And how the highlights and challenges of the SPACE RACE helped them get closer.
November 1, 2016
Some of the highlights from participating in the CAI/NASA competition, that were most memorable, were the webinars. The webinars aided and educated all participants in developing their entrepreneurial skills on a variety of topics. The webinars ranged from engineering Q&As to marketing analysis and business planning, which are presented live (for maximum participation) and recorded to allow for review later. The other key features of the competition for me was learning how to develop and construct a business plan. The business plan had to be strong to encompass various topics and critical analysis of the start-up company's projections. Which brings me to some of the challenges that I faced during the start-up incubation period.
Being outside of my element, as an engineer, many of these marketing strategies and projections were foreign to me. Especially, the financial planning which required estimating the company's health years into the future, without some way of having a solid understanding to map the road ahead or statistical equations/algorithms to make the analysis easier. Much of the analysis and modeling were subjective and made me feel uneasy in terms of mathematical backing; however, our team managed to pull through.
I speak on behalf of my team, when I say we are thankful for the opportunity that NASA and CAI has bestowed upon us. Given the opportunity to put our skills to work and test our mettle on the open market. We will continue to endeavor for bringing affordable SOFCs to various open markets, and becoming a major player in renewable energy production.
The Center for Advancing Innovation