Hello all,
This week's post will just be a short one, detailing how our team is doing and what stage we are at in this project. We have now firsthand learned the lesson that you must always be ready to embrace change as an entrepreneur - in the last week, we made the big decision to step away from our selected project, CRISPR, and begin looking for other options. Ultimately we decided that, the technical struggles of working with the CRISPR professors and the patent complications, coupled with the fact that it isn't ready to put out a business-facing product without many years of R&D and massive sums of funding, together offer enough justification to turn to a different project. Our new goal is to select a patent that is potentially less technical and more ready to be converted into a product that can be built and sold now. We are heavily considering the Earthquake/Natural Disasters Early Warning system, as it is something that would be cheap, feasible, and very very easy to market. But we are leaving this week open for more exploration and discussion, and we hope to select a patent soon. Last weekend was a nightmare for all of us, work-wise, but this weekend we plan to meet for a full day and really hammer out a large part of the project - deciding our roles, creating a more detailed value proposition, and extracting conclusions from customer surveys. We are definitely in a stage of flux at the moment, but I'm excited to see where we go from here.
