Design Engineering
Showcase 2023

REHAU New Ventures

Tags
Entrepreneurship
Innovation
Venture Building

Project Details

Student
Maximilian Matthews
Team
Better Living
Role
Junior Innovation Architect
Sector
Consulting & Entrepreneurship
Links
LinkedIn

New Ventures is the corporate venture builder of the REHAU Group (a global developer and manufacturer of polymer-based products), whose primary business is to identify solutions to customer problems, and build these into independent startups/ventures, which are provided with seed funding. I worked in the innovation lab which identifies customer pains, creates ideas for new ventures, and fully validates the venture ideas. I worked on developing new ideas and proving a problem-solution-fit via research on one venture concept.

Max

Role and Contributions

As a Junior Innovation Architect, I worked within the Innovation Lab which is responsible for the generation of new start-up ideas and the development of early-stage venture projects. More specifically, I supported the team in tasks along the innovation process, including: researching sub-sectors to identify customer problems, helping organise “ideation” workshops, as well as worked on early stage projects completing tasks like market sizing, business model development, user research, and hypothesis testing.

Some DE skills I used on my placement include: development of pricing models and business models (I used the knowledge of business model canvases from Innovation & Entrepreneurship); hypothesis testing for a venture idea (covered in I&E); user interviews (skills learnt in HCDE); idea generation techniques (leant in Intro to DE, HCDE); and broadly, teamworking skills from all the group projects in DE.

A key achievement included working on a problem-solution-fit phase project in the private care sector. I worked on the business model plus quantitative and qualitive research to prove key problem and solution hypotheses. These were proven, validating the idea, and pitching the project to the management board was a success, resulting in it progressing to the next phase. This meant the project was closer to launching as a full startup.


Max