CIP Projects Fall 2024

Sponsor Introduction:

TD Bank, N.A., commonly known as TD Bank, is a leading American national bank and the United States subsidiary of the multinational Toronto-Dominion Bank, based in Toronto, Canada. It operates primarily along the East Coast, with a significant presence in states such as New York, New Jersey, and Florida. Known for its extensive retail banking network, TD Bank offers a wide range of financial services, including personal and business banking, wealth management, and investment services. 

Project Description: 

WHY:  The traditional model of general philanthropy is evolving, with a growing preference for targeted giving and direct investment in specific causes. This shift is observed among billionaires and is likely to extend to everyday investors. TD’s large customer base and workforce are eager to contribute their time and money but often struggle to find relevant organizations or local causes that align with their unique interests. The lack of a straightforward discovery process leads to inaction, despite a desire to make a positive impact. 

WHAT: A digital platform concept that offers an ETF-like experience for social causes, enabling users to select from a curated mix of volunteer opportunities and donation options tailored to their personality and giving preferences. 

HOW: Potential solutions might include the following: 

• User-Friendly Platform: Develop an accessible online interface that simplifies the process of discovering and engaging with social causes. 

• Cause Discovery and Matching: Utilize algorithms and tools to match users with local organizations and causes that align with their interests and values. 

• Impact Tracking: Implement a system to track and report the social impact of donations and volunteer activities, providing users with a clear understanding of their contributions. 

• Monetization Strategy: Explore indirect monetization avenues for TD, ensuring that the focus remains on facilitating meaningful gift-giving rather than profiting directly from donations. 

• Community Engagement: Create a platform for users to share experiences and collaborate on social impact initiatives, fostering a supportive community. 

WHO: 

• TD Customers: Individuals seeking to make a positive impact by donating their time and money to causes they care about. 

• TD Employees: Staff members interested in contributing to social causes and engaging in corporate social responsibility initiatives. 

•  Local Organizations and Nonprofits: Beneficiaries of the platform, gaining access to volunteers and donors aligned with their mission. 

•  TD Bank: The platform’s developer and facilitator, ensuring alignment with corporate values and community engagement goals. 

Sponsor Introduction:

Ricoh 3D for Healthcare transforms surgical planning with patient-specific, 3D printed models crafted directly from CT and MRI data. These precision-engineered anatomic models, personalized to the intricacies of each patient and procedure, have been demonstrated to significantly enhance surgical outcomes, particularly in complex procedures. This patient-centered innovation is comprehensively detailed in the Appropriateness Guidelines created by the 3D Printing Special Interest Group (SIG) of the Radiological Society of North America (RSNA) in 2018. 

Project Description: 

WHY:  During this project, the student team will: 

• Identify Surgical Procedures: Use the RSNA Applicability Guidelines to list surgical procedures suitable for anatomic modeling. 
• Detailed Research: Use web and AI tools for insights into surgical procedures grouped in the RSNA guidelines. 
• Document Use Cases: Record anatomic modeling applications for each surgery type, such as operating room time savings, precision, and improved outcomes. 
• Identify Procedure Codes: Utilize web tools to find surgical codes for each procedure. 
• Search Healthcare Database: Employ procedure codes to search the Definitive Healthcare database for surgical data. 
• Quantify Procedure Occurrences: Record annual US occurrences of each procedure. 
• Identify Top Surgeons: List the top 20 surgeons and hospitals for each procedure, including contact details and surgical volume. 
• Market Size and Segmentation: Analyze data to determine market size and key segments. 
• Procedure Spending Analysis: Research and calculate costs for each procedure or segment for financial projections and customer ROI. 

WHAT:

• Comprehensive documentation of surgical procedures and their use cases for anatomic modeling. 
• Data-driven insights into the frequency and distribution of surgical procedures in the US. 
• Identification of key hospitals and surgeons for targeted sales efforts.
• Detailed market size analysis and segmentation for strategic planning. 
• Financial analysis of procedure spending to support value proposition. 

HOW: Provided by Ricoh: 

• Access to the Definitive Healthcare database and Definitive Data Analyst hours. 

• Relevant RSNA 3D Special Interest Group Studies. 

• Periodic check-ins and support from Ricoh 3D for Healthcare team. 

Additional resources that may be helpful: 

• Tools and sources for healthcare-related research. 

• Data analytics software and tools. 

• Financial analysis resources, software, and tools to support market projections. 

WHO:  Students interested in healthcare management and 3D printing technology

Sponsor Introduction:

Tigo is a leading telecommunications company in Latin America, offering a range of innovative services and advanced connectivity solutions, positioning itself as a strategic ally in the digital transformation of companies in the region. Tigo stands out for its ability to offer comprehensive and personalized solutions adapting to the needs and challenges of a constantly evolving market.

 Project Description: 

WHY:   

• Identify the purchasing behavior of customers in the focus countries. 

• Determine the seasonality of quotation and purchase for each type of customer. 

• Analyze demand by product type. 

• Develop a differentiated pricing strategy by type of customer. 

WHAT:  

• Detailed report with analysis of purchasing behavior, seasonality and demand. 

• Pricing strategies adapted to each customer segment and focus country. 

• Presentation with key findings and strategic recommendations by Direct Customer and by End Customer. 

• Compilation of all current sales and quotation data.  

• Cleaning and preparation of data for analysis.  

• Statistical analysis of purchasing behavior by country, product and type of customer.  

• Study of seasonality in sales and quotes, by country, direct customer and end customer.  

• Segmentation of customers according to their purchasing behavior and needs.  

• Creation of demand forecasting models by product.  

• Development of dynamic pricing strategies based on data analysis and price predictability.  

• Automation of sales reports and purchasing behavior.  

• A/B testing to validate proposed pricing strategies.  

• Preparation of a final presentation with recommendations and findings for stakeholders.  

HOW:  

• Data analysis software (e.g., Power BI, others) to process and visualize the data.  

• CRM for detailed tracking of customer interactions and behaviors. (Current system where the entire Pre-Sale, Sales and Post-Sales flow is recorded)  

WHO:

Students interested in telecommunications and LATAM

Sponsor Introduction:

Willis Towers Watson plc, branded as WTW and stylized in its logo as wtw, is a British-American multinational company providing insurance services. The company was founded in 2016, following a merger of the Willis Group and Towers Watson. WTW operates in more than 140 countries and has a workforce of more than 40,000 employees. 

Project Description: 

WHY:  With the rise of “As a service” business models in the corporate world, companies are fundamentally changing how they do business with customers, clients, and suppliers.  The rise of the service industry has resulted in organizations now becoming value facilitators instead of value producers.  Start-ups and the larger VC ecosystems act as important incubators in rolling out new business models, challenging existing paradigms, and A/B testing for new enterprises.  As nearly every single industry will be challenged, status quos will be disrupted and supplanted by those the market deems superior in delivering products and services.  This project aims to explore start-ups, VCs, and whether/how these factors will augment or replace certain industries and products.  The motivation stems from the need to understand how start-ups can contribute to new businesses and ways of doing business – and how companies can better utilize new technologies and ways of working to gain a competitive edge.   As companies stay private longer, where the median age of a company in 2021 was 11 years, and where the average lifespan of an S&P 500 company has been declining over time, from 61 years in 1958 to just over 21 years in 2020,  delving into the intricacies of start-ups and VCs will play a crucial role in helping to identify high growth potential companies. 

WHAT: This project will delve into various aspects of start-ups and VC culture and their potential for fostering innovation and sustainability. Key focus areas include: 

• How start-ups are structured and in what ways they operate. 

• Examining whether there is an ideal operating model and what structures contribute to positive growth patterns. 

• Determining what industries to target. 

• Extrapolating methodologies in order to better understand whether a particular service offering or company is truly innovative. 

• Examining the relationship between funding and talent, and how to positively reconcile differences between the two when they arise. 

HOW:

• Comparative Analysis: Looking at past successful companies and what conditions led them to be disruptive and innovative in their field. 
• Examining different ways of start-ups and their approaches to profitability, sustainability, and innovation.   

• Particularly important is to look at important milestones such as the 2009 financial crisis and COVID-19 pandemic to see in what ways start-ups changed.  

• Interviews and Surveys: Engaging with experts in VCs, start-ups, and academia. 

• Cross-Cultural and Literature Review: Analyzing existing research on the different forms of start-ups throughout the world, e.g. Clayton Christensen’s The Innovator’s Dilemma. 

• Case Study Analysis: In-depth examination of selected industries and companies, for example Netflix and Stripe.

WHO: Ideal candidates for this project are professionals with a blend of expertise in start-ups, VCs, emerging technologies, and business model studies.  

Sponsor Introduction:

The Raymond Corporation, a member of the Toyota Industries family of companies, is a leading global provider of best-in-class material handling products and intelligent intralogistics solutions that optimize your entire operation, deliver actionable insights, and transform operations through automation.  

Project Description: 

WHY: 

The logistics industry faces high employee turnover rates (46.1%) and the operational limitations of current Autonomous Mobile Robots (AMRs). AMRs are 4-5 times more expensive than manual forklifts and struggle in complex warehouse environments. RetroLifts addresses both cost and operational inefficiencies by retrofitting existing manual forklifts to achieve autonomous teleoperation capabilities, making automation affordable and scalable for brownfield deployments. 

WHAT:

RetroLifts provides an infrastructure-based computer vision system that guides fleets of forklifts through end-to-end cross dock operations. Using a combination of Birds-Eye-View (BEV) for global navigation and low-cost First-Person-View (FPV) cameras for local planning, RetroLifts transforms manual forklifts into autonomous teleoperated systems. 

HOW:

The system offloads perception, planning, and control tasks from forklifts to cameras and lidars installed on facility walls and ceilings. This reduces deployment costs by 2-3 times compared to AMRs. The project will be executed in two phases: Phase I will involve simulation studies to validate the concept, and Phase II will focus on prototyping and validating a retrofit autonomy kit on a Raymond forklift. 

Validate Revenue Model: 

• Initial Retrofit Kit Sales: Selling retrofit kits for existing forklifts, including on-board computers, communication systems, and sensors. 

• Subscription Services: Offering ongoing software updates, maintenance, and support through a subscription-based model. 

• Integration Services: Providing customized integration with Warehouse Management Systems (WMS) and other logistics software. 

Deliverables: 

How can Raymond revolutionize warehouse and factory automation while maintaining low costs and providing the flexibility of both autonomous and manual teleoperation of forklifts? How can Raymond use this technology to provide more cost-effective solutions for warehouse material transport? What are the impacts to operational efficiency, reduced labor cost, and significant competitive advantage? 

Sponsor Introduction: 

Project Description: 

WHY: The project aims to revolutionize dental care by integrating advanced robotics and nanotechnology to improve patient outcomes, reduce costs, and streamline dental procedures. This initiative responds to the growing need for precision and efficiency in dental care, addressing common challenges faced by dental professionals and patients alike.  

WHAT: The project will focus on the development and commercialization of a robotic dental device designed for use in dental offices, nursing homes, and by everyday consumers. This device will offer functionalities such as plaque removal, cavity and gum disease prevention, pathogen detection, pH measurement, and screening for oral cancer. The project includes conducting interviews with dental professionals and everyday consumers to refine the device’s features and ensure its market fit.  

HOW: The project will be executed in phases, starting with customer interviews to gather insights on patient behaviors, technology adoption, and the perceived value of dental innovations. The team will then prioritize use cases based on these insights, focusing on developing a device that meets the needs of both dental professionals and consumers. The final phase will involve product testing, refinement, and a go-to-market strategy, leveraging partnerships with dental offices, nursing homes, and possibly insurance companies. 

WHO: The team will work closely with dental professionals, everyday consumers, and industry stakeholders to ensure the successful development and adoption of the new dental care device.