You are required to identify a unique problem/opportunity and develop a business model canvas around the solution being presented. The problem/opportunity should be related to a key trend in a specific industry. The report has several sections:

1. Provide a detailed description of a key trend focusing on a problem or opportunity of consumers unmet needs. You are to specifically analyse the industry(ies) that are impacted by the key trend.
2. You are next to provide a detailed novel solution to the opportunity or problem you have identified within the key trend identified in part 1 above. You should explain in detail how the novel solution differs from existing offerings and from potential competitors. A novel solution is defined here as something that is new and innovative and can be an international solution (i.e. sold in a different country) if necessary.
3. A key focus of the Initial Idea Report is to concentrate on the customer. Here you provide a comprehensive explanation of your target customer using one of the following: Value Proposition Canvas (VPC) OR Persona OR Empathy map. You should provide some narrative explaining the content contained within the VPC OR the Persona OR Empathy map.
4. Lastly, you are to provide a completed business model canvas (with between 3-5 dot points for each pillar). A brief narrative is to be provided that provides a synopsis of the nine pillars of the BMC.
5. Introduction
   1. Key Trend-Identify and describe the key trendand why it isimportant to you and potential stakeholders. Where appropriate use figures and tables to illustrate key trends. Next, evaluate anddescribe whoit impacts.
   2. Industry (or Industries if relevant)-Outline the industry where the key trend is occurring and provide industry statistics and data to highlight and justify the trend. Where appropriate use figures and tables to illustrate data on the industry.
   3. Problem or opportunity of consumers unmet needs-Highlight what the problem or opportunity is that has been found in the industry that is linked to the key trend you have identified.
6. Proposed Novel Solution
   1. Details of the novel solution-Explain what the solution is –provide images, draft drawings if appropriate. Highlight how the solution is linked to the key trend previously identified.
   2. Innovativeness of the solution-Explain how the solution is unique, novel, different.
   3. How the solution differs from competitors-Identify your competitors –existing or potential –and explain how your solution is unique, novel and/or different from your competitors.
7. Customers
   1. Identify who your customer(s) are -If you have more than one type of customer identify them here however choose only one to explain in detail.
   2. Using one of the following tools, provide a comprehensive narrative to explain your customer:
      1. Value Proposition Canvas OR
      2. Persona OR
      3. Empathy Map
8. Business Model Canvas
   1. Using the solution identified in section 2 above ‘Proposed Novel Solution’, sketch out the idea using the Business Model Canvas Template.
      1. Provide between 3-5 dot points on each of the nine pillars.
   2. Provide a brief narrative that provides a synopsis of the nine pillars.
9. Reference list and Appendices (if relevant).