Entrprnr for Innovtn: Start Co

Catalog description

Entrepreneurship for Innovation: Starting a Company (3) Becoming an entrepreneur aligns every aspect of business from strategy to product development, marketing, finance, accounting, and sales. Startups learn that success means beginning with identifying services or products that are desirable to customers, feasible, and financially viable. In this experiential learning course, students apply business model techniques to simulate an actual startup business. Student teams use technologies provided by federal laboratories or their own business startup ideas to define a product for a commercial market. Students interview potential customers, identify specific user problems and needs, create and test rapid prototypes, analyze and select distribution channels and define and test pricing. Students then determine key internal resources and activities, specify strategic partners and build simple financial forecasts before presenting their comprehensive business model at the end of the semester. Prerequisite: junior standing or MGMT-380.