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TMCNet:  Students Design New Ways to Save for the Future

[March 15, 2017]

Students Design New Ways to Save for the Future

College students from across Colorado recently completed the disCOver Challenge, hosted by Project X-ITE at the University of Denver (News - Alert). The challenge was led by Fidelity Labs, the R&D unit of Fidelity Investments. Design strategists from Fidelity Labs created content and ran workshops to help the students learn Design Thinking Methodology, which is used throughout Fidelity.

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Colorado State University Global Social and Sustainable Enterprise MBA students, from left to right, ...

Colorado State University Global Social and Sustainable Enterprise MBA students, from left to right, Charlie Warden Hannah Holden, Meghan King, and Montana Williams, stand for a portrait after their team "Business for Good" was awarded the $10,000 first place prize during the DisCOver Challenge business design competition at University of Denver on March 4, 2017. Photo by Griffin Moores for Colorado State University College of Business.

The students were challenged to design new ways to help people put money aside for healthcare costs, while continuing to build their long-term wealth. Team 'Business for Good,' comprised of students from Colorado State University, developed a prototype for a website which provided one place to sign up for both a retirement-savings account and an a la carte-style healthcare plan. The team learned users did not click on the word "invest" so they changed the site to say "stash your cash," in one example of how they incorporated user feedback and prototype testing in the final design.

"Design Thinking requires collaboration and creativity to define and address a problem," said Suzanne Hamill, head of Design Thinking at Fidelity Labs. "When we teach students Design Thinking, we often learn the most. We hear about new product ideas, we see new ways of working, and most importantly, we learn more about our customers and potential customers."

"The disCOver Challenge provided students from Colorado's top universities the opportunity to tackle messy, ambiguous problems that matter to business and society," said Erik Mitisek, executive director of Project X-ITE. "By using creative and analytical approaches to innovate at the highest level, the students who participated in the disCOver Challenge have built their skills as creative, human-centered leaders who can succeed in today's rapidly evolving work environment."

Fidelity Labs operates in eight global locations and works frequently with academic partners who are passionate about Design Thinking, such as the Rotman Design School, Harvard iLab, Stanford d.school and Massachusetts College of Art and Design.

"We sponsored this event to teach students a new way of working and thinking, and to generate innovative ideas around health and wealth," said Hannah Lippe, design strategist at Fidelity Labs, who coached students for the challenge. "We're really teaching them about empathy; how to care for other people and their needs."

More about the disCOver Challenge:

  • Teams came from the top local universities in Colorado, including the U.S. Air Force Academy, University of Colorado Boulder, Colorado State University and the University of Denver
  • The challenge began with a day-long Design Thinking boot camp in February, led by Fidelity Labs, and culminated with student presentations March 3-4 in Denver
  • The top three projects came from teams at Colorado State University and the U.S. Air Force Academy.

About Project X-ITE
Project X-ITE connects all the resources of the University of Denver together to advance innovation, technology and entrepreneurship across our community, region and world. Supported by the Daniels College of Business, the Sturm College of Law, the Daniel Felix Ritchie School of Engineering and Computer Science, and a working group of business leaders, Project X-ITE offers an unparalleled regional hub for new ideas and connections that break through traditional industry segmentation.

About Fidelity Labs
Established in 1998, Fidelity Labs is the innovation engine for Fidelity Investments. We research and employ emerging technologies and design thinking to address big societal issues for Fidelity's customers. With a global team of more than 100, we provide expertise across Fidelity to lead the firm in exploring new lines of business. Learn more at fidelitylabs.com.

Fidelity Labs, Inc. ("Fidelity Labs"), a Fidelity Investments company, is responsible for this content. Fidelity Labs provides innovative products, services, content and tools, as a service to its affiliates and as a subsidiary of FMR LLC. Based on user reaction and input, Fidelity Labs is better able to engage in technology research and planning for the Fidelity family of companies.

This content is not intended to provide tax, legal, insurance or investment advice and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by any Fidelity entity or any third-party.

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