IDEA GENERATION
Idea Generation
Getting started with our Idea Generation, we kickstarted by giving the other team members a quick insight into each individual's idea and how we would think it could be a good proposition to be transformed into a beneficial project.
In a google drive excel sheet, we rated the ideas based on the most important elements given in class.
After examining the winner due to its average points, we brainstormed whether the particular idea could factually be transformed into a proper business - the outcome was overall positive and we had the found the base for our start-up-project.
Submitting the main aspects of our idea into the 'Business Idea Form' helped us to get an overview of our problem setting, how to address and eventually overcome it and which people will form our target group. Preparing this kind of written concept statement helped us to unearth critical components of a potential venture and hence, conduct proper research of key factors that may have to be thoroughly addressed in our business plan. With the help of the concept statement, our group was able to evaluate the business idea more effectively for potential challenges and obstacles.
The idea is to innovate the check-out-system in every-day shopping life of our customers. We are connecting the ordinary receipt generation to an app, while automatically organizing their expenses into certain categories.
When the customer goes grocery shopping or does any other type of transaction, instead of giving them a paper-receipt, the person shopping can use a Bluetooth technology in order to receive a digital receipt. It then goes directly into a system on his/her home computer or an app on his/her phone and organizes it into a category of spending (whether it might be food, clothing, gas, etc.).
The same goes for transactions at the bank - the slip from the ATM that they can get at the end might as well become irrelevant, as they can directly let the receipt be sent to their app. Hence, it saves a lot of printing, paper and plastic costs which is good for the environment plus the fact that organizing the customers lives in terms of expenditure-tracking and tax declarations.
In return, the retailers improve their image in terms of environmental consciousness and help to make the planet go green!