INNO3001A From Innovation to Impact: Creating a Roadmap from Opportunity to Action

2020

4.5

1 x 3-hour workshop weekly

INNO9015 has been successfully completed

None

Core topic

Whether interested in launching new ventures or transforming existing businesses, `From Innovation to Impact` develops students' capacity to go beyond “thinking big” to "making an impact". This topic examines two key factors in moving innovations towards market and user adoption: 1) an agile, "go-to-market" strategy 2) a scalable, repeatable business model. Students will consider how market and industry landscapes and value chains impact routes to markets and go-to-market strategies. Using the business model canvas methodology, students will learn to evaluate which business model best fits a particular opportunity and/or enterprise. Working on an existing opportunity, either the student's own or that of an orgnisation, students will explore the cutting-edge concepts, skills, know-how, attitudes and innovative alternatives relevant for designing a successful business model and go-to-market strategy for a new venture or early-stage innovation project.

This topic aims to develop students' propensity to act as informed decision makers and engage in agile business planning. It helps students understand how, and based on which criteria, entrepreneurs, corporate intrapreneurs and innovators make business model decisions in rapidly changing environments. It introduces students to the range of pathways and options available for commercialisation of new products, services and initiatives. Students will consider how to align commercialisation roadmaps and business models in order to maximise market impact. Application driven, with students working individually and in project teams, the topic will combine theoretical principles with practical steps to shepherd each student’s innovation idea from concept to full definition. Throughout this process, students will develop their capacity to make evidence-based decisions and to plan strategically and with agility.

On successful completion of this topic students should be able to:

• Understand the fundamentals of business model innovation and go-to-market strategies with the potential to disrupt markets
• Consider the multiple pathways available for commercialisation of innovative products and services
• Explain how business models work in different types of organisations - i.e. established firms, governments, NGOs, and startups
• Understand creative and analytic tools for identifying, evaluating and selecting an appropriate business model and practice applying to proposed venture
• Gain experience developing plausible resource- and financial projections
• Gain experience developing pathways for go-to-market strategies
• Present a compelling business case for commercialisation