My name is Riya Anand. I am a rising sophomore at the University of Pennsylvania studying Chemistry and pursuing minors in Environmental and Sustainability Management and Engineering Entrepreneurship at the Wharton School. This summer I worked at Princeton Satellite Systems (also doing business as Princeton Fusion Systems) as a Business and Product Development intern.
I predominantly worked on two projects during my time at PFS: GAMOW & PFRC-3.
GAMOW: ARPA-E GAMOW brings together Princeton Fusion Systems, Princeton University, the National Renewable Energy Laboratory (NREL), and Qorvo (formerly UnitedSiC) to develop high efficiency switching amplifiers using cascode wide bandgap (WBG) devices, employing advanced cooling technology in the form of digitally controlled boards. The Technology-to-Market (T2M) plan allows for the development of a strong understanding of a product and its surrounding market, customers, and acquisition strategies. Over the past few months, I worked on the third revision of the GAMOW T2M plan. Specifically, I worked to insert various elements to improve the strength and effectiveness of the plan to the reader.
In order to do this, I conducted market analysis (using a TAM/SAM/SOM framework for GAMOW’s primary, secondary, & tertiary markets) and cost analysis (using both a “bottom-up” and cost-benefit framework). In conducting the analyses, I was able to meet with leaders at PFS’s collaborating companies including the Head of Marketing at Qorvo, a company that specializes in creating cascodes, to collect metrics and strategies.
I followed up my market research with competitive analysis where I analyzed areas such as technology of focus, products, financial resources/market share, marketing strategies, future plans and growth, etc. for various competitive startups and companies. This allowed me to pinpoint areas PFS’s strengths and use it to compose a value proposition.
Additionally, I worked to organize all of the end-user organizations that PFS has come in contact with at previous summits, conferences, etc. to ensure room for effective communication and to serve as a reminder for the needs of clientele as the GAMOW technology develops.
Finally, after meeting with some potential investors for the GAMOW technology, I put down a framework for the EBITDA margin (earnings before interest, taxes, and amortization, a measure of company profitability), valuation at exit, & return on investment that would allow for derivation of numbers that could be presented to investors, collaborators, clients, etc. and helped in creating a GAMOW Product Roadmap document and pitch deck that simplified descriptions of each of GAMOW’s products, down to images and definitions of each component, both essential for strong understanding of the technology.
Apart from adding this information to the T2M plan, itself, I created a business/marketing slide with T2M information (including goals, target market, assessment of competitiveness, assessment of market, and a value proposition) that was used as PSS’s lead slide at the ARPA-E 2023 Energy Summit. I compiled all of the above information and other highlights within the plan into an Executive Summary of the technology that now leads the T2M report.
PFRC: The Princeton Field Reversed Configuration (PFRC) device is a nuclear fusion reactor which provides a revolutionary approach to fusion power generation. The reactor is small and clean and can be used in diverse applications, from submarines to urban environments to space propulsion. A model of the PFRC is shown below. Under this project, I attended the 5th Annual Department of Defense Power and Energy Conference outside Washington D.C. where I heard from renowned figures such as Major General David Maxwell and was able to speak to and learn from figures such as Honorable Sharon Burke and numerous representatives from Guernsey, Ammentum, and NextEra Energy about PFRC technology and applications.
Prior to the conference, I had been attending weekly Plasma Physics lectures under Professor Samuel Cohen at the Princeton Plasma Physics Laboratory (a national Department of Energy laboratory) and using the information I learned here to create T2M and general marketing slides, later accessible by all we spoke to at the conference. The slides included an extensive value proposition (in terms of military, space propulsion, civil terrestrial), market standing, manufacturing lead, product roadmap, end-user understanding, competitive advantage and analysis of the general industry). All of the contacts and information accumulated in this conference were compiled into a multipage summarizing document.
Via my conversations at the Summit, I was able to set up meetings with potential collaborators/clients and PFS. One of these meetings in particular experienced success and led to further discussion and strong possibility of collaboration once technological details are finalized.
Overview: As a whole, PFS provided me with a space where I was able to diversify my past experiences through exposure across various industries. The integration of hands-on-experience, being able to join conversations with clients, investors, and collaborators as an intern, into academic offerings made PFS an ideal environment for me to develop skills such as problem solving, effective communication, thought leadership, and collaboration, which will give me the agility and ability to understand and move between industries. I have gained experience in fields ranging from plasma physics and aerospace engineering to entrepreneurship and operations, giving me exposure to the crossroads between STEM and business. The tight knit network within the company provided me a place where I could grow, learn, and eventually, contribute to the business development efforts of the company. I would not have been able to do this without the help of each and every person at PFS who was extremely welcoming and willing to provide 1:1 mentorship and guidance each step of the way. I am extremely appreciative of PFS for giving me the opportunity to work with them this summer. I am confident that I will apply all that I have learned here to all of my future endeavors.