We’ve survived the wind and the snow that’s blistering through Wales for week 5 of Enterprise by Design. After last week’s PechaKucha presentations, students were challenged to take this week and formulate more concrete ideas of their business plans.
If you’ve missed out on what’s happened last week, check out our video below!
Idea Generation Week
It’s no wonder then, that this week is called Idea Generation Week! All of the assignments of previous weeks are coming together to create scenarios with location based technologies. Our blog mentioned in weeks one and two that the teams had to create tourist personas who would possibly come to North Wales, and a map of their supposed activity.
This week, students were asked to think of 8 location based technologies that could be used by their tourist profiles, and how those technologies could be used in Wellness Tourism for North Wales.
In two rounds of 15 minutes, each team had to come up with as many ideas as they could in one big, frenzied, brainstorm session. Using technology such as GPS, Wi-fi, NFC, GIS, Bluetooth or iBeacon, teams had to come up with scenarios where these technologies could be used and beneficial to customers.
Ken (tourism profile) travels to Menai Bridge (location context) and uses Bluetooth (Location based technology) to pair with an app for Rib Ride that provides audio tours or travel financial tips during and after Ken’s tour (finance wellness dimension).
Teams had to make sure that each of their ideas had a persona, context, technology and wellness dimension, and if the combination in those ideas didn’t make sense, well, time for some more idea generation!
Before the challenge, students filled up on hearty chili con carne, and boy did they need it, because their next challenge involved a bit of conceptual thinking and estimation.
Based on the ideas of Enrico Fermi, students were asked to estimate the market value of their concept. For those of you more skilled in this area, here is an example of the equation needed to get the average geometric mean, in order to estimate the statistic.
As the night came to a close, the students took their brainstorming ideas and chose the 4 most solid and viable plans for next week’s challenge. The snow this next week might be hindering things in Bangor, but hopefully it’ll give teams some extra time to formulate their concepts, and be ready in the coming weeks to present their winning ideas!
With the teams having narrowed down just four ideas per team, their homework this week is to take one idea each and estimate the market size with the equation that was given to them. Good luck to the mathematically-inclined this week!
There is only 3 weeks left in our challenge, and the clock is ticking for our groups to come up with a solid business plan. Check us out on twitter at @EBD_Bangor for updates and photos of our last few weeks and the reveal of the winning team in March!