Innovation means doing something differently, rather than doing the same thing better. Through the Innovation module, part of the IGERT program at WPI, you’ll be introduced to the theories of innovation, and you’ll use case studies to understand how these theories can be put into practice.
The Innovation module focuses on creative strategies, opportunity identification, and team building. It’s designed to help develop a new way of thinking that will help you succeed whether you choose to go into academia, industry, or entrepreneurism.
Topics covered in the Innovation module include:
Opportunity and feasibility – opportunity seeking and identification, feasibility analysis, business model development, and understanding the needs of the customer and the market.
Planning and team building – forming a venture team, introduction to creating business plans, legal issues of starting and maintaining a new venture, intellectual property, and technology transfer.
Selling an idea – value propositions, elevator pitches, ethics, and responsible conduct.
Funding – obtaining seed capital, early-stage financing, and exit strategies.