104324 - ENTREPRENEURSHIP AND INNOVATION

Subject type: Mandatory

Coordinator: Maddalena Fedele

Trimester: Second term

Credits: 6

The subject introduces the student to the basic concepts of entrepreneurship and innovation. The importance of innovation as an essential component to be competitive in the current market is discussed and innovation is worked on in the entrepreneurial context. The essential elements of entrepreneurship are worked on: from market analysis and customer focus, the discovery of business opportunities, the generation of business ideas, the business model, feasibility and communication of the same The aim is for the student to have the skills to develop as an entrepreneur with their own company or as an intrapreneur in an already established company.

At the end the student should know:

1. Carry out a market study identifying opportunities and / or unmet needs.
2. Plan strategic decisions related to a business project, based on the correct diagnosis of the competitive environment
3. Stimulate and/or participate in idea generation sessions and evaluate their development possibilities.
4. Present, communicate and defend ideas of multidisciplinary working groups.
5. Design business rules framed within a specific business model.
6. Describe the general structure of a business plan and develop the most important parts.
7. Assess the interest and viability of an audiovisual and multimedia project by evaluating different resolution possibilities

The subject's methodology combines classes in the classroom, with activities and group work inside and outside the classroom. It is a methodology entirely based on "the case" (business case) so that the student discovers the concepts for himself in a Learning By Doing environment.

There are three classroom formats in the classroom:

• Master class (30 hours from the teacher to the class): the teacher explains the concepts in the classroom, with the support of transparencies, videos and other resources.
• Participatory classes and exercises (10 face-to-face hours with a teacher and 30 hours of individual dedication and tutorials): the teacher proposes activities in the classroom based on practical cases specific to the sector. These activities can be: readings of current articles, case studies, role-playing games, audiovisuals, exercises and oral presentations by students in the classroom.
• Practical group project in the classroom (20 hours in class and 20-30 hours in group outside of class): part of the classes will be devoted to the realization of the project by the students. In these cases, the student will have to do group work and the teacher will monitor their progress. Group work must be completed separately in personal dedication outside the classroom

In the environment of Innovation and Entrepreneurship there is a theoretical corpus that is also accompanied by specific methodologies including two Lean StartUp and Design Thinking. Both with different orientations and scope and that converge in the base of the model Business Model Canvas. To make the most of them, Design Thinking is used in a transversal way, adding a deepening in canvas and the use of LeanStartUp. This gives rise to our own methodology called "Lean Design Thinking" which makes the course in 3 blocks. With Design Thinking as the main theme throughout the course, there will be practical sessions based on custom-made tools. 

The content is structured in 3 blocks that follow a scheme of 1) Creativity / Innovation 2) Design / Generation of business model and 3) Development / Generation of clients.

Each block groups together a set of theoretical and practical sessions. The theoretical sessions have individual activities that are delivered by Virtual Campus. Practices are group activities. The method he follows is LEAN DESIGN THINKING which provides Design Thinking and Lean StartUp tools.

1. Comprehension test 

At the end of each subject, there is a 10-minute comprehension test to stimulate attendance and attention in class (RE1 to RE7)

2. Individual activities with Business Cases

Weekly and through the virtual campus, individual activities are planned based on practical cases specific to the sector. In general, the subject is taught through the case method as a Learning By Doing system where the student becomes the center of the learning process based on the case methodology (business case)

- Activity to study trends in the sector (RA1, RA2)

- Entrepreneurial case study activity in the sector (two cases) (RE3, RE4, RE5)

- Visit to the incubator (RA6)

- Role-playing activity with business video game (LA5, LA7)

- Economic and financial plan excel activity (RA7)

3. Entrepreneurial Project group practice (40%)

This activity is developed throughout the course in groups of 3 people. As the different concepts are seen in class, the student will have to integrate these concepts in his entrepreneurial project. The activity is done in groups. At the end of the course, all students have their real business case of a detected and analyzed business opportunity that they present publicly. The practices therefore follow the guiding thread of an entrepreneurial project that is specified based on the tools of the Lean Design Thinking method.

Tool 1: Team map (RA1, RA3)

Tool 2: Map of trends and identification of the challenge (RA2, RA3, RA4)

Tool 3: Empathy map and idea identification (LO4 LO3)

Tool 4: Canvas of the opportunity and the business model (RA5)

Tool 5: Financial Plan Canvas (RE7, RE8)

Tool 7: Elevator Pitch (RA8, RA3, RA4)

The evaluation of the subject is as follows:

• Exam: 40% Demonstrating the understanding of the theoretical and practical aspects (a minimum score of 5 is required to average with the other scores)
• Individual activities via virtual campus and tests: 20%. Delving deeper into concepts to achieve cutting-edge knowledge
• Practical work (in groups): 40%. Demonstrated ability to solve complex problems by applying creative and innovative ideas

Class attendance is mandatory. If a student has less than 75% attendance, the grade for class activities counts as a 0.

Each activity, as well as the partial practical work, must be submitted within the deadline set by the teacher (which will be published on ecampus). Activities delivered late will count as a maximum of 5.  

Recovery: 

• The recovery is only for the exam (40%) and it is not possible to recover the individual activities or the practice night.
• In order to average the mark of the recovery exam must be more gtran than 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.