Applied Entrepreneurship 

Table of Contents

Business Idea.

Time/ Space Selection.

Reasoning.

Competitive Landscape.

Consumer Landscape.

Business Idea

The main business idea is to develop, manufacture and market a flexible range of robots. The product is for the electronics sector and for the applications of lightweight assembly. The main reason of selecting this is growing trend and need of industrial sector for automation of work. This product is characterized by a common purpose that is production flexibility and cost reduction for end users.

Time/ Space Selection

The geographical location selected is Melbourne, Australia. Today, robotics is creating their strong footings into various business sector in Australia such as administration, industrial automation, hotels, etc. America will be the second choice but the Australia is not pacing towards more economical progress so the better location to launch product is Australia.

Reasoning

Advancement in robotics is increasing day by day and evolved from the isolated machines that ate integrated with the environment. Australia could benefit greatly from robots in areas such as managing environmental threats, maintaining vital urban infrastructure, improving agricultural production in drought-affected areas, and transportation or law enforcement support. The job industry is under great influence of robotics (Karabegović 2013). As per the report by the Minister of Employment, Michaela Cash in 2016, gave warning to business transition by the introduction of automation robots and she claimed that about 44% of jobs in Australia are under the threat of robots. A Victorian dairy in Melbourne also switched to automation, eliminating all the humans who worked on the building (Turner 2019). The farmed livestock, which includes "absolutely no one", are now being awakened, fed and milking by the means of automation tools. To ensure that the milk produced by the cows remains in compliance with Australian standards, the milk is tested by sensors, with reports processed and sent back to the lab in town. Whereas according to World Economic Forum, on the other hand suggest that as the automation technology involve artificial intelligence so there is a possibility of 75 million jobs in this sector. As per one recent report by AlphaBeta estimated that, Australian productivity can be increased through automation & national income can be increased to $ 2.2 million by the end of 2030.(Turner 2019)

Competitive Landscape

Currently, there is a broad spectrum of around 1100 companies operating in the robotics sector of Australia (Turner, 2019). The aim is to target light industry markets and of related to electronics. This business plan does not take companies into consideration which belong to other sectors. Furthermore, it is believed that the companies operate in the auto and foundry sector does not pose a real threat to the company's operations. The top companies that are dealing with robotics in Australia includes; BetaShares, Faethm, Aos, Nachi, RTA, etc. (Keay 2018)

Consumer Landscape

The domestic robotics market spans five different main sectors. The sector car is by far the largest consumer of robotic products that come mainly used for painting and welding operations. The other sectors include: foundries and heavy industry, aerospace and defense industry, assembly of electronic products, consumer products and more. While the car sector today is the one that has most developed the use of, in the future it will be the turn of the electronic assembly market.

References for Concept Development and Validation

Karabegović, Isak. 2013. "Industrial robot applications in manufacturing processes in Asia and Australia."

Keay, Sue. 2018. A Robotics Roadmap for Australia. Australian Centre for Robotic Vision.

Turner, Adrian. 2019. Cashing in: Australia’s role in $1trn robotic revolution. Australian Financial Review.

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