EXECUTIVE SUMMARY

Penguin is an Austrian startup, which specializes in the field of data security and encryption methods. By combining different already known encryption methods such as one-time pads, they were able to create a mathematically unbreakable, yet scalable solution for encrypting all sorts of data and they already have the idea of setting up an email client. We, as students, identified new application fields and industries where this could be used by using the TCL method.

Goal

Our main objective of the project was to identify new application fields for the encryption technology and provide the project partner with our results. On one hand, we as students overcome the organization’s local search bias by looking at potential users from various domains. On the other hand, we tend to master the solution-based search specification by starting to focus on the benefits of the technology rather than putting the focal point on the technological aspects. This allows us to look outside of the box and discover completely new application fields. In the next step, we selected the three most promising fields and further developed market strategies with tools such as Porter’s Five Forces, developed market entry strategies and identified potential partners.

Methodology

In order to identify new application fields for the encryption technology, we used the TCL (Technology competence leveraging) method. In the first step, we analysed the user benefits of the technology which allowed us to overcome the functional fixedness of the organization as we, as students, rather look at the benefits of the technology than at the complex technology aspect. After conducting dozens of interviews in different industries we identified 26 new application fields. In the next phase, we evaluated the application fields based on different criteria and further developed market strategies for the three most promising fields.

Results

After ranking our 26 fields from low, medium to high potential and presenting them to our project partner we collectively decided to further investigate the fields Password Manager, Medical Sector and the legal and Tax sector as those seemed to be the most promising ones. The different market conditions were evaluated, and market entry strategies were proposed. Now it is in the hands of our project partner to further develop the product and take action upon our recommendations.

Cooperation Partner

• Penguin
  Teinfaltstraße 9/7
  1010 Wien
  Österreich

Contact Person

• Sebastian Mayer - sebastian.mayer@penguin.eu.com

Student Team

• Katharina Petrovic

• Lion Dungl

• Florian Leitner

• Theo Götze

• Mavie Thaler

• Paul Ambroziewicz

• Fabian König

• Philipp Markopulos

Project Manager

• Klaus Marhold, Ph.D.