Fifth grade students spent the last month developing ideas for new inventions. They were inspired by a visit from Perelman parents, JD Albert, co-inventor of “E Ink” (used in Kindle book readers) who shared his experience in the field of engineering; Marc Singer, a venture capitalist whose company invests in new ideas; and Todd Lieberman, an inventor.
Mr. Singer asked students to consider the following three “big” questions to help them prepare for the Shark Tank-like competition:
1)What is the project’s value proposition? (What does it do?)
2)What is the customer benefit? (How does it improve the person’s life?)
3)What is the target market? (How big is it and how can you reach those individuals?)
Students spent several weeks in our Landau Makerspace, developing their ideas, encountering challenges, reimagining their creations, suffering through failures and celebrating successes.
Students then packed up their prototypes and traveled to Osage Partners to pitch their inventions to Mr. Singer and Mr. Lieberman. They learned about the importance of an idea, about the number of pitches inventors often have to make, and about the type of pitches and partnerships that form the relationship for the first round of capital.
This project provided students with an introduction to business development; bringing ideas to fruition, developing a pitch, forming partnerships, and improving communication and presentation skills.