INNO3002 Going Live. Entrepreneurial Strategies, Resources & Activities

There is constant debate about the value of ideas versus execution when it comes to successful innovation and entrepreneurship. On the one hand, ideas, are everywhere. Few corporate innovation programs bemoan a lack of ideas and investors get pitched hundreds of new ideas per year by disruptive start-ups. On the other hand, only a small proportion of ideas are ever successfully launched in the marketplace and the statistics for innovation and start-up failure rates are eyewatering. Great ideas need great execution but even great execution cannot make a success out of a bad idea. The reality is that new ventures need to combine great ideas with a relentless bias-to-action, a market-fitted strategy and the ability to assemble and mobilise the financial and human resources needed to launch and grow successfully. This challenge-led topic develops students' capacity to "think creatively" and "act entrepreneurially", whilst they practice bringing an opportunity to life, from ideation through to launch.

This highly experiential, capstone topic is designed to bring students' learning and knowledge to life, as they explore the balance between ideation and execution. The central focus of the topic is on two key success factors: the ability to generate high-potential opportunities and the ability to convert such opportunities into new value and growth. In a real-world setting, this topic develops students' ability to draw on contemporary innovation and entrepreneurship tools and practices to assess the commercial potential of an idea, generate a go-to-market roadmap and launch strategy and consider the resources, support and team required to launch a new venture.

1. Define aspects of the corporate innovation pipeline in a range of contexts
2. Define aspects of the new venture creation process, both from the start-up and corporate intrapreneurship perspectives
3. Select and apply relevant innovation and entrepreneurial tools to generate, evaluate and evolve opportunities with strong commercial potential
4. Understand the factors impacting growth of a new venture and how to configure them for success
5. Understand how to identify and reduce potential risks by piloting and pivoting ideas and new ventures
6. Develop a go-to-market/launch strategy
7. Understand the resource and capability requirements of new ventures and how to structure ventures to human and technological strength factors
8. Develop a compelling pitch to generate buy-in and lobby for resources and investment