Fastrack Workshop 3.1
Friday 7th May 2021
1. Team Cyrcle
Fastrack team page: fastrackatmonash.com/team-cyrcle
How might we redesign product consumption & waste management systems for consumers & households so that it is more convenient and help them produce net-zero waste?
[Progress between Bootcamp 3+ Workshop 3.1]
- The team met with Visy to analyse possible solutions for packaging. It was advised that there are some challenges with current regulation surrounding food packaging and that cleaning packaging is resource-intensive. Visy can offer recyclable solutions for corrugated fiberboard and plastic (only PET or HDPE).
- The team has analysed cost structure and revenue streams for the solution with the aim of determining unit economics.
- The team has updated hypotheses related to the solution to test in the following weeks with MVP
[What the team needs help with]
- The team is looking for connections to understand logistics and streamline challenges, complexities and understand cost structure.
- Team is looking for potential customers willing to buy the products and test the service during the following weeks.
- From the wider community reading this blog, the team is calling for people who are interested in this space, to schedule a chat with the team and input their ideas or any help. (Contact: teamcyrcle@gmail.com)
[Actions between Workshop 3.1 and Workshop 3.2]
- The team will define the basic kit to be delivered to certain customers and analyse the cost per unit (including all logistic costs). Cash flow will be prepared with this information to determine if the products’ price is competitive considering similar offerings in the market.
- The team will develop the prototype for the marketplace. The team aims to obtain the following information: type of products that the customers want to see in the marketplace, preferable type of packaging (reused, recycled, or made from raw materials), preferable delivery and pick up mode.
- The team will be testing their solution manually with a few customers to validate the interactions, get data regarding usage, delivery and pick up logistics and test the product offering.
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2. Team Men in Slack
Fastrack team page: https://www.fastrackatmonash.com/team-men-in-slack
How might we create opportunities for artists so that they can diversify their skills to achieve common goals?
[Progress between Bootcamp 3+ Workshop 3.1]
- Team Men in Slack spoke with artists to get them on board for the MVP testing. Some of them have already replied and agreed to be part of the testing.
- The team continued their interview with artists and validated their interest in NFT space. The majority of the artists are keen on diversifying their works to the NFT space.
- The team’s research and the validations from the artist’s side helped them form a possible solution around the NFT space to test out with the MVP.
[What the team needs help with]
- At this stage, the team has decided to validate all value proposition using the MVP. Any advice on the same when contacted will be beneficial.
- The team would like to talk with art experts (preferably gallery managers and art curators) in the art industry. Any help to connect with them will be great.
[Actions between Workshop 3.1 and Workshop 3.2]
- The team will be ready with the website for the MVP testing and will also draw a plan to drive traffic through marketing.
- Men in Slack will also sign in artists to put their work on the website.
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3. Team Vikings
Fastrack team page: https://www.fastrackatmonash.com/team-vikings
How might we redesign the social experience For OTT/subscription media users so that it is more interactive and engaging for them?
[Progress between Bootcamp 3+ Workshop 3.1]
- The team has spoken to 6 users and 5 expert advisors. The team has also spoken to founders in the same space back in India.
- The team has validated the core functionality and built out a roadmap towards MVP
- The team has broken down the technology architecture with the help of an IT expert to determine basic costs and feasibility
- The team has started to work on their business model canvas
- The team had a meeting with Alex Crow, Head of Stakeholder Management from Richmond Football Club who has expressed interest in the concept from a B2B perspective.
[What the team needs help with]
- The team is currently building out the financial estimates and costing. They are on the hunt to speak to a full stack developer(s) to understand the technical feasibility and the costs involved
[Actions between Workshop 3.1 and Workshop 3.2]
- Have a basic understanding of the technology overlay
- Start building the landing page on Wix to test it out
- Start working on the prototype on Figma/bubble
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4. Team orIDgin
Fastrack team page: https://www.fastrackatmonash.com/team-oridgin
How might we overcome students cheating on exams and assignments so that the integrity of the university can lead to a better student learning experience?
[Progress between Bootcamp 3+ Workshop 3.1]
- Making their services blueprint and making changes based on the feedback received from the industry expert
- Constructing their Business Model Canvas
[What the team needs help with]
- Identifying loop holes on the progress that the team has done
[Actions between Workshop 3.1 and Workshop 3.2]
- Finalizing their Business Model Canvas
- Asking feedback on their services blueprint
- Start building prototype
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5. Team 52Hz
Fastrack team page: fastrackatmonash.com/team-52hz
[Progress between Bootcamp 3+ Workshop 3.1]
[What the team needs help with]
[Actions between Workshop 3.1 and Workshop 3.2]
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💥 💥 💥 Well, folks, that’s a wrap of Workshop #3.1, in the next Workshop we are taking our Fastrackers out of the classroom and into the offices of Amazon Web Services to see what the internal venture teams are up to. Student start-ups will be presenting their prototyping methods, learning about new ways to prototype and have a chance to network with some of the AWS staff.
Our Prototype Showcase at 30 Collins street in Melbourne’s CBD is coming up on Friday, May 28th, if you haven’t already RSVP’d for your spot — do so here!
If you see anything above that sparks an interest or that you would like to discuss further please reach out to anna.rysenbry@monash.edu or comment in the#fastrackexpertadvisors Slack channel if you are an expert advisor and want to get in touch with the teams directly.
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Well, if you’ve made it this far we assume that you might like what we do. To find out more about Fastrack @ Monash head to fastrackatmonash.com
In the Entrepreneurship Portfolio at Monash, we’re always up for a coffee and a chat. If you’d like to catch up with the team to discuss entrepreneurial endeavours, getting involved in our units or the Fastrack @ Monash program, tee up a time to meet with us.
