ME-273L Engineering Entrepreneurship Open Ended Lab Assignment

Department of Mechanical Engineering
Program: BSc Mechanical Engineering
Course: ME- 273L, Engineering Entrepreneurship
Assignment: Open Ended Lab
Session: 2024
Maximum Marks: 20
Year: 2026, Spring Semester
Time Allowed:
Submission Date: On the day of presentation
CEP Attribute
Contextual Definition
Attribute
Mapped
WP1: Depth of
Knowledge Required
Cannot be resolved without in-depth engineering knowledge at the level
of one or more of WK3, WK4, WK5, WK6 or WK8 which allows a
fundamentals-based, first principles analytical approach
WP2: Range of
conflicting
requirements
Involve wide-ranging and/or conflicting technical, non-technical issues
(such as ethical, sustainability, legal, political, economic, societal) and
consideration of future requirements
WP3: Depth of analysis
required
Have no obvious solution and require abstract thinking, creativity and
originality in analysis to formulate suitable models
WP4: Familiarity of
issues
Involve infrequently encountered issues or novel problems
WP5: Extent of
applicable codes
Address problems not encompassed by standards and codes of practice
for professional engineering
WP6: Extent of
stakeholder
involvement and
conflicting
requirements
Involve collaboration across engineering disciplines, other fields, and/or
diverse groups of stakeholders with widely varying needs
WP7: Interdependence
Address high-level problems with many components or sub-problems
that may require a systems approach
PLOs: PL10
An ability to communicate effectively, orally as well as in writing, on complex engineering
activities with the engineering community and with society on large scale, such as being able
to comprehend and write effective reports and design documentation, make effective
presentation, and give and receive clear instructions.
CLOs: CLO2
Develop and deliver coordinated presentations and marketing content, articulating quantitative
analytics with convincing flow and impact.
 You can do the assignments in group of maximum three students. The group
members must be from the same section
 If you cannot find a group you would have to submit the assignment
individually
 The title page of your report must have the name and registration number of
the group members
 The submission is in hard copy and you must bring your report on the day of
your presentation
 The business ideas discussed in the class as example cannot be used as your
project assignment

Problem Brief
Assume that your project group is a team of entrepreneurs who is passionate to build
a successful and financially sustainable startup engineering business. Your team is
supposed to achieve success in all the four stages of entrepreneurial activity as
discusses in the class, i.e., (1) conceive a legitimate business idea, (2) develop a
viable product or service based on the business idea, (3) develop a business based
on that product or service and (4) convert that business into a financially sustainable
business.
Keeping these four stages in mind; you are expected to develop an effective
business pitch presentation to a venture capitalist. The focus of the effort must
be on convincing the funder/funding agency to (a) clearly see the potential in your
business pitch based on the point of difference, (b) conveniently assess the industrial
sector your idea belongs to and whether is makes sense to enter that industrial sector
or not, (c) agree to the marketing strategy you propose and (d) agree to the fund the
startup amount you are asking through clear and concise communication.
Key Deliverables
a. Identify the direct and indirect competitors of your product or service and
conduct a competitive analysis on market accepted key performance
indicators. Reference the techniques and information you deploy to
perform the analysis. Decide on how to most effectively present it to an
critical audience.
b. Workout overall attractiveness of the industrial sector and establish the
viability of introducing a new product in that particular industry. Reference
the techniques you deploy to perform the analysis. Decide on how to most
effectively present it to an critical audience.
c. Based on the four Ps of marketing present a marketing strategy tailored for
your specific product, your point of difference and the makeup of your target
market. Produce an effective advertisement by deploying a standard
advertisement development technique (graphical or media). Reference the
techniques you deploy to develop advertisement

d. Workout the most suitable sequence of these elements of financial
information to coerce the funder/funding agency to sign the check:
 Workup of the total startup cash
 Sales Projection
 Cost projections
 Gross profit projections
 Breakeven point
NOTE: These deliverables (a-d) involve some independent study topics for
which you are welcome to seek general guidance. There is no teacher
recommended table of contents for your presentation. Based on your
feasibility analysis and business plan develop a table of content and flow of
information to ensure that you get funded.
Reporting format for report and presentation
NOTE:
 While doing items (a-d), ensure that all the relevant referencing of the
books, research papers and standard online forums is made available in
the report
 Also, the 20-25 slides presentation must conclude in 15 minutes
 Referencing should follow Chicago format available at
https://owl.purdue.edu/owl/research_and_citation/chicago_manual_17
th_edition/cmos_formatting_and_style_guide/chicago_manual_of_sty
le_17th_edition.html
References must be added in the slide the information is in

GRADING RUBRIC
Competitive
Analysis
Against
Direct and
Indirect
Competitors
(2 points)
Industry
Viability and
Profitability
Analysis
(2 points)
Marketing
Strategy and
Advertisement
(2 points)
Financial
(4 points)
Communication
skills
(10 points)
Worked out
correct direct
and indirect
competitors
from market
Industrial sector
and its size
accurately
researched
Five Ps analysis
conducted for
market strategy
Workup of
total startup
cash realistic
Power point
prowess
demonstrated in
text and graphics
Conducted
grid analysis
based on
market
accepted key
performance
indicators
Conducted five
force model
analysis to
establish potential
for profitability
Produced
effective
advertisement
based on distinct
point of
difference
Workup of
sales
projections
on solid
seeding
information
Careful
consideration
and well-
reviewed flow of
information is
evident
Workup of
COGS and
gross profit
projections is
correct
Effective and
convincing
delivery of
content as a team
to elicit funding
check
Workup of
accurate
breakeven
point