Category Archives: Workshops

Business Model Canvas Bootcamp

The Innovation Center for Entrepreneurship will be hosting Business Model Canvas Bootcamp, a two-part workshop on November 14 and 28 from 7-9 pm in Rekhi 214. Using the Business Model Canvas, students will work with members of the Michigan Tech I-Corps Site Program teaching team to develop a business model for their technology or idea.

The Business Model Canvas is a tool developed by Alexander Osterwalder & Yves Pigneur. It emphasizes the relationships of the nine components of a business model:

  1. Customer Segments
  2. Value Propositions
  3. Channels
  4. Customer Relationships
  5. Revenue Streams
  6. Key Resources
  7. Key Activities
  8. Key Partnerships and
  9. Cost Structure.

Check out this short video for a brief overview of the Business Model Canvas. The idea is that business plans are static while a successful business model needs to be dynamic. A successful business venture requires a tool that allows one to quickly assess the impact of changes and adjust accordingly.

The I-Corps teaching team will guide students through the process of developing their unique business model. In this workshop, you will map out your canvas with specific focus on the value proposition and the customer segments. After developing a hypothesis around your the nine components, focusing on the customer segment and its “pain points”.  From there you will then test your hypothesis through customer interviews or customer discovery.  Does your solution create value for your customer segment? Based on the customer discovery process you will understand if you need to adjust your value proposition and pivot.

Business Model Bootcamp is part of Husky Innovate, a series of workshops and events that build on each other with the intention of guiding students through key phases of innovation or business development to help them prepare for future competitions, as well as future intrapreneurial and/or entrepreneurial business ventures. Registration for this workshop is required.

Students who participated in the Idea Pitch Competition and/or plan to compete in the upcoming Bob Mark Business Model Competition, are strongly encouraged to register for Business Model Canvas Bootcamp. There is a cap of 25 contestants for our Bob Mark Business Model Competition. Priority will be given to those who have completed the Business Model Boot Camp. Husky Innovate is hosted by the Innovation Center for Entrepreneurship, a collaboration between the School of Business & Economics, Pavlis Honors College, and the Vice President for Research Office.

 


I-Corps Site Program at Michigan Tech

The Michigan Tech I-Corps Site Program and the Innovation Center for Entrepreneurship will be hosting its next NSF Innovation Corps (I-Corps) Workshop beginning January 2018. Dates and times for the upcoming workshop are tentatively scheduled for Jan. 17, Jan. 24, Feb. 14 and Feb. 21 from 5pm-8pm.

The I-Corps Site program is a team-based program structure that was developed through a partnership between the National Science Foundation (NSF) and successful Silicon Valley entrepreneurs. The workshop provides an introduction to the Lean Start-up business development methodology which focuses on getting out of the lab and using the proven tools of Customer Discovery and the Business Model Canvas to evaluate the commercial potential of innovative technologies.

This is a great opportunity to work with an experienced team of workshop leaders to determine, document, and fully realize the commercial potential of your technology. Teams which successfully complete the program requirements are eligible for $2500 to advance their technology-focused start-up ideas through customer discovery and prototyping. Teams also become eligible for NSF’s National I-Corps program which includes $50,000 in funding.

Participants of I-Corps Site programs and NSF’s National I-Corps have demonstrated significantly higher funding rates from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) programs which offer Phase I awards up to $225,000 and Phase II awards up to $750,000. Past participants also report that the I-Corps program had a positive impact on their careers, as well as their approach to research, teaching and mentoring.

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Mechanical Engineering Assistant Professor, Dr. Andrew Barnard commented on his experience with I-Corps, “Our participation in the I-Corps Site Program at Tech helped us to understand our potential customers and get answers to questions that will steer our research for years to come. It has propelled us to the National I-Corps Program where we’re excited to learn more from our customers about our product idea.”

Apply today for this great experience. For more information on the Michigan Tech I-Corps Site Program or to apply for the January workshop, visit mtu.edu/honors/ice/icorps/.


Michigan Tech I-Corps Site Workshop

The Michigan Tech I-Corps Site Program and the Innovation Center for Entrepreneurship will be hosting its next NSF Innovation Corps (I-Corps) Workshop in January over a 4-week period, with the first session starting on Saturday, January 7th.

The I-Corps Site program is a team-based program structure that was developed through a partnership between the National Science logo_nsf-icorpsFoundation (NSF) and successful Silicon Valley entrepreneurs. The workshop provides an introduction to the Lean Start-up business development methodology which focuses on getting out of the lab and using the proven tools of Customer Discovery and the Business Model Canvas to evaluate the commercial potential of innovative technologies.

This is a great opportunity to work with an experienced team of workshop leaders to determine, document, and fully realize the commercial potential of your technology. Teams which successfully complete the program requirements are eligible for $2500 to advance their technology-focused start-up ideas through customer discovery and prototyping. Teams also become eligible for NSF’s National I-Corps program which includes $50,000 in funding.

Participants of I-Corps Site programs and NSF’s National I-Corps have demonstrated significantly higher funding rates from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) programs which offer Phase I awards up to $225,000 and Phase II awards up to $750,000. Past participants also report that the I-Corps program had a positive impact on their careers, as well as their approach to research, teaching and mentoring.

Apply today for this great experience! For more information on the Michigan Tech I-Corps Site Program or to apply to the January workshop, visit mtu.edu/honors/ice/icorps/. The deadline to submit your application is January 2, 2017.