Key Concepts

Prompt Engineering

●​ Prompt engineering is the art and science of crafting effective inputs for AI
models.
●​ It involves designing clear, specific instructions to guide AI responses.
●​ Techniques like RACEF (Role-Action-Context-Example-Format) framework
& CoT (Chain-of-Thought) can be used to get better responses from AI
models.

Opportunity Statement

●​ It is a clear and concise statement that defines the problem we want to

solve.
●​ "How Might We" (HMW) statements are small but mighty questions that
allow us to reframe our insights into opportunity areas and innovate on
problems found during user research.

Market Research

The purpose of market research is to offer valuable insight into the preferences
and behaviors of your target audience and anticipate shifts in market trends and
the competitive landscape.

●​ Revenue Opportunity
○​ TAM (Total Addressable Market) - The maximum potential demand of
a specific market
○​ SAM (Serviceable Addressable Market) - The size of the TAM you can
reasonably target as you build your audience
 ○​ SOM (Serviceable Obtainable Market) - The size of the SAM you can
potentially convert
●​ Competitive Analysis: A strategic and systematic approach to identifying
competitors within your industry and analyzing their strengths and
weaknesses

User Personas

●​ Fictional representations of ideal customers based on real data

●​ Detailed profiles that capture user behaviors, needs, & motivations
●​ Tools to visualize and understand target audience segments

Branding

●​ A brand is the identity and story of a company

●​ Branding is the process of creating a brand identity
●​ It delivers materials that support the brand

Minimum Viable Product (MVP)

Minimum Viable Product (MVP) is the simplest version of your idea that solves
the core problem or provides a key benefit

Customer-Driven Development (CDD)

●​ Approach to creating products where the needs, preferences, and feedback

of customers are at the core of the development process
●​ Instead of relying on internal ideas or industry trends, it prioritizes the
voice of the customer (VoC) throughout the entire product lifecycle

Storytelling
 ●​ Stories provide a framework to convey messages, solve problems & create
experiences
●​ They make abstract concepts tangible & relatable
●​ Just telling a story isn’t enough — you want one that resonates and grabs
attention
●​ Frameworks:
○​ The Hero’s Journey
○​ STAR
○​ Pixar Pitch
○​ Rags-to-Riches
○​ The Big Idea
○​ Story Cycle™

Storyboarding

Storyboarding is a visual planning tool that sequences your product ideas into
a narrative, helping you pitch them through compelling stories

Elevator Pitch

An Elevator Pitch is a brief, persuasive speech that summarizes your idea,

product, or company in the time it takes to ride an elevator—typically 30-60

seconds

Sponsorship

●​ Sponsor helps you get the resources your project needs to become real
●​ Today, sponsorship goes beyond the traditional definition of “money”

AI Tools
 Tool Link

ChatGPT ChatGPT

Microsoft Copilot Microsoft Copilot

UserPersona.Dev UserPersona.Dev

Namelix Namelix

Sologo AI Sologo AI

SmasherOfOdds MVP
SmasherOfOdds MVP
Machine Machine

Wegic AI Wegic AI
 FormShare FormShare

Microsoft Designer Microsoft Designer

Gamma AI Gamma AI

Clipchamp Clipchamp

Prompt Templates

Sample prompt on Chatgpt for knowing the growth.

Simple Prompt Example

Recommend an itinerary for a fabulous weekend for a family in the city of Udaipur
in India.

Prompt as a guide for knowing more about the subject.

RACEF Prompt Example

Act as if you are the world’s best local tour guide for the city of Udaipur.​
Design for me a 3-day itinerary for a wonderful experience. We are a family
who’ve been to Udaipur a few times before and have visited all the top sights.​
We’re looking to experience the true local Udaipur and hidden gems. We are avid
walkers and would love recommendations for walks and hikes in Udaipur.​
We love visiting quirky museums and sights. Please include recommendations
for authentic, affordable food and drink experiences for breakfast, coffee, lunch,
dinner, and non-alcoholic drinks.​
Summarize the output in a table by day and segment each day by morning,
afternoon, evening, and night. Include public transportation options for each
recommendation.

Do this on Chatgpt for making the work more innovative and as a coach. Chatgpt
on web - Customize- write this prompt.

Setting Up Your Innovation Agent

Act as if you are the best innovation practitioner and coach in the world.
I want you to be my innovation coach and assistant.
Responses should be creative, push the boundaries, challenge the status quo
and seek to reimagine existing products and services.
I will provide the opportunity we wish to tackle so do not ask clarifying questions
or suggest possible next steps.
Optimize response for brevity.

Now the gpt will be acting as mentioned above, now we can write the prompt
given below and mention the opportunity statement or problem statement in the
section [YOUR OPPORTUNITY STATEMENT HERE], this will give you the entire
information about the PS.

Enhancing Your Opportunity Statement

I want you to enhance and refine the opportunity statement below using the
following framing and criteria:
An opportunity statement requires a clear, visionary, and actionable directive. An
effective statement should ignite passion, drive focus, and communicate a
future-oriented vision.
The attributes of a good opportunity statement are:
 ●​ Visionary: The statement should paint a compelling picture of the future
and describe what success looks like. It should challenge the status quo
and inspire a bold new direction.
●​ Customer-Centric: It must emphasize creating value for the customer,
understanding their needs, and how the transformation will enhance their
experience.
●​ Outcome-Focused: Instead of merely describing actions (like "implement
AI"), it should describe desired outcomes ("become the industry
benchmark for AI-driven personalized experiences").
●​ Measurable: While aspirational, it should hint at something that can be
tracked and measured. This allows the team to understand progress and
adjust strategies as needed.
●​ Urgency: Especially in a rapidly changing digital environment, the
statement should create a sense of urgency, emphasizing the importance
of acting now.

Enhance the draft opportunity statement below. Give me three completely

different variations:
[YOUR OPPORTUNITY STATEMENT HERE]

We’ll get the 3 - 5 variations on our PS. By this we can generate unique product
ideas to tackle the PS/OS. [Final Opportunity Statement] - write the OS we select

from the variations above. Copy any 1 of the variation and paste it into “[final

opportunity statement]”

From Opportunity to List of Ideas

Generate 5 unique product ideas to tackle the opportunity statement:

“[final opportunity statement]”

Offer up a range of ideas that cover the spectrum from outrageous to practical.
The ideas should challenge the status quo and seek to disrupt the market. The
ideas should excite and energize, be written from an ambitious abundance
perspective, have huge potential, and be brief and to the point. Highlight how the
idea disrupts the current status quo.

We’ll get 5 statements in such a way that will act as my final PS. Now to choose 1
out of them, we’ll use the below prompt in chatgpt.

From Lists of Ideas to Final Idea

I want you to rate and rank the 5 ideas using the following evaluation rubric:

●​ Desirability: Does the idea show a deep understanding of the customer’s

needs, wants, and limitations?
●​ Opportunity Relevance: Does the idea address a significant problem or
challenge faced by the persona?
●​ Innovation Level: Is the idea new and creative, or is it a replication of
existing solutions?
●​ Feasibility: Can the product or service be built? Can the idea be quickly
turned into a prototype for testing?
●​ Market Opportunity: Is there a market for this idea? What is the
estimated TAM, and are there potential customers willing to pay for this
idea?

Apply these criteria to the 5 ideas, provide a sound rationale for scoring each
idea on the various criteria, and score each idea on each criterion on a scale of 0
to 5, where 0 is the lowest and 5 is the highest.
Provide your output in a table with the following columns: Idea, [{Criterion}
Reasoning], [{Criterion} Score], Total Score (where {Criterion} will be replaced
with each of the actual criteria mentioned in the rubric).
We’ll get a table in which all the rubrics will be mentioned to select the desired
unique idea for our product. Now we’ll shift to Microsoft copilot as our research
agent. Paste the below prompt in the copilot to let it act as our research agent.

Paste the below code in Chatgpt to get some names of the product we can use as
a brand. This will give us keywords and taglines.

Generating Taglines & Keywords for Branding

For the idea of a [product idea name], generate the following:

●​ Keywords: A comma-separated list of 10 highly relevant keywords (both

common & long-tail) that will be useful in brainstorming the name of this
product using an AI brand name generator
●​ Taglines: 10 options for unique, memorable, short, attention-grabbing &
benefit-driven taglines that can be used for this product

Use Namelix and Sologo for the name of the brand and logo designing.

Setting Up Your Research Agent

Act as an expert market research analyst and user experience specialist.

Your role is to be my Research Agent, focusing on validating ideas through
comprehensive market analysis and user feedback.
Prioritize concise, data-driven insights, competitive landscape evaluation, and
user-centric methodologies.
Utilize available resources from the web for accurate and up-to-date information.
Ensure objectivity and critical evaluation in your responses.
Optimise response for brevity.
Now use the below prompt and paste the name of the selected idea from the
previous in [product name idea] and description in [product description idea] in
copilot

Setting Reference to the Selected Product Idea

The product idea we are going to focus on is [product idea name].

Moving forward, anytime you see me reference [product idea name], it is [the
product idea description].
Respond that you understand.

Paste the below prompt again in copilot and also paste the product name idea
from the previous one. This will give us the market revenue about the product in
the form of table.

Revenue Opportunity

Consider the idea of [product idea name].

Estimate the following market opportunities for this idea (in INR)

●​ TAM
●​ SAM
●​ SOM

Present your output in a table with columns for the rationale & estimated value of
the opportunities.
Estimate & compute the values with whatever information is available. Also,
provide any assumptions used during the computation.

Use the below prompt to get the competitive analysis in copilot kin tabular form.
Competitive Analysis

Consider the idea of [product idea name].

Identify the 3 biggest competitors of this product & describe the following in
detail:

●​ Strengths
●​ Weaknesses
●​ Differentiators
●​ Target Audience
●​ GTM Strategy
●​ Pricing

Present your output in a tabular format.

Now before going further, make the user personas about the real user needs by
using userpersonas.dev (ai tool), it will show us the real users and views about
our product for the MVP.

Now we’ll build the MVP of our product using idea, features, etc for our product.
Before that we would make user personas for our product and it will be like real
time users reviews. After user personas, we’ll use namelix and sologo for name
and logo. Then we’ll make mvp using the prompt below. Also we’ll use this
prompt to know the tech stack for our product and to build it in a very small
amount of time. Paste MVP form and features into the [.] and paste it in chatgpt.

What would it take to build the MVP (quickly)?

For the idea of a [product idea name], here are the details of the MVP to be
developed:
[Overall MVP Idea]
Features to be added:
[list of features to be added]
Act as a tech product leader, experienced in developing proofs-of-concept for
several top tech products, with a great technical understanding of various tools &
frameworks.
Consider the various nuanced requirements to develop the MVP & recommend
the best options to be used as the tech stack.
If possible, suggest ways to develop full or some parts of this MVP using
low-code or no-code tools.

Now make the form for the users like a survey form using form share, paste the
below in formshare ai.

Survey Form Description

A form to validate our assumptions about the potential customers of [product

name], a [product idea description].
Assumptions about the pain points & transformations of the audience:
[Audience & Transformation section from MVP Blueprint]
Assumptions about the helpful features of the product:
[Features to Add section from MVP Blueprint]

Paste the below in chatgpt for making the interview questions which can be
asked at the time of pitching.

User Interview Questions

Create a specific discovery interview script to validate our assumptions about the
potential customers of [product name], a [product idea description].
Assumptions about the pain points & transformations of the audience:
[Audience & Transformation section from MVP Blueprint]
Assumptions about the helpful features of the product:
[Features to Add section from MVP Blueprint]
Format the interview script as a table with relevant sections.
Now use the user personas which we made for for the below prompt for making it
simulating interview. Paste the bio from user personas in the characteristics of
the user section. By this we’ll get to know everything from user and interviewer
perspective.

Simulating Interviews

Act as a user who is [characteristics of the user].

Simulate this user’s response to the discovery interview script.
Format the output as a table.

Paste the below code in copilot for acquisition and knowing the business

Strategize Customer Acquisition

For the [product idea name], the following are some of the monetization
strategies:
[3 Monetization Strategies section from MVP Blueprint]
Act as a seasoned marketing professional & brainstorm about the following:

●​ Distribution Channels: What are the major distribution channels for this
product?
●​ Customer Acquisition Strategy: Suggest 5 best ways to acquire early &
late customers each. What will be the channels to reach these adopters?
What will be the incentives for these adopters?

Provide a detailed output in a tabular format.

Use the below code for making story board for our product and pitching. Copy
paste the prompt in chatgpt and type any no of panels and paste the simulated
response which we created above on chatgpt for interviews or storyboarding.
After that the prompt will give you the info about the text to image prompts to use
it in microsoft designer for story board. Form the story with around 6 panels and
this will give you the entire story and voice over for the pitch deck.

Creating a Storyboard Outline

To help understand the product and how it would work in reality - tell a
compelling story about the [the product idea] in the form of a storyboard.
Generate a [number of panels]-panel storyboard outline using the [storytelling
framework] framework to explain how this product will transform the user’s life.
Represent this storyboard outline in a tabular format with columns for:

●​ Panel number
●​ Stage of the storytelling framework
●​ Description of the visual
●​ Detailed prompt that I can use in a text-to-image generation tool to obtain
the visual - for microsoft designer
●​ Voice-over for the panel - for cliphamp

Use the below prompt in chatgpt for making the pitching ppt and to get the infor
to put in the ppt.

Preparing a Compelling Pitch Deck

For the product [product name], using all the previous context, create a specific
pitch deck outline at the expert level to secure sponsorship from potential
funders.
Be specific and detailed to the idea and be sure incorporate any relevant facts
and market data.
Format as a text document with a section for each slide title and the key bullet
points explaining each slide. Number each slide.
Include the following slides in a crisp YC-style pitch deck outline:
 ●​ Slide 1: Company Name
●​ Slide 2: Problem
●​ Slide 3: Solution
●​ Slide 4: Benefits
●​ Slide 5: Assumptions & Validation Roadmap
●​ Slide 6: What Makes Us Special
●​ Slide 7: Business Model
●​ Slide 8: Market
●​ Slide 9: Sponsorship Ask

Make the ppt using the Gamma Ai and story boarding using microsoft designer ai
tool.

Paste the below code in chatgpt to develop the text to speech part for the video.
Use the prompts to make the audio from text in clipchamp tool. This will make ur
mvp and it will be ready to show or pitch.

Generating Voice-Over Script

Act as a startup founder & experienced marketing professional, proficient in

scripting product pitch videos for top tech products.

Consider the outline generated for the pitch deck of [product name]. Generate a
crisp yet compelling script to walk through the deck, which will be converted into
a voice-over for the pitch video using text-to-speech technology.

Ensure that the overall voice-over is complete within [expected time].

Also, include the storyboard in an appropriate portion in between the slides by

considering the voice-over for the various panels generated previously.
Provide the script in a tabular format with the intended voice-over for each slide
mentioned clearly.

Now paste the below code in chatgpt for the pitch deck to prepare for the judging
and sponsorships.

Drafting an Elevator Pitch

Act as an experienced founder of a unicorn startup, proficient in drafting stellar

elevator pitches for highly innovative products.
Generate a short, captivating & highly persuasive elevator pitch for the product
[brand name], which is a [product description], to potential investors or venture
capitalists
Ensure that the pitch adheres to the following framework:

●​ Introduction: Greet, & introduce yourself along with your product

●​ Problem Statement as a Hook: Mention the unmet needs of users as a
strong opening statement or question to grab attention
●​ Solution & Value Proposition: A high-level description of what the
product does and why it’s valuable
●​ Unique Selling Point (USP): What makes this product stand out from the
rest of the competition?
●​ Call to Action: A clear request or next step, such as setting up a meeting
or a call

Ensure that the pitch can be completed within 30-60 seconds.

Use the below prompt for sponsorships and to pitch them in best way.

Creating an Ask for Sponsorship

As the founder of the product [brand name], which is a [product description],
consider all the previous context to formulate a convincing sponsorship request
that clearly outlines what you need from your sponsor at ‘shark tank’ and what
you could offer in return.
The request need not be only financial.

Sample Opportunity Statements

We’d highly encourage you to work on this project using an idea or problem that
you are passionate about, or connect with deeply - so that you can leverage your
creativity along with AI to come up with something unique.

However, for the uninitiated, here’s a list of some opportunity statements in

various domains using the HMW framework to get you started on this project…

Financial Services

●​ HMW enhance financial literacy among Gen Z in a way that's engaging and
relatable?
●​ HMW reduce fraud in digital transactions using AI while maintaining user
privacy?
●​ HMW simplify the process of securing loans for small businesses in
underserved communities?

Retail
 ●​ HMW personalize the shopping experience in a way that feels like a
personal stylist for every customer?
●​ HMW reduce the carbon footprint of online shopping without sacrificing
convenience?
●​ HMW create a seamless omnichannel experience that blends physical and
digital retail spaces?

Manufacturing

●​ HMW leverage IoT and AI to predict and prevent equipment failures before
they happen?
●​ HMW create a zero-waste manufacturing process using advanced materials
and AI?
●​ HMW enable real-time customization of products during the
manufacturing process to meet individual customer needs?

Healthcare

●​ HMW use AI to detect early signs of diseases in a way that's as simple as a

home test?
●​ HMW improve patient adherence to treatment plans through gamification
and AI-driven reminders?
●​ HMW reduce burnout among healthcare workers by automating
administrative tasks with AI?

Entertainment

●​ HMW create fully immersive virtual experiences that blur the line between
reality and digital worlds?
 ●​ HMW use AI to create personalized content recommendations that always
feel fresh and surprising?
●​ HMW empower indie creators to produce blockbuster-quality content on a
shoestring budget using AI?

Education

●​ HMW make lifelong learning accessible to everyone, regardless of location

or income?
●​ HMW use AI to create personalized learning paths that adapt in real-time to
student needs?
●​ HMW transform traditional textbooks into interactive, AI-driven learning
experiences?

Transportation

●​ HMW design smart cities that prioritize pedestrian safety and ease of
movement?
●​ HMW reduce traffic congestion in urban areas using AI and real-time data?
●​ HMW make sustainable, autonomous transportation available to everyone,
not just the wealthy?

Hospitality

●​ HMW create personalized travel experiences that adapt to travelers'

changing needs in real-time?
●​ HMW reduce the environmental impact of tourism while enhancing the
travel experience?
 ●​ HMW use AI to anticipate and fulfill guest needs before they even realize
they have them?

Energy

●​ HMW accelerate the transition to renewable energy in a way that's both

profitable and sustainable?
●​ HMW optimize energy consumption in homes and businesses using
AI-driven smart grids?
●​ HMW empower consumers to actively participate in energy generation and
conservation?

Social Impact

●​ HMW leverage AI to solve the global challenge of food insecurity?

●​ HMW create inclusive spaces in the digital world that cater to the needs of
all individuals?
●​ HMW harness the power of community to drive sustainable social change?

Project Submission

SUBMIT THE REPORT OF THE PROMPTS WHICH YOU GOT IN THE RESULTS​
SUBMIT THE DRIVE LINK IN WHICH YOU HAVE TO PASTE EVERYTHING INCLUDING THE
LOGO IMAGE, NAME OF THE BRAND, WEBSITE LINK, PPT, VIDEO etc