21061 Business Model Generation (Project)

Description

This subject is the last in a series of applied subjects within which students leverage their discipline knowledge to innovate new approaches for solving components of a big picture problem. Students work collaboratively to apply skills of design-led innovation, and creative enterprise to develop solutions that catalyse social purpose into the real world of business.

The aim of the subject is to equip students with the necessary skills and techniques to further develop an initial entrepreneurial idea into a viable business opportunity. Students produce conceptual and/or working prototypes of, for example, new social media applications, intelligent objects, smart services or integrated products or services, that could be the seed for a business at the end of the session. As well as developing a specific solution to an innovation problem, students develop and test a number of alternative business models.

The subject is part of an embedded mentoring program set up to support the entrepreneurial proposals and develop them into feasible prototypes and start ups. Students have access to industry and academic mentors who help shape the proposals. To facilitate these discussions and provide an environment for exchange of entrepreneurial ideas students work in a studio environment.