TE week project
Innovating existing technology to form a new in-house business venture
COMPANY
Lehigh University
My ROLE
GTM & IP Strategist
skills
IP strategy, Presentation skills
Team
1 Technology Specialist, 1 Business Analyst, 1 Team Lead
The goal of our project was to take patented oxygen synthesis machine technology and create a viable product and business plan.
Background
During a week-long entrepreneurship intensive in my master's program, German and American students collaborated in diverse teams, each assigned a specific role—entrepreneurs, intrapreneurs at an established company, scientists, etc.—and a patented technology. Our challenge was to negotiate a licensing agreement with the university’s head of licensing, create a product concept that utilized the assigned technology, and develop a commercialization plan. We built a prototype and crafted a detailed business plan, which was presented in a final pitch competition, showcasing our strategy for bringing the technology to market.
Solution
Leverage the technology's key strengths—its compact size, lightweight design, and self-sufficiency—to develop an oxygen-synthesizing backpack for athletes and emergency professionals. We'll first target the sports tech market, where customers and end users are early adopters of new innovation. In parallel, recognizing the longer sales cycles in the emergency services equipment industry, we'll begin regulatory testing for medical approval and initiate negotiations with equipment contractors.
Results
Our team won most creative product and commercialization plan in the pitch competition.
IP Strategy
Created our IP strategy and led our licensing negotiation for the technology.
GTM Strategy
Helped build our GTM strategy specifically factoring in our IP strategy.
Ideation Workshop
Led our team through ideation exercises including 6 hats, SCAMPER, and journey mapping
This category details the step-by-step approach taken during the project, including tech research, ideation, business plan development, and presenting in a final pitch competition.
Technology Research
Conducted interviews with the inventor of the technology to understand its capabilities and unique value.
Ideation & Market Research
We defined key demographics that would need or benefit from this technology. We then ideated solutions for each demographic using the guiding question, how might we use key proprietary benefits of our technology to deliver clean high purity oxygen to users? We also conducted market research to size our target market.
Our key groups were emergency workers (ex. firefighters) and athletes.
Build Business Plan, Build Prototype, & Negotiate Licensing Deal
Negotiated a licensing agreement with Lehigh University Tech Transfer, built a prototype, and crafted a business plan for O-synth.
Participate in Pitch Competition
Participated in final pitch competition judged by entrepreneurs, Lehigh University tech transfer, and angel investors.