IMPORTANT: This lecture is only for students assigned to the supplementary curriculum "Extended Study on Innovation" offered by the Innovation Incubation Center (i²c)! For further information, please visit http://i2c.tuwien.ac.at/home/are-you-a-student/how-to-apply/
***Content decription***
Innovation Project 1+2 - General Content:
The "Innovation Project" of the extended study on innovation will focus on implementing the lessons learned within the other lectures. Students of the curriculum will work on a concrete innovation project in order to consolidate and strengthen the innovation knowledge in a real innovation case. The lecture starts in winter semester with "Innovation Project 1" and concludes in summer semester with "Innovation Project 2".
The following topics will be covered:
- Customer exploration, problem validation, solution, value proposition
- Design Thinking
- Competition & Market Analysis
- Lean Canvas Model
- Rapid Prototyping
- Branding
- Pitching
- Slide Deck Writing and Storytelling
- Milestone-presentations: First Milestone (Problem, Solution, Problem-Solution-Fit, First Prototype, Competition and Market Analysis, Business Model, Finance Plan), Go-to-Market Strategy, extended pitch deck, 3-min.-pitch
- Demo Day (final pitch)
Innovation Project 1+2 – Format of Course:
The course consists of input- and mentoring-sessions as well as milestone-presentations:
- In the input- and mentoring-sessions on specific topics, experienced mentors support the students in implementing the theory learned in their individual innovative projects. The input- and mentoring-sessions will cover the topics Design Thinking, Lean Canvas, Rapid Prototyping, Competition and Market Analysis, Branding, Pitching and Slidedeck Writing & Storytelling.
- In the milestone-presentations, students will present specified aspects of their project to the others and some mentors, who will offer feedback and help them to improve and adapt with asking critical questions. The milestone-presentations will include the first idea, business model based on lean canvas methodology, competition and market analysis, marketing-, sales- and PR-strategy, finance plan & financing strategy, first prototypes, extended pitch deck and a 3-min-pitch deck.
The Extended Study on Innovation will conclude with the Diploma Demo Day, where the students pitch their innovation projects to a jury of potential investors and the best projects will be awarded with special prizes (e.g. the acceptation into the TUW i2ncubator program or a place in the co-working space Founder Space).
Innovation Project 1 – Detailed Content
- Idea Presentation and Discussion
- Design Thinking Workshop
- Competition & Market Analysis Workshop
- Lean Canvas Workshop
- Branding Workshop
- Rapid Prototyping Workshop
- Pitching
- 1st Milestone-presentation + feedback: Problem, Solution, Validation, Prototype, Business Model, Competition & Market Analysis, Finance Plan
1. Idea Presentation & Discussion (various lecturers & mentors)
Every student who has an innovative idea in mind, is invited to present it to the others. Ideas will be discussed and the first steps for building project teams will be made.
2. Design Thinking Workshop (lecturers: Stefan Kreppel, Tom Peruzzi)
Schedule:
- Design Thinking in a Nutshell
- The Rules of Design Thinking
- Presentation of the problem statements of the student teams
- Selection of the top problems à Teams to work on during this workshop
- DT loops for the ideas incl. prototyping and testing
- Presentation of the best ideas
Pre-Preparation:
- 1-2 Slides as a Problem statement based on the first developed ideas
Learnings and Takeaways:
- Basic understanding of Design Thinking
- Collecting feedback for projects
- Gathering new ideas to further develop
Next Steps:
- Reshaping of the ideas and idea description
- Competition & Market Analysis WS
- Lean Canvas WS
3. Competition & Market Analysis Workshop (lecturers: Florian Glatt-Wodzynski, Max Ditzel
Competition & Market Analysis Workshop (lecturers: Florian Glatt-Wodzynski, Max Ditzel)
One company deals with its clients. All companies dealing with their clients form markets. In this course you will learn what the parameters for the market you operate in look like, as well as the perimeters. In our session we will provide theoretical inputs and hands-on tools for you. After having participated in the course you will be able to understand the market you will be operating in, you will know who your competitors are and how you identify them quickly.
“General Understanding Market & Competitor Analysis”
- Task and Working Sprint Customer and Value Proposition
- Define Customer Segments and Position your company
- Tool: working with hypotheses
- Quick feedback round from lecturers
“Competitive Analysis”
- Task and quick input session: what does your market look like – competition-side
- Tool: which channels do your competitors use and why?
- Quick feedback round from lecturers
“Mini-market Session”: Market Analysis
- What does your market look like – client-side
- Task and Working Sprint Market Analysis
- Quick feedback round from lecturer
Comp Adv 2021 Session 2
- Discussion of Home Assignment: analysis of passed on analyses.
- Deep dive “Job to be done”
- Deep dive “Features vs Benefits”
- Recap “Value Proposition/Unfair Advantage”
- Lessons learned and group feedback
4. Lean Canvas Workshop (lecturers: Alexandra Negoescu, Tom Peruzzi)
This lecture introduces students to a disciplined and rigorous way of vetting new ideas while at the same time tackling both product and market validation through short iterations.
Content:
- Systematically apply the Lean Methodology
- Get from a good idea to a validated business
- Build and measure what customers want
- Identify the riskiest parts of their plan
- Systematically test their plan
- Frame growth opportunities
- Define a minimum viable product
- Draft an initial business model and USP
Working Session:
- Develop lean canvas model for own project
- Conduct structured interviews
Prerequisites:
- Market and Competition Analysis Workshop
5. Branding Workshop (lecturer: Florian Hämmerle)
Branding is a passive form of communication for a brand. Meaning to display a product idea for e.g. on a website, in a flyer or on social media. The branding prototype is a communication concept for the innovative idea.
Part 1: Brand Positioning & Storytelling
- terminology: what is a brand?
- methodology: archetypal branding (based on c.g. jung, m. mark, c. pearson)
- a short overview, how archetypes influence the tonality of communication
- case story
- terminology: what is a story?
- methodology: heroes journey based on joseph campbell / christopher vogler
- hands on: definition of an (simplified) persona as a hero, beginning of a heroes journey
Working Session:
- Open discussions
Part 2: Brand Prototype
- how to use the findings of part 1
- terminology: mockups, wireframes
- methodology: using mindmaps and mental models to plan the goals of your website / channels
- methodology: deducting a sitemap and content map
- methodology: creating wireframes to plan communication
- what is a good logo? how to chose the right colours, developing a pictorial language, means of information design
- case story
Working Session:
- Open discussion
Prerequisties:
- Knowledge about how to define personas from Marketing & Sales, Design Thinking
- Evaluated channels from Lean Canvas Workshop
6. Rapid Prototyping Workshop (lecturers: Thomas Schranz, Alex Pinter)
CLASS CONTENT:
Many people have great ideas but seldom act on them. This class centers around rapid prototyping. Rapid prototyping in entrepreneurship is about “de-risking” all aspects of a potential product or service internally (feasibility) as well as externally (credibility).
Prototyping is both an art and a science and is intertwined with many aspects of entrepreneurship like team, product management, feasibility, go-to-market, user testing, hiring as well as fundraising to name just a few. This course is about current best practices in rapid prototyping and covers both an overview on rapid prototyping as well as hands-on prototype creation with the outcome of a working prototype within just a few hours.
It integrates best practices from Lean Startup (especially around minimum viable product (MVP)) and current tools for rapid prototyping.
CLASS OBJECTIVES:
The primary objectives of the course are to enable you to:
● Transcend from “I have a great idea” to “I have a great and growing product that has real customers”
● Gain a solid understanding of rapid prototyping concepts and skills.
● Appreciate how important effective prototyping is (and how interesting and fun it can be).
● Apply prototyping skills to diverse products, services, and situations.
● Understand how prototyping relates to credibility, social proof and traction.
● Understand how prototyping relates to “de-risking”
To realize these objectives, students will become familiar with the latest prototyping tools. This course will equip you with the tools and insights to quickly test your ideas, gaining feedback and traction. It teaches you how to get from an idea to a working prototype within a couple of hours.
By the end of the course, students will be familiar with a robust product development toolkit and will have gained a strong understanding of how to measure the market potential from a vast array of business opportunities and options. The course’s main outcome is a working prototype, but more importantly, it will result in the experience of how to create a prototype within a very short time-frame. This will ultimately become a key skill for your future endeavours.
OVERVIEW OF CLASS TOPICS:
Topics covered include hardware prototyping (+ tools), software prototyping (+ tools), minimum viable product (MVP), minimum lovable product (MLP), customer development, go-to-market approach, strategic positioning and execution focused on rapid prototyping and how it relates to entrepreneurship, pitching and credibility.
TEACHING STYLE:
We greatly enjoy doing, teaching, and continually learning about (early) prototyping and make each class as lively, interactive and hands-on as possible. Feel free to ask questions at any time. We love to discuss and reflect on things.
As serial entrepreneurs, each of us has over twelve years of experience developing startups - in Europe as well as in Silicon Valley. Hence, the course is designed to be very practical so that students can apply what they learn in class to a wide variety of products and services. We will use case studies to guarantee effective learning (if required).
Pre-Preparation:
- Send the outcome of Lean Model Canvas workshop to lecturers.
7. Pitching (lecturer: Daniel Cronin)
What makes a pitch a ‘perfect’ pitch. Get to know the success factors of a great pitch. Get insights about how to implement a captive story in your pitch. Learn the techniques from the ‘Pitch-Professor’ himself.
Part 1: Introduction & Project Oneliner
- Essentials of a pitch
- Storytelling technique and relevant parts for a pitch
- Feedback for innovation project one-liner
- Elements of a pitch
Preparation:
- Submit one-liner and short description of innovation project
Part 2: 1-1 Pitch Training Session
- Present your pitch
- Get individual feedback
8. 1st Milestone Presentation:
At the end of the first semester, you will present the current status of your project in the first milestone presentation in front of your colleagues and a jury of mentors, who will both offer feedback.
Presentation Topics: Problem, Solution, Problem-Solution-Fit, First Prototype, Competition and Market Analysis, Business Model, Finance Plan
***Lecturers & Mentors***
Thomas Peruzzi founded aicooma in Austria, Switzerland and Germany and built it from scratch till earn-out in 2012. He then rejoined University in York for a second Master Study and took over several interims C*O positions in digital startups like laterpay or gigaset elements. Beside that he angel-invested in digital startups like getwiser, spireglobal, adespresso and advised emerging startups with his strong product and Technology background. He is boardmember of Crate and Advisory Board member of admoment, meinkauf, laterpay, refz.co and roq.ad. Thomas lectures Innovation Management and Technology Leadership and is a respected speaker for European Corporates with regards to lean product management and how to avoid the innovator's dilemma. International VCs and corporate ventures trust his view on technology during due diligence processes.
Stefan Kreppel is one of the leading start-up experts in Austria. He is Head of Open Innovation at Palfinger 21st. Before that he worked as the start-up representative of the Austrian Research Promotion Agency (FFG) and was responsible for the start-up related funding and financing schemes within this organisation. He also works as a speaker and juror in the start-up area with a focus on sustainable innovation and entrepreneurship in general. Furthermore, Kreppel is mentor and coach off several Austrian start-ups and serves as a facilitator for the Austrian community. As an inventor and innovator he holds several out licensed international patents, developed several graphic designs and is highly influenced by design and open innovation approaches. Stefan has a lot of experience in the field of investment and funds due to his past position as a manager of Raiffeisen Mezzanin Partners, a mezzanine funds with 60 million under management. Prior he managed the first Austrian business angel network i2 with over 100 business angels as members. Kreppel obtains an environmental engineering degree from the University of Natural Resources and Life Sciences in Vienna and holds a Master's degree from the Danube University Krems and the CWRU Cleveland.
Max Ditzel is partner of WhatAVenture. Through his track record of designing and implementing innovation strategies at over 20 different companies as well as guiding more than 200 innovation projects. His passion of challenging the status quo is a continuous driver for the involvement of his surroundings. Max is an expert in setting up and supporting acceleration and incubation programs. He guided more than 750 startups and 250 corporate innovation teams. His activities are mainly focusing on intrapreneurship, synergies between corporates and startups as well as open innovation around technologies. Furthermore, Max is an experienced mentor and speaker for innovation and startup initiatives such as Startup Live, Pioneers of the Balkans, Founder Institute, Pioneers Festival as well as lecturer for the diploma Innovationmanagement at BFI.
Florian Glatt-Wodzynski is marketing consultant with a double focus on management accounting and innovation. He has a proven track record of over 15 years across the whole value chain. His last responsibility was as country Marketing Manager for the Austrian subsidiary of an international healthcare company. Previously, he performed in marketing and management accounting for IT companies (Oracle and IBM), as well as in Life Sciences (Boehringer Ingelheim, JnJ). Florian’s area of expertise spans from quantitative strategy including developing the business model, targeting and pricing to execution by developing targets, KPIs, initiatives and automation. Clients value his holistic approach to measure rigorously marketing efforts for effectiveness and efficiency – following the rationale that you can only manage what you can measure. Florian graduated with a double degree CEMS Master from HEC Paris and the Vienna University for Economics and Business. He lives in Vienna and is fluent in French, English and German.
Michael Heiss is Principal Consultant for Digital Enterprise at Siemens. He studied Electrical Engineering at TU Wien, made a post-doc at MIT in Boston, started his industry career at Bosch and is since 1996 with Siemens in various leading positions for Knowledge, Innovation and Technology Management always with a focus on Open Innovation and Knowledge Networking. He is also and Vice Chair of IEEE Austria and Chair of the IEEE Technology Management Council, Chapter Central Europe.
Daniel Cronin is a passionate marketer and public speaker. He studied at the Vienna University of Economics and Business where he qualified with a Masters in Economics & Social Science. He wrote his thesis on Mobile Marketing and in 2011 became a founding member of the full-service app-agency "all about apps", where he was Head of Marketing. Daniel is Co-Founder and Member of the Board of AustrianStartups and lectures Mobile Business and Marketing at the University of Applied Sciences in Hagenberg. He presented the show "2Minuten, 2Millionen" die PULS4 Startup-Show on national TV. Daniel has also hosted many events and panels including Startup Week 2011, Pioneers Festival 2012 & 2013 as well as the World Business Dialogue and the EBAN Annual Congress, both in 2013.
Alexandra Negoescu With a degree in computer science and E-Business, Alexandra has a deep understanding of new technologies and can assess both the technical and business value of new opportunities. Over the past years working at the TU Wien Innovation Incubation Center, she has been focusing extensively on helping TU Wien scientists assess the business potential of their research projects and, through the TUW i²ncubator incubation program, bring their research from the lab to society.
Thomas Schranz is software developer, serial entrepreneur, and Angel Investor. He organizes Software Engineering Retreats and Hackathons related to emerging technology from data science, functional programming, machine learning, blockchain, and augmented reality. Due to his experience as a serial entrepreneur and angel investor he has a lot of experience in how to build protoypes.
Florian Hämmerle studied Intermedia Design in Vorarlberg, worked as a marketer, illustrator and brand designer for various agencies in Vorarlberg, Tirol and Vienna. Tired of constraining job definitions he turned his versatility into business and founded Hämmerle & Luger together with the graphic designer Vinzenz Luger. The branding studio works with agile teams, its size adapts to the challenge given and is driven by a simple cause: to make branding accessible to everyone.
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