- Class 6
- Practice 9
- Independent work 165
Innovative Project 3 – Go to market strategies
Lecturers and associates
This is a series of three interconnected modules (Innovative Project 1-2-3)
The entrepreneurial mindset empowered by digital technologies is becoming more and more a requisite to improve society. This entrepreneurial thinking can be taught, and the fundamentals can motivate individuals to pursue their business interests and/or add value to existing business organizations. These modules prepare students for a future career as entrepreneurs, either as founders of new businesses or within already established companies and to give students practical insights into those business aspects that are particularly important during a firm's early development phases, and to make them more effective in managing and growing the start-up firm. They also provide the cornerstones for successfully launching and implementing entrepreneurial projects within already established organisations.
The purpose of this series of modules is to guide and assist students to think and act entrepreneurially; the modules will empower students to be entrepreneurial and innovative as they develop their own business ideas but at the same time focused on digital technologies which will function as enabler of their project ideas and business models.
While entrepreneurship can be as theoretical as any field of research, this module has a distinctly practical orientation (learning-by-doing) where students will learn through organising frameworks, analytical tools, and discussions around real-life cases that provide practical guidance in addressing and solving common problems and challenges in managing the start-up and growing a firm. The aim of the module is for students to demonstrate their ability to apply specific knowledge and skills to work in a team to develop a plan for a real-life innovative and disruptive new business venture in the context of digital economy.
This series of three modules (Innovative Project 1-2-3) is assessed through an interdisciplinary team assignment with guided individual participation for each student and by the end of the modules, participants will know how to pro-actively deal with some of the most common challenges involved in launching a new business venture. Students will develop skills and insights for evaluating, articulating, refining, and pitching a new product or service, either as a start-up business or a new initiative within an existing firm. These modules are appropriate for all students interested in innovation and design as necessary components of new businesses today.
Students will get a unique chance to understand what it takes and how it works to turn an idea into a real business, a chance to see up close and personal how a variety of different competencies and activities need to be covered for a successful business case.
These modules will not only give students a great career experience but will also help them in their personal growth. Since many digital roles today bridge ICT and entrepreneurship, students will be able to enjoy the best of both worlds. Moreover, they will be able to adopt a problem-solving attitude and realize that team work is what makes modern digital products and services today. We will stimulate teams to envisage new products and services powered by high tech; artificial intelligence, IoT, machine learning and other technologies.
Innovative project 3 – Go to market Strategies
The aim of the module is for student teams to finalise their innovative products/services. They will make their first attempts, facilitated by their teachers and mentors, at acquiring their first customers. Using the wide university’s ecosystem, they will be given guidance at building partnership networks needed for successful product launch.
Students will also learn what are the required steps in the process of intellectual property protection, as well as about the legal framework for regulation of team relations. They will be shown how the financing path of a startup looks like, what are pros and cons of bootstrapping as opposed to the bankrolling or VC investments.
Finally, with the help of professional communication experts, they will work on perfecting their final pitch. They will acquire the skills of an elevator pitch, pitch for investors, and wide-audience sales pitch. In the final step of the module, they will pitch their new products/services before a wide audience of investors, companies and business experts – their potential future partners, customers, but also employers.
1. Ries, E. (2011) Lean Startup. 1st edn. New York City: Crown Publishing.
1. Trott, P. (2016) Innovation Management and New Product Development. 6th edn. Edinburgh Gate: Pearson.
2. Christensen, C. (2016) The Innovator’s Dilemma. Kindle edn. Boston: Harvard Business Review.
3. Wunkler S, Wattman, J. and Farber, D. (2016) Jobs to be Done. Illustrated edn. Broadway: Amacom.
2. Kim C. (2015) Blue Ocean Strategy. Revised edn. Boston: Harvard Business Review.
Minimal learning outcomes
- Implement development plan in order to produce final digital product / service.
- Critically evaluate final solution in respect to initial market research and conceptual model.
- Implement effective intellectual property protection and regulation of team relations contract.
- Implement and design technical documentation for final solution using classical or agile development methodology and relevant standards.
- Successfully present innovative solution to market / investors and public in line with selected financing method.
Preferred learning outcomes
- Implement best practices approaches while implementing development plan and producing final digital product / service.
- Enhance final solution using best practices approaches to fit market research inputs and iterative piloting with users.
- Use best practices while implementing effective intellectual property protection and regulation of team relations contract.
- Use best practices approaches while implementing and design technical documentation for final solution, using classical or agile development methodology and relevant standards.
- Select financing and presentation approach to market / investors and public which would provide best results.