MScIT student explores the path to making his idea a reality
Innovation Launchpad at 麻豆传媒 has become a breeding ground for innovative ideas and entrepreneurial ventures. Recently, we interviewed aspiring entrepreneur Md Khairul Anam, a Master of Science in IT Student, who participated in the Innovation Launchpad Cohort 2022-23 and worked on an idea for replacing paper receipts with digital ones, targeted towards local small businesses.
Khairul鈥檚 app addresses environmental concerns associated with paper receipts, including the use of chemical coatings that can be harmful to both humans and the environment. 鈥淢y solution aims to tackle these challenges by introducing a digital receipt system where customers would receive their receipts directly on their mobile apps,鈥� says Khairul.
Khairul developed a working app prototype and showcased it at a Innovation Launchpad 鈥減op-up shop鈥� event held at Tegler Student Centre. The presentation received positive feedback, and Khairul was invited in May 2023 to participate in the three-month-long in Calgary for student entrepreneurs, where he continued to refine his idea.
Garnering vital customer insights
鈥淭he customer discovery challenge was a crucial part of the challenge,鈥� says Khairul. 鈥淚t helped me understand the pain points and struggles faced by potential users. I completed Problem Validation Interviews of 25 strangers and I won the prize of 鈥楾he $750 Problem Validation Challenge鈥� with an additional $250 for being the first 10 to complete the interview.鈥�
Through interviews conducted at various locations, such as libraries, grocery stores, and railway stations, Khairul gathered insights about how people interact with paper receipts and their desire for a more efficient solution.
Although Khairul was at first nervous to ask strangers questions, he says the initial interviews proved promising, with many people expressing interest in the digital receipt concept. 鈥淪ome participants shared their frustrations with losing paper receipts or struggling to find them when needed, especially during tax season. These interactions helped me better understand the customers’ needs and expectations,鈥� Khairul explains.
A vision for a user-friendly app that is functionality and environmental responsible
Khairul鈥檚 app idea aligns with his vision of a world without paper receipts. 鈥淚 don鈥檛 like that if I鈥檓 just buying a single item, I get this long receipt,鈥� he says. While the details of the app’s functionality are still being developed, it could include a digital receipt repository, expense tracking, and even a shared grocery list for families.
鈥淏y catering to the needs of both consumers and retailers, I hope to create a solution that benefits all parties involved,鈥� 鈥� Khairul
Innovators, like Khairul, also face the challenge of finding the right balance between simplicity and functionality. 鈥淚 recognize that different age groups have varying levels of familiarity with technology, so the app needs to be user-friendly for both younger and older generations,鈥� he adds.
Khairul raved about his opportunity to be involved with 150 Startup. The program helped him deeply understand his target customers’ pain points before developing a solution. 鈥淏y focusing on customer needs and adapting my ideas based on feedback, I can greatly increase a product鈥檚 success,鈥� says Khairul.
CUE offers unique blend of IT masters and entrepreneurship
Studying at CUE is unique, in that you can study a Master of Science in IT and discover the business side of entrepreneurship through courses and programs, like Innovation Launchpad. 鈥淭he workshops, mentorship, and connections to the startup community provided invaluable support on my entrepreneurial journey,鈥� says Khairul.
Looking ahead, Khairul plans to continue working on his app alongside his studies. 鈥淥nce I complete my master’s degree, I intend to devote more time to the app and potentially seek support from incubator programs, such as the one offered by Concordia. By combining my technical expertise with entrepreneurial skills, I hope to bring my vision of a paperless receipt system to reality 鈥� There are many roads to achieving my goal, but the ultimate vision is there.鈥�
Embrace uncertainty and act fast
Khairul鈥檚 advice to future students is to: 鈥淪tep out of your comfort zone. As an international student [He鈥檚 from Bangladesh] with English as my second language, I had to overcome the obstacle of getting out there speaking about my product and questioning potential customers.”
“Students should take a chance, because you never know what you can achieve unless you do it,鈥� 鈥� Khairul
To be an effective entrepreneur Khairul says you have to 鈥渁ct fast.鈥� Ideas are highly perishable commodities in a competitive market. A good idea conceived today could be obsolete tomorrow if the market shifts or if a competitor implements it first. He emphasizes that the speed of execution is crucial to 鈥渧alidate assumptions and change course as necessary.鈥�
Khairul鈥檚 journey serves as an inspiration to aspiring innovators, demonstrating the potential for meaningful impact and the rewards of taking chances and stepping outside one’s comfort zone.