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Students entering the Challenge are strongly encouraged to subscribe to the STIC on-line mailing list or join our Facebook group to receive updates and special event announcements.
Proposal Submission
Teams participating in the 2009/10 Student Technology Innovation Challenge (STIC) are encouraged to e-mail their Business Cases in the format of their choice provided that the printed version not exceed the specified 3-page limit. Participants are strongly encouraged to follow the format described below for their submissions.
Before submitting your Business Proposal, please ensure that your team meets the minimum eligibility requirements (see Eligibility). In your covering e-mail message, list the names of the team members, relevant student numbers, enrollment status (full or part-time) and title of your Business Case.
In terms of format, keep your Business Case to 3-pages maximum. The organizers strongly recommend you stick to a font size of no less than 10 point and margins no less than .75 inches. Teams that exceed the 3-page limit risk being disqualified.
Please send your Business Case along with the participant registration and consent form to the Lead Organizer by no later than midnight, November 30th, 2009.
All proposals will be acknowledged by e-mail reply. This will provide you with added re-assurance that your Business Case has indeed been received by the Lead Organizer. If you do not receive the e-mail acknowledgement, please contact the Lead Organizer as soon as possible.
- Do not wait until the last minute to submit your Outline by e-mail. You can submit it now and continue to make changes up until the November 30th deadline. Submitting it early will enable the organizers to check for formatting problems which you may have overlooked.
- Please look at your Outline the way it will be printed out for the judges. You may be surprised about the formatting and want to change it before the deadline.
- Spell Check! It is strongly recommended that you review your Outline for spelling errors. The judges do not like to see careless spelling or grammatical errors.
IMPORTANT NOTE - Submitting Your Proposal: - All submissions must include information on the team members' names, valid student numbers and enrollment status (full or part-time) along with the participant registration and consent form (form will be sent electronically by organizer). This information can be included on a separate page in your proposal (it does not count against the 3-page limit). You may also put this team information on your e-mail message instead of including it in your actual proposal.
- All proposal submitted to the STIC will be acknowledged next day by a reply e-mail from the STIC Lead Organizer.
- You can submit a proposal right up to midnight November 30th, 2009.
- Submit your proposal to the STIC
Guidelines: Writing the Business Case
Teams participating in the 2009/10 Student Technology Innovation Challenge are encouraged to e-mail their Business Cases in the format of their choice provided that the printed version not exceed the specified 3-page limit. Participants are strongly encouraged to follow the format described here for their submissions.
Writing a Successful Business Case - Some Practical Hints
Teams participating in the initial round of the Student Technology Innovation Challenge should submit Business Proposals which follow the format shown below. Judges will accord the highest ratings to those Business Cases which are clearly written, provide a logical analysis of the opportunity, and a compelling story as to why the proposed technology venture will succeed.
The principal elements expected in the 3-page Business Proposal are:
The "Pitch":
A carefully written statement describing the single most essential idea or thing you wish the judges to retain about your proposed technology venture. Consider the statement similar to that where you are verbally describing your proposal to someone in 30 seconds or less. Strive to make a lasting impression. This section must not exceed 100 words.
Technology Opportunity And Application:
This section addresses the innovation that your team has conceived which underpins a potential commercial opportunity. Your description of the technology must be written in a fashion accessible to people not necessarily experts in the subject matter. It would be equally advantageous for your team to briefly describe how your innovation compares with competitive technologies and other advances in the field.
Does the innovation represent a truly breakthrough advance or is it an improvement over existing solutions? Student teams must ensure that they provide supporting evidence for their assertions.
After providing a general background on the innovation itself, teams must describe the specific application(s) which the technology may be translated into (i.e., product or service). Teams must also report on the overall technical feasibility of transforming the innovation into a commercial grade application.
Market Overview:
Teams must further inform the judges on the likeliest users of the commercial application of the technology. One simple approach in considering the nature of potential customers is to determine what problems the proposed product or service address (i.e., where is the pain relief?). Once identified, a brief description of the potential customers should be presented.
In addition to profiling the likeliest users, this section must summarize the unique value that the potential customers would obtain from the proposed commercial application of the technology.
Validation and Execution:
A great idea, a compelling technology opportunity and a well-considered market analysis is a good start but you need to further demonstrate to the judges your understanding of the business model and why investors should fund you. In this section, you should describe how you intend to finance your venture from your current stage to commercial launch. It is strongly recommended that you demonstrate that the level of upfront capital investment required will lead to desired results for your venture and the investors alike.
You must further demonstrate your ability to execute on your plan. Investors will be acutely aware of the risks in financing early-stage ventures. Describing important development milestones will reveal both your market and technical assumptions -- clear indicators of the risks investors need to know.
Sample 3-page Business Case
The following 3-page Business Case was submitted to the 1st annual Technology Venture Challenge. It also happens to be one of the proposals which reached the Final Round of the Challenge.
Please send your 3-page Business Proposal and completed participant registration and consent forms to the STIC Lead Organizer by no later than midnight, November 30th, 2009.
Non-confidential title of proposal
Empower
The Elevator Speech
Electromyography (EMG) refers to the detection and measurement of the signal produced by muscle tissue as it contracts. EMG can be used to diagnose and treat sports-related injuries, back pain, carpal tunnel syndrome and speed post surgical recovery. With the aging of the baby boomer generation, increasing frequency of repetitive strain injuries, and limited availability of current EMG devices to patients, there is a market need for a portable, low-cost EMG recording and biofeedback device (a device which can provide feedback on muscle activity to a user). Such a device, once properly configured for a patient by a medical professional would permit individuals to safely use EMG in the comfort of their own homes for rehabilitation of injuries, to assist with proper posture, or to monitor damaged muscles using biofeedback.
Technology Opportunity And Application
EMG has long been used as a clinical assessment and treatment tool for back pain, repetitive strain injuries, post surgical recovery and muscle rehabilitation. Unfortunately, most EMG data logging devices are large and extremely expensive, thus confining their use to medical offices and laboratories where patients have very limited and infrequent access to them. This severely limits the potential use of EMG devices in treatment. For example, a patient suffering from a work-related injury such as back pain would benefit most from an EMG assessment if the data was collected while the patient was actually at work performing typical tasks. The time and effort required to move a large, costly EMG device to the patient's workplace, however, effectively prohibits this. EMpower is a portable, low-cost EMG data logging and biofeedback device that will permit patients to perform EMG monitoring and biofeedback wherever it is most effective, be it in the workplace, at home or on the playing field. With a connection to the patient via surface electrodes, EMpower is able to measure the signal produced by a patient's muscles at a specific location, and either monitor muscle activity for viewing by a medical professional, or provide audible stimulus for biofeedback. EMpower will be a battery-operated device, capable of clipping onto a belt for unobtrusive operation. The device will serve two main purposes: data logging and biofeedback. In the first situation, the device simply gathers data from the patient and stores it on-board. The device is then returned to the medical professional, who downloads and analyzes the data. When used in biofeedback procedures, a medical professional programs the device with the level of muscular exertion that is harmful to the patient. The device is then able to detect when muscles are being exerted, and if they are being exerted to a harmful degree. When the device detects muscle strain or high exertion levels an audible signal is produced, alerting the patient that they should adjust their position or stop the harmful activity. This type of EMG biofeedback is useful in detecting and preventing poor posture which could result in back pain or other medical conditions, and in retraining muscles for proper motion following an injury or surgery. Due to this device's low cost (target price is under $250 CDN), it is anticipated that many patients and medical professionals will be interested in purchasing these devices to allow patients to continue their treatment outside of a medical clinic. Further, due to the device's portable nature and programmability, it will allow for patients to carefully monitor and correct poor posture or damaging activities via the devices ability to sound audible noise when a potentially muscle-damaging action is undertaken.
Market Overview
A number of factors contribute to a market need for a low-cost, simple EMG data logging and biofeedback device. Repetitive strain injuries such as carpal tunnel syndrome and back pain are a huge and growing problem potentially affecting millions of workers; EMG monitoring and biofeedback are commonly used to diagnose and treat such problems. In addition, as the baby boomer generation ages, a significant increase in sports-related injuries, and an associated increase in demand for physiotherapy and rehabilitation services has been identified. Both these groups would benefit enormously from the availability of low-cost EMG monitoring devices that are simple enough to be used by the patients themselves under guidance from a medical professional. Such devices would greatly increase the opportunities for diagnosis and treatment.
The initial target market for the EMpower device would therefore be medical professionals such as chiropractors, physiotherapists and doctors specializing in injury rehabilitation, who all make significant use of EMG devices. Due to their low cost, these professionals could acquire a number of EMpower devices so that they could equip several patients at a time with a device.
The following example will serve to illustrate one of the major uses of the EMpower device. Allan, a computer programmer, is experiencing a sore back while at work. He visits his chiropractor, Barbara, whose assessment reveals that Allan's problems are likely due to muscular strain caused by poor working posture. To confirm and refine her diagnosis, Barbara gives Allan an EMpower device, along with simple instructions on how to use it. The next day, Allan attaches a small set of unobtrusive electrodes to the locations Barbara indicated, pushes a button on the EMpower device and goes about his work. After a short while, the EMpower device has finished taking readings; it sounds an audible notification to Allan, who easily removes the electrodes and stores the device. At his next appointment, Allan returns the device to Barbara, who connects the device to her PC's USB port and downloads the data for further analysis.
Based on the results of her analysis, Barbara determines that Allan's problems are indeed the result of poor posture. She decides that biofeedback can help Allan correct his posture. Barbara programs an EMpower device with the levels of muscular activity that indicate improper posture, and gives the device to Allan. While at work, Allan again attaches the electrodes, clips the device to his belt or puts it in a pocket, and goes about his work. When the device detects harmful levels of muscular activity, it sounds an audible warning, which lets Allan know that he should correct his improper posture or change positions. Several secondary markets also exist for the EMpower device. One such market is biomechanics researchers, who study the science of human motion. EMG is extremely useful to such researchers as it reveals the muscle activity driving motion. It is not always feasible to conduct field tests on moving subjects with bulky EMG units costing tens of thousands of dollars. A low-cost, portable device such as EMpower would greatly facilitate field tests, while ruggedized and waterproof versions could easily be created for tests in wider variety of environments. Another secondary market is educational institutions that train medical professionals who will use EMG. Due to the cost of current devices, students, especially those just beginning their specialized education, receive very limited access to EMG technology.
The low cost of EMpower devices makes it feasible for educational institutions to acquire a large number of them, to provide widespread and early access to students.
Potential Risks: Competition
Currently, companies specializing in EMG-related equipment are focused on large EMG devices that are capable of sampling many different muscles simultaneously with great precision. Few companies have produced portable EMG devices, and those devices that are currently available all require expert knowledge to operate and are extremely expensive, with prices in the thousands or tens of thousands of dollars. Such companies, which include Delsys, Mega Electronics and others, could potentially enter into the proposed niche market for consumer-based EMG devices. Barriers to this competition can be developed via patents on the biofeedback algorithms and user-interface design of the EMpower device, as well as the specialized knowledge, design time, and expense required to bring such a product to market.
Design Issues
To due several design decisions with regards to the EMpower device, design related risks can be minimized. Because the device is battery-powered it is electrically isolated, and hence safe for people to use. Secondly, the electrodes are passive, which eliminates the ability of the device to stimulate muscle or provide current to the patient. Finally, careful attention to applicable device regulations will take place throughout the design phase of the project to ensure compliance.
Validation and Execution
The steps in the development/deployment of the EMpower EMG device involve initial design and prototyping engineering work to finalize a good hardware/software design, printed circuit board layouts, and finally packaging concerns. Marketing the product and inciting interest in the design and applications of the device will take place after a few completely functional prototypes have been developed. The design team for the project will consist chiefly of the proponents of this proposal, who have significant experience in related designs/technologies. Assistance with the marketing strategy in phase two of the development, as well as the printed circuit board construction and packaging will be contracted out as necessary.
First round seed capital would be needed to develop and finalize a viable hardware/software design. At the end of this phase of development, board layouts and circuit designs would be completed and tested, and all electronic components selected. The amount of funds required to complete this phase successfully would be approximately $50,000. This includes costs for prototyping components, as well as salaries for two computer engineers over a 4 to 6 month period.
This design phase may seem short, but the design team (the proponents of this proposal) have significant experience relating to the design of EMG hardware. In particular, through the undertaking of an undergraduate thesis project at Queen's University the proponents of this proposal have undertaken significant research into this topic and related areas, and have been successful in the design/construction of a portable EMG data logging system (see Geary, Giajnorio, Hubbard, "A Portable EMG Data-Collection and Logging System", Queen's University, 2001.).
Second round funding would be needed to actually have several boards professionally built and populated, as well as packaged in semi-generic plastic cases with an appropriate user interface (buttons and LCD display). This stage of the project would also involve having marketing brochures and posters created for presentation of the device to potential customers/clients. In addition, this round will also involve having the EMpower device certified by the appropriate standards committees, such that the design can be sold and licensed commercially. Funding for this stage of development is estimated at $70,000 which will include licensing fees, and contract manufacturing of several (i.e. 10) prototype units. The ultimate goal is to take these prototypes and license the design to an established company in the field, a larger company interested in entering the industry, or obtain additional funding to produce more EMpower devices (based on customer/client response to the device) and market these through a medical devices distributor.
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