Difference between revisions of "Team:NCTU Formosa/Entrepreneurship"

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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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You must also delete the message box on the top of this page to be eligible for this prize.
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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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<h3>Patents and intellectual property</h3>
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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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      <div class="title"><p>Overview</p></div>
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        <p>
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          &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over the years, NCTU_Formosa has been revolutionizing the way we farm, one project at a time. With Operation Debug (2014), we developed an efficient and effective biological pest control method; Parabase (2017) added fungal disease prediction and protection to our repertoire; and now, finally, we’ve perfected bacterial control to reach the pinnacle of fertilization with Plant B. These concepts, already powerful on their own, could transform the field of agriculture entirely, allowing for drastic growth in countless markets. To test the efficacy of our project designs, we integrated all of them in a small demonstration farm outside our campus, using turmeric plants as test subjects.
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          &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our farm depends on a regulation system consisting of four parts: pest control, disease control, fertilizer control and irrigation. Click below to learn more about each!
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        </p>
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      </div>
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      <img src="https://static.igem.org/mediawiki/2018/e/ed/T--NCTU_Formosa--4systems.png" class="system">
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      <div class="title"><p>Business Model</p></div>
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          &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health products have seen explosive rise in demand in the past decade.
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        </p>
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      <img src="https://static.igem.org/mediawiki/2018/3/36/T--NCTU_Formosa--Bar_chart.png" class="medicine">
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        <svg class="icon" aria-hidden="true" data-prefix="fas" data-icon="arrow-circle-up" class="svg-inline--fa fa-arrow-circle-up fa-w-16" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M8 256C8 119 119 8 256 8s248 111 248 248-111 248-248 248S8 393 8 256zm143.6 28.9l72.4-75.5V392c0 13.3 10.7 24 24 24h16c13.3 0 24-10.7 24-24V209.4l72.4 75.5c9.3 9.7 24.8 9.9 34.3.4l10.9-11c9.4-9.4 9.4-24.6 0-33.9L273 107.7c-9.4-9.4-24.6-9.4-33.9 0L106.3 240.4c-9.4 9.4-9.4 24.6 0 33.9l10.9 11c9.6 9.5 25.1 9.3 34.4-.4z"></path></svg>
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        Figure1: Temperature growth curve model progress
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          &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Many of these products directly depend on agricultural output, a factor our combined system can amplify greatly. Currently, we are growing turmeric plants on our demonstration farm. Turmeric is used widely as a spice in food, and more importantly can be further processed into curcumin, an antioxidant prized for its anti-inflammatory properties [ref]. Therefore, we decided that our target audience should be businesses involved in the processing of turmeric into medicines or supplements. We adopted a business to business model, acting as a supplier of turmeric to health product and biotech material companies.
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        </p>
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      </div>
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      <img src="https://static.igem.org/mediawiki/2018/5/53/T--NCTU_Formosa--Industrial.png" class="curcumin">
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      <div class="explanation">
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        <svg class="icon" aria-hidden="true" data-prefix="fas" data-icon="arrow-circle-up" class="svg-inline--fa fa-arrow-circle-up fa-w-16" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M8 256C8 119 119 8 256 8s248 111 248 248-111 248-248 248S8 393 8 256zm143.6 28.9l72.4-75.5V392c0 13.3 10.7 24 24 24h16c13.3 0 24-10.7 24-24V209.4l72.4 75.5c9.3 9.7 24.8 9.9 34.3.4l10.9-11c9.4-9.4 9.4-24.6 0-33.9L273 107.7c-9.4-9.4-24.6-9.4-33.9 0L106.3 240.4c-9.4 9.4-9.4 24.6 0 33.9l10.9 11c9.6 9.5 25.1 9.3 34.4-.4z"></path></svg>
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        Figure2: Temperature growth curve model progress
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      </div>
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      <div class="text">
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        <p>
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          &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We plan to contract out the job of producing turmeric to local farmers; we provide our facilities (bio-stimulators, sensors, irrigation systems) and they manage the production end. This business model provides a few key benefits to both us and the farmers. First, barring extreme weather conditions hindering crop production (a potential risk to any farmer), agreeing to a contract with us would provide farmers with a stable profit per harvest regardless of the demand of turmeric in grocery stores and farmers markets. Second, our product is going to big companies with reputation in the industry, providing a better chance at securing long-term income. Finally, business to business models allow for a greater deal of negotiation than conventional business plans, allowing us to secure more benefits for both ourselves and our contracted farmers.
 +
        </p>
 +
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Revision as of 15:39, 11 October 2018

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Overview

     Over the years, NCTU_Formosa has been revolutionizing the way we farm, one project at a time. With Operation Debug (2014), we developed an efficient and effective biological pest control method; Parabase (2017) added fungal disease prediction and protection to our repertoire; and now, finally, we’ve perfected bacterial control to reach the pinnacle of fertilization with Plant B. These concepts, already powerful on their own, could transform the field of agriculture entirely, allowing for drastic growth in countless markets. To test the efficacy of our project designs, we integrated all of them in a small demonstration farm outside our campus, using turmeric plants as test subjects.

     Our farm depends on a regulation system consisting of four parts: pest control, disease control, fertilizer control and irrigation. Click below to learn more about each!

Business Model

     Health products have seen explosive rise in demand in the past decade.

Figure1: Temperature growth curve model progress

     Many of these products directly depend on agricultural output, a factor our combined system can amplify greatly. Currently, we are growing turmeric plants on our demonstration farm. Turmeric is used widely as a spice in food, and more importantly can be further processed into curcumin, an antioxidant prized for its anti-inflammatory properties [ref]. Therefore, we decided that our target audience should be businesses involved in the processing of turmeric into medicines or supplements. We adopted a business to business model, acting as a supplier of turmeric to health product and biotech material companies.

Figure2: Temperature growth curve model progress

     We plan to contract out the job of producing turmeric to local farmers; we provide our facilities (bio-stimulators, sensors, irrigation systems) and they manage the production end. This business model provides a few key benefits to both us and the farmers. First, barring extreme weather conditions hindering crop production (a potential risk to any farmer), agreeing to a contract with us would provide farmers with a stable profit per harvest regardless of the demand of turmeric in grocery stores and farmers markets. Second, our product is going to big companies with reputation in the industry, providing a better chance at securing long-term income. Finally, business to business models allow for a greater deal of negotiation than conventional business plans, allowing us to secure more benefits for both ourselves and our contracted farmers.

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