[MUSIC] We're now entering to the second part of the capstone, focusing on presenting and improving the output of your efforts. Given the feedback on your product, finding parts to improve, as well as strong parts that maybe need to be emphasized even more. So what have you done so far, then? Well, you have now analyzed a specific market or industry, as well as a new technology with the potential to put that specific system out of balance. You have used backcasting and estimated probable value network changes. You have found interesting areas from the business perspective, and with design thinking, business modeling, a first draft of a product or service as well as a business model, is created. And last week, you have created the first strategy, potentially taking you one step closer to a desired end state, as well as thinking about how the product should be marketed and sold, in more detail. One way of viewing this process is the following metaphor, the first steps, the backcosting and value network estimation, helps you to figure out where to drill for oil. And design thinking, business model and marketing is regarding how to drill most efficiently. And the strategy part is safeguarding that you reach the desired destination, managing all major obstacles on your way. Just knowing how to drill without a clear view regarding where to find oil will decrease your chances of success dramatically. You may be lucky, but let's see to that you improve your odds by aiming for a better area from start. As well as focusing your resources on the right challenge, understanding what your present most critical problem is, and solve it before moving on to the next one. This week's assignment is to synthesize the work made so far in this capstone project into one coherent story, with the aim to convince others that the chosen area is an interesting opportunity, holding a significant business potential. You should also present how to be able to capitalize on this opportunity, as well as present how to overcome major obstacles on your way towards the desired position. In addition to what has been covered previous weeks, you should, here, also add some high level financial numbers, so it's possible to get a feeling for the potential and funding required. When putting this together, you will most probably find gaps in your story. These should, of course, be addressed so you're able to present a complete story. You should base this on what you have now and are able to find out this week. The remaining weeks will be focused on further improving your work, based on the feedback received. This may be to do additional iterations, new customer interviews, etc., etc. You will also review others that will further give you ideas and inspiration regarding your own work. When it comes to recommendations regarding videos to watch prior to working on the assignments, this depends on your individual needs and gaps. But in any case, the videos regarding funding and pitching in the second innovation entrepreneurship course should be a good start. Good luck with the assignment, and looking forward to see your first shot at this.
