Technology Ventures: From Idea to Enterprise 4th Edition (0073523429) You have invented a personal submarine that can operate at about 10-20 feet below the surface of the ocean or a lake. It has windows for viewing. It holds four to five people (crew weight of about 900 pounds) and you theorize that people who enjoy snorkeling might enjoy buying one. You have built a prototype and its electric batteries enable about a one-hour cruise with a safety margin of about fifteen minutes. If the battery dies, you can immediately surface and row to port. One estimate of manufacturing cost is $100,000 so you theorize there is a market for personal use and tourism promotion. One issue that comes up is how one launches this submarine and what a support pier, if needed, might look like. A friend who is a civil engineer has joined your team to work on this opportunity. CH1 Venture Challenge 1. Describe the opportunity that attracts you and why you think it is a new venture opportunity. 2. Describe the competencies and skills you and your team members possess. 3. What important stakeholders will you need tobe successful? 4. Describe the passion and commitment you have for the opportunity. 5. Is this a good opportunity for you? CH2 Venture Challenge 1. Using Table 2.1, attempt to categorize the type of opportunity you have selected. 2. How could you develop your customer at the same time as develping your product or service as shown in Figure 2.3? 3. Evaluate your opportunity using Table 2.7's principles and Table 2.8's process. Sketch a diagram using Figure 2.5 to illustrate your results. CH3 Venture Challenge 1. Create a brief vision statement for your venture. 2. State the value proposition for the venture. 3. Create a draft business model for the venture using the canvas elements in Figure 3.4. CH4 Venture Challenge 1. Develop a SWOT analysis using the format of Table 4.4 2. Select your strategic approach from Table 4.6 3. Create a partnership strategy as described in Section 4.7 4. Describe your strategy in one or two sentences that could be circulated to your employees and allies. 5. Why and how will your venture be socially responsible?