New businesses, new products and new technologies
Students in the second year of the two-year ScienceWorks program devise products and prepare a full business plan.
Here are some business ideas from past students:
- Brew Crafters (on-premises home-brewing)
- Hide-Ro Shell (waterproof backpack cover)
- Kinetic Keyboard (computer device-recharging technology)
- Quick Release Eyewear (one-touch lens replacement for cyclists)
- Custom Touch Greetings (customized greeting card kiosk)
For this project, a student team ideated a patent from International Specialty Products for a bio-adhesive. The team generated many product ideas, including breath fresheners, temporary tattoos, dentures, sutures and Stoma gaskets. A senior student then created a detailed business plan for manufacture and sale of the adhesive.
CATI acquired a food technology patent for instant dried yogurt through a donation from SC Johnson, and identified the former CEO of a food-related company to lead the management team. S-Corp was formed. A focus group market study was conducted by ScienceWorks junior students to qualify texture and flavor choices. The company is currently working with Whole Foods-Canada and a national ice cream distributor.
Alliance Enterprises — Benelact
CATI licensed Kraft Foods patented technology for removing fat from dairy products. The business plan was created by ScienceWorks junior students. This plan was the basis for licensing technology to an existing company in Racine, Wis., and aligning the company with the University of Wisconsin-Madison Food Sciences Department. The product launched in January 2008.
CATI key staff ideated patented technologies available to a spin-off group. A seniorScienceWorks student took on the task of a formal business plan for an all-electric compressor system. The student was able to contact and work with major auto manufacturers. The key concept was an advanced compressor for hybrid/electric vehicles, and a key product line for a new company.
UVRayz Sun Sensing Bracelet
A student team of juniors ideated on a patent from ISP for a UV-sensitive color-changing compound. The team developed a concept for a sun-sensing bracelet based on the “affinity bracelet” model. This is a medically viable product with a significant promotional element (hotels, theme parks, sports, cruises, etc.). The team linked molding, printing and distribution companies and is seeking a management team.