University of Technology Sydney

21643 Innovation Lab

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2021 is available in the Archives.

UTS: Business: Management
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Anti-requisite(s): 27362 Industry Project 2

Description

In this subject, students learn the necessary knowledge, skills and techniques in entrepreneurship to develop a creative idea into a viable business opportunity. Students work collaboratively to leverage their own discipline knowledge and apply skills of user-centred innovation and creative enterprise to incubate entrepreneurial ideas. The aim is to produce feasible working prototypes of new products or services as well as develop robust business models which could seed new startups or real innovation within existing enterprises. Students have access to industry and academic mentors who help shape their proposals from opportunity identification and creative ideation to business model generation. To facilitate this entrepreneurial process and enable the exchange of ideas, students work in a collaborative studio environment.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Demonstrate an understanding of the theoretical concepts and practical frameworks of entrepreneurship
2. Apply entrepreneurial skills and processes to develop innovative ideas and incubate new business concepts
3. Apply design thinking as a methodology for user-centred innovation, creative problem-solving and ideation, and prototype testing
4. Develop an appropriate business model to commercialise the entrepreneurial idea
5. Create a business proposal and pitch the entrepreneurial idea to potential investors and stakeholders

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

  • Apply innovative problem-solving processes to address management issues in a specific industry context (2.1)

Contribution to the development of graduate attributes

The Innovation Lab contributes to developing skills of entrepreneurial collaboration, creative problem solving, business modeling and value creation. The subject is devised to support the development of innovation proposals, prototypes and start-up ideas. The subject contributes to developing responsiveness and improvisation capabilities that are required for conceiving business ideas in dynamic and complex market environments..

This subject contributes to the development of the following graduate attributes:

  • Critical thinking, creativity and analytical skills
  • Communication and interpersonal skills

This subject also contributes specifically to develop the following Program Learning Objectives:

  • 3.1: convey information clearly and fluently, in high quality written form appropriate for their audience

Teaching and learning strategies

This subject contributes to developing entrepreneurial skills to create and test start-up business ideas or new business opportunities within existing enterprises. Particular attention is paid to building skills in creative problem-solving through a user-centred approach, and developing innovative ideas backed by feasible and viable business models. The subject develops the student's ability to work in teams, and engage with a range of stakeholders including customers, partners, and funding bodies, to create and test new products and services or significantly improving existing ones. The subject is designed to support students in drawing on industry and academic mentors for the development of business proposals and pitching new business ideas. The subject builds responsiveness and improvisation capabilities to act entrepreneurially in dynamic and complex market environments.

This subject contributes to the development of the following graduate attributes:

  • Critical thinking, creativity and analytical skills
  • Communication and interpersonal skills

An aim of this subject is to help you develop academic and professional language and communication skills to succeed at university and in the workplace. During the course of this subject, you will complete a milestone assessment task that will, in addition to assessing your subject-specific learning objectives, assess your English language proficiency.

Content (topics)

  • Entrepreneurship concepts and theories
  • Design-led innovation process and mindset
  • User-centred product and service design
  • DesignThinking and Lean Start-up
  • Opportunity recognition, problem definition and problem reframing
  • Ideation and prototyping
  • Product and service testing and evaluation
  • Business model generation
  • Entrepreneurial skills and traits
  • Entrepreneurial networks and ecosystems
  • Entrepreneurial pitching and financing

Assessment

Assessment task 1: Project (Group)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3, 4 and 5

Weight: 30%
Length:

Part 1: Team video – 5 minutes

Part 2: Final pitch – 8 minutes + 4 minutes Q&A/feedback

Pitch deck

Assessment task 2: Portfolio (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

This addresses program learning objectives(s):

2.1

Weight: 70%
Length:

Part 1: Individual report - 2000 words plus visuals, tables and references

Part 2: Infographic slide deck - 5 slides plus appendices

Part 3: Reflective review essay - 1000 words plus visuals, tables and references

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

Liedtka, J., and Ogilvie, T. 2011. Designing for Growth: A Design Thinking Tool Kit for Managers: Columbia Univ Pr. (ISBN 0231158386) [This guide is available as a FREE download via the UTS Library. Alternatively, you may purchase a hard copy from the CoOp]

Further academic material will be made available via UTSOnline. Students are also expected to conduct their own research to draw on artciles from academic journals accessible via the UTS Library.

Recommended texts

Dorst, K. (2015). Frame innovation: Create new thinking by design, MIT Press, Cambridge, MA.

Osterwalder, A. and Pigneur, Y., (2010). Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons.

References

The following are suggested readings and indicative only.

Brown, T. and Katz, B. 2009. Change By Design: How Design Thinking Transforms Organisations And Inspires Innovation. New York: HarperCollins.

Chesbrough, H. 2010. Business Model Innovation: Opportunities And Barriers. Long Range Planning, 43(2): 354-363.

Martin, R. 2009. The Design Of Business: Why Design Thinking Is The Next Competitive Advantage. Boston, Massachusetts: Harvard Business Press.

Christensen, C. M., Baumann, H., Ruggles, R., and Sadtler, T. M. 2006. Disruptive Innovation For Social Change. Harvard Business Review, 84(12): 94.

Frederik, H., O'Conner, A., and Kuratko, D.F. 2013. Entrepreneurship Theory, Process, Practice, 3rd Ed, Cengage, Melbourne, Australia.

Tidd. J, and Bessant, J. (2013), Managing Innovation, 5th Ed, John Wiley & Sons. Chichester, UK.