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The New Product Challenge - Market for Self Control 2017

MSC2017 FINAL EVENT & NETWORKING RECEPTION
An event that brings together the worlds of Behavioural Insights, Marketing, Innovation, Design and New Ventures!

Date:  February 15th, 2017
Venue: Desautels Hall at the Rotman School of Management
Keynote: Som Seif [Purpose Investments]
Judging Panel: Frank Falcon [Founder of Triggerfox, Head of Product at Influitive]
Kena Paranjpe [Co-founder of BRIKA] 
Kelly Peters [CEO of BEWorks]

Ron Borkovsky [Professor of Marketing, Rotman School of Management]







MSC2017 FINALISTS & PITCHES

Team Cavity Patrol (Faye Almeshaan, Darcy Drury, Juliana Luque Cala, Juan Carlos Enciso, Arjoon Vohra, and Rohit Hora)

"Brushii is an interactive electric toothbrush (and a display screen) that makes brushing teeth a fun and enjoyable game."
>> Watch the final pitch

Team Das.Corp (Carlos D'Enjoy, Carlos Salgado, Despina Maliaka, Mohsin Bin Latheef, Mohit Arora, and Justin Cuperfain)

"DAS.CHAÏR reduces the incidence of sedentary lifestyles by automatically folding up at pre-determined intervals and encouraging its occupant to walk and stretch."
>> Watch the final pitch

Team Drive Captain (Khoa Nguyen, Daniel Nguyen, Chuong Pham, Tong Liu, and Caroline Jiang)

"The Drive Captain uses RFID technology to help drivers stay away from hand-held devices and instead focus on the road."
>> Watch the final pitch

Team Ideators (Cailin Hillier, Natalie Eckler, Marie Daley, and Jose Valdez)

"Tok-Rok is a collaboration device which uses Natural Language Processing technology to minimize the temptation of interrupting while others are talking at group meetings."
>> Watch the final pitch

Team S.A.L.T. (Sally Tian, Anjeli Kruytbosch, Lisa Chen, and Tracy Hui)

"Nudge-Ring, a motion sensor piece of jewelry provides immediate feedback to prevent the user from picking at their skin and hence reducing acne excoriation."
>> Watch the final pitch



CHALLENGE OVERVIEW

1. The Challenge in a Nutshell

OPEN TO ALL ROTMAN STUDENTS [MBA, COMMERCE, EMBA, MASTERS]

WORK IN TEAMS OF 4 TO 6 STUDENTS

MBA2018 STUDENTS CAN DEVELOP THEIR MCV PROJECTS, AND CAN RECRUIT [AND DROP] ADDITIONAL MEMBERS TO TEAMS

   REGISTER TO PARTICIPATE! (DUE: JANUARY 18TH 2017 4:59 PM EST)

YOUR JOB: DEVELOP A PRODUCT [OR SERVICE] CONCEPT IN THE DOMAIN OF SELF-CONTROL [E.G., TO ENCOURAGE SAVINGS OR HEALTHY BEHAVIOURS, DISCOURAGE PROCRASTINATION, CURBING CONSUMPTION OF SUGARY BEVERAGES, ETC.]

THEN DEVELOP A BUSINESS PLAN FOR A NEW-VENTURE AROUND THAT PRODUCT AND PITCH YOUR IDEA. YOU WILL NEED TO PRESENT EVIDENCE OF FEASIBILITY AND A TESTED OR TESTABLE PROTOTYPE [LOW-FIDELITY OK].

ATTEND AN INFORMATION SESSION ON THE CHALLENGE, AND THEN PREPARE FIRST ROUND SUBMISSIONS BY 28 JANUARY 2017

VIDEO SUBMISSION LINK: https://msc2017.us.launchpad6.com/

FIVE FINALISTS WILL BE CHOSEN TO MAKE FINAL PITCHES TO A GROUP OF ADVISORS, EXECUTIVES AND FUNDERS ON 15 FEBRUARY 2017

THE WINNER TAKES AWAY $2500, ALL OTHER FINALISTS $500

REFINE YOUR PITCHING SKILLS, GET A SHOT AS A CASH PRIZE, NETWORK AND CATCH THE EYE OF SOMEONE WHO MIGHT FUND YOU!

2. The Market for Self-Control

Research in behavioural economics finds that that many consumers lack the willpower and motivation to act on many of their desires and goals. For instance, many consumers who wish they saved more for retirement or exercised regularly are unable to do so. There is a growing gap between consumers’ intentions and actual behaviour; a gap that many consumers are often acutely aware of.

Fortunately, this growing intention-action gap creates a market for self-control products. Examples of self-control products include Clocky: The Runaway Alarm Clock (a clock that runs away when the snooze button is activated), KSafe (a time-locking jar that restricts access to goodies, smartphones or game consoles), Stickk (a website that uses incentives and peer-effects to encourage people to stick to goals), and several apps that block access to the Internet to allow people to get work done!

Please see the following animations for a background to the market for self-control:

https://www.youtube.com/watch?v=T6FcVnT_E_0

https://www.youtube.com/watch?v=IkCIe1EtCaA

3. The Challenge

Each team will identify a specific behaviour in which they believe people lack self-control, and then develop a product concept to address this lack of self-control. The new product ideas you come up with should meet a few criteria:

  1. Be based on some research and analyses that indicates a need for the product.
  2. Be a physical product, a service or a technological product (e.g., an app or a website) or a combination of the three.
  3. Be feasible: It should be within the realms of existing technology. For example, a version of pixie dust that makes people more rational when sprinkled on them, or a booster juice that suddenly enhanced willpower when drunk will not be accepted.

Then develop a business plan for a start-up venture that could launch your new product and be prepared to pitch your ideas. In your submissions, the judging panel will need to be convinced of the feasibility of the product. One way of doing this is to present a wireframe or prototype. Another way is to get the opinion of an expert, a manufacturer or a developer supporting the feasibility,

Round 1:

Prepare a 4-minute video (maximum) and a 500 word summary, link will be available here on this page soon.

Round 2:

In-person pitches

The MSC Challenge is funded by BEAR (Behavioural Economics in Action) and offered in partnership with Rotman DesignWorks and CDL (the Creative Destruction Lab).

 

4. Timeline

 

Date

Event 

1

9 December, 2016 [Friday]

Challenge Posted

2

18 January, 2017 [Wednesday] 4:59 PM

Deadline to register your teams as participants

3

20 January, 2017 [Friday] 4:30PM-7:30PM

Information session [Rotman South Building LL1020]

4

28 January, 2017 [Saturday] 11:59 PM

First round of pitches (video submission) due

5

2 February, 2017 [Thursday]

Finalists notified

6

2 – 15 February

Teams work with coaches

7

15 February, 2017 [Wednesday] 5 PM and onward

Final Pitches, Keynote and Networking

 

 

Kena Paranjpe [Co-founder of BRIKA]
Kena Paranjpe [Co-founder of BRIKA]
Kena Paranjpe [Co-founder of BRIKA]
Kena Paranjpe [Co-founder of BRIKA]

Frank Falcon [Founder of Triggerfox, Head of Product at Influitive] 
© Rotman School of ManagementAASCB