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Case Study

The Elevator – A CrowdFunding Platform

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About The Elevator

The Elevator, a brain child of Adrixus, is a platform aimed at providing a zone of intersection to conceptual creativity and practical merchandising. The underlying idea is to provide Students a platform to convert their ideas into a product/service. And at the same time offer an opportunity to Investors to identify bankable products, build connections and foster young talent.

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The Concept

The underlying idea is to provide

  • Students a platform to convert their ideas into a product or a service.
  • Investors to identify bankable products, build connections and foster young talent.

Challenges

For Students

  • Inadequate or practically no hand-holding to bring about concluding definitions of a project
  • Incomplete awareness of technology, product research, UX UI design and architecture etc.
  • Inability to decide technology to shape and scale the root concept of the project
  • Lack of access to inputs from domain experts and research based guideline
  • Myopic understanding of industry’s needs and expectations
  • No access to solid feedback before scaling the product to a commercial level
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Goal
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For Students

  • Give a breeding ground to numerous prospective products ideas germinated as final projects at universities
  • Establish a connecting link between the Industry and Education System
  • Nurture the entrepreneurial spirit in the bright gen-next minds
  • Providing students an exposure to think multi-dimensional and touch areas of legal implications, development strategies, implementation, validations and marketing for a new product development
  • Opening the doors to reach out to Investors and potential connections for future business opportunities
  • Encourage students to NOT re-invent the wheel - Help them identify an actual problem area (and a likely opportunity) in an otherwise stable and established system/project and provide efficient solution for it (rather than creating a whole new system)
  • Reach of Investors and potential connections for future business opportunities
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Solution

Students focused

  • A crowdfunding platform focused on creativity and merchandising
  • Pre-seed support for early stage innovations at university level
  • A team of industry and domain experts to mentor students to take their project to next level
  • Recognition for path-breaking concepts/projects - a prize and a certificate from Elevator’s committee members.
  • An opportunity to connect with potential investors

Investors focused

  • Access to a pool of new ideas and bankable product concepts
  • Tangible rewards or experiences in exchange for investments
  • Continuous integration with educational system and technologies with market trends
  • Business Networking
  • A chance to identify and foster fresh talent
  • Profitable percentage share in the ROI.
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