ENT 241 - New Venture Project

Credits: 3
Instructional Contact Hours: 3

Focuses on the creation, evaluation, development, and launch of a new business, product, or service through experiential learning. Uses the entrepreneurial process to co-create start-up or product ideas by testing value propositions in actual market conditions; teams identify new business ventures to meet current market needs. Generates business models, with supportive venture plan documents, investor pitches, websites, and crowd-funding strategies.

Prerequisite(s): ENT 110, CST 115W
Corequisite(s): None
Lecture Hours: 45 Lab Hours: 0
Meets MTA Requirement: None
Pass/NoCredit: Yes

Outcomes and Objectives

Identify a potential new venture
1. Describe a market problem to solve
2. Specify the stakeholders who have this problem
3. Research how the problem is currently being addressed
4. Refine the opportunity based on feedback
Use the new venture creation process to develop ideas
1. Identify the value proposition
2. Design a business model
3. Conduct a feasibility analysis
4. Refine the idea based on feedback
Develop a marketing strategy for the new venture
1. Create a prototype
2. Build an ecommerce website
3. Identify crowdfunding opportunities
4. Write a stakeholder pitch
5. Design a pitch deck
6. Present the new venture idea including a prototype if applicable
7. Refine the marketing strategy based on feedback
Create a launch strategy
1. Find funding to augment available resources
2. Complete business model execution strategy
3. Finalize the operational tasks necessary to insure the product can be commercialized
4. Consult with mentor regarding the launch of the idea