195.097 PR Innovation Project 1 and 195.103 PR Innovation Project 2

The “Innovation Project” of the supplementary curriculum on innovation will focus on implementing the lessons learned within the other lectures. Students of the curriculum will work on a concrete innovation project in order to consolidate and strengthen the innovation knowledge in a real innovation case. The lecture starts in winter semester with “Innovation Project 1” and concludes in summer semester with “Innovation Project 2”.

Goals:

  • Customer exploration, problem validation, solution, value propositionon

  • Design Thinking

  • Prototyping, problem-solution-fit

  • Business Model Canvas (BMC)

  • Competition & Market Analysis

  • Milestone-presentations: Marketing-, sales- & PR-strategy, finance plan & financing strategy, extended pitch deck, 3-min.-pitch

  • Slide Deck Writing, Storytelling & Pitching

  • Demo Day (final pitch)

Learning Objectives

  • Coming up with a solution for an assumed problem with a value proposition for the customer

  • Conducting a problem validation (e.g. interviews with potential customers to validate assumptions) and adapt/change product/service accordingly

  • Conducting a problem-solution-fit validation: build a first prototype/mock-up, test it and adapt/change it accordingly

  • Developing the Business Model Canvas

  • Developing a marketing-, sales-& PR-strategy

  • Developing a finance plan and a financing strategy for the next years

  • Learning and improving the pitch in front of investors and stage appearance

  • Learning about Slide Deck Writing and Storytelling

Format of Course

The course consists of input- and mentoring-sessions as well as milestone-presentations:

  • In the input- and mentoring-sessions on specific topics, experienced mentors support the students in implementing the theory learned in their individual start-up projects.

  • In the milestone-presentations, students will present the current status or specified aspects of their project to the others and some mentors, who will offer feedback and help them to improve and adapt with asking critical questions.

The milestone-presentations will include Business Model Canvas, competition and market analysis; marketing-, sales- and PR-strategy; finance plan & financing strategy; extended pitch deck and a 3-min-pitch deck.

The input- and mentoring-sessions will cover the topics Design Thinking, prototyping, Business Model Canvas, competition and market analysis and product-market-fit.

The Diploma Supplement on Innovation will conclude with the Diploma Demo Day, where the students pitch their innovation projects to a jury of potential investors and the best projects will be awarded with special prizes (e.g. the acceptation into the TUW i2nkubator program or a place in the co-working space Founder Space).

INNOVATION PROJECT 1 – DETAILED CONTENT

  • Day 1: Design Thinking Workshop: Project pitching, Customer exploration/problem, problem validation, solution, value proposition, prototyping, problem-solution fit

  • Day 2: Input- and mentoring-session Business Model Canvas

  • Day 3: Input- and mentoring-session Competition & Market Analysis

  • Day 4: 1st Milestone-presentation + feedback: Problem, Solution, Validation, Prototype, Business Model Canvas, Competition & Market Analysis

1. Design Thinking Workshop:

Schedule:

  • Design Thinking in a Nutshell

  • The Rules of Design Thinking

  • The “Wallet Experiment”

  • Presentation of the problem statements of the student teams

  • Selection of the top problems -> Teams to work on during this workshop

  • DT loops for the ideas incl. prototyping and testing

  • Presentation of the best ideas

  • Next steps for all students/teams

Pre-Preparation:

  • 1-2 Slides as a Problem statement based on the first developed ideas

  • 1 or 2 further divers participants for the workshop (optional)

Learnings and Takeaways:

  • Basic understanding of Design Thinking

  • New points of view for the presented problems

  • New ideas to further develop

Next Steps:

  • Reshaping of the ideas and Idea description

  • Problem-Solution Fit

2. Business Model Canvas Workshop:

You will get an input on the Business Model Canvas and then you will work on your own canvas with the support of various mentors.

3. Competition & Market Analysis Workshop

"The #1 company-killer is lack of market." - Marc Andreessen (entrepreneur and venture capitalist)
There are many brilliant founders and teams working on beautiful and exciting products or services. But those solutions will only provide significant value if they reach the market they were designed for. Many experts agree that the leap from a startup to a company is one of the most crucial scenarios to focus on. This stage is often defined as the so called product market fit. In this lecture, you will learn how to identify and understand your market, how you can outperform your competition and ultimately bring your solutions to scale.

Part 1: Competitive Advantage

Learning Objectives: No company is good at everything. Identify your potential advantages to position yourself successfully in your desired market.

Content:

  • Blue Ocean Strategy

  • Finding your USP

Working Session:

  • Competitor overview

  • Applying Blue Ocean Strategy in order to identify your competitive advantage

Part 2: Market Analysis

Learning Objectives: Understanding the dimensions, dynamics and characteristics of your target market is crucial for successful go to market strategy.

Content:

  • Market characteristics

  • PEST analysis, ADL Matrix, Porter’s Five Forces, SWOT Analysis

  • Identifying market growth

Working Session:

  • Top down analysis to determine market size

  • Bottom up analysis to determine go to market strategy

Part 3: Product Market Fit

Learning Objectives: Understanding the relevance of product market fit as well as its implication on the creation of a solution (product/service) as a young company.

Content:

  • What is Product Market Fit?

  • Why is it relevant?

  • How can I target my current activities?

  • Which distribution channels should I use?

Working Session:

  • Identifying your own product market fit scenario

4. 1st Milestone Presentation:

At the end of the first semester, you will present the current status of your project in the first milestone presentation in front of your colleagues and a jury of mentors, who will both offer feedback.

Presentation Topics: Problem, Validation, Solution, Prototyping, BMC, Competition & Market Analysis

INNOVATION PROJECT 2 – DETAILED CONTENT

  • Day 1: 2nd Milestone-presentation + feedback: Go-to-market-strategy

  • Day 2: 3rd Milestone-presentation + feedback: Finance Plan & Financing Strategy

  • Day 3: Workshop: Team Excellence

  • Day 4: Workshop: Storytelling & Slide Deck Writing

  • Day 5: 5th Milestone-presentation + feedback: Extended pitch deck

  • Day 6: Workshop: Pitching

  • Day 7: 6th Milestone-presentation + feedback: 3-min-pitch

  • Day 8: Demo Day, final presentation

Workshop: Team Excellence

Description will be added soon

Workshop: Storytelling & Slide Deck Writing

Description will be added soon

Workshop: Pitching

Daniel Cronin is the pitch expert and he will explain what makes a good pitch. With a game, students practice spontaneous pitching. After the workshop, they are ready to prepare their final pitches for the Demo Day.

Grading:

  • Attendance at lectures

  • Participation at input- and mentoring-sessions and in feedback-sessions for other students

  • Performance at milestone-presentations (Go-to-Market-Strategy, Finance Plan & Financing Strategy, Extended pitch deck, 3-min-pitch at rehearsal, Demo Day)

  • Quality of documents to hand in (exported pdf of WhatAVenture-tool, extended pitch deck, finance plan, executive summary (one-pager), one-liner, logo)

More about the lecturers

Fadi Haddad is a B2B sales strategist at DADD. Before, he was managing director of Pioneers.io. Before his relocation to Vienna, he was based in Dubai and Singapore in the field of sales & partnerships.

Lars Alexander Franz is a product manager with vast leadership experience in business development, innovation and digitalization. He is the Lead Agile Transformation at RadarServices ( FT 1000: Europe’s Fastest Growing Companies 2018 und Deloitte’s Technology Fast 500 EMEA 2017).

Prof. Dr. Michael Heiss is Principal Consultant for Digital Enterprise at Siemens. He studied Electrical Engineering at TU Wien, made a post-doc at MIT in Boston, started his industry career at Bosch and is since 1996 with Siemens in various leading positions for Knowledge, Innovation and Technology Management always with a focus on Open Innovation and Knowledge Networking. He is also Vice Chair of IEEE Austria and Chair of the IEEE Technology Management Council, Chapter Central Europe.

Dipl.-Ing. Stefan Kreppel, MBA is one of the leading start-up experts in Austria. He works as the start-up representative of the Austrian Research Promotion Agency (FFG) and is responsible for the start-up related funding and financing schemes with in this organisation. He also works as a speaker and juror in the start-up area with a focus on sustainable innovation and entrepreneurship in general. Furthermore Kreppel is mentor and coach off several Austrian start-ups and serves as a facilitator for the Austrian community. As an advisor he works on the transaction between the public and political sector and the start-up community. As an inventor and innovator he holds several out licensed international patents, developed several graphic designs and is highly influenced by design and open innovation approaches. Stefan was investment and funds manager of Raiffeisen Mezzanin Partners, a mezzanine funds with 60 millions under management. Prior he managed the first Austrian business angel network i2 with over 100 business angels as members. Kreppel obtains an environmental engineering degree from the University of Natural Resources and Life Sciences in Vienna and holds a Master's degree from the Danube University Krems and the CWRU Cleveland.

Mag. Daniel Cronin is a passionate marketer and public speaker. He studied at the Vienna University of Economics and Business where he qualified with a Masters in Economics & Social Science. He wrote his thesis on Mobile Marketing and in 2011 became a founding member of the full-service app-agency "all about apps", where he was Head of Marketing. Daniel is Co-Founder and Member of the Board of AustrianStartups and lectures Mobile Business and Marketing at the University of Applied Sciences in Hagenberg. He presented the show "2Minuten, 2Millionen" die PULS4 Startup-Show on national TV. Daniel has also hosted many events and panels including Startup Week 2011, Pioneers Festival 2012 & 2013 as well as the World Business Dialogue and the EBAN Annual Congress, both in 2013.

Thomas Peruzzi founded aicooma in Austria, Switzerland and Germany and built it from scratch till earn-out in 2012. He then rejoined University in York for a second Master Study and took over several interims C*O positions in digital startups like laterpay or gigaset elements. Beside that he angel-invested in digital startups like getwiser, spireglobal, adespresso and advised emerging startups with his strong product and Technology background. He is boardmember of Crate and Advisory Board member of admoment, meinkauf, laterpay, refz.co and roq.ad. Thomas lectures Innovation Management and Technology Leadership and is a respected speaker for European Corporates with regards to lean product management and how to avoid the innovator's dilemma. International VCs and corporate ventures trust his view on technology during due diligence processes.

Max Ditzel currently works as Acceleration Manager at WhatAVenture and is in charge of the setup and support of acceleration and incubation programs that guided more than 750 startups and 250 corporate innovation teams. Besides that he is responsible for the development and implementation of innovation strategies for leading companies in fields like energy, logistics and finance. His activities are mainly focusing on intrapreneurship, synergies between corporates and startups as well as open innovation around technologies. Furthermore, Max is an experienced mentor and speaker for innovation and startup initiatives such as Startup Live, Pioneers of the Balkans, Founder Institute, Pioneers Festival as well as lecturer for the diploma Innovationmanagement at BFI.

Alex Pinter is co-founder of Trayn, a platform for strength and conditioning coaches to create fully individualized training programs for athletes faster and easier. It was officially launched in 2014 with selected professional sports teams in the US and Canada. Prior to that, he was a strategy consultant at Accenture for many years and worked with numerous international clients across Europe (main industry focus: consumer goods, retail, high-tech, and chemicals).

Florian Glatt-Wodzynski is marketing consultant with a double focus on management accounting and innovation. He has a proven track record of over 15 years across the whole value chain. His last responsibility was as country Marketing Manager for the Austrian subsidiary of an international healthcare company. Previously, he performed in marketing and management accounting for IT companies (Oracle and IBM), as well as in Life Sciences (Boehringer Ingelheim, JnJ). Florian’s area of expertise spans from quantitative strategy including developing the business model, targeting and pricing to execution by developing targets, KPIs, initiatives and automation. Clients value his holistic approach to measure rigorously marketing efforts for effectiveness and efficiency – following the rationale that you can only manage what you can measure. Florian graduated with a double degree CEMS Master from HEC Paris and the Vienna University for Economics and Business. He lives in Vienna and is fluent in French, English and German.

 

                  

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