The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an intern at State Farm. I completed a project that was a massive data entry job and made it into a process that took clicking three buttons to finish. Although just one example, it was clear that State Farm as well as the insurance industry in general are not utilizing automation and machine learning. The adaptation of automation and machine learning will have internal and external benefits for insurance companies like increased efficiencies in business processes and increased customer satisfaction. However, to realize these external and internal benefits, companies, like State Farm, must implement an adhocratic culture where risk taking is incentivized, and companies must invest resources into their underwriting processes, rather through internal investment or an acquisition, to automate the process.

Waste pickers are the victims of harsh economic and social factors that have hurt many<br/>developing countries and billions of people around the world. Due to the rise of industrialization<br/>since the 19th century, waste and disposable resources have been discarded around the world to<br/>provide more resources, products, and services to wealthy countries. This has put developing<br/>countries in a precarious position where people have had very few economic opportunities<br/>besides taking on the role of waste pickers, who not only face physical health consequences due<br/>to the work they do but also face exclusion from society due to the negative views of waste<br/>pickers. Many people view waste pickers as scavengers and people who survive off of doing<br/>dirty work, which creates tensions between waste pickers and others in society. This even leads<br/>to many countries outlawing waste picking and has led to the brutal treatment of waste pickers<br/>throughout the world and has even led to thousands of waste pickers being killed by anti-waste<br/>picker groups and law enforcement organizations in many countries.<br/>Waste pickers are often at the bottom of supply chains as they take resources that have<br/>been used and discarded, and provide them to recyclers, waste management organizations, and<br/>others who are able to turn these resources into usable materials again. Waste pickers do not have<br/>many opportunities to rise above the situation they are in as waste picking has become the only<br/>option for many people who need to provide for themselves and their families. They are not<br/>compensated very well for the work they do, which also contributes to the situation where waste<br/>pickers are forced into a position of severe health risks, backlash from society and governments,<br/>not being able to seek better opportunities due to a lack of earning potential, and not being<br/>connected with end-users. Now is the time to create new business models that solve these large<br/>problems in our global society and create a sustainable way to ensure that waste pickers are<br/>treated properly around the world.

The ongoing Global Coronavirus Pandemic has been upheaving social norms for over a<br/>year at this point. For countless people, our lives look very different at this point in time<br/>then they did before the pandemic began. Quarantine, Shelter in Place, Work from<br/>Home, and Online classes have led global populations to become less active leading to<br/>an increase in sedentary lifestyles. The final impact of this consequence is unknown,<br/>but emerging studies have led to concrete evidence of decreased physical and mental<br/>wellbeing, particularly in children. VirusFreeSports was the brainchild of three ASU<br/>Honors students who sought to remedy these devastating consequences by creating<br/>environments where children can participate in sports and exercise safely, free of the<br/>threat COVID-19 or other transmissible illnesses. The ultimate goal for the project team<br/>was to build traction for their idea, which culminated in a video pitch sent to potential<br/>investors. Although largely created as an exercise and we did not create a full<br/>certification course, merely a prototype through a website with sample questions to<br/>gauge interest, the project was a success as a large target market for this product was<br/>identified that showed great promise. Our team believes that early entrance to the<br/>market, as well as the lack of any other competitors would give the team a tremendous<br/>advantage in creating an impactful and influential service.

Human beings have long sought to conquer the unconquerable and to push the boundaries of human endurance. There are few such endeavors more challenging than venturing into the coldest and harshest environments on the planet. The challenges these adventurers face are nearly countless, but one that is often underestimated is the massive risk of dehydration in high mountains and the lack of sufficient technology to meet this important need. Astronauts and mountaineers of NASA's Johnson Space Center have created a technology that solves this problem: a freeze-resistant hydration system that helps stop water from freezing at sub-zero temperatures by using cutting-edge technology and materials science to insulate and heat enough water to prevent dehydration over the course of the day, so that adventurers no longer need to worry about their equipment stopping them. This patented technology is the basis of the founding of Aeropak, an advanced outdoor hydration brand developed by three ASU students (Kendall Robinson, Derek Stein, and Thomas Goers) in collaboration with W.P. Carey’s Founder’s Lab. The primary goal was to develop traction among winter sport enthusiasts to create a robust customer base and evaluate the potential for partnership with hydration solution companies as well as direct sales through online and brick-and-mortar retail avenues. To this end, the Aeropak team performed market research to determine the usefulness and need for the product through a survey sent out to a number of outdoor sporting clubs on Arizona State University’s campus. After determining an interest in a potential product, the team developed a marketing strategy and business model which was executed through Instagram as well as a standalone website, with the goal of garnering interest and traction for a future product. Future goals of the project will be to bring a product to market and expand Aeropak’s reach into a variety of winter sport subcommunities, as well as evaluate the potential for further expansion into large-scale retailers and collaboration with established companies.

Startups in the paper manufacturing industry are few and far between. Agrix paper takes a step towards innovating the traditional mass-scale paper making process and introduces non-wood fiber sourcing into the papermaking space. Using a hemp fiber base, Agrix Paper hopes to develop a new paper manufacturing process that derives high-quality paper sourced from hemp and agriculture waste. Agrix Paper will reinvent the papermaking process for a more green and sustainable future.

For the honors thesis project, a group of five individuals collaborated to design and implement a sustainable business in the ASU community. Kandi Society is a rising jewelry brand whose top priorities include giving recycled plastic a new purpose, philanthropy, and making a welcoming, creative environment for our customers. We designed the Eco-Bead with 3D CAD modeling and produced it through a process called plastic injection molding which is explained in detail in the final paper. Kandi Society instilled a positive impact on ASU students by igniting a sustainability spark and increasing interest in repurposing materials in the future.

The Founders Lab is a team-focused, exploratory Barrett Thesis project that allows students the opportunity to discover and utilize their “inner entrepreneur”. This project empowers teams of students to come up with a business idea; create a strategic business model; conduct research on a target market; generate a brand style, logo, and other marketing-related materials; meet with business professionals as a way to receive feedback; and finalize a business plan with tangible deliverables. This project in particular focuses on the creation of an app that allows users to connect with others in competitive esports tournaments and participate in tutoring sessions for financial incentives. Throughout our experience participating in the Founders Lab, we were able to construct this business pitch.