This is Our PROCESS
Stage 1 will take the problem through ideation, design, R&D, testing; till “Proof of Concept“.
Stage 2 will help create a Business out of it.
MY PREVIOUS JOBS
step by step consulting guide
“Problem to Proof of Concept”
- We hope you SHARE your post covid operational problem on the site and we will bring it to our social media pages.
- We will also list the number of people who have shared the same problem.
- The problems that we take on will not just depend on the numbers of people it affects, but also on a workable “Seed Idea” that can get that “Project” off the ground.
- Seed Idea: We will offer a solution in sketches and words as a start off point. This solution will be curated from the ideas being generated in the discussion forums on FB, and be curated by the Creative Head and approved by the Core Committee.
- Activation: Once the seed idea is approved, two things are required, Budget and Team.
- Budget: A base budget may provided through the initiative, philanthropists, corporate participation etc but the main budget will be expected from the linked crowdfunding site. Once we see the pledges growing, we could even borrow an equivalent amount of money from a panel of investors and use it for the development.
- Team: The moment a seed solution is approved, we will select a minimal team of professionals required for individual projects. This will generally include at least one designer and one engineer. This selection will be done through the database collected on the site when people fill up the form “Professional Service” on the home page, and through the FB page. This selection will be approved by the Core Committee.
- Timelines: Initial timelines will be proposed to bring the seed idea to a stage of “Proof Of Concept” as a prototype or a mock-up, whatever is possible within the given time, expertise and budgets.
- Proof of Concept: This is where Stage #1 comes to an end. The deliverables of this initiatives at the end of this stage is the Proof of Concept, Design Renders of the actual visualised Product, approximate costs and manufacturing parameters. Business Plan etc is not essential till this point.
Professional FairPlay#1: Every consulting and working member of the team on each project will be eligible to a stipend per month during this R&D stage. This will be discussed separately.
“Proof of Concept to Business Venture”
- Entrepreneurs will be invited to explore these projects as business ventures, and the selection will be done through the database collected on the site when people fill up the form “Entrepreneurs” on the home page, and through the social media pages. This selection will be approved by the Core Committee.
- The Idea to Entrepreneurship exercise would be done through the “Transfer of Technology” initiative of FIIRE. The entrepreneurs would need to invest a part of the of the cost of the project till end of Stage#1.
- Incubation would be offered by FIIRE to take these ventures off the ground with the option for availing seed-fund through the Govt of Goa and affiliated Investment groups.
Professional FairPlay#2: The Stage #1 development team would be given the first right to be entrepreneurs in the business, but they should be complete with a business head in the team. If they do not want to get into a business scenario, the initiative could be handed over to different entrepreneurs (if there are). The new entrepreneurial team would have to pay the earlier team their dues since in Stage #1 they were paid only a nominal amount. These dues will be capped at a pre-discussed amount per month for each professional and would be secured from the entrepreneur’s investment.
If the project does not get an entrepreneurial taker, then it will be considered as a shelved project and in 6 months time, it can be deemed as an unsuccessful project.
Professional FairPlay#3: The Founding team will have the option to take a small stake in the venture or would take the option of a percentage of sales for 5yrs etc (3-7%).
IPR FairPlay#4: Provisional Invention Patents will be filed, but only so that there are records of the origins of the idea (so that no-one later can file a patent and stop any of our incubates from selling the product).
Complete Specification Patents would not be filed because this is an open sourced idea development initiative and its fair to let anyone use the ideas and develop their own products as well. The Product design itself could be design copyrighted anyway by the ventures to stop others from copying.