Incubation Model Miguel Ruiz and Eric Lozada February 23, 2012.
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Incubation Model Miguel Ruiz and Eric Lozada February 23, 2012
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Transcript of Incubation Model Miguel Ruiz and Eric Lozada February 23, 2012.
Incubation ModelMiguel Ruiz and Eric LozadaFebruary 23, 2012
Assumptions and Objectives• Basic Assumptions• UPRM will be an active generator of new products and businesses
• But entrepreneur students can be moved through the model• Work will be performed by students under faculty supervision
• As part of courses, research projects, Coop Plan, etc.• Activities happen in “time chunks” (i.e., semesters + summer)• Food related projects will be used for the pilot test of the model
• But other areas will be incorporated later
• Model Objective:• To establish a well defined sequence of activities that need to
take place, from idea definition to commercial production, that UPRM can use to generate a stream of new products and businesses while fostering the entrepreneurial spirit of students.
Flowchart
Idea CK1
Life
Market
Process
Business Plan CK2
SetupSetup Pilot
Schedule
Production
CK3
Legal
CK0
CK0
Timeline
Semester #1 Semester #2 Summer
Year #2
Year #1
Year #3
Generate ideas
Market Analysis
Shelf Life Analysis
Process Development
Production Setup Pilot Production
Scheduling
Commercial Production
FeasibilityAnalysisCHK
CHK
CHK
CHK
Check Point #0
Stakeholders AgendaProject Managers “Forced” product specifications
Participating Faculty “Forced” process specifications
Industry Representatives Number of projects
Potential Investors/Customers Available budget
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Generate IdeasInput Output
“Forced” product specifications (CHK) Proposed Product Formula“Forced” process specifications (CHK) Proposed Process Flow Diagram
Preliminary Product SpecificationsProjected Target Market & Price Preliminary Cost/Price Analysis
Proposed PackagingInvention Disclosure Agreement
Where?Meat Processing Graduate Food ProcessingDairy Products Undergraduate Food Processing
Fruit & Vegetable Processing Research (Graduate, Undergraduate)
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Check Point #1
Stakeholders AgendaProject Managers Select Products to Work on from Pool
of Generated Ideas(Need to develop a Score Card to
evaluate proposals)
Participating Faculty
Industry Representatives
Potential Investors/Customers
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Shelf Life AnalysisInput Output
Proposed Product Formula (Idea) Nutritional FactsProposed Process Flow Diagram (Idea) Shelf Life
Proposed Packaging (Idea) Packaging SpecificationsFinal Product Formula
Final Process Flow Diagram
Where?Undergraduate Research
Graduate ThesisSpecial Problem Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Market AnalysisInput Output
Preliminary Product Specifications (Idea) MARKETING PLAN INCLUDING:Target Market
Projected Sales (Demand)Product Price
Marketing StrategyProduct Art
Where?MERC 6055: Marketing Management Course
Marketing Graduate Student Research
Special Problem Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Process DevelopmentInput Output
Proposed Process Flow Diagram (Idea) Proposed LayoutProposed Product Formula (Idea) Human Resource Requirements
Proposed Packaging (Idea) Estimated Equipment QuotesProposed Pilot Capacity (CHK) Estimated Production Cost
Designed Production RateSpreadsheet: IRR/Break Even
Where?Industrial Engineering Capstone
ININ 4040: Facility Layout and Design Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
LegalInput Output
Packaging Specifications Legal Document (trade mark or patent)Final Product Formula
Final Process Flow DiagramShelf Life
Nutritional Facts
Where?Oficina Propiedad Intelectual
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Business Plan DevelopmentInput Output
Marketing Plan (Market) Business PlanEstimated Production Costs (Process)
Estimated Equipment Quotes (Process)
Where?ECAG 5006: Viability Analysis for Agricultural Enterprises CourseGERE 6008: Development of Medium and Small Business Course
ADMI Special Problem Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Check Point #2
Stakeholders AgendaProject Managers Decide which projects continue based
on Feasibility Analysis & Business PlanParticipating FacultyIndustry Representatives Identify project funding
Potential Investors/Customers
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Production SetupInput Output
Available Space (CHK) Purchase Orders (Equipment, supplies)Proposed Layout (Process) Space & Utilities Setup
Estimated Equipment Quotes (Process) Updated Equipment CostFinal Product Formulation (Life) Revised Spreadsheet: IRR/Break Even
Supplier Identification
Where?Food Elaboration Management Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Pilot ProductionInput Output
Equipment (Setup) Capacity and Yield AnalysisProposed Layout (Process) Performance/Efficiency Analysis
Final Product Formulation (Life) Production Cost RevisionHuman Resource Requirements (Process) Process & Product Documentation
Final Process Flow Diagram (Life) Required Permits and Legal DocsSpace & Utilities Setup (Setup) Pilot Run (commercial sample)
Revised Spreadsheet: IRR/Break Even Final Spreadsheet: IRR/Break Even
Where?Food Factory Management
Industrial Engineering Capstone
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Check Point #3
Stakeholders AgendaProject Managers Review project(s) status taking into
account Pilot Production Report & Updated Equipment Cost
DocumentationParticipating Faculty
Industry Representatives
Potential Investors/Customers EXHIBIT product samples to investors
Customer Orders
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Commercial ProductionInput Output
Customer Orders Final ProductProcess & Product Documentation (Pilot) Production ReportsRequired Permits and Legal Docs (Pilot)
Where?CITAI
Guanajibo Industrial Complex
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Scheduling Input Output
Capacity and Yield Analysis (Pilot) Production SchedulePerformance/Efficiency Analysis (Pilot) Raw Materials Supply Schedule
Supplier Identification (Setup)Customer Orders (CHK)
Where?Material Requirements Planning (MRP)
Scheduling CourseSpecial Problem Course
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Check Point #0
Stakeholders AgendaProject Managers Review Projects Progress
Participating Faculty Offer Completed Solutions to Investors
Industry Representatives Review Financial/Budget Issues
Potential Investors/Customers Discuss Strategic/Administrative Issues
Define “Forced” Conditions for New Cycle
Idea CK1
Life
Process
Business Plan CK2 Setup Pilot
Schedule
Production
CK3
Legal
MarketCK0 CK0
Incubation ModelMiguel Ruiz and Eric LozadaFebruary 23, 2012
