Entrepreneurial Journey - BUSI97383
The Entrepreneurial Journey is a six-month venture start-up programme across all on-site MBA programmes. Students work in teams to develop a start-up business proposition. They will take an idea for a new product or service, develop a value proposition, carry out customer discovery research, validate the product or service, and create a plan for how to realise the business. At the end of the journey, they will pitch their proposition to a panel of investors.
The Entrepreneurial Journey is a programme in which students work autonomously on their project yet are supported throughout by coaching sessions with faculty and entrepreneurial experts, practical workshops, and match-making events. The programme involves collaboration with designers from the Royal College of Arts, and students and staff from various Imperial faculties who can join the teams. The Journey is supported by the Imperial Enterprise Lab which provides space, and expert support.
Entrepreneurial Journey - BUSI97232
The Entrepreneurial Journey module offers you a unique opportunity to build your knowledge, skills and experience in innovation, entrepreneurship and design. You will embark on a live entrepreneurial journey which provides insights into the challenges of introducing novel products and services to market. The process is as relevant to you if you are examining innovation within an organisation as it is if you are planning to start your own business. Operating as part of a multi-disciplinary team, you will explore emerging innovations in science, technology, design or business. Interacting with key researchers and practitioners in the field, you will investigate the commercial potential for your own idea or one being developed by one of our project sponsors, including Imperial Innovations and InnovationsRCA.
The module consists of two taught modules, followed by three coached workshops and a fourth assessed final presentation workshop. Modeule 1 of the teaching introduces you to the design literature and takes you through creativity sessions, design systems and introduces you to differenct innovation tools to visualise your ideas; Module 2 of the teaching focuses on the theories of innovaiton and entrepreneurship. World class scholars teach you the most relevant theoretical models in these domains. The four workshops help you develop your team's project and navigate your way through the "Entrepreneurial Journey".
1. Knowledge Objectives
You will understand:
- The process of preparing a start-up
- The concept of a commercial feasibility study
- Market research and industry analysis
- The difference between a business model and a business plan
- The difference between entrepreneurial thinking and doing
- The strategic contribution of design in the innovation process
- The importance of human-centred design in creating end user and business value
- Design Systems Thinking and its role in product, services and business innovations
- Role of Innovation Technologies (IvT) in transforming the design-led innovation process
- The importance of a strategy for design-led innovation
2. Skill Objectives
You will develop:
- Communication skills in an inter-disciplinary team under time pressure
- Creative problem solving techniques and their application within an inter-disciplinary team
- Practical skills in Design Management
- The practical skills needed to assess commercial potential of new products or research under development
- The strategic thinking required to effectively address the challenges of both conceiving and introducing new products and services to market
- The skills necessary to build a strong client-consultant relationship and deliver value through the project to the client