MAA02 & MRAC02 22/23 Business Innovation

Credits: Midjourney.com

Syllabus

In an ever-changing world, where the speed of innovation and the amount of external forces and drives is constantly growing, the capability to quickly evaluate opportunities and innovate is paramount for the creation of successful businesses. 

The Business Innovation Seminar is designed to provide students from architecture and design backgrounds the key understanding of what makes a project a viable business idea, how to analyze markets and industries, how to validate ideas early on and how to iterate and innovate on business models to build the basis for an economically sustainable venture. Based on the Lean Methodology and mixing together theory, real-life examples, practical exercises and 1-1 feedback, it gives students a toolbox and a mental mindset to approach opportunities during their professional careers as well as the foundations to set up a business. 

All the content will be directly applied by students on a final Venture Starting Package, that will be presented during a final pitch.

Learning Objectives

The aim of the seminar is to provide students with the tools to understand and evaluate business opportunities based on their own research projects. It provides a framework to analyze ideas, tools and references to understand the market and guidelines on how to understand whether a venture can be successfully created. The core competencies are complemented with an introduction to business model innovation and practical exercises. 

Specific Objectives

• Learn how to evaluate business opportunities 
• Understand and apply the concept of Product Market Fit 
• Understand and apply the concept of Unit Economics 
• Recognize the core elements of a successful venture 
• Develop and Iterate on a Business Model for a specific idea 

Keywords

Business Model, Business Model Innovation, Lean Startup, Product Market Fit, Unit Economics, Business Angels, Venture Capital.