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A business model innovation of IoT data analytics-aided I.P. Incubator
aim to lead the Autonomous Electric Vehicle (A-EV) Industry
Problem
How might we help LHP in creating a long-term monetary business model using the IoT ecosystem and DAS (Data Analytics & IoT Solutions) assets of LHP that should bring new clients of the A-EV Industry and make LHP a leader in digital transformation services?
Sprint Project Solution in Enterprise Design
LHP Nest Incubator creates Intellectual Properties (I.P.) using Design Consultancy and Functional Safety Analytics of LHP’s DAS platform for the Autonomous Electric Vehicle (A-EV) industry.
The Incubator includes the following leverages -​
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1. Open-source IoT data of the A-EV industry would be used to develop an I.P.
2. Sharing of contractual data from the clients would be used to reinforce the I.P. algorithm​
​ 3. Advanced I.P. with functional safety consultancy for Autonomous EVs would attract new clients.
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“The idea of an Intellectual Property presented to us that can help our current DAS team in building a continuously evolving algorithm for the A-EV industry, we've never thought like this, we are seeing potential in this model!"
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~ Commented by Bryan Rushton, Director of Operations, LHP
UX Research Team
Nirmalkumar Patel
Abhinav Shikharam
Matthew Mills
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Mentors
Bryan Rushton
Director of Operations,
LHP Engineering Solutions
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Lou Lenzi
Professor of Practice, SOIC, IUPUI
Design Director (retd.), GE Appliances
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Work (8 Weeks): Design a new service in DAS (Data Analytics & IoT Solutions) transformation for the Autonomous Automobile industry to retain long-term work contracts.
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Tools: Team framework, Dependency map,
Environmental analysis, Landscape map,
Business model canvas, Persona building,
Value proposition map, Customer profiling, Industry literature review, User interviews,
Figma, Balsamiq, Photoshop, SWOT analysis
Background
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LHP’s Digital Analytics & IoT Solutions (DAS) business unit is an engineering services agency offering Industry 4.0, Advanced Analytics, and Digital Transformation services to its clients.
They are successful in delivering “sustaining” and “efficiency” innovation for their clients but want to drive its services towards “transformative” innovation.
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Client Goal
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While DAS has been extremely successful – and with a top-tier customer portfolio across several industries - this approach comes with limitations:
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From the client side, this approach does not enable them to fully leverage the transformative nature of organizationally integrated, connected devices platforms.
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From the LHP side, this “piecemeal” approach limits DAS’s value to the client – in both long-term relationships and the dollar value of the engagement.
Objective
Create an innovation services framework that takes LHP DAS to the next level as a Digital Transformation Services organization. We will refer to this Digital Transformation Service as DAS Transform.
Goal
A digital strategy offering that allows DAS to compete and win these larger digital transformation engagements. We will present this new service offer through a DAS Transform Value Proposition Design and Business Model Canvas.
Design Challenge
How can LHP leverage its current DAS assets to offer strategic, digital transformation engagements – from concept to execution - with its current customers and future new customers?​
leverage IIoT/Data Analytics engineering services of DAS business – to provide transformative innovation services to its clients via exploring -
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the various techniques to unlock business innovation,
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assess the competitive landscape DAS will play in,
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Finally, provide them with a redefined business model based on value propositions and customer profiling.
We researched 3 options that can potentially create long-term business ventures with SWOT analysis of each -
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New Business Incubator
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Investment/Acquisition Funds
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Intrapreneur Program
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What is it? Its program helps startups transcend technological barriers to training and venture capital investment. Most of all Fortune 500 has some sort of incubator/s for exploitation and exploration to become ambidextrous.​
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Architecture
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​The Entrepreneurial mindset
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Market under the parent brand
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Product development, scale, and roadmap​
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What to look for? product growth & development vs profits
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Best benefit? Quick scaling from start-up to venture capital
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Case Study 1 - Google Area 120
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Google allows 20% of employee time
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New ventures - Google News, Google VR cardboard​
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Why do we care?
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​​Radical ideas and ventures
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Complete legal rights until ready-to-deploy
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Spun-off new entity and sharing of stocks
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Case Study 2 - Phillips Healthworks
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Sprint-based incubator
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External people as a helping hand
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Direct & indirect investments
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Innovation hubs in 100+ countries
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Why is it a trend? The struggle of corporate giants to keep up with consumer needs and tastes against comfortably changing nimble start-ups has led top 75 Fortune 100 companies to look into investment options as the investment helps build the ongoing relationship with start-ups for the future buy-out reception/acquisition.​
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Architecture
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​Too similar to a start-up business plan
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Aiming high profit in less time
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Investors provide market intelligence for the growth
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Product development, scale, and roadmap​
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What to look for? The value of investing companies directly depends on their selection of investment targets
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Best benefit? The expertise and knowledge of the employees of acquired companies are easily available.
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Case Study 1 - Cisco acquired Sentryo
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A French company expert in device visibility & security
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It is used for providing easy security set up in​
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existing Cisco home devices.
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Why do we care?
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​​Board control via buying 51% stock
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Freehand to use the existing research of the acquired company in ambitious projects.
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No need to start with radical ideas
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Case Study 2 - Tenable acquired Indegy
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Indegy is a start-up company for IoT security
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The Indegy integration with Tenable.io, for cloud-based vulnerability management
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Brought operations technology expertise.
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What is it? Intrapreneurs are the people who have been given the freedom to use a part of the prime budget of the corporation into their own potential ideas regardless of looking at current profiting products.​
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Architecture
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​Freedom of goals regardless of existing road map
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Training sessions for intrapreneurs
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Intrapreneurs can be new/young employees or
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​ senior-level experts and a group of diverse fields​
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What to look for? budget leniency, Time extension and team motivation
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Best benefit? Patent filing of Intellectual Properties
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Case Study - Amazon's 1- Click Purchase
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In 1997, Amazon programmer Peri Hartman got frustrated over the hustle in online ordering and created a program as part of Amazon Intrapreneurship that allows shoppers to buy a product with only one click.​
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the sale went 5% higher just by implementing into existing websites
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Amazon patented it as '1- Click Purchase' and made billions by licensing it to big corporations like Apple.
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Why do we care?
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Finding radical solutions for existing products
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Keep ahead in a highly competitive market
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Sometimes it is the only chance for survival
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boost positive work culture and help the corporation to retain top talent
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Empathized the existing DAS team
and created the value proposition for potential business (a new M.V.P.)
Value Proposition
Customer Profile
We focused on the following 3 main sectors of the automobile industry and proposed a new business model and work architecture for each while keeping the above value proposition in mind...
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​Autonomous Commercial Vehicle (Matthew Mills)
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Consumer Vehicle Maintenance & Supply Chain Management (Nirmalkumar Patel)
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Fleet Vehicle Management & Maintenance (Abhinav Shikharam)
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Drafted out our proposed LHP DAS Architecture...
Proposed new LHP DAS Business Model...
Directors of Operations
42 years old
ROUTINE
He has been working with LHP Inc. since 2017 and has an extensive project portfolio comprising the automobile industry, energy sector, banking, etc.
FEEDBACK
"We have clients like Ford and GM and they are transitioning into the Electric Vehicle industry and there is much research already going in the EV sector so I want to think one step ahead and want to the Autonomous EV (AEV) industry as that market has great potential in supply chain management, distribution and commercial delivery that has limited competitors right now."
COO
38 years old
ROUTINE
He is managing all operational projects of the LHP DAS platform since 2019 and overseeing the expansion of the DAS platform in the automobile sector.
FEEDBACK
"I have got my attention to the 'new business incubator' option as we have a dedicated DAS team made of web developers, telematics engineers, data analysts and projectors so I can see the potential of the new innovation in a certain direction that you may come up with. "
How might we help LHP in creating a long-term monetary business model using the IoT ecosystem and DAS assets of LHP that should bring new clients of the Autonomous Electric Vehicle Industry (A-EV) and make LHP a leader in digital transformation services?​
Final Business Architecture
LHP Nest Incubator
A continuous evolution of Intellectual Property for AEV Industry
Intial Phase
Iterating Phase
Optimal Positioning - Field of View (FOV)
Operational Design Domain (ODD)
DAS team members
Open-source EV IoT data
Bryan Rushton
Directors of Operations, LHP Inc.
“The idea of an Intellectual Property that can be a long-term contractual aide for us by leveraging our DAS team to build a continuously evolving algorithm for the A-EV industry, we've never thought like this, we are seeing potential in this model!"
Alex Thatcher
COO, AMP Inc.
“I am happy that your team has proposed the incubator that can be leveraged using open-source data which would let us spend more on our DAS team and less on legal formalities and I also appreciate the idea of the continuous evolution of algorithm of our DAS thorough feeding shared data of our clients and this may help us getting long-term contracts in AEV industry.”
An honest SWOT analysis of the 'Nest Incubator'...
Strengths
Weakness
Opportunities
Threats
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Future Considerations
Licensing I.P. to start-ups
I.P.s can be licensed to start-ups against big corporations to stay on the top of the AEV market.
Extending I.P. to consumer EVs
The algorithm can be implemented to consumer vehicles that are being transitioned to semi/fully autonomous by big corporations like Ford, GM
I can dub myself 'adept' on business architecture design
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I got a thorough knowledge of industry ethos
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Market Analysis is a normal thing for me now
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Wanna catch up over coffee/tea
or whatever edible in veg? 😜
