IEOR Blog Post #13

This was our last week of class and time flew by so fast. Luckily our pitch is coming together very well and we integrated the feedback from last week's class into our pitch deck to make it more cohesive and ensured that the information does not contradict itself. Our P&L is now accurate and we are well within the time limit for the entire presentation. All that is left to do is keep practicing!

I personally worked on the the results, the target market and the market dynamics for the presentation. I added interesting graphics and removed the bulky text in order to have a very clean slide deck. This is also what we will be presenting in class today.

The in-class presentation were great because we got helpful feedback from Tal and Rick in regards to our timeline and our business model. We have decided to extend our timeline so that production of the the product will begin in 24 months rather than 12 months so account for any setbacks that we may have. The business model needs a slight amount of work in order for it to match with the P&L statement, Stijn and Aneesha will be working on this. We were also encouraged to make the presentation a bit more relaxed and casual rather than so serious so we will be adding some interesting elements to the presentation, such as a demonstration of how the flywheel works to our final pitch. The presentations from our peers were also very interesting and we certainly have some stiff competition for us on Tuesday! Nonetheless, we are confident that we will be successful and we are excited to present to everyone.

Best of luck to the other teams and thank you for an amazing semester!!

IEOR Blog Post #13

Taking all of the feedback received last week my team and I re-vamped our final pitch. This time we included more in-depth analysis of the finances and took another look at the business plan to ensure that licensing the technology was the most efficient business model vs actually manufacturing the flywheel and selling them ourselves. We decided that licensing the technology was the most efficient route to go. The last thing that we need to finalize this week is our ask because we are still unsure of what that should be.

In addition to this, I had a very interesting phone call with Leslie Eudy of National Renewable Energy Laboratory. She pointed me to an interesting website that detailed the market growth for renewable energy in various bus transit companies all over the country (including data about AC Transit used here in the bay). The data showed us that there is definitely a trend towards flywheels/hydrogen fuel cells in the future and showed us that AC Transit aims to implement a zero emissions policy in their bus system by mid-2017 and I think the flywheel would be useful in implementing that. There were also multiple publications on the website that detailed the financial trend towards flywheels/hydrogen fuel cells because although the price for implementing flywheels is currently slightly increasing this cost is expected to go down by mid 2017 and actually end up saving money for AC Transit within the nest few years. According the Eudy, the only reason why there is a slight trend in increase of funds currently is because there is required training for bus drivers to operate these new cars, required training for mechanics to understand how to fix any problems that could be caused by the implementation of this new system and also because AC Transit has invested in new buses.

The website can be found at this link: http://www.nrel.gov/hydrogen/proj_fc_bus_eval.html

IEOR Blog Post #12

This week was very exciting because we drafted our final pitch! It was great to see all of our market research coming together to help us consolidate our final product. I personally worked on formulating the target market and the business model.

One of our earlier presentations for this class listed the TAM as all vehicles, the SAM as hybrid vehicles and the SOM as hybrid vehicles in the US. However the team quickly realized that these weren't realistic and we also switched gears to target buses and mail carrier vans instead of vehicles. Due to this I changed the TAM to be buses and mail carrier vans in the US, the SAM to be buses and mail carrier vans in California and the SOM to be buses and mail carrier vans in the Bay Area. We have reached out and spoken with representatives from AC Transit, FedEx and USPS. We have chosen these businesses to be out target market because the fly wheel system will work best when implemented in vehicles that stop and go often.  In addition to this, buses and mail carrier vans are large and therefore will use more energy.

Looking at the business model we decided to license our patent to public transportation and mail carrier van manufacturers such as North American BUs Industries and Grumman LV.

This upcoming week we will be finalizing our pitch!

IEOR Blog #11

After our discussions with Rick and Tal last week we decided that to be more on track with our project it was necessary that we reach out to more industry specialists in hopes of finally getting in contact with someone. We went back to the the drawing board and re-drafted our emails and tried reaching out to multiple people. We also called new contacts that we had found through further research of public transportation systems. Over break we had some successful interviews. The most important one was with Bart's sustainability director, Holly Gordon. She believes that although the flywheel technology is still quite new it could have potential use in the train system. It will have both significant impacts on cost and the environment. Bart currently uses the RCR technology, and she did mention that the Flywheel technology might not be very useful for Bart in specific but she did refer us to the public transit companies in the greater Chicago and Boston areas (as they use the regenerative breaking technology). Stijn and I also went back to the Professor who invented the flywheel because we had a few more questions to ask him. In our correspondence with the co-founder of Tesla. he said that he did not believe the flywheel system would be effective in electric so we went to the Professor who invented the flywheel to better understand his vision for the flywheel. He clarified and said the the flywheel is best used for hybrid cars because electric cars already efficiently use the battery system and make use of braking energy. With this clarification we better understood the patent. For the upcoming week the team will get together and make a draft of the pitch. 

IEOR Blog Post #9

Aims for this Week:

1) Get more responses from surveys we sent out

2) Compile data from the surveys and follow up with companies that we have not heard back from 

This week we also had an interesting correspondence with Marc Tarpenning from Tesla. He used to work at Tesla and provided us with valuable feedback about the flywheel system. He said that he did not know how feasible the flywheel would be to implement in vehicles because the efficiency of most motors in electric cars is already optimized at 80%-90%. This is a bit worrying so we will be going back to talk to the Professor who invented the flywheel once we get back from break. 

Plan for the Future:
Talk to the inventor to ensure that the flywheel is a useful and innovative product and meet with more companies to see if they would be open to implementing the flywheel in their public transportation systems.

IEOR Blog Post #8

This week we changed our market to be public transport. Aiming specifically at buses because they are a common from of public transport in big cities. By implementing the flywheel system in buses we aim to capitalize on a unique market. In addition to this, by implementing the flywheel system in buses we will be making them more cost-efficient and energy efficient.

Last week in class we listed a couple of customers to contact. So far we have successfully gained an interview with AC Transit and Tesla. We will be contacting them next week. We are still waiting to hear back from customers such as Muni, Nissan, VTA, Toyota, etc.

IEOR Blog Post #7

This week Team Patent decided to finalize our patent for this class and we ultimately chose to work with the flywheel system. To better understand the product, we decided to meet with the Professor who designed the product a second time to better understand his vision for the flywheel. However this did not work out because he was not his office hours. Instead we will be following up with this next week.

The team believes that in order to find a niche for the flywheel product is it imperative that relook for unique markets to introduce the flywheel into. For example, certain companies in San Francisco offer Go-Kart tours of the city and we were consider the Go-Karts as a potential market we could capitalize on. Upon further research of Go-Kart tours, the team discovered that they are not unique to SF but rather offered all of over the world in places such as Barcelona and Vancouver. This means that there are thousands of tourists renting out these Go-Karts everyday and if the flywheel system was implemented in them we could make the Go-Karts more sustainable and energy-efficient.