Idea to Innovation (IZI)
6/7. Semester
5 ECTS | 4 SWS
Continuous Assessment (CA)
Turn ideas into real products in an interdisciplinary team: Develop business models, implement creative concepts, and present your results in a compelling way to inspire potential customers, partners, or investors.
Contents
- Innovation methods for generating and developing ideas
- Methods for evaluating commercial potential
- Customer development, customer understanding, and traction
- Business model development (based on the Lean Startup methodology)
- Market and competitive analysis (TAM/SAM/SOM, beachhead market, competitive diagrams)
- Financial planning and funding (cash flow, runway, break-even, unit economics with LTV and CAC,forms of financing)
- Marketing, sales, and go-to-market strategy
- Team building
- Pitch training
Competencies
Students are able to
- Identify the commercial potential of ideas, inventions, and research findings
- Understand the value of customer-centric product and service development
- Develop basic business models quickly and effectively
- Apply creative processes and innovation methods in a customer-centric manner
- Systematically test and refine ideas through multiple iterations
- Analyze market and competitive conditions in a structured manner and quantify one’s own market opportunity in a transparent way
- Create a simple financial plan for a startup venture and assess the unit economics of a business model
- to take a holistic approach to innovation projects
- to collaborate in interdisciplinary teams and organize projects
- to recognize the value of a positive culture of failure and implement it
- to convince customers, investors, and other stakeholders with a short presentation (pitch)
Literature
- S. Blank und B. Dorf, The Startup Owner’s Manual: The Step-by-Step Guide for Building a Great Company. Pescadero, CA, USA: K & S Ranch Publishing, 2012.
- R. Fitzpatrick, The Mom Test: How to Talk to Customers When Everyone Is Lying to You. CreateSpace, 2013.
- A. Maurya, Scaling Lean: Wie Start-ups wachsen, J. Fritz, Übers. München: Vahlen, 2018.
- A. Osterwalder und Y. Pigneur, Business Model Generation. Hoboken, NJ, USA: Wiley, 2010.
- A. Osterwalder, Y. Pigneur, G. Bernarda und A. Smith, Value Proposition Design. Hoboken, NJ, USA: Wiley, 2014.
- E. Ries, The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York, NY, USA: Crown Business, 2011.
Lecturer
Recommended Previous Knowledge
-
Completion of the first two semesters is recommended
Module Details
| Semester |
6/7 |
| Lecture Language |
German |
|
Frequency
|
Every Term
|
| Credit Points (ECTS)
|
5 |
| Course Coordinator |
Prof. Dr. Oliver Hummel |
| Duration |
1 Semester |
|
Course Achievement
|
None |
|
Prerequisite for exam
|
None |
|
Exam
|
Continuous Assessment (CA) |
Weekly Hours (SWS)
| Lecture |
2 SWS |
| Project |
2 SWS |
| Sum |
4 SWS |
Work Load
| Lecture |
30 h |
| Self Study |
90 h |
| Project |
30 h |
| Sum |
150 h |
