Project on Idea Generation: Pen-Structured Water Purifier Innovation

This project proposes a pen-structured water purifier designed for travelers, offering real-time water quality analysis via mobile phones. It addresses market problems such as customer identification and resource availability, employing the Business Model Canvas for strategic management and disruptive innovation. The project details the business model, monetization strategy targeting rural areas, and financial feasibility, including projected income, depreciation, and cash flow. It also assesses operational feasibility, emphasizing portability and disease prevention, and discusses the product's scalability, potential investors' roles, and expected support. The project concludes with a comprehensive bibliography of relevant academic sources on innovation, sustainability, and business models.

IDEA GENERATION

Introduction
Innovation in customer goods industry is
required to be the focus
The idea generated is the pen structured water
purifier
It helps in providing direct idea to the mobile
phones
The needs of the customers have prompted
changes in the innovation of the water purifier
The smart assistance that can be obtained from
the product includes gaining accessibility of the

New idea generated
A pen structured water purifier that can help the
customers travelling around the globe. It can
provide the user with information regarding
salinity and heavy metal contents in water

The market problem
Lack of identification of the target customers
Convincing the people about buying the
product
Availability of key resources

The application of the business model canvas of
Osterwalder and Pigneur can help in effectively conducting
strategic management
The visual chart can help in focusing on the value
proposition through the selling and distribution of the
products
At the same time disruptive innovation can be used to make
changes in the process of the company implying this
innovative technique
Business model used

Four key elements of start ups
Value proposition
Customer relationships
Channel
Revenue model

How the business process will
work
Owners of cars can
register their cars with
the business using the
company’s mobile
application.
The owners’ cars
would be tested for
quality and legal
ownership
The customers who
wish to rent the car
can register on the
mobile application and
rent out their
preferred car for their
preferred time
duration
The customer’s identity
would be validated and
police verification
would be conducted
Car can be rented to
customer

Monetising the idea
The idea can be monetised by identifying a target
market. The target market for this innovation
technique are people that reside in the rural areas
Analysing the network channels so that effective
investment can be found for starting the
development of the process

Financial feasibility
Year 1 Year 2
Net income ##### #####
Depreciation $61,200 $62,424
Accounts receivable ($90,000) $0
Inventories $0 $0
Accounts payable $0 $0
Amortization 5,000 5,000
Other liabilities 10,000 10,000
Other operating cash flow items 0 0
Total operating activities $179,722 $274,816
Capital expenditures $0 $0
Acquisition of business 0 0
Sale of fixed assets ($90,210) ($92,014)
Other investing cash flow items 0 0
Total investing activities ($90,210) ($92,014)
Long-term debt/financing ($95,000) $0
Preferred stock 0 0
Total cash dividends paid 5,000 5,000
Common stock 0 0
Other financing cash flow items 0 0
Total financing activities ($90,000) $5,000
($488) $187,802
$0 ($488)
($488) $187,314

Operational feasibility
Customers can take the product anywhere they go and
analyse the water content before consumption
This can help in reducing any type of diseases that are
caused due to the consumption of water
Removal of unhealthy toxins from the water level

Scope and scalability of the idea
The scalability of the product is that it can be used increase the
capacity of the water container without having to make any
fundamental changes.
The manner in which the toxic wastes and any kind of excess
amount of unhealthy items are detected provides the scope of
success in the future.
The inclusion of Ph Level tester can help in identifying any level
of toxins in the water level

Role of investors
The expected support from the investors is to provide proper
financial support so that it can be developed in the future
In return the investors can be given with a sample of the
product and a demonstration can be made that can help them
to analyse the functioning of the product
The investors need to ensue that the budget of the product is
kept under control and such assurance need to be provided
by the developers by recruiting talented man power for the
development of the product

Bibliography
 Adams, R., Jeanrenaud, S., Bessant, J., Denyer, D., & Overy, P. (2016). Sustainability‐oriented innovation:
a systematic review. International Journal of Management Reviews, 18(2), 180-205.
 Anderson, N., Potočnik, K., & Zhou, J. (2014). Innovation and creativity in organizations: A state-of-the-
science review, prospective commentary, and guiding framework. Journal of Management, 40(5), 1297-
1333.
 Bain, D., & Kleinknecht, A. (Eds.). (2016). New concepts in innovation output measurement. Springer.
 Kleinknecht, A. (2016). Innovation patterns in crisis and prosperity: Schumpeter’s long cycle
reconsidered. Springer.
 Kogan, L., Papanikolaou, D., Seru, A., & Stoffman, N. (2017). Technological innovation, resource
allocation, and growth. The Quarterly Journal of Economics, 132(2), 665-712.
 Lusch, R. F., & Nambisan, S. (2015). Service innovation: A service-dominant logic perspective. MIS
quarterly, 39(1).
 Porter, M. E., & Heppelmann, J. E. (2015). How smart, connected products are transforming
companies. Harvard Business Review, 93(10), 96-16.
 Serrat, O. (2017). Business model innovation. In Knowledge Solutions (pp. 499-507). Springer,
Singapore.
 Tukker, A., Charter, M., Vezzoli, C., Stø, E. & Andersen, M.M. eds., (2017). System innovation for
sustainability 1: Perspectives on radical changes to sustainable consumption and production. Routledge.
 Van Oort, F. G. (2017). Urban growth and innovation: Spatially bounded externalities. Routledge.
 Vargo, S. L., Wieland, H., & Akaka, M. A. (2015). Innovation through institutionalization: A service