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|STRT 582 - Lean Startup Principles|
Lean Startup Principles focuses on the very first step toward launching a new venture. Students follow the “lean startup” approach to mapping out and validating the concept, and gathering the data needed to establish whether the concept is feasible, i.e., is there a market, and is it financially sustainable? Students also learn how to pitch the concept and business model to prospective investors and partners. The course combines short lectures, guest speakers, student presentation and fieldwork, culminating in a final investor presentation to a panel of judges. Students form teams around business concepts presented by their peers, and then develop those ideas into a viable new business opportunity. In the first half of the course, students build and test the business model using the Business Model Canvas framework. During the second half, students create a Minimum Viable Product and prepare the investor pitch. Throughout the course, students are encouraged to engage in lively discussions of their concepts and to support/critique the concepts of fellow students. This course is intended for students who want to understand the fundamentals of new venture creation – with a view to launching their own venture either now or at some future point. For students who have also taken Startup Factory, this is an ideal opportunity to develop their initial idea into a launch-ready concept. However, Startup Factory is not a prerequisite, and students who have not taken Startup Factory will still have the chance to practice the basic customer discovery techniques. Lean Startup Principles is also recommended for students who would like to better understand what it is like to work within a startup environment, or would like to understand how these principles are applied within a corporate setting to foster innovation and identify new business opportunities. It is also beneficial for students interested in venture finance who would like to know how to better evaluate business opportunities.
1.500 Credit hours
1.500 Lecture hours
Levels: MN or MC Graduate
Schedule Types: Lecture
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