The MSc Innovation, Entrepreneurship & Management consulting project marries the theoretical with the practical, giving students hands-on application of the knowledge they learnt throughout the Master’s to real entrepreneurial situations.
Over the course of a month, students work closely with a company to analyse a real consultancy problem. At the end of the project, they present their findings to a panel of judges who are industry experts, academics and corporate representatives from their assigned companies.
In essence, the consulting project is a stepping stone to the “real-world”, helping students take the leap from Master’s to work life, launching them into exciting career opportunities such as developing startups, becoming innovation consultants and starting their own businesses.
This year’s students were lucky to work with some exciting companies like startup Cartaroo, the first online Mall in Cyprus, Placed App, a mobile and web application that matches candidates to hospitality venues and Fluxx, a product and service innovation company.
The projects investigated a wide range of topics from new product development to growth strategy plans, creative marketing strategies and selling a culture of innovation.
To give us an insight into the consulting project, we look at the project for Citi Ventures, the innovation arm of the investment bank and financial services corporation, Citi.
We speak to the company lead from Citi Ventures on how Imperial students added value to the project and find out the students’ experience.
Andrew Wegrzyn, Management Associate at Citi
How did you benefit from working with Imperial students on this consulting project?
As part of the Citi University Partnerships in Innovation & Discovery program, we are continuously collaborating with a wide array of diverse and emerging talent to co-create and design strategic product and service solutions for Citi and its clients. One of the most impactful benefits from working with Imperial students was being able to think through and explore complex macroeconomic challenges with bright, forward-thinking individuals who come from such impressive and unique professional backgrounds. Students were energetic, motivated, and hit the ground running from day one, ready to explore issues that are impacting the financial services industry on a large scale and ideate around solutions.
What was the most enjoyable part of the project?
The most enjoyable part of the project for me was collaborating with the students on a full cycle of product development – from concept to data gathering to analysis to product ideation to solution. In a short amount of time, they were able to synthesize a significant amount of data, analyse it, and translate those analyses into real-world solutions that can have a positive impact on the way we at Citi understand and process complex macroeconomic issues.
Do you see long-term implementation of the work that has been done on the project?
We encouraged Imperial students to define both the problem they would analyse and also the solution to that problem. Ultimately through their analyses, students settled on a cybersecurity project where they both developed strategy around attracting talent and also classifying cities by their suitability for cybersecurity investment. They were able to focus on a challenge that was incredibly relevant and salient for both Citi and for the financial services industry. The resulting output could easily be passed to our business partners and provide value for their work.
Team: Hasan Alaali, Edoardo Bizzarri, Alessandro Frione Rodoni, Achari Kambhu Na Ayudhaya, Praopan Kambhu Na Ayudhaya and Pamir Sevincel.
How did you apply your learnings from your Master’s to this consulting project?
During our Master’s programme in Innovation, Entrepreneurship and Management, there was a great emphasis on innovative mindsets and behaviours. We investigated case studies which discussed relevant and emerging topics and trends in the world. This interest in innovation was invested in projects throughout the academic year and lastly motivated us to explore the future of labour mobility and the cybersecurity sector for this consulting project.
What was the most enjoyable part of the project?
The most enjoyable part of the project is definitely the steep learning curve. Given the increasing significance of information technology, we particularly appreciated expanding our knowledge about cybersecurity, which is a major topic in the emerging economic landscape.
How did you benefit from working with Citi Ventures on this project?
Members of our team have studied and worked across five continents. Thus, the topic of labour mobility is particularly relevant to our career goals and vision for the future. Working with a technology-focused venture capital has consolidated our entrepreneurial and explorative mindsets in areas of our interest.
What were the challenges?
One of the challenges we faced was achieving the deliverables we aimed to accomplish within the designated amount of time. As a team, we were ambitious and incredibly passionate to produce a deliverable of the highest calibre. Achieving this in a month was challenging, which in turn also motivated us to take on the challenge.