Introduction

We are a team of 5 young individuals who are currently pursuing their final year engineering degree study in Taylor's University Lakeside Campus. We strived to find an innovative idea and turn our ideas into reality to help solve daily challenges that people face in their life. Our crowdfunding project is to design a customisable wallet with tools fitted to help reduce or alleviate the situation or burden people faced throughout their daily life. And by doing this, we can help make their day a brighter one even by a little so that they can continue pushing forward in life without having any obstacles being on their pathway towards success. Hence, we sole heartedly believe that it is our duty to make a difference within the community, even by a small amount. With that being said, we decided to start up a crowdfunding campaign and this crowdfunding campaign itself is a part of an assignment handed out to us under the Business Skills for Engineers module.

Project Background 

Have you ever been in a situation where you wish you have the right tools to get something done at that particular moment? For example, a screw on the wall that you wish to remove but then the right tools needed at the particular moment is not with you. We can all admit that our mobile phones and wallet never really left our side when we are out. We have then decided that the best way to overcome such challenges are then to have a wallet which then contains all these tools and at the same time not compromising the function of a wallet. Hence, our crowdfunding project is then to be a patent pending wallet which is to be fully customizable with tools which is able to solve many if not all challenges faced in our daily lives. This will then be redefining how and what a regular wallet is to be like. With that being said, every wallet will then be different from each another in every way. 

We will specifically design our EZ wallet with proper dimensions using SolidWorks software. Once that is completed, it will then be sent for 3D printing in Taylors University Mechanical Laboratory based on the SolidWorks file that we have created for our wallet. When designing the wallet, our main objective is then to be that the shape of wallet and the size of it does not differ much from an average looking wallet which is already on the market today. Besides that, we have also realized that there are then to be two types of wallet which are already in existence in the market today. One will then be the premium wallet and the other is then to be the practical wallets. Moreover, we have also noticed that there are no crossovers between these types of wallet which that the material used in the premium wallets are always better than that of the practical wallets. This is then about to change as we plan to have a wallet which is then to crafted with premium material which will then enhance the cosmetics of the wallet in order for the wallet to look aesthetically appealing. This wallet of ours will then be sophisticated but it can then assured that it will not be overindulgent. This wallet will then be able to be revolutionized how and what a wallet should look like. 

The value proposition of this project is then to be listed as below:

1) Able to separate compartments to store coins, notes, and tools that were being promised.

2) The wallet is then able to be customized according to every individual.

3) Easy to access and has a good fitting to customer's needs and space.

Prototype Design

The feature of a modal which resembles our prototype can be demonstrated in the following photos:

Overview of wallet (note, coins and card compartments)

Tools compartment

Tools compartment

Targeted Customer

The targeted customers are the wallet buyers.We intend to reach them by carrying out surveys and putting up advertisements on social media. The purpose of the conducting out the survey to the public is to ensure that we clearly understand and able to fulfill the needs of the end user of the wallet. Moreover, we will also try to come up with a prototype in order for the end users to have a better visual of the end product and obtain feedback from there are then to be needed and are extremely important in order to make further improvements on the product. Apart from that, the project is required to fit within the course timeframe.

Budget Plan

The budget plan of this crowdfunding is as follows;

Hence,the amount of RM50,000 will then be distributed accordingly based on percentage as being illustrated above in the pie chart. 

How Will The Funds Be Managed

Since we have chosen FIXED FUNDING, the wallet design won't be able to be further improvised unless we hit the targeted amount that we have set.Through those funds that have been collected, it will be utilized for further research and development in order to make more improvements on the design of the wallet. Apart from that, it would be donated for charity purposes such as old folks home and orphanage home. As for the remaining funds, it would be utilized fully to enhance our staff in terms of creativeness and general knowledge to invent a more sophisticated wallet design or even any other products. 

Roles of Team Members

Some of the risks and challenges faced while carrying out this crowdfunding project:-

1) If you decide to become the backer of The Wallet you will be helping us make this concept a reality. Our final prototype is not ready just yet but we are still working on turning our ideas into reality.

2) The delivering schedule takes time in order for it to be delivered and it has been found that a working prototype is not sufficient.Therefore to properly measure its manufacture time, a production run is necessary. This is done accordingly through many surveys and interviews. If ever the volume exceeds our expectations, a well-experienced production team will be on the lookout. To have a higher production cost going, we strive to manufacture the product locally. By doing this, this allows us to maintain a high-quality wallet design and at the same time, ensuring a fresh look in every aspect of the design.

3) Design of the wallet was too specific inclusive of the compartments design, making it a little tad bit difficult for the team to design using SolidWorks software as it requires proper dimensioning and reference point. Fortunately enough, we were able to get this sorted out by designing each component of the wallet separately and finally merging all of the components together into a single product that is known as the "EZ Wallet".