Difference between revisions of "Team:XJTU-China/Entrepreneurship"

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          <ul class="nav nav-pills nav-stacked" id="side-nav" data-spy="affix">
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            <li class="nav-item"><a href="#section1">Abstract</a></li>
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            <li class="nav-item"><a href="#section2">Product application</a></li>
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            <li class="nav-item"><a href="#section3">Market analysis summary</a></li>
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            <li class="nav-item"><a href="#section4">Communicate with target customers</a></li>
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            <li class="nav-item"><a href="#section5">Financial department</a></li>
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            <li class="nav-item"><a href="#section6">Achievements</a></li>
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            <li class="nav-item"><a href="#section7">The plan for future</a></li>
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            <img src="https://static.igem.org/mediawiki/2018/2/2f/T--XJTU-China--HP-ENTRE-HEAD.png"class="mx-auto d-block" />
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            <div id="section1">
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              <div class="page-header">
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                <h2>Abstract</h2>
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              </div>
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              <p>
 +
              Our product, D-psicose, has a variety of medical benefits, for example a certain effect in controlling blood sugar. It has been proved that our products can benefit many people and achieve commercial success. We have done a lot of related work to commercialize our project.Customer surveys were made to understand the public's understanding and acceptance of D-psicose.Market research was a way to highlight the superiority of our products through comparison. Through this process, possible costs and profits were also estimated.Another important step is learning the laws governing the conversion of patents and products in the process of commercialization. Besides, product application, market analysis and financial summary are three main aspects of our entrepreneurial work summary.
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              </p>
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            </div>
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            <div class="page-header" id="section2">
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              <h2>Product application</h2>
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            </div>
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            <div>
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                <h3>
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              Research on the feasibility of entering the market and patent applications
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              </h3>
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              <p style="text-align:right;">
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              Shangwei Lv<br>Xi’an Jiaotong University
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              </p>
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              <div class="row">
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                  <div class="col-sm-4">
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                    <img src="https://static.igem.org/mediawiki/2018/d/d7/T--XJTU-China--HP-entrepreneurship-1.jpg" class="mx-auto d-block" style="width: 90%" />
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                  </div>
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                  <div class="col-sm-8">
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                    <p>
 +
                Teacher Lv is an expert in the transformation of knowledge into practise. To ensure that our project products can be patented and have the potential to enter the market, we discussed  related issues with him.
 +
              </p>
 +
              <p>
 +
                After the discussion, we believe that industrial production of D-psicose is feasible. Nevertheless, there is still a lot of work to be done.
 +
              </p>     
 +
                  </div>
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            </div>
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              <p><b>
 +
                Through Mr. Lv, we learned that commercial production of D-psicose needs to focus on the following four aspects.
 +
              </b></p>
 +
              <ul>
 +
                <li>The complete laboratory process is the basis of industrialization.</li>
 +
                <li>The production technology of naloxone involves property rights issues. Cooperation with the company includes, technology transfer and shareholding, R&D, collaboration with enterprises, joint training of talented people etc.</li>
 +
                <li>To start a business, the issues that need to be considered in the early stage are: source of funding, plant selection, production equipment, management team, raw materials, market research, etc.</li>
 +
                <li>Product pricing needs to be considered, for example, raw material costs, equipment costs, plant fees, utilities, depreciation rates, labor costs, production, predicted sales volume, existence of similar products in the market, market growth, advantages and disadvantages of this product, etc.</li>
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              </ul>
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            </div>
  
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            <div class="page-header" id="section3">
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              <h2>Market analysis summary</h2>
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            </div>
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            <div>
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              <p>
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                Based on the survey, we summarized the current beverages on the market and counted the sweeteners used in them.
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              </p>
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              <a data-toggle="collapse" data-parent="#accordion" href="#table1" class="collapsed btn" aria-expanded="false">Show or hide the table</a>
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              <ol class="list-group collapse" id="table1" aria-expanded="false" >
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                <div style="text-align: center;">
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                  Types of sweeteners in different beverages
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                </div>
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                <img src="https://static.igem.org/mediawiki/2018/8/8f/T--XJTU-China--HP-GOLD-table1.png" class="mx-auto d-block"/>
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              </ol>
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              <p>
 +
                By investigating the types of sweeteners in different beverages, we found that most soda drinks use a variety of sweeteners. the sweeteners in juice drinks are mainly white sugar and will affect human health. Thus, D-psicose is potentially a healthy sweetener.
 +
              </p>
 +
              <a data-toggle="collapse" data-parent="#accordion" href="#table2" class="collapsed btn" aria-expanded="false">Show or hide the table</a>
 +
              <ol class="list-group collapse" id="table2" aria-expanded="false" >
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                <div style="text-align: center;">
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                  Sweeteners comparison table
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                </div>
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                <img src="https://static.igem.org/mediawiki/2018/0/0e/T--XJTU-China--HP-GOLD-table2.png" class="mx-auto d-block"/>
 +
              </ol>
 +
              <p>
 +
                Through our investigation we found that most currently used sweeteners are not as sweet as sucrose. They will cause dangerous side effects on the human body. In contrast, D-psicose has a high degree of sweetness, low calorie, and no known side effects. This proves that D-psicose has  a highly possible advantage of entering the market.
 +
              </p>
 +
            </div>
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            <div id="section4">
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              <div class="page-header">
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                <h2>Interviews with corporate technicians</h2>
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              </div>
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              <ul>
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                <li>
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                  Most of the elderly we surveyed have diabetes.
 +
                </li>
 +
                <li>
 +
                  As living conditions improve, people's concern about physical health is increasing. More than half of the elderly say that they usually eat more vegetables and eat less sugary food. They are very focused on the stability of their blood sugar.
 +
                </li>
 +
                <li>
 +
                  Most of people respond positively to our project about D-psicose, support research and development, and are willing to buy healthier products,
 +
                </li>
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              </ul>
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            </div>
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            <div class="page-header" id="section5">
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              <h2>Financial Department</h2>
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            </div>
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            <div>
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              <p style="text-align: center;">
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                Estimation of raw material cost of D-psicose production
 +
              </p>
 +
              <img src="https://static.igem.org/mediawiki/2018/5/5c/T--XJTU-China--HP-ENTRE-table3.png" class="mx-auto d-block"/>
 +
              <p style="text-align: right;">
 +
                D-psicose production technology and market research report
 +
              <br>
 +
                Report number: BQ160905-01
 +
              </p>
 +
            </div>
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            <div class="page-header" id="section6">
 +
              <h2>Achievements</h2>
 +
            </div>
 +
            <div>
 +
              <p>
 +
              Our project is based on a directed evolution of D-psicose synthesis system. Compared with traditional chemical synthesis methods and biosynthesis methods, our method has the advantages of high yield, low energy consumption and low carbon emissions. Therefore, we took this direction as an entry point, expanded our project, participated in the 4th China "Internet +" College Students Entrepreneurship Innovation Contest Finals and the energy conservation and emission reduction competition, achieving good results in the Bronze Award and Excellence Award.
 +
            </p>
 +
            <p>
 +
              During the competition, our team completed the preparation of the business plan and responded to the experts. This process has enabled us to better understand the problems faced in the entrepreneurial process. It plays a guiding role in the future development of our IGEM projects.
 +
            </p>
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              <img class="mx-auto d-block" src="https://static.igem.org/mediawiki/2018/b/b2/T--XJTU-China--HP-energy-3.jpg" style="width: 50%" />
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              <img class="mx-auto d-block" src="https://static.igem.org/mediawiki/2018/d/dd/T--XJTU-China--HP-energy-4.jpg" style="width: 50%" />
  
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            </div>
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            <div class="page-header" id="section7">
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              <h2>The plan for future</h2>
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            </div>
 +
            <div>
 +
              <p>
 +
                We strongly recommend promoting and transforming our achievements in the laboratory, reduce the production costs of D-psicose and enable it to be industrialized. In the process of achieving commercial success, we are not afraid of difficulties and challenges that may occur in the future. We can still apply for patents for our projects, making it possible to industrialize large quantities of D-psicose. We believe that many people with diabetes and obesity will benefit from our program. Every ordinary person is going to enjoy this high-sweet, low-calorie healthy natural sugar.
 +
              </p>
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            </div>
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<h3>★  ALERT! </h3>
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<p>This page is used by the judges to evaluate your team for the <a href="https://2018.igem.org/Judging/Medals">medal criterion</a> or <a href="https://2018.igem.org/Judging/Awards"> award listed below</a>. </p>
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<p> Delete this box in order to be evaluated for this medal criterion and/or award. See more information at <a href="https://2018.igem.org/Judging/Pages_for_Awards"> Instructions for Pages for awards</a>.</p>
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<h3>Best Supporting Entrepreneurship Special Prize</h3>
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In previous years, iGEM had an entrepreneurship track. Teams were encouraged to build projects and focus on commercializing their work. We have now moved to an award as the best work in this area may come from teams who are not solely focused on entrepreneurship.
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<p>The Best Supporting Entrepreneurship award recognizes exceptional effort to build a business case and commercialize an iGEM project. This award is open to all teams to show that entrepreneurship is something all teams can aspire to do with their project. This award can go to an new project, or to a previous project that a team aimed to commercialize. Have you filed a provisional patent on your project/device/process? Have you raised money to build and ship products? Have you pitched your idea to investors and received money? As always in iGEM, the aim is to impress the judges!
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To compete for the <a href="https://2018.igem.org/Judging/Awards">Best Supporting Entrepreneurship prize</a>, please describe your work on this page and also fill out the description on the <a href="https://2018.igem.org/Judging/Judging_Form">judging form</a>.
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<h3>Inspiration</h3>
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<p>You can look at what other teams did to get some inspiration! <br />
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Here are a few examples:</p>
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<li><a href="https://2016.igem.org/Team:Sydney_Australia">2016 Sydney Australia</a></li>
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<li><a href="https://2016.igem.org/Team:Pasteur_Paris">2016 Pasteur Paris</a></li>
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<li><a href="https://2014.igem.org/Team:UCC_Ireland">2014 UCC Ireland</a></li>
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<li><a href="https://2014.igem.org/Team:Imperial">2014 Imperial College London</a></li>
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If your team is seriously considering commercializing and looking into building a company after the competition, you may want to look at how you are going to protect your work and secure investment. Investors will usually require some form of intellectual protection, so you may want to investigate how to apply for a patent or provisional patent in your country and region before disclosing your project at iGEM. Remember that you can only be evaluated in iGEM based on what you share on your wiki and at the Jamboree, so any work you don't present can't count towards your project. </p>
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<p>This is an area where we are different as we care about sharing, openness and contributing to the community and investors don't always agree with these values. It is up to you and your team to decide what to do. Remember that most universities have a commercialization department and that you can talk to them before coming to a decision.
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Latest revision as of 23:38, 17 October 2018

Abstract

Our product, D-psicose, has a variety of medical benefits, for example a certain effect in controlling blood sugar. It has been proved that our products can benefit many people and achieve commercial success. We have done a lot of related work to commercialize our project.Customer surveys were made to understand the public's understanding and acceptance of D-psicose.Market research was a way to highlight the superiority of our products through comparison. Through this process, possible costs and profits were also estimated.Another important step is learning the laws governing the conversion of patents and products in the process of commercialization. Besides, product application, market analysis and financial summary are three main aspects of our entrepreneurial work summary.

Product application

Research on the feasibility of entering the market and patent applications

Shangwei Lv
Xi’an Jiaotong University

Teacher Lv is an expert in the transformation of knowledge into practise. To ensure that our project products can be patented and have the potential to enter the market, we discussed related issues with him.

After the discussion, we believe that industrial production of D-psicose is feasible. Nevertheless, there is still a lot of work to be done.

Through Mr. Lv, we learned that commercial production of D-psicose needs to focus on the following four aspects.

  • The complete laboratory process is the basis of industrialization.
  • The production technology of naloxone involves property rights issues. Cooperation with the company includes, technology transfer and shareholding, R&D, collaboration with enterprises, joint training of talented people etc.
  • To start a business, the issues that need to be considered in the early stage are: source of funding, plant selection, production equipment, management team, raw materials, market research, etc.
  • Product pricing needs to be considered, for example, raw material costs, equipment costs, plant fees, utilities, depreciation rates, labor costs, production, predicted sales volume, existence of similar products in the market, market growth, advantages and disadvantages of this product, etc.

Market analysis summary

Based on the survey, we summarized the current beverages on the market and counted the sweeteners used in them.

By investigating the types of sweeteners in different beverages, we found that most soda drinks use a variety of sweeteners. the sweeteners in juice drinks are mainly white sugar and will affect human health. Thus, D-psicose is potentially a healthy sweetener.

Through our investigation we found that most currently used sweeteners are not as sweet as sucrose. They will cause dangerous side effects on the human body. In contrast, D-psicose has a high degree of sweetness, low calorie, and no known side effects. This proves that D-psicose has a highly possible advantage of entering the market.

Interviews with corporate technicians

  • Most of the elderly we surveyed have diabetes.
  • As living conditions improve, people's concern about physical health is increasing. More than half of the elderly say that they usually eat more vegetables and eat less sugary food. They are very focused on the stability of their blood sugar.
  • Most of people respond positively to our project about D-psicose, support research and development, and are willing to buy healthier products,

Financial Department

Estimation of raw material cost of D-psicose production

D-psicose production technology and market research report
Report number: BQ160905-01

Achievements

Our project is based on a directed evolution of D-psicose synthesis system. Compared with traditional chemical synthesis methods and biosynthesis methods, our method has the advantages of high yield, low energy consumption and low carbon emissions. Therefore, we took this direction as an entry point, expanded our project, participated in the 4th China "Internet +" College Students Entrepreneurship Innovation Contest Finals and the energy conservation and emission reduction competition, achieving good results in the Bronze Award and Excellence Award.

During the competition, our team completed the preparation of the business plan and responded to the experts. This process has enabled us to better understand the problems faced in the entrepreneurial process. It plays a guiding role in the future development of our IGEM projects.

The plan for future

We strongly recommend promoting and transforming our achievements in the laboratory, reduce the production costs of D-psicose and enable it to be industrialized. In the process of achieving commercial success, we are not afraid of difficulties and challenges that may occur in the future. We can still apply for patents for our projects, making it possible to industrialize large quantities of D-psicose. We believe that many people with diabetes and obesity will benefit from our program. Every ordinary person is going to enjoy this high-sweet, low-calorie healthy natural sugar.

Copyright © 2018 XJTU-China iGEM Team. All rights reserved.