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Welcome to Spring Semester 2013
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Developing Innovative Ideas for New Companies
Dr. James V. Green
Explore how to identify and develop great ideas into great companies. Learn how to identify opportunities based on real customer needs. Develop solid business models. Create successful companies.
About the Course
This course assists aspiring entrepreneurs in developing great ideas into great companies. With strong economies presenting rich opportunities for new venture creation, and challenging economic times presenting the necessity for many to make their own job, the need to develop the skills to develop and act on innovative business opportunities is ever present.
Using proven content, methods, and models for new venture opportunity assessment and analysis, students will learn two key skills: (1) how to use a business model approach to analyze each part of a company, and (2) a customer development orientation to see if anyone really wants the product. Value propositions, customer segments, strategic alliances, and business modeling are core elements taught in the course. The initial steps to creating a business plan, and raising financial capital to launch the firm, are examined as well. Our goal is to demystify the startup process, and to help you build the skills to identify and act on innovative opportunities now, and in the future.
About the Instructor(s)
Dr. James V. Green leads the education activities of Ma
ryland Technology Enterprise Institute (Mtech) as the Director of Entrepreneurship Education with responsibilities for designing and teaching undergraduate and graduate courses in entrepreneurship and technology commercialization, leading seed funding programs and select business plan competitions, and managing residential entrepreneurship programs for students. In 2011, he earned first prize in the 3E Learning Innovative Entrepreneurship Education Competition presented at the United States Association for Small Business and Entrepreneurship (USASBE) annual conference to recognize college educators who have created new and challenging learning activities that actively involve students in the entrepreneurial experience.
ryland Technology Enterprise Institute (Mtech) as the Director of Entrepreneurship Education with responsibilities for designing and teaching undergraduate and graduate courses in entrepreneurship and technology commercialization, leading seed funding programs and select business plan competitions, and managing residential entrepreneurship programs for students. In 2011, he earned first prize in the 3E Learning Innovative Entrepreneurship Education Competition presented at the United States Association for Small Business and Entrepreneurship (USASBE) annual conference to recognize college educators who have created new and challenging learning activities that actively involve students in the entrepreneurial experience.
Prior to the University of Maryland, Dr. Green held founder, executive, and operational roles with multiple startups to include WaveCrest Laboratories (an innovator in next-generation electric and hybrid-electric propulsion and drive systems), Cyveillance (a software startup and world leader in cyber intelligence and intelligence-led security), and NetMentors.Org (the first national online career development eMentoring community). Dr. Green earned a Doctor of Management and an MS in Technology Management from the University of Maryland University College, an MBA from the University of Michigan, and a BS in Industrial Engineering from the Georgia Institute of Technology.
Course Syllabus
Week One:
- Welcome and overview
- Entrepreneurial mindset
- Entrepreneurs and strategic decisions
- Psychology of entrepreneurs
- Entrepreneurial decision-makers and the use of biases and heuristics
- Risk taking in entrepreneurial decision-making
Week Two:
- Exploring real market needs
- Satisfying real market needs
- Macro changes that increase new venture opportunities
- Assessing entrepreneurial opportunities
Week Three:
- Environmental assessment of entrepreneurial ventures
- Selecting the right industry
- Types of innovations
- Understanding customer adoption
- Strategic planning
Week Four:
- The business model canvas
- Patterns of business model generation
- Designing business models
- Strategies for business model generation
- Process for business model design
Week Five:
- Developing the business plan
- Market research and positioning
- Marketing and sales
- Intellectual property
- Legal structures
- Licensing
Week Six:
- Keys to raising financial capital
- Building financial statements
- Sources of financial capital
- Managing entrepreneurial growth
- Final thoughts
Recommended Background
This introductory course is designed for those interested in learning about innovative idea generation and new venture creation, and does not require a background in business or any specific area. A desire to build your knowledge and capabilities are the only requirements for entry.
Suggested Readings
Although the class is designed to be self-contained, students wanting to expand their knowledge beyond what we can cover in this class can find further coverage of these topics in the recommend readings, to include “Business Model Generation” by Alexander Osterwalder and Yves Pigneur, and “Finding Fertile Ground” by Scott Shane.
Course Format
The class will consist of a series of video lectures each week, which are between 8 and 12 minutes in length. These contain 1 to 2 integrated quiz questions per video. There will also be standalone assignments and a final exam to apply learning and reinforce key methods and models.
FAQ
What is the coolest thing I'll learn if I take this class?
You’ll learn how to identify new venture opportunities and take the first steps to launching an innovative company.
Can I really do this course if I don’t know anything about business?
Yes! We expect this course to be taken by people completely new to our topics, and have designed the content in that way.
Is there a textbook?
No. This online course is self-contained.
What about timing? Can I take this self-paced?
Yes, to an extent. Within any week of the course, you can view the recorded video lectures and online material whenever you have time available, regardless of your time zone. We will, however, connect the class on a common weekly schedule with regular due dates for all assessments. In our experience, this also assists students in managing the overall workload and successfully completing the course (rather than cramming at the end of the course). We expect that you will be committed to the course each week as you would for any other college class.
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