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Identify a business opportunity with digitalized manufacturing in your chosen industry, and develop it into a viable business model.
Digital manufacturing technologies encompass a broad range of tools and systems that are transforming manufacturing through digitization and connectivity. They are foundational to the smart factory and Industry 4.0, where real-time data, automation, and advanced analytics drive efficiency. However, despite their potential, digital manufacturing technologies face challenges in scalability and integration within traditional manufacturing environments. In this Build Project, you will act as a multi-disciplinary analyst, selecting a digital manufacturing technology (such as IoT, robotics, or digital twins) to explore its applications in a specific industry sector.
Guided by expert Project Leaders, you will analyze technology-specific challenges and the unique demands of your chosen industry, identify key stakeholders who influence adoption, and create a business plan to support implementation. By the end of the project, you will present this plan, demonstrating the role of digital manufacturing in enhancing productivity and agility. This project will introduce various digital manufacturing technologies and tools, including industrial IoT platforms, simulation software, and AI. To keep it realistic and fun, you will do your study in an environment simulating the operations of a real, small-scale startup team.
This workshop aims to put you all on the same baseline before diving into your chosen fields and applications.
Each participant chooses an industry of interest and reviews major manufacturing players (Original Equipment Manufacturers) in it. Based on this, a participant chooses one company to focus on.
In this workshop, we overview 5-10 technologies most relevant to the list of companies chosen by course participants. Based on this review, each of you will choose one technology that seems to have a considerable impact for further analysis.
Review the relevance of a technology to a chosen company: discuss the opportunities, point out the challenges, and brainstorm the ways for commercially-successful applications.
Present three alternative ideas, and select one in a discussion with the group and the Project Leaders.
Present the business plan and get the feedback based on criteria given for a previous homework.
In this workshop, you’ll present the drafts of their business ideas to get the feedback. Based on it, you’ll revise the points requiring improvement and prepare for the final presentation.
Final presentation of the business idea. Deliverable of a slide deck that can be used by a student as part of the project portfolio to support in the interview process.
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Suhin is a Mechanical Engineering Build Fellow at Dream Venture Labs, where he works with students leading projects in Mechanical Engineering.
Suhin is a co-founder of Upgrade Manufacturing, Inc., where he focuses on developing ML/AI-based manufacturing assistant tools, particularly for small- to medium-sized machine shops.
Suhin has over 7 years of experience in the mechanical engineering research field.
Suhin worked at the Hyundai Motor Company, Seoul National University, and the Massachusetts Institute of Technology as a research engineer/scientist.
He holds a B.S. and Ph.D. degrees in Mechanical Engineering.
A fun fact about Suhin is that he loves watching soccer games with his son.