Tell us about the social impact of your innovation. Please include both numbers and stories as evidence of this impact
Our innovation is able to reduce the number of elderly falling down and injuring themselves because they are not able to use the walking stick and the umbrella at the same time. This allows the elderly to better support themselves and reduce their dependence on their family members and cause unneccessary worries and troubles.
Research has shown that 17% of the falls are due to balance disorder. Thus, our innovation is aimed at solving this social problem.
Research has also shown that falls are the leading cause of death due to injury among the elderly. 87% of all fractures in the elderly are due to falls. Our innovation is also aimed at solving this problem by reducing the chances of them falling.
A social impact of our innovation is also to increase the confidence of the elderly and encourage them to go out. With this innovation, the elderly will not have to worry about whether to use the walking stick or the umbrella as they are able to use this innovation which has both functions of the umbrella and the walking stick.
Problem: Describe the primary problem(s) that your innovation is addressing
Elderly are falling more frequently due to balance disorders. They are also falling ill due to poor immune system if they are exposed to the rain or strong glare of the sun. Falls are the leading cause of death due to injury among the elderly. Most of the fractures in the elderly are due to falls. This is because elderly have weak bones as they grow older and older.
Our innovation aimed to solve these problems that the elderly are facing.
Actions: Describe the steps that you are taking to make your innovation a success. Include a description of the business model. What might prevent that success?
First of all, we can do a survey to find out about the public's view, especially the elderly, towards this innovation. We can make a prototype of this innovation and let them try before getting their personal comments on it. In this way, the opinions they give will be out of personal experience and not just based on their imagination. It will be more accurate this way. We can also get some suggestions from them to make our innovation a better one and is more widely accepted by the people.
Thereafter, we will create a prototype of the better improved innovation and promote our ideas to relevant organisations. We can approach a few organisations to promote our idea.
If our idea is accepted by one of the organisations, they can help to fund us to mass produce this inoovation for sale in the market.
One thing that will prevent our success is that no one organisation is willing to accept our idea and help us in mass producing it. If this happens, we can use our own money to make one hundred of it first and sell it. If the sale is good, then we can use the revenue earned and other fundings to make more of it for sale. Over some time, some organisations will take notice of the sale of this product if it becomes popular after some time. They may be willing to help us with the cost of mass producing it.
Results: Describe the expected results of these actions over the next three years. Please address each year separately, if possible
In the first year, we will be focusing on the research for materials used to make this innovation. We will also be focusing on doing surveys and making prototypes of our innovation and actively promoting our innovation to the public. Feedbacks of our innovation will be collected and we will work on how to make our innovation a better and more user-friendly one.
In the second year, we will try to promote our better improved innovation to the relevant organisations and look for sponsors to help us to mass produce this product.
In the third year, we will aim to actively promote our innovation through advertisement and in places like community centres and elderly corner where the old people usually gather. By promoting our innovation, we can increase our sales thus achieving breakeven soon.
If your innovation seeks to impact public policy, how?