This module aims to push students to unleash their entrepreneurial spirit and develop business cases which have economic potential and have been informed by social or technological opportunities. This module builds on initial introductions to contexts for innovation and entrepreneurship in first and second year and presents students with real-life situations as entrepreneurs by working with experienced experts to develop business cases in only 8 weeks. It substantially deepens knowledge and understanding of key concepts and methods used in strategy, innovation and design thinking for commercialisation of new technology and innovating new services and products. Together with an expert network composed of a corporate sponsor, a set of experts acting as coaches and the wider Imperial entrepreneurship ecosystem, students will fast-track through an entrepreneurial journey. In teams, students pitch a business opportunity and develop a venture plan, and complement evaluation of their performance with an individual reflective essay.                

 

Learning Outcomes

On completion of this module, students will be better able to:

•   Identify and develop new business opportunities through new technology (tech push) or gaps in the market (market pull).
•  Move from idea to commercial product by learning about different types of innovation, patterns, dominant designs and market entry timing.
•   Build on previous team working skills by managing different stakeholder relationships - including budget, people, time; apply project management skills to their projects
•   Develop a cost projection of your venture to justify resource injection. Apply key concepts in business accounting and finance in your context.
• Position their venture in the perception of your audiences and develop services consistent with the brand message.
•   Position their venture within a competitive market, and apply main strategic concepts
•   Turn their idea into a great story, and communicate its benefits effectively, independent of the setting - pitch, present, sell.

        

Description of Content

Entrepreneurial thinking
  Managing Ambiguity
  Assessment of Market Potential
  Intrapreneurship
  Corporate Entrepreneurship
  Innovation
  Marketing
  Positioning the venture
  First-Mover vs. Fast Follower
  Collaboration with Partners
  Types of Innovation-radical vs incr., architectural
  Technology S-Curves of Diffusion
  Dominant Design
  Lean Methodology
  Service Design Thinking
Innovation and management methods
  Industry Evaluation
  Competitive Analysis
  Venture Management
  Opportunity Mapping
  Market Research
  Business Models
  Business Plan
Management
  Strategic Management
  Project  Management
  Team Management
  Client Relationship Management
  Entrepreneurial Finance and Accounting
Communication
  Stakeholder communication; pitching and selling
  Narrative and storytelling