{"id":559,"date":"2020-05-24T13:51:56","date_gmt":"2020-05-24T17:51:56","guid":{"rendered":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/?page_id=559"},"modified":"2025-07-17T16:10:44","modified_gmt":"2025-07-17T20:10:44","slug":"prototype-to-profit-launch","status":"publish","type":"page","link":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/challenges\/prototype-to-profit\/prototype-to-profit-launch\/","title":{"rendered":"Prototype to Profit: Launch"},"content":{"rendered":"\n\n\n\n<div class=\"ncst-fancy-paragraph-fifty is-text wp-block-ncst-fancy-paragraph\">\n                \n<div class=\"wp-block-ncst-fp-accompaniment\">\n    \n<div class=\"wp-block-ncst-fp-image\">\n  <figure class=\"fancy-paragraph__image-container fancy-paragraph__image-landscape\">\n          <img \n        decoding=\"async\"\n        class=\"fp-image wp-image-\"\n        src=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/04\/001_DP_BusinessModels_Thumbnail.png\"\n         alt=\"\"               >\n          <\/figure>\n<\/div>\n\n\n  <\/div>\n\n\n                  <p class=\"fancy-paragraph__text fancy-paragraph-right\">\n            Read your <strong>Challenge Statement<\/strong> and watch your Challenge Champion\u2019s <strong>Set the Stage video<\/strong>. Be sure you have a clear understanding of the problem.\n          <\/p>\n              <\/div>\n      \n\n\n\n<p class=\"wp-block-paragraph\">Then do some research to <strong>identify<\/strong> and <strong>understand<\/strong> the users \u2013 the people or organizations who need a good solution to this problem. What do users need in a solution? Why? What\u2019s wrong with the solutions they have now?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"setting-the-stage-with-your-challenge-champion\">Setting the Stage with Your Challenge Champion<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Challenge Champion Tyler Maloney explains your challenge.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Prototype to Profit: Challenge Statement\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/U71_RoIe734?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"challenge-scenario\">Challenge Scenario<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Summary:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The world is filled with amazing inventions that could help a lot of people. There are flashlights powered by body heat and soccer balls that generate electricity. There are sensors that can detect lead in drinking water and solar-powered bikes that can help bring clean water to remote villages. But just because an idea is great, doesn\u2019t mean it will be a successful product. Great products need great business plans to succeed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Scenario:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The best entrepreneurs are able to take a great idea and create a plan&nbsp;for turning it into a business. This includes recognizing when an idea has potential and finding the best business model for getting it to customers. The plan includes defining a key business proposition that convinces investors that there are customers who will want to pay for the idea. The financial business plan&nbsp;includes analyzing revenue and expenses&nbsp;to show investors that the business can make a profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"challenge-statement\">Challenge Statement<\/h2>\n\n\n<div class=\"ncst-fancy-paragraph-fifty is-text wp-block-ncst-fancy-paragraph\">\n                  <p class=\"fancy-paragraph__text fancy-paragraph-left\">\n            In this challenge, you will review the\u00a0<a href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2025\/07\/Prototype-to-Profit-List-of-Innovations_revised2.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">List of Innovations<\/a> and select one (or research and choose another) to develop into a business. Your challenge is to build a plan and pitch that will convince investors to fund your business\u00a0for your chosen product. Your plan and pitch must:\n          <\/p>\n                \n<div class=\"wp-block-ncst-fp-accompaniment\">\n    \n<div class=\"wp-block-ncst-fp-image\">\n  <figure class=\"fancy-paragraph__image-container fancy-paragraph__image-landscape\">\n          <img \n        decoding=\"async\"\n        class=\"fp-image wp-image-\"\n        src=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Business-Meeting-Thumbnail.png\"\n         alt=\"\"               >\n          <\/figure>\n<\/div>\n\n\n  <\/div>\n\n\n              <\/div>\n      \n\n\n\n<ul class=\"wp-block-list\">\n<li>Explain what the product does and how it works.<\/li>\n\n\n\n<li>Describe your target customers and why they will want to buy your product, using <a href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Key-Business-Proposition-PDF.pdf\" target=\"_blank\" rel=\"noopener\">Key Business Proposition<\/a>.<\/li>\n\n\n\n<li>Include a financial business plan* that accounts for financial factors. Review <a href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Key-Business-Proposition-PDF.pdf\" target=\"_blank\" rel=\"noopener\">Key Business Proposition<\/a>&nbsp;and <a href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Business-Models-1.pdf\" target=\"_blank\" rel=\"noopener\">Business Models<\/a>.<\/li>\n\n\n\n<li>Describe for investors when your business will begin to make a profit.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">*Use the Prototype to Profit <a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1S8WSRRhdcY7r4ZO6-URrtPF48l6IVDW_\/edit?usp=sharing&amp;ouid=114908534592259578299&amp;rtpof=true&amp;sd=true\" target=\"_blank\" rel=\"noreferrer noopener\">Financial Business Plan Resource<\/a> to build your plan.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><a href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2021\/06\/121_DP_PrototypeProfit_Statement_TextPDF_tech-added.pdf\" target=\"_blank\" rel=\"noopener\">Prototype to Profit Challenge Statement<\/a><\/h4>\n\n\n<div class=\"ncst-labeled-section wp-block-ncst-featured-content ncst-featured-content is-card-style layout-three-column\">\n  <div class=\"ncst-labeled-section__background\">\n    <div class=\"ncst-labeled-section__container\">\n             <div class=\"ncst-labeled-section__content\">\n        \n<div class=\"wp-block-ncst-featured-content\"><a\n    class=\"ncst-content-card wp-block-ncst-content-card with-image\"\n    href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/challenges\/prototype-to-profit\/prototype-to-profit-prepare\/ \"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img loading=\"lazy\" decoding=\"async\" width=\"246\" height=\"138\"\n            class=\"content-card__image wp-image-271\"\n            alt=\"\"\n            src=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Business-Meeting-Thumbnail.png\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n srcset=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Business-Meeting-Thumbnail.png 246w, https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Business-Meeting-Thumbnail-230x129.png 230w\" sizes=\"auto, (max-width: 246px) 100vw, 246px\" \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\"><span class=\"text\">Prepare<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-bold\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-bold\">\n\t\t<\/svg><\/span><\/h3>\n              \n\n      \n              <p class=\"content-card__cta\"><\/p>\n          <\/div>\n\n  <\/a>\n\n\n<a\n    class=\"ncst-content-card wp-block-ncst-content-card with-image\"\n    href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/challenges\/prototype-to-profit\/prototype-to-profit-engage\/ \"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img loading=\"lazy\" decoding=\"async\" width=\"247\" height=\"138\"\n            class=\"content-card__image wp-image-563\"\n            alt=\"\"\n            src=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Profit-Sticky-Notes-Thumbnail.jpg\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n srcset=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Profit-Sticky-Notes-Thumbnail.jpg 247w, https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Profit-Sticky-Notes-Thumbnail-230x129.jpg 230w\" sizes=\"auto, (max-width: 247px) 100vw, 247px\" \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\"><span class=\"text\">Engage<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-bold\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-bold\">\n\t\t<\/svg><\/span><\/h3>\n              \n\n      \n              <p class=\"content-card__cta\"><\/p>\n          <\/div>\n\n  <\/a>\n\n\n<a\n    class=\"ncst-content-card wp-block-ncst-content-card with-image\"\n    href=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/challenges\/prototype-to-profit\/prototype-to-profit-persuade\/\"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img loading=\"lazy\" decoding=\"async\" width=\"247\" height=\"138\"\n            class=\"content-card__image wp-image-270\"\n            alt=\"\"\n            src=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Flowchart-Thumbnail.png\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n srcset=\"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Flowchart-Thumbnail.png 247w, https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-content\/uploads\/sites\/22\/2020\/05\/Flowchart-Thumbnail-230x129.png 230w\" sizes=\"auto, (max-width: 247px) 100vw, 247px\" \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\"><span class=\"text\">Persuade<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-bold\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-bold\">\n\t\t<\/svg><\/span><\/h3>\n              \n\n      \n              <p class=\"content-card__cta\"><\/p>\n          <\/div>\n\n  <\/a>\n<\/div>\n\n              <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Then do some research to identify and understand the users \u2013 the people or organizations who need a good solution to this problem. What do users need in a solution? Why? What\u2019s wrong with the solutions they have now? Setting the Stage with Your Challenge Champion Challenge Champion Tyler Maloney explains your challenge. Challenge Scenario&hellip;<\/p>\n","protected":false},"author":136,"featured_media":0,"parent":70,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"ncst_dynamicHeaderBlockName":"ncst\/default-header","ncst_dynamicHeaderData":"{}","ncst_content_audit_freq":"","ncst_content_audit_date":"","ncst_content_audit_display":false,"ncst_backToTopFlag":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-559","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/pages\/559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/comments?post=559"}],"version-history":[{"count":23,"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/pages\/559\/revisions"}],"predecessor-version":[{"id":4927,"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/pages\/559\/revisions\/4927"}],"up":[{"embeddable":true,"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/pages\/70"}],"wp:attachment":[{"href":"https:\/\/sites.ced.ncsu.edu\/design-and-pitch\/wp-json\/wp\/v2\/media?parent=559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}