EIP: Week One

This material covered in the first week focuses on the fundamentals of entrepreneurship and innovation, and puts particular emphasis on the concepts of building economically sustainable organisations through value creation. It introduces Innovation-Driven Enterprise entrepreneurship, which targets regional or global markets, requires significant investment, and is often technology-driven as the type of entrepreneurship the course focuses on.

Entrepreneurship is presented as a craft requiring discipline, commitment, and practice, and we introduce the 24 steps described in Bill Aulet’s "Disciplined Entrepreneurship" framework needed to develop a minimum viable business proposition (MVBP). 

Much of the week is spent on an extended ideation process within the student project teams, which involves thinking about market pull and technology push strategies, and how to balance technological enthusiasm with customer focus. Students are encouraged to brainstorm using an improvisational mindset to separate idea generation from testing.

At the end of this week teams will ideally have identified a promising business idea after employing structured canvases for initial idea capture, and focusing on novelty, market demand, and the feasibility of technical solutions. Work on refining these canvases will continue through out the course, ultimately leading to the final presentation where a convincing business proposition must be offered. 

This week will also include a guest lecture on Makerspace, which offers a range of manufacturing equipment available for student use (3D printers, laser cutters, etc), and which project teams who are developing product ideas that involve physical artefacts may want to use.