Innovation-driven Entrepreneurship and Experimental Innovation

When change becomes a constant, economic growth requires competitive leadership in the global business environment. This course reflects on the different business orientations and shows the relevance of innovation-oriented companies to drive the economy. The course distinguishes between types of entrepreneurial activity and highlights the advantages of innovation-driven entrepreneurship in terms of its potential to be transformative. It shows the importance of experimentation to succeed in dynamic sectors by embracing learning processes and strategies.

During the course, the participants can reflect on the way the company they work on, or aspire to work on, approaches its strategies for success and to experiment with alternative approaches.

The course outline is presented below:

Innovation as a driver of competitive success

• The key role of innovation for economic growth.
• Types of innovations.
• Sources of innovation. Where do the ideas come from?
• Risk vs. uncertainty
• Types of entrepreneurship. Innovation-driven entrepreneurship.

The role of experimentation for innovation

• The innovation process. Risks and potential benefits to be assessed.
• Decisions to be taken. How to minimize the risks?
• The Lean Startup methodology. The relevance of experimentation for innovation
• Reaching the market: chances of success

Learning outcomes:

Upon successful completion of the course, participants will be able to:

• Understand the importance of innovation and entrepreneurship.
• Distinguish between different business orientations, advantages and disadvantages.
• Comprehend the potential of innovation-driven entrepreneurship: exploration+recombination.
• To know the role of experimentation for innovation-driven entrepreneurship.
• To understand the principles of Lean Startup.