TM V: Week 3

March 8, 2021

After the pitch is before the pitch, and our teams are diligently working on developing their ideas further. At the kick-off pitch last week, they received rich feedback from our corporate partners and since the beginning of this week, they are finetuning their project’s scope.

From Monday on,our teams dived into another week of both guided workshops and self-organized working time in which they further developed their ideas and grew together as a team. To facilitate the progress, we could welcome back Bain & Company fora session on Agile Project Management,which – in contrast to traditional project management – uses short development cycles with a focus on the continuous development of a product. Following this iterative approach, our teams will – from now on – work on pre-defined weekly sprints that cover all important steps of the product development, including market research, business models, prototyping and testing.

During this week’s sprint, the teams focused on the project scope and the development of hypotheses that will be tested to – slowly but surely – approximate their solutions. During a workshop on User Research by Bain & Company, our teams were able to learn about market research to develop skills to fully understand what their potential customers need. Analyzingusers, including their pain points, is an essential part of productdevelopment, and extracting the sharpest possible insights requires thorough and thought-through methods. Using a broad set of methods, ranging from quantitative to qualitative approaches, allows our teams to expose problems, which will be a crucial information for their design process, and to develop solutions that are market-ready and likely to succeed.

Consequently, itis important to develop a stakeholder management strategy that defines and documents our teams’ approach towards all parties that can possibly influence their project. Key stakeholders range fromthe potential customers over media outlets to investors but especially in the context of sustainability, the wide public in general is heavily involved.Thus, it is important to stay close to the stakeholders during the product development but also beyond when entering the market.

With are-defined concept of their idea, our teams entered a workshop on the Sustainability Innovation Framework led by the Werte-Stiftung and Jannis from Futury to tackle the process ofsustainable idea development. Specifically, they were asked to define theirideas’ positive impact that can touch upon the ecological, economic, and / or social pillar of sustainability. As driver for a more sustainable future, the idea should be tested against these benchmarks and as a viable business solution, these KPIs should be part of the overall decision-making process.

When aiming fora more sustainable future, it is a tough choice to focus on only one challenge (or a few) instead of dreaming of a solution that could solve all problems atonce. Further, it is challenging to consider and accept downsides of ideas that seemed to be a solution for one challenge but negatively impacts another. On that note, we were blown away by our talents’ good judgment and sense ofreality.

During the lastweek, our teams have demonstrated both their motivation and their capabilities to independently work on their ideas and to push their projects forward. Yet, we will support them through our status calls on Mondays – together with our corporate partners – as well as our check-out calls on Fridays, and we are excited to see their development and growth.

As always, stay tuned and stay healthy,

Your Futury-Team

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