New Product Commercialization (NPC) Module
The purpose of this project is to develop appropriate modules to provide a mechanism to progress exemplary and award winning undergraduate student enterprise projects to pre start up and/or start up stage, while earning credits for the learning outcomes attained.
All too often, high potential undergraduate projects in modules such as entrepreneurship, New Venture Planning and Interdisciplinary New Product Development across a range of disciplines end as soon as the semester ends.
From experience with the CIT student summer entrepreneurship programme, the Hatchery (now renamed to Studetn Inc.), we see concrete evidence that undergraduates have the potential to develop business ideas into real business and start up propositions. Similar student start up accelerator programmes are on offer in Ireland such as DCU’s Ustart, TCD’s Launchbox, and DKIT’s Student Enterprise Internship Programme.
This New Product Commercialization project explores options for students to progress their business ideas from the business plan stage through to commercialization while earning ECTS credits as part of their overall degree programme.
A review of the ACE approved modules and other offerings in Ireland indicate a gap in relation to the market validation and commercialization skills covered by a 10 credit module at undergraduate level 8. The review highlights a range of offerings at postgraduate level 9.
The main outputs from this project are: module development and teaching resources.
Three 5 ECTS Credit modules have been developed to date:
1. New Venture learning Module
This module is tailored to the distinctive needs of the enterprising student with a viable business idea. In particular the need to equip the student with enterprise and commercialization skills to meet the challenges of developing their business idea to pre start up and/or start up stage. This is specifically tailored for participants on the Student Inc Summer Entrepreneurship programme. Only those accepted on to Student Inc can take this module. The module will support students; with the help of academic/industry mentors advance their entrepreneurship projects.
This module is designed to allow participants on summer entrepreneurship programmes accumulate credits for the learning outcomes. 5 Credits will be awarded at level 8. This module will be piloted in Summer 2014 in CIT.
2. New Venture Commercialization Module
This module is designed for the student with an existing new product/service idea. The module guides students through the process of bringing their idea, innovation or invention to the marketplace. The module is designed as a follow on for New Product Development or other similar modules and the focus is on development of a commercialization plan. 5 Credits will be awarded at level 8
3. Innovation and Entrepreneurship for the postgraduate researcher
This module is tailored to the distinctive needs of the research student, and in particular the need to equip researchers with innovation and enterprise skills to meet the challenges of a changing economic environment. This module will cover the concept of entrepreneurship, the culture and workings of an entrepreneurial environmental as well as the personal and environmental factors which support entrepreneurial behavior. The module will give learners an excellent grasp of the principles underlying creative thinking, problem solving and innovation and will provide scope to appraise the entrepreneurial and commercialization potential of their own field of research. In cognition of the changing career destination of research graduates, entrepreneurship as a career path will be evaluated. 5 Credits will be awarded at level 9/10.