Regulation Changes
Opportunity 1: Autogenerate FDA approved and updated
food labels for small scale producers
Regulation Title: Food
Labeling: Revision of the Nutrition and Supplement Facts Labels; Small Entity
Compliance Guide; Availability
Source: FDA-2012-N-1210-2177
Why might the opportunity exist:
Small businesses may not have the funds and time to operate their own legal
department which keeps up-to-date with the latest FDA regulations.
Prototypical Customer: Small
scale producer/entity selling at a produce store, or interested in selling in a
store.
Difficulty: The main barrier
for entry is fully understanding the rules and regulations established by the
FDA. This would require a substantial
amount of time reading and making phone calls.
Thus, the knowledge barrier is high.
But, the capital barrier is low.
Why did I notice the opportunity:
A few years back, I had considered starting a small farm. I had researched and witnessed other people’s
experiences as small scale farmers and producers; their main focus is on
perfecting the product. Nutrition
labeling can be a hassle, especially when the laws keep changing. And that labeling is necessary if the
producer wants to expand beyond the local, unregulated farmer’s market.
Opportunity 2: Production of Inexpensive Remote Identification
Device for Hobbyist/Manufacturer
Regulation Title: Remote
Identification of Unmanned Aircraft Systems
Source: FAA-2019-1100-0001
Why might the opportunity exist:
The FAA predicts that within 3 years, all unmanned aircraft system (UAS)
will operate in conjunction with the remote identification requirements.
Prototypical Customer: Manufacturer
or Hobbyist
Difficulty: Quite difficult. Need deep understanding of the vast
complexity of the Federal Aviation Association’s regulations regarding
UAS. A whole infrastructure of
receivers, transponders, and data processors must be created
Why did I notice the opportunity:
I own a drone which I built myself, however, this regulation would limit
the locations I can fly it. An
additional remote identification device would increase the weight and decrease
the efficiency of my aircraft
Economic
Opportunity 3: Recycle and replace Lithium-ion
batteries in electric vehicles
Trend: Increasing number of
electric vehicles in production and a near “peak” in Lithium-ion battery R&D
Source: IBIS World
Why might the opportunity exist:
The production and R&D of Lithium batteries, though continuing, have
slowed. This means the same composition
Li-ion batteries, or similar ones, will be used for the near future making it
fairly easy to recycle and combine Li-ion cells into larger batteries. In addition, as the more electric vehicles
are produced, the more cells will be prone to fail. And thus the more vehicles in need of
servicing.
Prototypical Customer: Owners
of electric vehicles
Difficulty: Requires a lot
of hours of research and testing methods for recycling batteries. Fairly difficult to compete with the
battery/automobile manufacturers if they are already implementing a battery
replacement plan.
Why did I notice the opportunity:
I’ve been fascinated by electric cars since I was a kid. I have had time to think about some issues
with electric vehicles and this is one of them.
Opportunity 4: Solar Panel manufacturing and
installation
Trend: Forecasted increase
in electrical power consumption for the next five years. Steep tariffs on imported photovoltaic cells.
Source:
IBIS World
Why might the opportunity exist:
Increase in power consumption plus protective tariffs will bolster the
domestic market for solar panels.
Prototypical Customer:
Environmentally and financially conscious individuals/business owners seeking
high quality US made products
Difficulty: Requires
knowledge of solar cell production and techniques for manufacturing. Additionally, sales and installation team
required
Why did I notice the
opportunity: My parents recently had solar panels installed at their
home. I noticed on the installation
side, there could be a few ways to increase efficiency. In regards to purchasing the cells
themselves, quality, as well as cost, is of the utmost importance, especially
as this is a long-term investment (break-even around 10-20 years depending on
consumption).
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