Value Creation Jam
Department(s):Innovation & Entrepreneurship
Developing Projects That Matter
Do you want to distinguish your career by being a proven value creator and innovator? We can help!
Submit a personal project, IQP, or MQP idea and we will choose six teams to participate in a program to advance their innovation to the next level.
You can start developing your idea using ChatGPT. (see below)
Each of the six chosen teams will earn $500 after participating in four virtual value creation forums and the final in-person presentation event. The winning team will be awarded an additional $1000!
Team members will learn the fundamentals of:
- Value creation and innovation
- Designing a unique and compelling value proposition for a project that adds value to society
- Bringing their pitch and value story to life while having fun
Participants will also be able to list the program participation in their LinkedIn profile.
- The workshop leaders will include three proven innovators:
- Curt Carlson, WPI Trustee Emeritus and Luminary, former CEO of the company that developed Siri and Emmy-winning HDTV
- Paul Ventimiglia, WPI alumnus, world leader in robotics, the only three-time BattleBots champion
- Curtis Abel, Executive Director of WPI’s Innovation & Entrepreneurship Center
1. Submit your application by February 20, 2023
2. PARTICIPANT, please follow this template and enter it into ChatGPT.
ChatGPT, create an NABC Action Plan for ……..BRIEF DESCRIPTION OF YOUR INNOVATION HERE …..…….
This presentation is for ………… THE PERSON THIS PRESENTATION IS FOR ………….
ChatGPT, follow this framework from Curt Carlson and Len Polizzotto at WPI & Northeastern.
This presentation is for?
- What is the one sentence introduction to clarify your purpose?
- What is your very short compelling story to gain emotional commitment from your audience?
- Need Analysis – 5 steps:
- What’s the situation in the ecosystem at the time?
- What’s the IMPORTANT problem resulting from the situation in the ecosystem?
- What’s the most significant Limiting Factor preventing the problem from being solved.
- What’s the resulting ACTUAL NEED that addresses that Limiting Factor or a part of it.
- What is your white space and beachhead market segment, and how big and fast growing is it?
- Approach for the Offering and Sustainability Model:
- Why is your solution for the Actual Need that is better than any alternative?
- What do you have that is unique and special – your “wow factor”?
- What is your unique sustainability model?
- Benefits >> Costs (Value):
- What is your value for end-users?
- What is your value for funders or your enterprise?
- Competition and Alternatives:
- Who or what else by name could potentially satisfy the end-user’s need?
- How much better are your Benefits >> Costs than the competition?
- What companies can be competitors in the future by name?
- What are your specific next steps or milestones for advancing your innovation?
- Be quantitative and give a date of completion?
3. PARTICIPANT, please note that after you create your outline from ChatGPT, go through it line by line and specifically and quantitatively create the full NABC Action Plan for your specific initiative.
Please copy/paste your ChatGPT response into the field provided in the application.
Note: This will give you the framework needed for the program, but you must edit the result to represent your new idea faithfully. Quantity: no bigger, better, faster, or cheaper.
4. The six teams chosen to compete will be announced on February 21 via email.
5. The value creation workshop/forums will be held weekly for 90 minutes
6. The value creation forums schedule is as follows:
- Initial workshop – 2/22/23 at 6:30-8 pm EST, virtual (session will be recorded)
- Forum #1 – 3/1/23 at 6:30-8 pm EST, virtual
- Forum #2 – 3/8/23 at 6:30-8 pm EST, virtual
- Forum #3 – 3/15/23 at 6:30-8 pm EST, virtual
Final Presentation and Award Ceremony Event - 3/22/23 at 6-8 pm EST, in person (session to be recorded)