After successfully completing this module, students will be able to:
- Appreciate the different ways of generating business on the basis of new technology for their future professional career
- Use business jargon that helps them understand and effectively communicate with business experts, such as investors, business consultants, market researchers, and accountants
- Apply pivotal, analytical models for conducting a field inquiry for the purpose of planning the commercialisation of a new technological idea
- Produce a well-structured plan and pitch to communicate their business ideas
- Understand the way venture stakeholders, such as investors and future employees, perceive their inventive ideas and business plan.
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| Module part |
Educational forms |
| Acceleration Programme |
Introduction program of 4 days in week 1 |
| Introduction to entrepreneurship |
Lectures and tutorials |
| Innovation management |
Lectures and tutorials |
| Financial management of innovative enterprises |
Lectures and tutorials |
| Lean Start-up project |
Business planning project |
The first week starts with an introductory Acceleration Programme that gives students an awareness of the dynamics of entrepreneurial business model development for 4 days. This is a quick way of making students aware of the knowledge they lack and need to master for operating in and communicating about business. It also introduces the concept of developing a technology-based start-up into a successful company. Participants interact in multidisciplinary teams in the Acceleration programme, following the structure of the UT Massive Open Online Course "Technology Entrepreneurship: How to Start a New Venture"
I2E, IM and FMIE are used to convey the theoretical knowledge students learn in the introductory business game. This knowledge is gained through lecturing, tutorials, within and between group discussion and prepares the students for the theory exam as well as for the project. In the tutorials a number of exam questions will be discussed as examples. At the end of the Acceleration week, the teachers of IM introduce the Innovation Scan, which will be applied to real life companies from the Twente Regio. These companies may also present a business idea for the students to work on during the project – although some groups may be allowed to further work on their business idea from the Acceleration Programme I2E and FMIE also have assignments related to the project.
The project is based on the Lean Start-up approach (by Eric Ries) and this method of building a business requires continuous testing and field research which produces intermediate products of technology adoption and market analysis as well as financial forecasting to be reported to the lecturing team. Teams are composed of students from the two different categories we produce as a university: engineering and social sciences. Participating students are supervised by coaches from the lecturing team in this module. They report to the supervisors in writing and receive feedback and report to fellow students from other teams by presenting their findings orally to facilitate mutual learning in the whole group.
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