 to 5):

2. Brainstorming session: Using Design Thinking each group must present at least 20
initial ideas.

3. Evaluation of ideas: Evaluate the four best ideas using the feasibility matrix.

Benefit Feasibility

Environment Business Customer Society Technical Financial

Idea #1

Idea #2

Idea #3

Idea #4

4. Description of the best idea: According to the previous evaluation, choose the idea that
the group considers to be the most viable, then write a description of the problem it helps to
solve and the solution (value) it proposes.

5. Initial strategy: Define the purpose, mission, and vision of your project.

6. Internal and external analysis: Work on a SWOT analysis of your potential business
venture.

Strengths Opportunities
 Weaknesses Threats

7. Market analysis: Based on preliminary research, work on a brief market analysis that
includes the following aspects:

- Who will be my clients?

- What are my three main competitors?
- Where will I find my suppliers?
- Any substitute products in the market?

Progress 2

8. Business model: Present your business model in the Lean Canvas template provided.
Each element must be well-defined according to the instructions given in class.

9. Prototype: Present the prototype according to your specific solution. It can be a video,
landing page, mock-up, etc., where you clearly explain the functionalities of your
product/service. Additionally, you need to propose an instrument to collect data from
potential users (it can be a survey, a QR code, etc.).

10. Validation process: In this step, you present the prototype validation results and
analysis.

Progress 3

11. Cash Flow and Balance Point: Each group must determine its income and expense
projections and carry out the two financial exercises (cash flow and balance point) according
to the information of each project.
12. Setting up a core team: Present your core team and its
functions. Also, you can determine the leadership style that will be applied to your
organization.

13. Marketing Plan: Your plan must include the following:

- Corporate image: name, logo, colors

- Marketing objectives
- Marketing strategies according to the objectives
- Activities and channels that will be used to carry out the strategies.