loriejanebantaculo-entrepmind

[loriejanebantaculo-entrepmind]

"𝑬𝒄𝒐𝒃𝒓𝒐'𝒔 𝑳𝒂𝒔𝒕 𝑺𝒕𝒂𝒏𝒅: 𝑻𝒉𝒆 𝑼𝒍𝒕𝒊𝒎𝒂𝒕𝒆 𝑷𝒊𝒕𝒄𝒉 𝒇𝒐𝒓 𝒐𝒖𝒓 𝑹𝒆𝒗𝒆𝒓𝒔𝒆 𝑽𝒆𝒏𝒅𝒊𝒏𝒈 𝑴𝒂𝒄𝒉𝒊𝒏𝒆 "

ECOBRO_LORIE JANE A. BANTACULO

Our journey with Ecobro towards the final pitching was far from easy. It was filled with sacrifices and misunderstandings within the group. However, we managed to ensure the success of our final pitching presentation. Looking back at our midterm pitching, our performance was not up to par, with many shortcomings and lack of preparation. This realization prompted us to give our all and fill in the gaps during our last pitching.

We collaborated closely to create our prototype and address the questions raised by the panelists in our midterm pitching. We tackled crucial aspects such as proving the money-generating potential of our machine and assessing its feasibility. Despite initial conflicts and differing ideas within the group, we communicated effectively, aligned our goals, and worked together to defend our venture.

Through thorough preparation and increased confidence, we stood ready to defend our project. Despite the challenges, we managed to overcome conflicts, find common ground, and present a united front in showcasing our innovative idea. Our teamwork, dedication, and shared vision propelled us towards a successful final pitch presentation for the Ecobro reverse vending machine venture."

𝔈𝔫𝔱𝔯𝔢𝔭𝔯𝔢𝔫𝔢𝔲𝔯𝔦𝔞𝔩 𝔐𝔦𝔫𝔡 𝔏𝔢𝔠𝔱𝔲𝔯𝔢 𝔖𝔢𝔯𝔦𝔢𝔰

The Entrepreneurial Mind lecture series gave an in-depth discussion about the importance of intellectual property rights, start up ecosystem and its difference between a traditional business. I learned that a traditional business is a business that has already an established market and has proven to be scalable while a start up is a project, may be scalable, and offers a not so obvious solution. The speakers also emphasized the need to protect intellectual properties by having patents to gain exclusive rights over ideas and products.

The Entrepreneurial Mind lecture series delved into the significance of intellectual property rights, the startup ecosystem, and the distinctions between a traditional business and a startup. One key takeaway was the differentiation between a traditional business, which operates in an established market and has demonstrated scalability, and a startup, which is a project with potential scalability and offers innovative solutions that may not be immediately apparent.

The speakers underscored the importance of safeguarding intellectual properties through patents to secure exclusive rights over ideas and products. This protection ensures that the innovative concepts and products developed by startups are shielded from unauthorized use or replication, fostering a competitive edge in the market.

Moreover, the discussion shed light on the startup ecosystem, emphasizing the dynamic and evolving nature of startups compared to traditional businesses. Startups are characterized by their agility, adaptability, and focus on disruptive solutions to address emerging challenges and market gaps. This contrasts with traditional businesses that operate within established frameworks and market structures.

By recognizing the value of intellectual property rights, understanding the nuances between traditional businesses and startups, and navigating the complexities of the startup ecosystem, aspiring entrepreneurs can position themselves strategically to drive innovation, growth, and success in the competitive business landscape.

𝔈𝔫𝔱𝔯𝔢𝔭𝔯𝔢𝔫𝔢𝔲𝔯𝔦𝔞𝔩 𝔐𝔦𝔫𝔡 𝔍𝔬𝔲𝔯𝔫𝔢𝔶

"Throughout this semester, the Entrepreneurial Mind journey has been a rollercoaster of ups and downs. Our group, Ecobro, faced numerous challenges from deciding on our venture to the tragic loss of one of our member and a friend of mine due to a vehicular accident, to defending every pitching session. Despite the struggles, we gained invaluable learnings and unforgettable experiences. The sacrifices and stress we endured to excel in this subject while balancing hectic schedules were truly worth it. It exemplifies the quote 'No pain, no gain.' Overall, it was a success – Ecobro performed exceptionally well!"

[loriejanebantaculo-entrepmind]

"Pitch not Pristine: We have much to Learn, with Endless Curiosity to Earn."

By: ECOBRO_LORIE JANE BANTACULO

"Midterm Pitching: Our Journey with Ecobro"

The midterm pitching is one of the requirements to pass the Entrepreneurial Mind subject. We were not very prepared during that time because there were many quizzes and requirements in other subjects, especially in the major subjects. However, we still did our part to fulfill our responsibilities in these subjects. We experience hard time making our cost structure since we are engineering students. Although studying is manageable, it is not always perfect like it is for other business students who excel in such tasks effortlessly. The reality is that I struggle in every subject because I am just an average student. It takes a lot of effort and time to understand the concepts, especially in major subjects. Time management is a major struggle when balancing different subjects and allocating enough time to each.

Nevertheless, pitching is a mandatory task to complete, and the day of the presentation arrived. We prepared by creating a PowerPoint presentation, deciding who would present, and finalizing our business model canvas. The pitching took place at the CBM building, and we were the fifth group out of eight to present. As we entered the room, the pressure and doubt were palpable, knowing that the panelists were experts in the field. Despite this, we did our best, hoping that the standards would not be too high considering we were not a business students, and they would take our consideration.

However, things did not go as expected. We found ourselves cornered with every question they posed. I felt disappointed that I couldn't defend our product adequately. I struggled to answer their questions because, of course, they were experts in that field, and my knowledge on the subject was limited. Their suggestions and questions highlighted the need to improve our business model canvas and prepare better for the final pitch. I just felt that I lacked functionality during that critical moment, were I wasn't able to answer the question thrown.

One of their major concerns is that more money will be going out than coming in. They are questioning whether purchasers of our product will be able to make a profit considering the various expenses involved. The panel is skeptical about whether we can convince them to buy our product. There were also numerous corrections suggested in our business model canvas (BMC), and some revenue streams were removed. It was expected that our BMC would not be perfect since our background in business is not extensive.

Before the pitching session, we meticulously considered all aspects that needed to be addressed. As engineering students focusing on innovation, we also took into account the environmental benefits and how our product could help people. However, during the pitching session, we were scrutinized as business students rather than being appreciated for our innovative approach. This shift in perspective and the emphasis on financial viability posed challenges that we had not fully anticipated.

"Customer Validation: Insights from Central Mindanao University Students on Ecobro Reverse Vending Machine"

After our successful presentation of the Ecobro Reverse Vending Machine in the midterm pitch, we were tasked to get feedback from students at Central Mindanao University. We spoke with 15 students from different courses to hear their thoughts on our innovative solution. To make sure we got a mix of opinions, we randomly selected students from various courses with different backgrounds.

During the interviews, we explained how the Ecobro Reverse Vending Machine works and asked if they would use it. The students had different reactions. Some were enthusiastic and supportive of the idea. They liked the environmental benefits of the machine, seeing it as a way to reduce waste and keep the campus clean. They also appreciated the chance to earn money by depositing bottles into the machine.

However, not everyone was convinced. Some students had concerns about the financial side of the machine, questioning the investment needed to set it up. They doubted if it could generate enough profit from bottle deposits and worried about potential costs. Another group of students doubted the machine's effectiveness in tackling the broader issue of waste disposal. They felt that while it could benefit individual students, it might not solve the bigger waste management problem. They raised questions about where the waste would go and how it would be properly managed.

Despite these mixed opinions, most students were willing to use the Ecobro Reverse Vending Machine. They saw the positive impact it could have on the environment and on themselves. However, it's important to mention that some students still had concerns or were unclear about certain aspects of the machine. The insights from these interviews gave us valuable feedback. We now have a better understanding of the challenges and concerns that may come up when implementing the Ecobro Reverse Vending Machine. This feedback will help us improve our approach and address any issues or misunderstandings that potential users may have.

[loriejanebantaculo-entrepmind]

"Navigating the Seas of Venture Proposal and Customer Validation"

By: ECOBRO_LORIE JANE BANTACULO

"A Venture Forged in Adversity: Our Journey with Ecobro"

It was during our venture proposal where we faced an unexpected whirlwind of challenges. Juggling with multiple subjects, we found ourselves in a time crunch, with little room for thorough preparation. However, the strength of our team shone through as each member stepped up, pooling our collective efforts to bring our idea to life.

Just when we thought we had our hands full, tragedy struck. We lost a dear team member, Caryl, just two days before our proposal. The news was devastating, but we knew we had to move forward. We had to honor Caryl's memory and the hard work she had put into this project. With heavy hearts, we divided the tasks, each taking on the responsibility of creating the PowerPoint presentation and deciding which part to pitch. For me, public speaking was never my strong suit, but I knew I had to step out of my comfort zone for the sake of our team and our venture.

We were the third team to present, and the pressure was palpable. The first two teams had set the bar high, but we were determined to rise to the occasion. Our venture, the Ecobro Reverse Vending Machine, was our brainchild, and we were ready to defend it. Our professor was hesitant, questioning our ability to create a prototype. But we had done our research and were prepared to prove we can possibly make the job done . We presented our plan for the prototype, standing our ground, and defending our venture.

As we concluded our presentation, we couldn't help but smile, knowing that we had successfully defended our proposal. We knew there were areas for improvement, particularly in our pitching skills, but we were proud of what we had achieved under such circumstances. Most importantly, we knew Caryl would have been proud of us. Our journey with Ecobro was not easy, but it was a testament to our resilience, teamwork, and dedication. We faced adversity, but we came out stronger, ready to take on the next challenge. And no matter where our venture takes us, we know we have an angel in heaven, cheering us on.

"Customer Validation: Insights from Central Mindanao University Students on Ecobro"

After successfully defending our proposal for the Ecobro Reverse Vending Machine, our team was eager to gather feedback and validate our product with potential users. We conducted interviews with 20 students from different courses at Central Mindanao University, aiming to understand their perspectives and gauge their interest in utilizing our innovative solution.

To ensure a diverse sample, we randomly selected students from various courses, representing a range of backgrounds and interests. During the interviews, we introduced the concept of the Ecobro Reverse Vending Machine and asked the students if they would use it or what their thoughts were on the machine.

The responses we received were varied, with some students expressing enthusiasm and support for the idea. They acknowledged the environmental benefits of using the machine, as it would help reduce waste and contribute to a cleaner campus. Additionally, they highlighted the financial incentive, recognizing that they could earn money by depositing bottles into the vending machine.

However, not all students were convinced. Some expressed concerns about the financial aspect of the machine, stating that implementing it would require a significant investment. They questioned the feasibility of earning a profit from bottle deposits and raised doubts about the potential costs involved.

Another group of students had reservations regarding the machine's effectiveness in addressing the broader issue of waste disposal. They pointed out that while the machine may benefit individual students, it may not necessarily solve the overarching problem of waste management. They questioned where the waste would go and how it would be properly disposed of.

Despite these differing opinions, the majority of students expressed their willingness to use the Ecobro Reverse Vending Machine. They recognized its potential benefits for both the environment and themselves. However, it's important to note that some students still had reservations or confusion about certain aspects of the machine.

The insights gathered from these interviews provided valuable feedback for our team. We gained a deeper understanding of the potential challenges and concerns that may arise during the implementation of the Ecobro Reverse Vending Machine. This feedback will help us refine our approach and address any issues or misconceptions that may arise among potential users.

Overall, the customer validation process was an essential step in our venture's development. It allowed us to engage with our target audience, understand their perspectives, and gather valuable insights that will guide us in further improving our product. With this feedback in mind, we are more determined than ever to create a sustainable and user-friendly solution that addresses both environmental concerns and the needs of our users.

Stay tuned for more updates on our journey with Ecobro as we continue to refine our product and work towards making a positive impact on the environment and the community!

[loriejanebantaculo-entrepmind]

"Embarking on the Venture: Turning Everyday Obstacles into Exceptional Solutions"

By: GREENBRO_LORIE JANE BANTACULO

During our interviews with students, and some of the vendors and staff at our University, we discovered several significant challenges that impact their daily lives and academic experience. These challenges have a direct influence on their overall well-being and ability to thrive in their educational pursuits. We started our journey by reaching out to various students and staff members at our university. We wanted to understand their perspectives and gather insights about the problems they have observed within the university. Our goal was to create a comprehensive picture of the challenges faced by the university community.

One of the most prevalent concerns among the students is the 𝑇𝑟𝑎𝑠ℎ-𝑟𝑒𝑙𝑎𝑡𝑒𝑑 𝑝𝑟𝑜𝑏𝑙𝑒𝑚 . Students, vendors and staff highlighted the lack of trash bins and proper waste segregation practices in public spaces on campus. Another pressing issue that emerged from our discussions is the 𝑙𝑎𝑐𝑘 𝑜𝑓 𝑠𝑡𝑟𝑒𝑒𝑡𝑙𝑖𝑔ℎ𝑡𝑠 𝑖𝑛 𝑐𝑒𝑟𝑡𝑎𝑖𝑛 𝑎𝑟𝑒𝑎𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑐𝑎𝑚𝑝𝑢𝑠. This creates safety concerns, especially during nighttime when students have to walk to their dormitories or attend evening classes. Financial constraints were also a recurring theme during the interviews. Many students expressed frustration with the 𝑒𝑥𝑝𝑒𝑛𝑠𝑖𝑣𝑒 𝑔𝑎𝑡𝑒 𝑝𝑎𝑠𝑠 𝑠𝑡𝑖𝑐𝑘𝑒𝑟𝑠 required for access to certain areas on campus. The high cost of these stickers places a significant financial burden on students, particularly those who are already on a tight budget. 𝑇ℎ𝑒 𝑙𝑖𝑚𝑖𝑡𝑒𝑑 𝑟𝑒𝑠𝑜𝑢𝑟𝑐𝑒𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑙𝑖𝑏𝑟𝑎𝑟𝑦 were a common concern among the students. They expressed disappointment with the lack of diverse reading materials and restricted access to necessary research materials. 𝑇𝑟𝑎𝑛𝑠𝑝𝑜𝑟𝑡𝑎𝑡𝑖𝑜𝑛 𝑖𝑠𝑠𝑢𝑒𝑠 were also raised during the interviews. Some students mentioned the inconvenience of long waiting times for public transportation or the lack of efficient transportation options in certain areas around the university. This can lead to difficulties in commuting to and from the campus, affecting their punctuality and overall attendance. 𝐼𝑛𝑠𝑢𝑓𝑓𝑖𝑐𝑖𝑒𝑛𝑡 𝑤𝑎𝑖𝑡𝑖𝑛𝑔 𝑠ℎ𝑒𝑑𝑠 emerged as a problem, particularly during extreme weather conditions. Students expressed the need for adequate shelter while waiting for transportation or during heavy rain. There are few that mentioned the 𝑤𝑒𝑎𝑘 𝑚𝑜𝑏𝑖𝑙𝑒 𝑑𝑎𝑡𝑎 𝑎𝑛𝑑 𝑊𝐼𝐹𝐼 𝑠𝑖𝑔𝑛𝑎𝑙 in certain areas of the university campus. This poses a significant obstacle for students who heavily rely on internet connectivity for research, online learning, and communication. They also highlighted the inconvenience of having to travel long distances to access printing facilities, which can be time-consuming and costly. 𝐷𝑖𝑠𝑡𝑎𝑛𝑐𝑒 𝑡𝑜 𝑤𝑎𝑡𝑒𝑟 𝑠𝑜𝑢𝑟𝑐𝑒𝑠, 𝑙𝑖𝑚𝑖𝑡𝑒𝑑 𝑠𝑛𝑎𝑐𝑘 𝑜𝑝𝑡𝑖𝑜𝑛𝑠, 𝑝𝑟𝑒𝑠𝑒𝑛𝑐𝑒 𝑜𝑓 𝑜𝑢𝑡𝑠𝑖𝑑𝑒𝑟𝑠, 𝑙𝑖𝑚𝑖𝑡𝑒𝑑 𝑝𝑟𝑖𝑛𝑡𝑖𝑛𝑔 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠, 𝑐𝑙𝑎𝑠𝑠𝑟𝑜𝑜𝑚𝑠 𝑤𝑖𝑡ℎ 𝑝𝑜𝑜𝑟 𝑣𝑒𝑛𝑡𝑖𝑙𝑎𝑡𝑖𝑜𝑛, 𝑎𝑛𝑑 𝑢𝑛𝑝𝑟𝑒𝑑𝑖𝑐𝑡𝑎𝑏𝑙𝑒 𝑤𝑒𝑎𝑡ℎ𝑒𝑟 were identified as key areas of concern by few students.

After gathering the data we collected, we discovered that the issue of garbage has garnered the most attention and concern. In response, our team engaged in an intensive brainstorming session to devise innovative and unprecedented solutions that incorporate cutting-edge technology. Our aim was to develop a new venture or proposal that not only addresses the problem at hand but also presents a lucrative opportunity for financial gain.

Options such as waste management apps, reverse vending machines, Eco drone, plastic furniture, eco blocks, and customized portable trash bins were available. We have already seen one aspect of these solutions' differences which is its startup costs and assessed feasibility for implementation. Since we are in a digitized era, a waste management app seems to be a feasible solution but due to the seemingly high start-up costs it requires, we have no choice but to eliminate it as our option.

Our venture proposal serves as a model of how a reverse vending machine might be introduced and used in the university. It was imaginatively put out using the team members' combined thoughts and viewpoints, and it was hypothesized to be the ideal answer to the issue of waste and garbage disposal, especially recyclables. As an overview, a reverse vending machine (RVM) is a machine that allows a person to insert a used or empty glass bottle, plastic bottle, or aluminum can in exchange for a reward. After inserting the recyclable item, it is then compacted, sorted, and analyzed according to the number of ounces, materials, and brand using the universal product code on the bottle or can. Once the item has been scanned and approved, it is then crushed and sorted into the proper storage space for the classified material. Upon processing the item, the machine rewards people with incentives, such as cash or coupons.

As far as what our interview has come up with, I now know that before beginning a business, it is important to look at alternatives that could provide the same or even greater benefits for the service or good we are providing while aiming to spend less money. We should explore widely and see what’s there that we failed to consider. The viability and profitability of these alternatives will next be evaluated.