Preparing for Elevator Pitch

Adoptability

• What are the considerations that will affect peoples’ decisions about whether to adopt and use your design idea.
• Having a relatable pain point of losing items.
• Are there potential barriers that will slow down adoption, or that you’ll need to overcome.
• Yes - having an app is a huge barrier to entry for the individual, but if I was to partner with educational institutions off the get-go that would resolve this problem.
• What aspects of the existing situation will need to change?
• None - people will always lose things.

Pricing Model

• What’s the pricing model for your idea?
• SAAS monthly subscription service for institutions.
• Is there an upfront cost? Or a subscription cost?
• Subscription - 500 bucks a month.
• Are there any rebates or other financial incentives that will help lower the cost and reward the behavior?
• Maybe we can give partner discounts to institutions/nonprofits.

Sustainability Impact

• How does your design idea improve sustainability?
• It reduces the amount of items from Lost and Found areas that ultimately end up in the trash because of the lack of claims.
• How big is the problem now? What’s the baseline that you’ll compare your idea to?
• The problem is universal, much like standing in lines when shopping. It is a huge inconvenience.
• What delta will this make? How can you quantify or measure the impact of your design idea? And how big a difference could your design idea make?
• Small impact, but towards large amounts of people worldwide.

Competitive Advantage

• What else is available to your users now? What options do they have?
• None.
• Are there other products or services that promise similar results?
• No.
• How do you compare to them?
• I will be the first in the market.

Use of Design Thinking / Human-Centeredness

• How does this design idea address the essential need identified in your POV statement?
• It is able to more efficiently streamline the process of returning lost items to owners!
• How did your design idea evolve based on the steps in the design thinking process? (Observing > Interviewing > Defining a POV > Ideating > Prototyping > Testing > Interating)
• It helped me ideate and create even more effective solutions as I talk to more individuals and try to gather data throughout the market.

What’s the Roadmap?

• Is there an path of future development that could evolve from and extend your design idea?
• Yes, the technology of computer vision and customized questions based off of the products scanned can be applied across different industries like garbage sorting or inventory management!
• How could your design idea grow?
• It could start off small at Baylor or Stanford and grow to all the educational institutions across the US.