FRACTAL Methodology for Industry 4.0 & Society 5.0-Driven New Product Development: Empowering Engineering Students for Startup Innovation

Industry 4.0 brings a new era in design and manufacturing, characterized by the integration of cyber-physical systems (CPS), Internet of Things (IoT), artificial intelligence (AI), data analytics among other technologies. Society 5.0 aims at using these tools for the wellbeing of humankind. This paradigm shift needs a structured methodology for new product development and management, particularly pertinent for engineering students aspiring to pioneer startups. This work proposes a methodological framework tailored for Society 5.0, providing a strategic approach for engineering students that are willing to create “smart products”. By juxtaposing these technological developments with established human-centered product design principles, this framework equips students with the tools and best practices to harness innovation and drive entrepreneurial success.