Week 3

March 3, 2020

Project Scope & Hypotheses Definition Week // Meet the teams! 03.03.2020

After the big Kick-off event, our teams could finally take a deep breath, collect their thoughts and get ready for action – the working time has begun! Over the last week, the teams have been fine-tuning their ideas based on feedback they got from our corporate partners in the previous week. They have outlined their project scopes and defined the tasks for the next weeks to come. One of the tasks was to present their ideas for our blog, so here they are - the teams and ideas of “The Mission II: Banking – Be Green”!

Team 1: Budge (Innovation field “Consumption”)

We are Naima, Quang, Mridul, and Niklas, and together we are Team Budge.  

Our international and interdisciplinary team pursues one common goal: We would like to turn sustainably thinking people into sustainably acting people. That is why we are developing an app that would empower people to take environmentally friendly measures and support them by integrating sustainable habits into their everyday life. With the combination of a community and a gamification approach, we show that a change of habits is not always frustrating but can instead be fun.  

What does this mean for you in your everyday life? By accepting a personalized "Challenge," we show you how to make daily, conscious decisions not only for the environment but also for your wallet. For example, we'll have a "Coffee-to-go"- Challenge: With the conscious decision of bringing a coffee from home, rather than buying a coffee on the go, you don´t just save money, but you also don´t produce any additional waste. Do you accept the challenge? Then become part of our community! Join us at budge-app.com 🚀  

Team 2: Drive ´n´ Play (Innovation field „Mobility“)

We're the "Drive 'n' Play" team – Niklas, Pieter-Jan, Linda and Nikhil. In our innovation field "Mobility," there are plenty of possibilities of how to become "greener." In addition to the use of alternative drive systems, there is also great potential in a more sustainable and, therefore, more fuel-efficient driving style. Since the majority of the cars in the streets are still the ones with combustion engines, we’d like to reach exactly these drivers with our idea.  

Many modern vehicles are already capable of analyzing individual driving styles. Therefore, drivers can get information on how efficiently they brake, accelerate, or roll out… However, only a few drivers use this information to improve their driving behavior.

We want to change this by using the data recorded by a vehicle to give drivers comprehensive and clear feedback. Our goal for the next few weeks is to find out which incentives are attractive for drivers and would actually motivate them to drive in a more environmentally friendly way.

Team 3: Retirement (Innovation field “Retirement”)

We, Yaprak, Francisco, Alessandro, and Simon, are a four-person team of four nationalities with backgrounds, careers, and specializations that could hardly be more different.  

However, we are pursuing one common goal together in the Futury innovation project: a sustainable solution in the field of insurance and investment for financial security in the retirement age. Knowing that a state pension won’t suffice for the kind of lifestyle and standard of living we’re used to having in on younger age, we’d like to inform the young generation about the importance of alternative insurance solutions. At the same time, it is our goal to develop attractive investment opportunities in cooperation with the Deutsche Bank and Zurich Insurance. These investments will be attractive for the young generation because they will not only guarantee the necessary financial security in the future but also resonate with their values.  

Thus, we’re creating a sustainable solution by allowing clients to invest in sustainable projects and verified and transparent ESG funds. The prototype of our product will be a personalized, easy to use modular dashboard, which can be brought to the market as an additional interface to existing services of our cooperation partners.  

Team 4: Education (Innovation field “Education”)

In the last 20 years, the number of students at private universities has increased by 90% (comparison: public universities: 32%; source: Statista). However, studying at a private university means a financial burden for students that is approximately ten times higher than studying at a public university - and this only affecting tuition fees (source: Statista). Therefore, many students have to take a student loan. However, the choice of attractive and inexpensive student loans is only limited and none of the current providers link the financing of student loans with a sustainability concept.  

We want to change this by launching a new and innovative student loan platform, which ranks study programs in Finance/Business Management according to their sustainability components (e.g. content on sustainable finance, ethics, sustainable development etc.).  

Our idea is the following: If students choose a study program with a better ranking, they will automatically receive better conditions for their student loan (e.g. lower interest rates). In this way, we not only want to encourage students to pursue finance/business studies that convey the idea of sustainability but also to encourage universities to integrate sustainability aspects into their study programs.  

We are currently in the phase of market research (rankings, interviews with students) and competition analysis. At the same time, we are in regular contact with our corporate partners to check the feasibility of our idea. We hope to have created a prototype website and a solid framework for our sustainability ranking at the end of the three months program.  

Our goal is to evaluate at least three private universities and their Finance/Business programs based on our framework and offer potential loan options for their prospective students on our website.  

Team 5: Your Choice (Innovation field „Food“)

In our team, we research the current shopping behavior of German consumers and want to enable people to make more sustainable purchasing decisions at supermarkets with our app. We notice a massive increase in awareness for environmental issues in Germany and yet this awareness is not always being converted into sustainable actions.  

With the app "Your Choice", we want to give every smartphone user the tool to measure the impact of their actions by calculating the CO2 and social footprint of every shopping list in a supermarket. Besides, we offer customers the opportunity to improve their shopping behaviors by setting challenges. Our prototype should include a complete user journey so that we can test which functions users would like to use in our app.  

All five ideas sound extremely promising and we can’t wait to see them unfold and develop in the next weeks. We’ll keep you updated ;) Next week, we have a very special corporate guest visiting our teams, as well the first on-site visit to one of our corporate partners.

Stay tuned!


Laura & Team Futury


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