Many academics coming from different disciplines select to create their own business in parallel with their academic duties or not. Developing a new venture involves testing the commercialisation of a business idea and choosing the best options for growing the business, including assembling resources, protecting intellectual property, developing the business model, identifying and targeting the market and attracting funding.
This MOOC equips you with the knowledge you require to develop and refine your business creation strategy and provides an academic underpinning to the process. This MOOC aims to provide you with a broad knowledge and understanding of the entrepreneurial and innovation agenda, the need for innovation and all aspects of the new venture creation process. The MOOC includes five modules that will facilitate you with the development of your Business Model Canvas.
In particular, the modules elaborate more on the Right Side of the Canvas, where the value proposition, channel, customer segment, ongoing customer relationship model and the revenue stream are validated. Nevertheless, without ignoring the importance of the Left Side of the Canvas, where business validates its cost assumptions, develops essential partnerships, establishes a credible unfair advantage, and leverages its key resources.
You will be expected to come to this practical programme with a business idea you intend to develop. This will be achieved by using the Business Model Journey Canvas, which has been designed exclusively for the needs of this course. This developed toolkit is advised to be filled by you every time you complete a module. This step by step approach will give you the time and the opportunity to focus on particular blocks each time. Your business concept plan will be reviewed by mentors and consults participating in the ENTRANCE program to ensure its quality. At the end of this activity, you will be able to produce a comprehensive business plan to launch a business.
The MOOC consists of four modules addressing five macro-areas dedicated to the development of a Business Plan Model emphasising the Business Model Innovation:
- Module 1: Turning ideas into business opportunities
- Module 2: Marketing entrepreneurial products/services
- Module 3: Entrepreneurial ideas into reality
- Module 4: Pitch your idea!
The modules include learning material, lectures, videos, quizzes, glossaries, additional resources, case studies, and suggested activities. The Open Educational Resources were co-developed by the ENTRANCE team which is constituted by professors, researchers and consultants with significant experience in the development of new businesses from Cyprus, Greece, Portugal and Lithuania. The MOOC is accompanied by the toolkit in which you can develop your business plan.