Student innovation challenge
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Transcript of Student innovation challenge
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Student Innovation Challenge
Music & Entertainmentmeets Automotive
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The Student Teams
Students of two Innovation study programs compete against each other during the 24 Hours of Innovation.
VSBelgium U.S.
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Intro
IBM’s Global CEO Study 2006 as well as the Business 2010 report underlined that business model innovation creates significant competitive advantage over product and process innovation.
A lot of new business concepts have been developed particularly in the Music & Entertainment industry.
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Music & Entertainement ideas
• Radiohead: pay-what-you-want for their music• Madonna going from music record company (Warner Music) to event &
merchandising company (Live Nation) illustrating the evolution from selling a product to selling an experience
• From music to ring tone sales• Prince: giving away free CDs when fans buy tickets for Prince’s concerts• Posse.com: fans get paid for promoting bands’ concerts upfront• iTunes: Changing distribution channel, from CDs (with high production and
distribution costs) to online• Goodstorm MixTape: new widget that users can add to their personal websites,
blogs or facebook pages to promote independent music acts—and make a cut of the profit for selling downloads.
• Last.fm: create your own radio station (mass customization)• Entertainment mapping tool: Lastminute.com's nru—short for "near you"—is
designed to give users of the Android-powered T-Mobile G1 a continuously updated view of things to do around them, from bars and restaurants to cinemas and cafes.
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Music & Entertainment ideas
• People's Music Store: music fans can set up their own online storefronts for recommending and selling their favourite music. Unlike goodstorm, people don’t get paid money but earn free MP3 downloads.
• Sellaband: bands get funded to record an album when having gathered a certain number of fans on the site
• Zigabid: buying tickets for concerts, sports events and theatre is typically a matter of paying the set price for a given seat and show. Aiming to put some control back in consumers' hands, however, Zigabid makes ticket prices negotiable.
• Mucony offers video music lessons taught by some of the world’s finest classical and jazz artists.
• Music tracks that are publicly shared for music fans to cut, paste, remix, improve (similar to open source software)
• Upload Cinema is a film club that selects the best YouTube films and brings them on the full-sized screen at the De Uitkijk theater in Amsterdam. Bringing online to offline.
• Travel + music: By entering starting point and destination of your trip, Amplified Journeys puts together a set of detailed driving directions with an accompanying playlist including tracks inspired by landmarks and artists from points along the way.
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Challenge summary
Cross-fertilise the Automotive industry with 3 new business concepts, based on new concepts from pioneering industries like the Music & Entertainment industry.
Submission deadline: 6.00 am CET on May 16 or 9.00 pm PST on May 15
Output: Visuals and explanation. Good luck!