Now that the trimester comes to an end, it’s a great time to reflect on what we’ve learned and accomplished in the class. During the course we explored different aspects of business models and technology, including lean canvases, C-suite roles, blockchain and cryptocurrencies, unfair advantages in business, communication, teamwork and self-assessment.

During the course, we worked on a simulated startup that focused on reducing food waste in Mexico by purchasing "ugly food" ingredients from supermarkets and transforming them into ready-to-eat meals. Our goal was to create a technology-based solution which could diminish the amount of food waste in México. As a result, we started brainstorming ideas and eventually decided to follow a two-part platform that allowed us to purchase food items from supermarkets at a reduced price and connect with local clients who wanted to eat. This solution aimed to reduce the amount of food waste produced by supermarkets in Mexico, which is the largest food waste producer in Latin America.

In this team project, several team members adopted various c-suite roles, taking on their responsibilities while working on the project. When we first started, I was chosen as the CMO of the project, where I initially had the responsibility of understanding the market size and customer needs. However, as the project evolved, I transitioned to the role of CTO, where my responsibilities were shifted into investigating appropriate technologies and digital tools, making sure they align with the business goals and user needs, and searching for innovations by using technology. I also worked closely with the CMO, CGO and other team members to ensure that the platform meets the needs of our target market and that we can employ appropriate growth strategies.

For the startup project we intended to leverage various cutting-edge technologies to enhance the business model. This includes implementing AI and machine learning algorithms to forecast demand for specific foods and optimize logistics and inventory management. We planned to utilize blockchain technology for payment processing and ensuring transparency in the procurement of ingredients from supermarkets. Additionally, we aimed at developing a two-part platform catering to both B2B and B2C customers by using SaaS. Our kitchens would utilize 360-degree cameras to provide our clients with transparency and assurance that our processes meet the required standards. IoT devices would also be employed to track inventory levels in real-time and maintain accurate updates of food items in the platform. We consider that employing a single platform for both procurement and sales, would streamline the entire process from start to finish, resulting in a more efficient business model. By implementing these technologies, we aim to create a mutually beneficial situation where supermarkets can minimize food waste and earn extra profits, while customers are able to buy delicious food at affordable prices.

Additionally, during the trimester we had the opportunity to visit the Mostla lab (https://mostla.tec.mx/), an innovation lab at Tecnológico de Monterrey, where we had access to several of these technologies in order to come up with ideas on how we could implement them in our projects. We also visited Monterrey Digital Hub to understand the advantages of digital businesses over traditional businesses and we discussed how entrepreneurship can be a viable option for us as soon-to-be graduates, especially in the digital space.

Moreover, one of the key takeaways from the class was the importance of effective communication and teamwork in building a successful business. Throughout the class, we worked in various teams to work on different activities. We learned how to be better at communicating our ideas effectively, give and receive feedback, and collaborate with others who have different skills and perspectives.

The class also helped us emphasize the importance of self-assessment and continuous learning in business. We were encouraged to reflect on our strengths and weaknesses and to identify our areas for improvement. 

Although the project was purely hypothetical, it allowed us to utilize our knowledge from this and other classes, and apply it to a real-world problem. We had to think about our target market, the costs involved, potential competition, and ways to generate revenue. We also had to consider which digital tools we would use, such as AI, blockchain, SaaS, machine learning. 

In conclusion, our class on business models and technology was a valuable experience that equipped us with valuable skills and knowledge, mainly through the development of our hypothetical startup. We also had the opportunity to explore cutting-edge technologies and to work collaboratively with others. Overall, the class has provided us with valuable skills and has given us knowledge on the challenges of building a business, and how digital technologies impact them in today’s world.