104324 - ENTREPRENEURSHIP AND INNOVATION

Subject type: Mandatory

Coordinator: Rafael Suarez Gómez

Trimester: Second term

Credits: 6

Impartició en català i materials en castellà. Presentations of the works of the subject in English are especially valued.

The subject of Entrepreneurship and Innovation, together with that of Economics and Business Administration, form a compact subject that aims to enable students to work in the current business environment characterized by a high competitive level, a strong innovation and a need for professionals with initiative and drive.

It is an eminently practical training subject that focuses on the central competencies of entrepreneurship / innovation according to what current research and practice in this field includes.

At the end the student must reach a good level in skills such as: i) alertness (ability to detect and identify opportunities), ii) creativity (ability to respond to opportunities in an original way) iii) initiative staff (ability to carry out the solution autonomously, measuring the risks needed to take action and mobilizing the resources needed to achieve this).

Entrepreneurial / innovative competence is essential in the training of higher graduate students in accordance with the current European University Framework (Entrecomp Framework / EU) and the one that regulates the MECES2 level (Ministry of Universities). In this sense, graduates are expected to have the initiative, creativity and autonomy to develop either from within an already established organization (as an intrapreneur) or by creating their own initiative (as entrepreneurs). conventional or as social entrepreneurs).

1 ECTS = 10 hours of guided learning + 15 hours of autonomous learning = 25 hours of dedication

Upon completion the student should be able to:

• RA1. Understand the challenges of entrepreneurship and know how to evaluate a personal entrepreneurship decision
• RA2. Understand the framework of innovation and innovation management in a company and in the sector
• RA3. Use standardized methodologies to carry out innovative activities, as an entrepreneur or as an agent of change in an already established organization. Use common tools in the sector
• RA4. Analyze problems / needs and detect opportunities for entrepreneurship / innovation and look for original solutions in a creative way.
• RA5. Design the business model of a project
• LO6. Validate entrepreneurship and innovation projects (prototyping and testing)
• RA7. Raise initiatives based on the financial economic planning of the entrepreneurship or innovation project
• RA8. Defend the entrepreneurship project in front of investment forums (StartUp) or internal investment committees (Intra entrepreneurship)

The methodology of the subject is Agile based on learning by project (or learning by action -Learning by Doing in English). In this sense, master classes and internship classes are combined, based on the theme of a real case (an entrepreneurship / innovation project) that the student develops throughout the course.  

It is a methodology that focuses on three main objectives:

1. Raise awareness on the relevance of entrepreneurship at the present time and in the future work sector of students. This is done based on attractive examples, case studies of the sector and the visit of entrepreneurs from the sector who explain their experience. The TecnoCampus business incubator is also visited.
2. Create a culture of entrepreneurship and innovation, ie to contribute to creating an entrepreneurial mentality for the economic and social progress of the environment. This is done by introducing the language of the subject, the basic concepts that help to understand the phenomenon and methodologies of work and contemporary theories.
3. Train in entrepreneurial and innovation skills, ie training students so that they can successfully tackle an entrepreneurship and innovation project, on their own or within the company where they work. The competence framework is crucial in this respect and the Entrecomp model of the European Commission is taken as a reference.

In order to work on the objectives at the methodological level, instruments such as:

• Master classes: Teachers explain the concepts in the classroom (or in non-face-to-face video conferencing simultaneously). During the class the participation of the student is looked for, opening subjects of discussion and sharing contents of reference (articles, videos, cases of the sector, the present time, ...).
• Business cases. Teachers propose entrepreneurial cases from the virtual campus to work in class. The case method is used in class so that a collaborative work is stimulated where the background topic is analyzed, as well as the alternatives and possibilities.
• Forums. Teachers open online or face-to-face forums based on questions about a controversial case or issue. Each student must contribute a minimum of 2 commented comments to the forum (an original and a replica to another classmate). The teacher moderates the discussion by introducing questions to the forum over 10 days.
• Methods. Skills training is basically developed from widely validated working methods in the current environment of entrepreneurship and real innovation. They are basically: Design Thinking, Lean StartUp and Effectuation.
• Tools. For the development of the practices, a collection of design tools standardized in the market and usually used in the company are used. The most relevant are: Context Mind Maps, Empathy Map, Opportunity Synthesis, Brainstorming, Business Model Canvas, Service Blueprint, Lean Canvas, Financial Roadmap or Pitch
• Platforms and software. Group work and digital skills are a fundamental pillar of the subject. For this reason the internships are in groups and use is made of collaborative work platforms (MIRO or MURAL). In addition to working with tools, students are invited to work from online tools and learning communities. In this sense you can use Figma, Nvivo, ConceptBoard, Forms, SurveyMonkey, DirectPoll, etc. In addition, a community of tools and uses is created within the e-campus, in order to share discoveries and encourage cooperative work.
• Group practical project: Throughout the course a project is developed that is at the same time the thread of the subject. To improve teamwork skills the project is done in groups (3-4 students). It starts from identifying a challenge in the sector, turning the challenge into a problem to be addressed in the form of an opportunity, looking for a solution and validating the solution. To carry out the work there are exclusive practice sessions where the teacher guides to improve the results to the maximum and reviews in order to evaluate each group in global and each member of the group in particular.

Block A: Fundamentals of entrepreneurship and innovation (40%)

Concepts in entrepreneurship and innovation. History. Research and state of the art in the field. Success stories in the sector. Incremental innovation and disruptive innovation. Open innovation. Cultural industries and creative industries (value chain) and market. Innovation management. Financing and investment in entrepreneurship. Seed capital and venture capital. Entrepreneurial skills. Creativity. Design Thinking. Person-centered design. Service Design. Agile methodologies. Lean StartUp. Tools in entrepreneurship and innovation. Entrepreneurial team. Motivation, attitude and talent in entrepreneurship and innovation. Eclectic team.

Block B: Design of the entrepreneurship and innovation project (60%)

In entrepreneurship and innovation, the main theme of the project is value creation. Value creation is based on the search for the problem-solution fit and the supply-demand fit. Based on this assumption, the entrepreneurial / innovative person is the one who turns a problem or need into demand (not covered, poorly solved or that can be solved better with new technologies or new knowledge).

To carry out an innovative project from the Agile philosophy, three phases can be differentiated: research (opportunity), ideation (solution) and validation / implementation (demand). In each phase, the entrepreneurial / innovation competencies of the curriculum are developed in a learning by action: in research the competence to identify opportunities, in ideation the competence of creativity and in validation the competence of the initiative / to move on to the action.

1. Research Phase (of the problem / need to identify the opportunity)

1.1. Starting challenge.

Concepts: Trends. Technologies. Environment. Value chain. Stakeholders Analysis

Methods: Data analysis. DAFO.PESTEL. 5 forces.

Tool: Mind map of the challenge

2.2. Research in problem area

Concept: Problem. Need.

Methods: Qualitative interview. Ethnography.

Development tool: Observation mural.

2.3. Definition and framework of opportunity

Concept: Empathy. Insight. Innovation.

Methods: Problem synthesis. Person.

Development tool: Synthesis map by empathy

2. Ideation Phase in E&I (of the opportunity identified in the solution from the ideation)

2.1. Value proposition

Concept: Value. Idea.

Methods: Brainstorming. Co-creation. Selection / evaluation of ideas

Development tool: Map of ideas

2.2. Business Idea

Concept: Business model. Business variables

Methods: Value generation.

Development tool: Canvas of business model

2.3. Unique offer of value

Concept: Customer experience. Minimum viable product.

Methods. Conceptual prototype. Functional prototype.

Development tool: Customer travel map (service blueprint)

3. Validation Phase in E&I (from the solution delimited in a first iteration to a competitive market offer and able to capture demand)

3.1. Customer generation

Concept: Customer Generation. Market. Scalability.

Methods: Lean Startup. MVP.

Development tool: Canvas validation

3.2. Financial roadmap.

Concepts. Income statement. Stock. Treasury. Investment

Methods: Metrics. Experiments. Economic and financial plan.

Development tool: Financial roadmap

3.3. Launch of the Initiative / demand

Concept: Seed capital. Investment forum. StartUp

Methods: Business case.

Development tool: Mind map of the pitch

Ordinary assessment is carried out by continuous assessment from the following scheme (all three groups of grades must be graded with a grade greater than or equal to 4 to be eligible to be graded in continuous assessment):

1. Individual work (A1, A2, A3, A4): 20%
2. Rubric of the Work of practices in group (A5 and A6): 40%
   1. Attendance at successful internships is mandatory. If the attendance is less than 70% it is considered not passed / not presented (without right to recovery)
   2. The active participation of each group member is required to be qualified. In this sense, the group practice note is modulated according to the personal development of each member of the group. If the individual grade is less than 4 it is considered not passed / not presented (no right of recovery)
3. Final Exam Grade: 40% (A1 to A6)
   1. It is necessary to demonstrate the understanding of both the theoretical and practical aspects (the exam includes contents worked on in both theory classes and practice classes).
   2. If the grade is less than 4 you must go to recovery, regardless of the average grade

Recovery is carried out when the exam mark is less than 4 and is done by exam in recovery period based on the following scheme:

• Students who want to be re-evaluated must attend (as long as they have passed the internships with a grade higher than 4)
• Maximum final grade in recovery is Approved (5)

Osterwalder, A., Pigneur, Y., In Clark, T., & Smith, A. (2010). Business model generation: A handbook for visionaries, game changers, and challengers.

Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to create radically successful businesses. New York: Crown Business.

Teodoro, Jaume. 2017. Collection of class notes 

Teodoro, Jaume. 2018. Collection of case studies (business cases) 

Blank, SG, & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif: K & S Ranch, Inc.