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= Market Research for IT Startups =
−
= Course design in STEM in Higher Education =
  
−
* '''Course name''': Course design in STEM in Higher Education
 +
* '''Course name''': Market Research for IT Startups
−
* '''Code discipline''': ???
 +
* '''Code discipline''':
−
* '''Subject area''': Humanities
 +
* '''Subject area''': Technological Entrepreneurship
   
 
== Short Description ==
  
== Short Description ==
  +
This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality
−
This course is meant to guide you through the process of designing an elective course that you can potentially teach at Innopolis University. The transferable skills you should acquire within this course are (1) to be able to consciously make educated pedagogical decisions related to essential aspects of course design in higher education - the course design process as well as setting up course level objectives and aligning with them assessments, course content, and instructional practices; (2) to be able to document those decisions as a syllabus.
  
   
 
== Prerequisites ==
  
== Prerequisites ==
   
 
=== Prerequisite subjects ===
  
=== Prerequisite subjects ===
−
* HSS104
 +
* N/A
   
 
=== Prerequisite topics ===
  
=== Prerequisite topics ===
  +
* N/A
−
* Bloom et al.’s taxonomy
  
−
* constructive alignment
  
   
 
== Course Topics ==
  
== Course Topics ==
Line 23: Line 22:
 
! Section !! Topics within the section
  
! Section !! Topics within the section
 
|-
  
|-
−
| Setting course objectives. ||
+
| Ideation tools ||
  +
# Art VS Creativity
−
# Course design frameworks
  
  +
# Ability to discover
−
# Needs assessment
  
  +
# How to generate ideas
−
# International, national, institutional, occupational curricula
  
  +
# Creativity sources
−
# Assessment
  
  +
# Ideation in groups
  +
# Rules for ideation for startups
 
|-
  
|-
−
| Instruction. ||
+
| Market research content ||
  +
# Types of research: primary vs secondary
−
# Scholarship of teaching and learning
  
  +
# How to plan a research
−
# Learning theories
  
  +
# Market research chapters content
−
# Teaching and learning approaches
  
  +
# Frameworks used in a market research (SWOT, Persona, etc)
−
# Ethical considerations and inclusive teaching
  
  +
# Tools and sources to conduct a competitors analysis
−
# Materials design
  
−
# Teaching practice
  
 
|-
  
|-
−
| Documentation. ||
+
| Customer development ||
  +
# Interviews are the main tool for “Get Out The Building” technique
−
# Syllabus design
  
  +
# The "Mum's Test"
−
# Teaching philosophy statement
  
  +
# Jobs-To-Be-Done
−
|}
 
  +
# Good and bad interview questions
  +
|-
  +
| Market sizing ||
  +
# Market analysis VS market sizing
  +
# Sizing stakeholders and their interests
  +
# Sizing methods
  +
# TAM SAM SOM calculation examples
  +
|-
  +
| Data for a research ||
  +
# Sources and tools for competitors overview
  +
# Sources and tools for product and traffic analysis
  +
# Sources and tools for trend watching
  +
# Life hacks for search
  +
|-
  +
| Founder motivation ||
  +
# Ways to Stay Motivated as an Entrepreneur
  +
# Exercises for founders motivation
  +
|-
  +
| Pitch Day ||
  +
# Market research results presentations
  +
|}
  +
 
== Intended Learning Outcomes (ILOs) ==
  
== Intended Learning Outcomes (ILOs) ==
   
 
=== What is the main purpose of this course? ===
  
=== What is the main purpose of this course? ===
  +
This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.
−
What is the main goal of this course formulated in one sentence?
  
−
The main purpose of this course is to enable students to design a university elective course.
  
   
 
=== ILOs defined at three levels ===
  
=== ILOs defined at three levels ===
Line 51: Line 72:
 
==== Level 1: What concepts should a student know/remember/explain? ====
  
==== Level 1: What concepts should a student know/remember/explain? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Market research techniques using open data,
−
* describe several course design frameworks and judge their applicability;
  
−
* explain the purpose of needs assessment and describe the steps of the process;
 +
* Typology of market assessment methods,
  +
* Types of research data and their application,
−
* explain the difference between knowledge-based and competency-based course design approaches;
  
  +
* Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc
−
* characterize national, international, and occupational (CS2020) curricula;
  
−
* give examples of program level competencies – universal, general professional, professional;
  
−
* explain the concepts of alignment, sequencing, progression, and recycling related to course design;
  
−
* list and describe the learning theories you know;
  
−
* list and describe teaching and learning approaches you know;
  
−
* describe how ethical and inclusive teaching issues should be considered during the course design;
  
−
* explain the concepts of alignment, progression, and recycling;
  
−
* give examples of different forms of syllabi and explain their purposes;
  
−
* explain the purpose of a teaching philosophy statement and give examples of the content relevant for this document.
  
   
 
==== Level 2: What basic practical skills should a student be able to perform? ====
  
==== Level 2: What basic practical skills should a student be able to perform? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Methods of ideation,
−
* design course level competency statements in line with CS2020 curriculum;
  
  +
* TAM SAM SOM method, 2 approaches,
−
* describe the intended learning outcomes of the course;
  
  +
* Applied tools and resources for market sizing,
−
* align course level objectives with national, occupational, and institutional curricula;
  
  +
* Principles to work with business hypotheses
−
* align the course ILOs with assessment and instruction;
  
−
* design course materials;
  
−
* design formative and summative assessment tasks aligned with the competency statement
  
   
 
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ====
  
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Identify and describe the market
−
* perform needs assessment and write up results;
  
  +
* Assess market potential for any business idea
−
* design and teach a 45’ class on their own where content, instruction, and assessment are mutually aligned and aligned with the competency statement;
  
  +
* Conduct relevant market research before starting up a business
−
* write up a course syllabus;
  
  +
* Use the most relevant and high-quality data for a market research
−
* justify their pedagogical choices based on research-based evidence.
 
  +
 
== Grading ==
  
== Grading ==
   
Line 87: Line 99:
 
! Grade !! Range !! Description of performance
  
! Grade !! Range !! Description of performance
 
|-
  
|-
−
| A. Excellent || 95.0-100.0 || -
 +
| A. Excellent || 85.0-100.0 || -
 
|-
  
|-
−
| B. Good || 80.0-94.99 || -
 +
| B. Good || 70.0-84.0 || -
 
|-
  
|-
−
| C. Satisfactory || 70.0-79.99 || -
 +
| C. Satisfactory || 50.0-69.0 || -
 
|-
  
|-
−
| D. Fail || 0.0-69.99 || -
 +
| D. Fail || 0.0-50.0 || -
 
|}
  
|}
   
Line 102: Line 114:
 
! Activity Type !! Percentage of the overall course grade
  
! Activity Type !! Percentage of the overall course grade
 
|-
  
|-
  +
| Paper #0: Market research structure || 0-10 scale (costs 10% final)
−
| Needs assessment || 10
  
 
|-
  
|-
  +
| Paper #1: TAM SAM SOM || 0-10 scale (costs 20% final)
−
| Participation || 25
  
 
|-
  
|-
  +
| Workshops activity || 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
−
| Class analysis || 40
  
 
|-
  
|-
  +
| Paper #2: Market research || 0-10 scale (costs 30% final)
−
| Thinking behind your course || 10
  
 
|-
  
|-
  +
| Final Presentation || 0-10 scale (costs 20% final)
−
| Syllabus || 10
  
−
|-
  
−
| Course presentation || 5
  
 
|}
  
|}
   
 
=== Recommendations for students on how to succeed in the course ===
  
=== Recommendations for students on how to succeed in the course ===
  +
Participation is important. Showing up and participating in discussions is the key to success in this course.<br>Students work in teams, so coordinating teamwork will be an important factor for success.<br>Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.<br>The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses
−
Participation and self-study are important.<br>You will benefit from discussing the course readings.
  
   
 
== Resources, literature and reference materials ==
  
== Resources, literature and reference materials ==
   
 
=== Open access resources ===
  
=== Open access resources ===
  +
* - article with reflections on the methodology book on the 55 typical business models
−
* Fink, L. D. (2003). A self-directed guide to designing courses for significant learning. Retrieved from http://www.deefinkandassociates.com/ GuidetoCourseDesignAug05.pdf
  
  +
* - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
−
* CC2020 Task Force. 2020. Computing Curricula 2020: Paradigms for Global Computing Education. Association for Computing Machinery, New York, NY, USA.
  
  +
* - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
−
* Bates, A.W. (2015)  Vancouver BC: Tony Bates Associates Ltd. ISBN: 978-0-9952692-0-0.
  
  +
* A selection of with a summary of key ideas from Harvard Business Review
  +
* F. Sesno "" - the book on how to get information out of people through questions.
  +
* a visual guide book to dealing with your inner procrastinator
   
 
=== Closed access resources ===
  
=== Closed access resources ===
  +
* Crunchbase.com
−
* Teaching and Learning STEM: A Practical Guide, Richard M. Felder and Rebecca Brent. Jossey-Bass—A Wiley Brand: San Francisco, CA, 2016. ISBN: 978-1-118-92581-2
  
  +
* Statista.com
−
* Race, P. (2019). The Lecturer's Toolkit: A Practical Guide to Assessment, Learning and Teaching (5th ed.). Routledge.
  
−
* Biggs, J. B., & Tang, C. (2011). Teaching for quality learning at university (4th ed.). Open University Press.
  
   
 
=== Software and tools used within the course ===
  
=== Software and tools used within the course ===
  +
* Boardofinnovation.com
−
* Provide at least 3 open/freemium access tools
  
  +
* Miro.com
−
* None
 
  +
* Notion.com
  +
* MS Teams
  +
 
= Teaching Methodology: Methods, techniques, & activities =
  
= Teaching Methodology: Methods, techniques, & activities =
   
 
== Activities and Teaching Methods ==
  
== Activities and Teaching Methods ==
  +
{| class="wikitable"
  +
|+ Teaching and Learning Methods within each section
  +
|-
  +
! Teaching Techniques !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
  +
|-
  +
| Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Project-based learning (students work on a project) || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Business game (learn by playing a game that incorporates the principles of the material covered within the course). || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| inquiry-based learning || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|}
 
{| class="wikitable"
  
{| class="wikitable"
 
|+ Activities within each section
  
|+ Activities within each section
 
|-
  
|-
−
! Learning Activities !! Section 1 !! Section 2 !! Section 3
 +
! Learning Activities !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
 
|-
  
|-
−
| Interactive Lectures || 1 || 1 || 1
 +
| Interactive Lectures || 1 || 1 || 1 || 1 || 1 || 1 || 1
 
|-
  
|-
−
| Lab exercises || 1 || 1 || 1
 +
| Lab exercises || 1 || 1 || 1 || 1 || 1 || 1 || 0
 
|-
  
|-
−
| Individual Projects || 1 || 1 || 1
 +
| Group projects || 1 || 0 || 0 || 0 || 0 || 1 || 1
 
|-
  
|-
−
| Flipped classroom || 1 || 1 || 1
 +
| Flipped classroom || 1 || 1 || 1 || 1 || 1 || 1 || 0
 
|-
  
|-
−
| Peer Review || 1 || 1 || 1
 +
| Discussions || 1 || 1 || 1 || 1 || 1 || 1 || 1
 
|-
  
|-
−
| Discussions || 1 || 1 || 1
 +
| Presentations by students || 1 || 0 || 1 || 0 || 0 || 0 || 1
 
|-
  
|-
−
| Presentations by students || 1 || 1 || 1
 +
| Oral Reports || 1 || 0 || 1 || 0 || 0 || 0 || 1
 
|-
  
|-
−
| Written reports || 1 || 1 || 1
 +
| Cases studies || 0 || 1 || 0 || 1 || 1 || 1 || 0
 
|-
  
|-
−
| Oral Reports || 1 || 1 || 1
 +
| Experiments || 0 || 0 || 1 || 0 || 0 || 0 || 0
 
|-
  
|-
−
| Experiments || 0 || 0 || 1
 +
| Written reports || 0 || 0 || 1 || 0 || 0 || 1 || 0
−
|}
+
|-
  +
| Individual Projects || 0 || 0 || 0 || 1 || 0 || 0 || 0
  +
|-
  +
| Peer Review || 0 || 0 || 0 || 0 || 0 || 0 || 1
  +
|}
  +
 
== Formative Assessment and Course Activities ==
  
== Formative Assessment and Course Activities ==
   
Line 171: Line 208:
 
! Activity Type !! Content !! Is Graded?
  
! Activity Type !! Content !! Is Graded?
 
|-
  
|-
  +
| Discussion || Difference between Art and Creativity. Examples from your personal experience <br> Tools to manage your attention: work with exercises above <br> Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before? <br> Idea diary: share your experience, was it useful? How to keep motivation to continue? <br> Sharing your business ideas: is it risky for a founder? Why? <br> Name and discuss principles of hypothesis thinking <br> Name and comment on ideation tool you know. Did you have an experience with it? <br> Where to take creativity? Your advice <br> Lets find examples of “Steal like an artist” approach among startups <br> Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea. || 0
−
| Needs assessment || Compare and contrast three course design frameworks: ADDIE, SAM, Integrated course design. <br>List the stages you will take to design your course.<br>Design a plan to perform needs assessment. || 0
  
 
|-
  
|-
  +
| Workshop || Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams || 1
−
| Thinking behind your course || Document the following sections of the portfolio (“Thinking behind your course”):<br>Situational factors<br>Program level objectives<br>Competency statement <br>Assessment || 0
  
−
|}
+
|-
  +
| Exercise || Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. || 0
  +
|}
  +
 
==== Section 2 ====
  
==== Section 2 ====
 
{| class="wikitable"
  
{| class="wikitable"
Line 181: Line 221:
 
! Activity Type !! Content !! Is Graded?
  
! Activity Type !! Content !! Is Graded?
 
|-
  
|-
  +
| Discussion || What are the basic steps in market research? <br> What are the commonly used market research methods? <br> What research question types can be asked in surveys? <br> Should startup prefer primary or secondary research? || 0
−
| Learning theories and teaching and learning approaches || Compare and contrast the following learning theories: behaviorism, cognitivism, constructivism, connectivism.<br>Describe and critically evaluate the following teaching and learning approaches: project-based learning, problem-based learning, case-based learning, just-in-time teaching, process oriented guided inquiry learning (POGIL), studio-based learning, universal design for learning.<br> Which of the learning theories and teaching and learning approaches reflect your teaching philosophy? || 0
  
 
|-
  
|-
  +
| Workshop || SWOT analysis: compare your business idea with competitors and market situation <br> Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry || 0
−
| Ethical considerations and inclusive teaching. || Explain how instructional and materials design should consider the special needs of color-blind, dyslectic, dysgraphic, intellectually advanced, and culturally diverse students.<br> || 0
  
 
|-
  
|-
  +
| Home written assignment || Market research doc: create a structure that is: <br> 1-2 pages long <br> Describes your business idea <br> Contains the structure of your future research <br> Contains a list of questions to answer during the research for each chapter proposed <br> Contains links and references to data sources potentilly interesting to use in a research <br> Its feasible: it should be a chance you may answer all the questions stated in the doc <br> The doc format is designed and well structured || 1
−
| Teaching practice. || Plan, design materials, and teach a 45’ pilot class for BS students.<br>Participate in your classmates’ class as a student or as an observer. <br>Document your reflection about your class.<br>Document and present your feedback for your classmates’ classes. || 1
  
  +
|}
  +
  +
==== Section 3 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Scholarship of teaching and learning || Read and summarize one of the provided articles, post your summary on the forum.<br>Discuss the articles with your classmates. Explain how what you have read can impact your pedagogical choices. || 1
  
 
|-
  
|-
  +
| Oral test || Good or bad interview question? <br> Useful or useless feedback? || 0
−
| Thinking behind your course || Document the following sections of the portfolio (“Thinking behind your course”):<br>Learning theory your course draws upon. Give example of learning experiences your students will be exposed to that are aligned with the vision of that learning theory.<br>Teaching and learning approach your course draws upon. Give example of learning experiences your students will be exposed to that are aligned with those approaches.<br>Ethical and inclusive teaching issues you should consider while designing your course and materials. <br>How learning will happen in your course.<br>List the topics that will be covered and how they will be sequenced.<br>Explain the progression within the course – how the students will be challenged during the course.<br>Explain which concepts will be recycled within the course.<br>Explain how the course competency statement, ILOs, assessments, and instruction are mutually aligned in the course. <br>Anticipate the potential risks in the course and plan how you can overcome them. <br> || 0
  
−
|}
+
|-
  +
| Workshop || Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. || 1
−
==== Section 3 ====
  
  +
|-
  +
| Case study || Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? || 0
  +
|}
  +
  +
==== Section 4 ====
 
{| class="wikitable"
  
{| class="wikitable"
 
|+
 
|+
Line 197: Line 247:
 
! Activity Type !! Content !! Is Graded?
  
! Activity Type !! Content !! Is Graded?
 
|-
  
|-
−
| Syllabus || Write up a draft of the syllabus of your course using the provided template. || 0
 +
| Workshop || Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. || 1
 
|-
  
|-
  +
| Case study || Learn a market sizing case: online babysitting service || 0
−
| Teaching philosophy statement || Write a draft of your teaching philosophy statement. || 1
  
−
|}
+
|}
  +
  +
==== Section 5 ====
  +
{| class="wikitable"
  +
|+
  +
|-
  +
! Activity Type !! Content !! Is Graded?
  +
|-
  +
| Workshop || Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) || 0
  +
|-
  +
| Oral presentation || Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. || 1
  +
|}
  +
  +
==== Section 6 ====
  +
{| class="wikitable"
  +
|+
  +
|-
  +
! Activity Type !! Content !! Is Graded?
  +
|-
  +
| Workshop || Exercises: <br> Personal SWOT Analysis <br> List of Personal Achievements <br> Analysis of Motivating Activities <br> Your Personal Vision || 0
  +
|}
  +
  +
==== Section 7 ====
  +
{| class="wikitable"
  +
|+
  +
|-
  +
! Activity Type !! Content !! Is Graded?
  +
|-
  +
| Pitch session || The final Market Research report should follow the structure discussed <br> Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work || 1
  +
|}
  +
 
=== Final assessment ===
  
=== Final assessment ===
 
'''Section 1'''
  
'''Section 1'''
  +
# For the final assessment, students should complete the Market Research paper.
−
# Grading criteria for the Needs assessment report:
  
  +
# It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
−
# The work shows the evidence of thorough planning and performing research. The plan was timely designed as per which data need to be collected, the ways to collect them and to analyze them. Several, where possible, representatives/groups of representatives of each of the types of stakeholders (industry, students, University) have been interviewed. Other data were collected if necessary. The collected data provide solid evidence to justify the choices of the course content and mode of delivery.
  
  +
# The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
  +
# Grading criteria for the final project presentation:
  +
# Market sizing has been carried out
  +
# Customer segments are named
  +
# Сompetitor analysis has been conducted
  +
# At least 2 prominent data sources are used
  +
# Customer discovery interviews conducted
  +
# Future steps are mapped out
  +
# The final report is visualized clearly and transparent
 
'''Section 2'''
  
'''Section 2'''
  +
−
# none
  
 
'''Section 3'''
  
'''Section 3'''
  +
−
# Grading criteria for the course syllabus, course development portfolio, and presentation:
  
  +
'''Section 4'''
−
# The work is a result of incremental documentation of the vision of the course developer of the situational factors, course objectives, instruction, feedback and assessment, potential risks, and evaluation of the course. The work demonstrates that the course designer makes their pedagogical decisions consciously and responsibly and based on the research evidence where possible; proper explanations and examples are provided to justify those choices. The course designer demonstrates excellent knowledge of learning theories and instructional approaches and full understanding of the concepts of alignment/integration, progression, and recycling.
  
  +
  +
'''Section 5'''
  +
  +
'''Section 6'''
  +
  +
'''Section 7'''
  +
   
 
=== The retake exam ===
  
=== The retake exam ===
 
'''Section 1'''
  
'''Section 1'''
−
# For the retake, students must submit course syllabus and present their course design portfolio.
 +
# For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.
 
'''Section 2'''
  
'''Section 2'''
   
 
'''Section 3'''
  
'''Section 3'''
  +
  +
'''Section 4'''
  +
  +
'''Section 5'''
  +
  +
'''Section 6'''
  +
  +
'''Section 7'''

Latest revision as of 09:50, 29 May 2023

Market Research for IT Startups

  • Course name: Market Research for IT Startups
  • Code discipline:
  • Subject area: Technological Entrepreneurship

Short Description

This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality

Prerequisites

Prerequisite subjects

  • N/A

Prerequisite topics

  • N/A

Course Topics

Course Sections and Topics
Section Topics within the section
Ideation tools
  1. Art VS Creativity
  2. Ability to discover
  3. How to generate ideas
  4. Creativity sources
  5. Ideation in groups
  6. Rules for ideation for startups
Market research content
  1. Types of research: primary vs secondary
  2. How to plan a research
  3. Market research chapters content
  4. Frameworks used in a market research (SWOT, Persona, etc)
  5. Tools and sources to conduct a competitors analysis
Customer development
  1. Interviews are the main tool for “Get Out The Building” technique
  2. The "Mum's Test"
  3. Jobs-To-Be-Done
  4. Good and bad interview questions
Market sizing
  1. Market analysis VS market sizing
  2. Sizing stakeholders and their interests
  3. Sizing methods
  4. TAM SAM SOM calculation examples
Data for a research
  1. Sources and tools for competitors overview
  2. Sources and tools for product and traffic analysis
  3. Sources and tools for trend watching
  4. Life hacks for search
Founder motivation
  1. Ways to Stay Motivated as an Entrepreneur
  2. Exercises for founders motivation
Pitch Day
  1. Market research results presentations

Intended Learning Outcomes (ILOs)

What is the main purpose of this course?

This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.

ILOs defined at three levels

Level 1: What concepts should a student know/remember/explain?

By the end of the course, the students should be able to ...

  • Market research techniques using open data,
  • Typology of market assessment methods,
  • Types of research data and their application,
  • Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc

Level 2: What basic practical skills should a student be able to perform?

By the end of the course, the students should be able to ...

  • Methods of ideation,
  • TAM SAM SOM method, 2 approaches,
  • Applied tools and resources for market sizing,
  • Principles to work with business hypotheses

Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios?

By the end of the course, the students should be able to ...

  • Identify and describe the market
  • Assess market potential for any business idea
  • Conduct relevant market research before starting up a business
  • Use the most relevant and high-quality data for a market research

Grading

Course grading range

Grade Range Description of performance
A. Excellent 85.0-100.0 -
B. Good 70.0-84.0 -
C. Satisfactory 50.0-69.0 -
D. Fail 0.0-50.0 -

Course activities and grading breakdown

Activity Type Percentage of the overall course grade
Paper #0: Market research structure 0-10 scale (costs 10% final)
Paper #1: TAM SAM SOM 0-10 scale (costs 20% final)
Workshops activity 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
Paper #2: Market research 0-10 scale (costs 30% final)
Final Presentation 0-10 scale (costs 20% final)

Recommendations for students on how to succeed in the course

Participation is important. Showing up and participating in discussions is the key to success in this course.
Students work in teams, so coordinating teamwork will be an important factor for success.
Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.
The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses

Resources, literature and reference materials

Open access resources

  • - article with reflections on the methodology book on the 55 typical business models
  • - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
  • - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
  • A selection of with a summary of key ideas from Harvard Business Review
  • F. Sesno "" - the book on how to get information out of people through questions.
  • a visual guide book to dealing with your inner procrastinator

Closed access resources

  • Crunchbase.com
  • Statista.com

Software and tools used within the course

  • Boardofinnovation.com
  • Miro.com
  • Notion.com
  • MS Teams

Teaching Methodology: Methods, techniques, & activities

Activities and Teaching Methods

Teaching and Learning Methods within each section
Teaching Techniques Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) 1 1 1 1 1 1 1
Project-based learning (students work on a project) 1 1 1 1 1 1 1
Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) 1 1 1 1 1 1 1
Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); 1 1 1 1 1 1 1
Business game (learn by playing a game that incorporates the principles of the material covered within the course). 1 1 1 1 1 1 1
inquiry-based learning 1 1 1 1 1 1 1
Activities within each section
Learning Activities Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Interactive Lectures 1 1 1 1 1 1 1
Lab exercises 1 1 1 1 1 1 0
Group projects 1 0 0 0 0 1 1
Flipped classroom 1 1 1 1 1 1 0
Discussions 1 1 1 1 1 1 1
Presentations by students 1 0 1 0 0 0 1
Oral Reports 1 0 1 0 0 0 1
Cases studies 0 1 0 1 1 1 0
Experiments 0 0 1 0 0 0 0
Written reports 0 0 1 0 0 1 0
Individual Projects 0 0 0 1 0 0 0
Peer Review 0 0 0 0 0 0 1

Formative Assessment and Course Activities

Ongoing performance assessment

Section 1

Activity Type Content Is Graded?
Discussion Difference between Art and Creativity. Examples from your personal experience
Tools to manage your attention: work with exercises above
Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before?
Idea diary: share your experience, was it useful? How to keep motivation to continue?
Sharing your business ideas: is it risky for a founder? Why?
Name and discuss principles of hypothesis thinking
Name and comment on ideation tool you know. Did you have an experience with it?
Where to take creativity? Your advice
Lets find examples of “Steal like an artist” approach among startups
Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea.		 0
Workshop Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams 1
Exercise Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. 0

Section 2

Activity Type Content Is Graded?
Discussion What are the basic steps in market research?
What are the commonly used market research methods?
What research question types can be asked in surveys?
Should startup prefer primary or secondary research?		 0
Workshop SWOT analysis: compare your business idea with competitors and market situation
Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry		 0
Home written assignment Market research doc: create a structure that is:
1-2 pages long
Describes your business idea
Contains the structure of your future research
Contains a list of questions to answer during the research for each chapter proposed
Contains links and references to data sources potentilly interesting to use in a research
Its feasible: it should be a chance you may answer all the questions stated in the doc
The doc format is designed and well structured		 1

Section 3

Activity Type Content Is Graded?
Oral test Good or bad interview question?
Useful or useless feedback?		 0
Workshop Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. 1
Case study Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? 0

Section 4

Activity Type Content Is Graded?
Workshop Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. 1
Case study Learn a market sizing case: online babysitting service 0

Section 5

Activity Type Content Is Graded?
Workshop Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) 0
Oral presentation Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. 1

Section 6

Activity Type Content Is Graded?
Workshop Exercises:
Personal SWOT Analysis
List of Personal Achievements
Analysis of Motivating Activities
Your Personal Vision		 0

Section 7

Activity Type Content Is Graded?
Pitch session The final Market Research report should follow the structure discussed
Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work		 1

Final assessment

Section 1

  1. For the final assessment, students should complete the Market Research paper.
  2. It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
  3. The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
  4. Grading criteria for the final project presentation:
  5. Market sizing has been carried out
  6. Customer segments are named
  7. Сompetitor analysis has been conducted
  8. At least 2 prominent data sources are used
  9. Customer discovery interviews conducted
  10. Future steps are mapped out
  11. The final report is visualized clearly and transparent

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7


The retake exam

Section 1

  1. For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7

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