Innovation Lab

Innovation Lab I
ENTR-940-0 (61): Winter 2014

The class applies the Lean Launchpad methodology but also tailors the instruction to the characteristics of industries represented in the class such as consumer products, education, and health services.

Business concepts that progress favorably in Innovation Lab I can apply to Innovation Lab II. Students electing not to pursue Innovation Lab II are not penalized with respect to their grade if they have shown a committed effort throughout the course in coming to such a decision.

Innovation Lab I Objectives:
• Continue to validate the value proposition, customer segment and go-to- market strategy

• Research, define, prototype and implement an initial product offering and iterate as necessary

• Refine and develop a business model for a successful new venture

Innovation Lab II (Spring 2014) focuses on developing and understanding the key metrics that will drive the success of the new venture and on preparing an investor pitch and the supporting projections required to properly capitalize and launch the business.

Application:
Student teams need to apply to participate in Innovation Lab I by November 14th through an application process. Student teams can be composed of students from other parts of the university, but at least one member of the team must be enrolled at Kellogg.

Funding:
There is funding available to purchase services to advance the businesses. Teams can submit a proposal for a particular service at any point in the course.

For more information: kiei@kellogg.northwestern.edu