Project #3 – Idea Generation
Problem-First, AI-Supported Opportunity Identification
Project Overview
- Entrepreneurs typically do not start with solutions or products—they start with
problems worth solving. The goal of this project is to help you develop the ability to
identify meaningful problems, explore multiple solution approaches, and make
disciplined decisions about which opportunities are most promising.
In this project, you will:
- Identify real problems you personally experience, regularly observe, or have
meaningful exposure to
- Use AI thoughtfully throughout the assignment to expand your knowledge of
the problems and potential solutions
- Evaluate and prioritize opportunities using clear criteria
- Select the top 10 Problem/Solution pairs among the individual responses
- Challenge yourself to include at least 1 Business to Business opportunity
- Select and present two problem–solution pairs, each grounded in a solution
that could reasonably support a business
This project emphasizes quality of thinking, judgment, and reasoning, with
increasing weight placed on later stages of the process and the final presentation.
Step 1: Problem Discovery (Individual)
Each team member must independently identify 4-5 real problems. Problems may
be campus-related, industry-related, or broader in scope, but team members must
demonstrate proximity to the problem through personal experience, observation,
work, volunteering, family business exposure, or other credible connection. In other
words, why do these problems personally “speak” to you?
Step 2: Problem Framing
For each selected problem, briefly document in an exhibit:
- Who experiences the problem
- When and where it occurs
- Why it matters
- Why existing solutions fall short
Step 3: Narrow the List
Teams should review and discuss individual problem submissions from Steps 1 and
2 and consolidate into a Top 10.
Step 4: Solution Exploration
Teams should explore the solution space for each of the top 10 problems, generating
multiple types of solutions (products, services, platforms, systems, behavioral
nudges
Across all problems, teams should generate approximately 30+ solution ideas
(include as an exhibit)
Step 5: Screening and Selecting the Top 10 Problem–Solution Pairs
Teams will select their Top 10 problem–solution pairs and evaluate them using the
following criteria:
- Market Size
- Feasibility
- Innovativeness
- Demand
Teams must use the following ranking matrix:
Problem | Proposed Solution | Market Size (1–5) | Feasibility (1–5) | Innovativeness
(1–5) | Demand (1–5) | Total Score
Step 6: Final Selection – Top Problem–Solution Pairs (2)
Teams will select their two most important problems and identify the single best
solution for each.
For each problem–solution pair, explain:
- Why this problem is among the most important
- What the chosen solution is
- Who the customer and payer are
- A plausible path to monetization
- Key assumptions and risks
Step 7: Presentation & Reflection
Teams will prepare a 10-minute presentation summarizing their process and final
selections. Each team member must participate.
The team should also submit a brief reflection describing what they learned, how AI
influenced their thinking, and the key tradeoffs they encountered.
Grading & Point Breakdown (100 Points)
- Problem Identification & Proximity – 10 points
- Problem Framing & Exploration – 10 points
- Solution Exploration – 15 points
- Screening & Prioritization (Top 10) – 15 points
- Top Problem–Solution Pairs (Top 2) – 25 points
- Presentation Delivery & Quality – 25 points