After learning to design and build a start-up, the final week was about venturing out. Our mentors felt that we were able to build breakthrough start-up ideas and left everything on us. The hiring process, building prototypes, designing products and pitching it to investors. We chose our teams last Saturday and had the whole week to work on our start-up ideas. We had to submit our venture submission packets that consisted of our prototype, lean canvas model, splash page and pitch deck by Friday. Most teams took as late as Wednesday to finalize on their start-up ideas. The thought they put in proved to be worth the time put in. Some of the ideas turned out to be absolutely brilliant. Saturday was spent evaluating each others’ ideas. On Sunday, everyone got to impress potential investors who visited their tables. Top five teams, based on our evaluations, got to present to the jury. Of these, the top three won seed money.
Sum of the ideas I liked (the first being my own), explained in a line, were:
- Paper-based bio-sensor to detect carbides in fruits by a change in colour on contact with exposed area of fruit.
- A Coursera for the unskilled to train the front-line employees in an organization, resulting in improved user experience.
- A community of users who pledge to keep their Wi-fi network accessible to other users from the community.
- A user-based review system that provides free products to users, and cheaper feedback and publicity to brands.
- An online platform to buy wigs, aimed at patients undergone chemotherapy.
and many more…