Team:Macquarie Australia/Entrepreneurship
Overview
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We are living in a world of extremes. Temperatures are soaring. Sea levels are rising. Population growth is exploding. Non-renewable resources are dwindling. Our planet is facing the biggest environmental crisis in known history and what’s worse, we are running out of time to turn it around.
“Climate change is intrinsically linked to public health, food and water security, migration, peace, and security. It is a moral issue. It is an issue of social justice, human rights and fundamental ethics. We have a profound responsibility to the fragile web of life on this Earth, and to this generation and those that will follow.” – United Nations Secretary-General Ban Ki-moon
The transport industry is one of the biggest contributors to greenhouse gas emissions, responsible for a whopping 27% of emissions in 2015 in the US. Attempts to convert to renewable fuel sources have shown promise with solar and electric vehicles entering the market. However, levels of customer adoption have remained disappointingly low due to the high cost, poor efficiency and inconvenience of most alternative fuels. Governments have taken little action to build the supporting infrastructure necessary, leaving consumers with little choice but to resort to traditional fuel. Some that claim to be ‘green’ are not actually green at all, either – most methods of hydrogen production, for example, require fossil fuels!
WHAT’S THE SOLUTION?
A zero-emission energy source, produced with zero fossil fuels. No, this isn’t some pipe dream or wishful thinking. It’s H2GEM.
H2ydrogem’s revolutionary at-home refuelling station uses no harmful chemicals or pollutants, just modified e-coli and glucose. That’s it. No fossil fuels, fancy or expensive technology required. Pure hydrogen fuel produced on demand in your own garage, 24/7. As Australians make the switch to hydrogen-powered vehicles over the next two decades, H2GEM will be there to meet the demand for convenient, sustainable hydrogen fuel. We are putting the power to change the world back into the consumers’ hands, literally.
H2YDROGEM's MISSION
1. Customer Discovery – Has the team interviewed a representative number of potential customers for the technology and clearly communicated what they learned?
It’s an undeniable, yet oft overlooked truth that no business venture can be successful without customers. As such, our team conducted extensive market research when designing our prototype to discover exactly who our target customers are and what they want, tailoring our offering to meet their needs.
Our first step in this process involved conducting an online survey that was completed by over 150 respondents across multiple age brackets and geographic locations within Australia. This survey was designed to give us insight into our potential consumers’ perceptions around renewable energy and what sort of product might appeal to the Australian market. A statistical analysis of the results was performed and yielded some extremely useful information.
The second stage of our market research involved conducting face-to-face interviews with a sample of 40 different individuals chosen deliberately as a representative cross section cross-section of our target market. The questions asked were specifically constructed to guide our design of the refuelling station (what features to include/exclude) as well as our pricing, promotion and distribution strategies.
