Capstone Project, Spring 2023
Overview
Collaborated with a four-member project team to plan a new business venture in response to a market need using the Business Model Canvas framework. Deliverables included four successive presentations, a final written report, and a comprehensive final presentation to a panel of MMB Industry Board advisors. Project activities included voice of customer outreach, market analysis, product ideation, and operational planning.
Proposed Venture
CitraHealth
Our team identified a significant market need in addressing citrus greening disease. It is estimated that up to 90% of all citrus trees in the state of Florida are infected with citrus greening, with a loss of over 50% of all citrus acreage since 2000 and yearly average of $1 Bn in damages due to the disease. Additionally, citrus growers incur an average revenue of -$400 per acre due to citrus greening. Because current methods to treat the disease have proven ineffective, our team proposed a concentrated microbial formulation utilizing a strain of Bacillus subtilis that has demonstrated efficacy of up to 90% in reducing citrus greening in infected trees. Called CitraHealth, this liquid formulation can be applied monthly using spray equipment that citrus growers already have on hand.
Video Pitch
Conclusions
Low Return on Investment
Limited competition in the space and minimal competitor products favor market entry of a microbial formulation designed to treat citrus greening. Further, over 50% of respondents in a voice of customer survey indicated they would prefer a biological product to treat citrus disease compared to synthetic and chemical-based products. However, high startup costs and a low return on investment suggest that this venture is more appropriate for a large firm with infrastructure and resources rather than a venture started from scratch.
