Entrepreneurshipmindset and capabilities modulepart #1

AaltoVenturesProgram

Vision

Sustainability Through Entrepreneurship

The world changes fast, we all know that.Every day it is getting harder to predict what works.We believe it is better to build the future than predict it.

Entrepreneurs build.

We help the Aalto Community to build like an entrepreneur.

Mission Statement

Module structure

Contact session22.03 8.30-10.00

Contact session29.03 8.30-10.00

Pre-reading materials Reading

materialsPeer-to-peer assessment

HAVU Cosmethics,Tatu Fontell

Tikkurila,Juha Lipponen

Module structure

Contact session22.03 8.30-10.00

Contact session29.03 8.30-10.00

Pre-reading materials Reading

materialsPeer-to-peer assessment

HAVU Cosmethics,Tatu Fontell

Tikkurila,Juha Lipponen

Module assessment - pass/fail

Learning outcomes:• Understand the basics of entrepreneurship

mindset and entrepreneurial skills;• Be able to explain why engineers need

entrepreneurship.

Breakout rooms discussion.Questions:

• Why entrepreneurship and intrapreneurship are important?

• What fits you better: entrepreneurship, startup path or intrapreneurship? And why?

15 min. discussion (3 people), be ready to present your answers

Your answers:• Why entrepreneurship and intrapreneurship

are important?

...

Enterpreneurship mindsetcharacterized by the ability and willingness to continuously search for opportunities to create social and economic value, and the courage to take actions to pursue these opportunities under uncertainty

Entrepreneur:

Tech startup:

• Global market

• Disruptive technology Entrepreneur:

• Freelancer / solo entrepreneur

• Local market

• Niche product or service

Intrapreneur:

• R&D and innovation departments in corporations

Volunteer. Community work.Social entrepreneurship

Exploitation(execution)

*The innovator's dilemma by Clayton Christe*The Pareto Principle

Exploration

80% 20%Disruptive

innovationsIncremental innovations

VS.

Entrepreneurship

EntreComp: The Entrepreneurship

Competence Framework 2016

https://ec.europa.eu/jrc/en/publication/eur-scientific-and-technical-research-reports/entrecomp-entrepreneurship-competence-framework

o Entrepreneurial capabilities (AVP):

o - Presentation (pitching) skillso - Teamwork, leadershipo - User and customer interactiono - Iterative and lean developmento - Business modelling (financial and

economic literacy)o - Creativityo - Ethical and sustainable thinkingo - Resilience

https://solarfoods.fi/

https://www.toihan.com/en/

Havu Cosmetics

Breakout rooms discussion.Questions:

• What was the reason to start the company?

• How the team was formed? Role of the leader? Role of the team?

15 min. discussion (3 people), be ready to present your answers

Your answers:• What was the reason to start the company?

...

Your answers:• How team was formed? Role of the leader?

Role of the team?...

Classical waterfall model

What if customers didn’t like the product?

Classical waterfall model

Design thinking

Scientific component Price

Design

User experience

Value proposition

Marketing / branding

Technical feasibility

Business model

Delivery / packaging

affect customer decision to use/ buy a product /

service

Scientific component Price

Design

User experience

Value proposition

Marketing / branding

Technical feasibility

Business model

affect customer decision to buy a product / service

Design thinking

Delivery / packaging

• Will people use my product / service?

• How can I be sure that I am creating value before I commit large resources to the project?

• How can I acquire detailed design requirements for a yet nonexistent product / service?

DESIGN THINKING can help you answer these questions:

Reading materials before next session are in MyCourses

Be ready for the quiz in the beginning of next session