Unit information: Innovation and Entrepreneurship Summer Programme in 2019/20

Unit name	Innovation and Entrepreneurship Summer Programme
Unit code	INOV10003
Credit points	10
Level of study	C/4
Teaching block(s)	Academic Year (weeks 1 - 52)
Unit director	Ms. Cole
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	Centre for Innovation
Faculty	Faculty of Arts

Description including Unit Aims

The world of work is changing rapidly; new products and services are creating not only new companies but new ways of working. Small companies are disrupting established businesses and permanent jobs in many sectors are being discarded in favour of flexible contractors and freelancers. Even established old companies are furiously trying to innovate new products, services, and markets to keep up and avoid being disrupted out of business.

To succeed in this emerging economy, you’ll need to not only be innovative but also be enterprising and entrepreneurial in your behaviour to spot and seize opportunities for yourself and for the companies you’ll work for. Entrepreneurial thinking is not just the preserve of Silicon Valley, it’s a way of searching for and executing on business ideas that is relevant to anyone trying to create value for themselves and others. The aim of this unit is to develop your understanding, abilities and skills which are essential to setting up or being part of an entrepreneurial venture.

You will work in a team to come up with an innovative idea and develop a business plan and presentation. We’re also interested in how your idea developed; through the reflective assessment you will reflect on the process through which your team, idea and business plan developed and what you have learnt over the course.

The broadest view of entrepreneurship is taken in this unit - the entrepreneurial venture could take one of several forms, for example:

• A commercial start-up company which is solely economic growth/profit oriented
• An initiative concerned with social entrepreneurship or a not-for-profit enterprise which combines economic sustainability with some form of social impact

Lectures and workshops will cover examples and latest thinking in several areas related to entrepreneurship. However, groups will be expected to identify and engage with a wider range of material, both of an academic and business nature, as required by their particular venture. The unit is delivered in an activity-driven, problem-solving way. Students will be asked to collaborate in class and in their assignments, working together to change ideas into possible solutions and future potential businesses. The unit also includes many practical components on local entrepreneurship complemented by industry engagement sessions, aimed at empowering students to engage directly with companies and industries in a way that reflects the theories and contexts learnt in class.

Intended Learning Outcomes

On successful completion of this unit, students will be able to:

1. Apply theory, tools, techniques and skills to develop a robust enterprise plan,
2. Apply and evaluate business models and environments facing an enterprise,
3. Reflect critically on their own entrepreneurial experience creating an enterprise,
4. Examine key concepts and practice using design systems thinking,
5. Apply strategic thinking to create a sustainable and successful enterprise,
6. Work collaboratively and in a team to develop ideas,
7. Research ideas and concepts with and for potential customers,
8. Build a fully costed and considered business proposal and plan,
9. Prepare a high-level, investor-ready presentation,
10. Pitch their proposals to potential clients and investors.

Teaching Information

Interactive workshops with focused teaching from key staff to deliver the key concepts. Students work in pairs and groups on specific tasks to produce a business idea and deliver a pitch to potential investors. The programme mixes skills and knowledge and also includes visits to key local innovative businesses.

Assessment Information

Individual Reflective Assessment (40%) [ILOs 1, 3-5]

Group Business Plan (30%) [ILOs 1-2, 4-8]

Group Presentation Pitch (30%) [ILOs 7-10]

Reading and References

• The lean startup: how constant innovation to creates radically successful businesses - Eric Ries, 2011
• Value proposition design - Alexander Osterwalder, Yves Pigneur, Gregory Bernarda, Alan Smith, 2014
• Business model generation: a handbook for visionaries, game changers, and challengers - Alexander Osterwalder, Yves Pigneur, dawsonera, 2010