MBM431 Commercialization of Innovations

• Topics

  Core topics:

  • Understanding technological innovations
  • Connecting technological innovations and target group needs and benefits
  • Using design thinking to develop product concepts from tech innovations
  • Testing and improving product concepts
  • Turning innovations into strong brands
  • IPR
  • Estimating market potential
  • Marketing planning and launch campaigns
  • Entrepreneurial cross-disciplinary teamwork (technical and business adm.)

  At the beginning of the semester, master students from NHH and NTNU form mixed project groups. Each group is introduced to a company currently working on an innovation project funded by the Norwegian Research Council via the BIA program. Next, students attend lectures and apply theories and models on the project as the course progresses. Faculty provide guidance. The final report is presented to faculty and company representatives. Some lectures are given at NHH, others at NTNU (lectures are video recorded). Group members meet at the beginning of the semester and the last week before the final presentation. Skype and other means of communication technology is used for group work between physical meetings.

• Learning outcome

  By the end of this course the students

  Knowledge

  • can make sense of tech innovations
  • has thorough knowledge of extant techniques for developing product/service concepts from innovations
  • can apply knowledge to position product/service concepts
  • has up-to-date knowledge on the major issues of IPR
  • has knowledge on models for commercialization planning

  Skills

  • can critically analyze relevant academic and professional problems related to commercializing innovations
  • is able to communicate extensive independent work and terminology regarding innovation commercialization
  • can conduct research to analyze and make sense of real technological innovations
  • is able to use design thinking techniques for the purpose of turning real technological innovations into profitable product/service concepts
  • can develop an effective brand positioning strategy for product/service concepts
  • can estimate market potential for selected product concepts under conditions of high uncertainty
  • is able to develop plans for protection of IPR
  • present commercialization plans to a corporate audience in a professional manner
  • can identify and solve potential problems related to work in cross-disciplinary groups (members with technical and business background)

• Teaching

  Combination of lectures, group-work and feedback sessions.

• Assessment

  Oral group exam to be presented in person.Group size 4-6 students.

• Grading Scale

  A-F

• Computer tools

  Adobe Connect

• Literature

  Barringer, B. and Ireland, R. (2015). Entrepreneurship: Successfully Launching New Ventures, 5th Edition.

  Selected articles.