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IEMS 325: Engineering Entrepreneurship


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Prerequisites

IEMS 326 or BUS_INST 260

Description

Overview of the entrepreneurial process from an engineering perspective. Idea generation, planning, financing, marketing, protecting staffing, leading, growing, and harvesting. Students write start up business plan. Lectures, guest speakers, and case studies.

  • This course is an MS elective for Industrial Engineering.
  • Students may not receive credit for both IEMS 325 and ENTREP 325

LEARNING OBJECTIVES

  • Learn how to identify a meaningful problem worth solving
  • Develop an effective solution to this problem
  • Learn frameworks to acertain problem/solution and product market fit
  • Understand benefit of creating a Minnimal Viable Product and testing in market
  • Develop testing approaches to ascertain how to build a sustainable, repeatable business
  • Learn techniques to effectively story tell and pitch your business to a variety of audiences

 TOPICS

  • Problem Vetting
  • Jobs Theory
  • Benefits vs Features
  • Solution Hacking
  • Startup Accounting
  • Financial Modeling
  • Business Model Testing and Formalization

MATERIALS

● Competing Against Luck by Clayton M. Christensen

● Running Lean: Iterate from Plan A to a Plan That Works by Ash Maurya

● Rework by Jason Fried and David Heinemeier Hansson

ADDITIONAL INFORMATION

This course is designed to expose students to all aspects of the business development process from ideation to the creation, financing and running a business. The best way to learn entrepreneurship is to do it. If you have an idea, make it real. The class project will consist of  identifying a meaningful problem to solve, conducting problem interviews, and putting together a business model/plan for your prototyped solution in small groups