Spring 2018 – 497-117: Applied Entrepreneurship: Developing Skills that Propel the Startup

Meeting Days/Time
Mondays from 6:25 to 9:05 pm
Jessica Barnes (ID) (barnes@id.iit.edu) and Nicole Walker (Undergraduate Education/Innovation & Technology Incubation)
Appropriate Majors
All interested students are welcome
Business Innovation

Popular culture and the main stream awareness of entrepreneurs such as Bill Gates, Steve Jobs, Mark Zuckerberg, Elon Musk and Marc Andreesen have mythologized the role of the entrepreneur and how durable, scalable startups are built and evolve into high growth businesses. This gives budding entrepreneurs an unrealistic sense of what is required to build new ventures.

The goal of this project is to debunk common cultural beliefs about startup culture and how new businesses are created and provide a leadership and operational template for creating new business ventures in an applied, hands-on team-oriented learning environment.

Those participating will learn and participate in the activities that entrepreneurs must engage in when researching, defining and building new opportunities for market through an entire product and service development lifecycle. This includes learning about the standard resources, programs and critical research and publications that entrepreneurs rely on. Students will learn how to apply principals and methods towards developing their own startup ideas within a new venture team environment.

We envision that this IPRO class will attract a large and diverse group of students who can be organized in interdisciplinary venture teams. While not a requirement to join this IPRO class, students are encouraged to consider an established focus area that they are passionate about, and encourage other students they may know who share the same passion from different disciplines to enroll in the course as well. All students are welcome to join the class and have the opportunity to form or join a team with shared interests. Before the semester begins, or when class starts, instructors will work with students to identify suitable problem spaces and assist with forming teams.

This IPRO class will take an applied approach focused on hands-on team activities both in and outside of class during the 15-week span of the semester as highlighted below:

  1. Introductions, Group Formation, Problem Definition, Research
  2. Business Model Canvas
  3. Value Proposition Design
  4. Sprint-Map (Long Term Goal and Mapping)
  5. Sprint-Map (Ask the Experts & Targeting)
  6. Sprint-Sketch (Lighting Demos-Customer Feedback Planning)
  7. Sprint-Sketch (4 Step Sketching)
  8. Sprint-Decide (Sticky Decisions)
  9. Sprint-Decide (Storyboarding)
  10. Sprint-Prototype (Tools and Planning)
  11. Sprint-Prototype (Prototype Creation)
  12. Sprint-Research (Five Act Interview)
  13. Sprint-Research (Feedback and Prototype Refinement)
  14. Communications and Pitch Design
  15. Final Presentations.

The following publications will support student and team entrepreneurial growth toward our shared new venture development goals:

  1. Business Model Generation (https://strategyzer.com/books/business-model-generation)
  2. Value Proposition Design (https://strategyzer.com/books/value-proposition-design)
  3. Application of Google Ventures Sprint model (http://www.thesprintbook.com/)
  4. Hooked: How to Build Habit Forming Products (http://www.nirandfar.com/hooked)
  5. Get Backed (http://www.getbacked.com/).
Course Downloads:

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