Week 13: Entrepreneurial Journey

It's been really interesting taking this class because I am also taking IEOR 186: Product Management. There's been some overlap but that class I'm building a mobile app whereas here we're using IP/patents which makes the mindset really different. The audience is different, the customers are different, the way we're trying to get buy in from investors is different.

The highlights is to be able to work with patents and get to this different mindset and really exercise those muscles and things we've learned so far. The lowlights would be that I was not the one who chose the patent, so it can get difficult to get buy in from the person who did in order to contribute more to the project. It was a bit difficult to work with this person because obviously they felt that they were the expert on the patent, but I think they found it difficult to let go of that ownership.

Something I learned from my other classes is that while you may be the originator of an idea, it's important to let some of that control go so that the best ideas from other individuals can help shape the final product. It's still something that our team needs to get a handle on for the final pitch- we'll see how it goes.

Week 12: Near the End

There is a lot that we need to get done. Our group is still particularly concerned with financials and making them accurate. We really wanted to get accurate numbers on manufacturing hydrogen fuel cells but it's really difficult to get into contact or find these prices. I think everything else we are settling well into: we are confident in our mission and how it will attract to people who are interested in sustainability. We're pretty confident in the technology and the good it will do, I just personally wish that there was enough good numbers to grab the attention of more business-minded people.

Week 11: Patent

1. Please explain the background, technology and idea behind your patent.

Our patent is for a chemical compound (powder) to be used in hydrogen fuel cells. The nanostructure allows for more hydrogen to be stored in a smaller space. The goal is to reduct the pressure in the fuel cell. Hydrogen fuel cells are more common in busses (large vehicles), but when scaled down to smaller cars, face problems of combustion because of the high pressure in the small space. This patent solves that issue for further development of hydrogen fuel cell cars. 

2. Please explain its claims.

The claims go over the actual nanostructure compound, with graphene ribbons and metal nanocrystals. The hydrogen gas would react with the nanocrystals on the graphene ribbons to provide a safer fuel source. Most of the claims go through the exact materials needed to make the compound.

3. Please analyze the key component of claim #1 or other claims of your patent.

The most important part is "wherein the nanostructured composite is capable of reversibly adsorbing one or more gases." The initial claim shows what the material is, but this part explains why this compound is important. "Absorbing one or more gases" will later show mainly hydrogen gas, which will reduce the pressure in the cell. 

4. What is the business potential and business markets of this patent?

Business potential is large, but still at a potential. It's difficult to gauge hydrogen car interest because it's done poorly with general safety in the past. Although our patent solves that issue, it is still difficult to measure interest based on these past numbers. 

5. Who are the potential customers in your market and why?

Potential customers for licensing are car manufacturers with hydrogen research labs in place already. For example, Toyota has actually released a hydrogen car in the $50k range, limited supply. They started introducing the technology in the late 90s to release the car within the last few years. I think they are invested enough to be interested in our patent.

6. What are the benefits/value of the patent for these customers?

This patent solves the main (giant) issue with producing more hydrogen fuel cell cars: safety. In all cars, safety is a huge factor, and as soon as a manufacturer takes a hit related to safety, even on just one model, it will affect their entire company and every product they have (aka a PR nightmare).