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MAN 631 Creativity and Entrepreneurship in Practice (Fall 2023)

MAN 631 Creativity and Entrepreneurship in Practice (Fall 2023)

Course Outline

Creativity and Entrepreneurship in Practice introduces students to the practical elements of innovation and entrepreneurship. In this class, you will design your own product or service and ideally have an early stage startup by the end of the termMAN 631 starts at the very grassroots of building a business.

During the course, you will reach out to potential customers and by the end of the semester, all student teams will have turned their idea into a pitch deck that will be presented in a real startup pitch setting with a jury including experts from the private equity, legal, consulting, and academic world. Thus, all the projects that will be developed in this class are taken seriously and will be developed into real ventures by the end of class – no showcases, simple write-ups whatsoever. You can expect tremendous opportunities for your personal and entrepreneurial development in this class – including growing your network into the German startup scene and beyond. Please note that developing your business idea is a team effort, lots of fun, and quite a thrill but also requires lots of dedication, commitment, and long nights of work with your team outside of the classroom

Are you ready for a challenge and do you want to change the world? Are you ready for the real startup journey? Then MAN 631 is your perfect choice. Join us!

By the way: The course starts quite early in the semester. Please be aware that as soon as  the team building is completed, you cannot leave this class without failing it – just like in a real startup setting when you let your team down (see information on registration below).

What you can expect from us is dedicated and continuous feedback to advance your projects, intros to MCEI partners who can help you grow, and a fun and rewarding atmosphere to create something new in class. Do not miss out on our Startup Lounges and Founder Talks throughout the semester to maximize your Startup experience.

Side note on choosing MAN 631 vs. alternative courses (i.e., when it is advisable not to choose MAN 631):

  • If you expect a more traditional lecture setting paired with team work, join MAN 630 Introduction to Entrepreneurship in Fall instead. This is also recommended when you hate uncertainty, lack of structure and cannot endure doubts about the results of your work.

 

Learning Outcomes

This course focuses on five main aspects:

  • encouraging students to investigate and experience creative processes to generate and assess entrepreneurial ideas (including team building)
  • preparing students to turn innovative ideas into business models
  • testing innovative ideas and business models in the real world
  • enabling students to develop their own startup including a business plan (15 pages + appendix) + pitch presentation
  • having an early stage business by the end of this course that will be evaluated by an expert jury

By the end of this module, students will have...

  • explored and developed their own entrepreneurial creativity.
  • their own startup team.
  • an advanced startup idea that tackles a real customer need.
  • gained skills in building, testing and improving business models.
  • a pitch deck and brief business plan on their startup idea for following up on the project.
  • presented and defended the concept of their project in front of an expert jury.
  • gained financing opportunities to pursue their venture (depending on performance).
  • gained lots of feedback on their personal and professional development in real life settings.
  • developed skills and abilities that can be applied to improve their effectiveness in the rest of their studies and in their lives – including team building skills. 

 

Registration & Final Course Decision

Please register via the Student Portal prior to Kick-off (Session 1). Please make sure that you register both for the MAN 631 "Lecture" and "Exercise" (registration is open from August 1, 2023). The exercise class of MAN 631 is designed to arrange individual feedback meetings with the MAN 631 teams throughout the semester. Feedback meetings will be arranged with each team individually depending on the time availability of the teams. Further information will follow in Session 1.

Students with various backgrounds are essential to this class! Everybody is welcome to sign up and apply! In case there is a conflict with your faculty/area of study, please let us know (you have to make this request to your area of study if not listed in the module catalog) and we will try to sort things out and get you on board!

Note: Kick-off participation (Session 1) is absolutely mandatory for team building. No exceptions will be made. Not participating in the Kick-off leads to immediate de-registration from course. Letting your team down along the way (i.e., dropping out) will lead to failing this class, as the first grading component is assessed in Session 2. Course choices are thus final after Session 1 to make this challenge work. As of Session 2: If you decide to miss out on a session, it is the responsibility of your team. As long as your team is okay with it, we are okay with it. You do not need an individual permit.

We are looking forward to having you in class!

 

Place & Time 

Check the schedule for detailed information.

 

Assessment

Note: This class demands continuous individual and team effort. Results and learnings are highly rewarding but - just like in a real startup - full dedication and commitment to work long hours form an integral part of the experience. If you cannot or do not want to go all in on the experience, we offer electives that resemble more traditional courses with lectures, workshops and team presentations (MAN 630, 632). So lots of offerings to find what suits you best. Past evaluations show that we cannot stress enough that in MAN 631 uncertainty, lack of structure, and serious doubts on what will be the result of all your work is absolutely part of the experience, highly embraced, and eventually leads to great results.  

Grading components:

  • Pitch Presentations (35%) (team)  [Practice Pitch 10%, Final Pitch 25%]
  • Reporting and continuous assessment (35%) (team)  [5 Performance appraisals along the way of 5% each + 10% Final Documentation]
  • Exam (20%) (individual)
  • Peer Evaluation (10%) (individual) - this means you will grade each other on how things went in the team

 

Persons in Charge

Course Coordinator: This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it.

Supervising Professor: Prof. Dr. Michael Woywode

 

Course Load and Language

ECTS: 6

Language: English

 

Readings & Resources

Readings & Resources:

  • Exam-relevant: Blank, S., & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif.: K & S Ranch Publ.  (about 25 copies in the university library)
  • Exam-relevant: Savoia, A. (2022). Pretotype It – How to make sure you are building The Right It before you build It right. 10th Anniversary Edition. Access at: https://www.pretotyping.org/uploads/1/4/0/9/14099067/pretotype_it_10_year_anniversary_edition_pdf_version_1.0.pdf 
  • Maurya, A. (2016). Scaling lean: Mastering the key metrics for startup growth. London: Portfolio Penguin. (about 20 copies in the university library)
  • Osterwalder, A., & Pigneur, Y. (2013). Business model generation: A handbook for visionaries, game changers, and challengers. New York: Wiley & Sons (digital copy available via the university library)
  • Ries, E. (2011). The lean startup: How constant innovation creates radically successful businesses. London: Portfolio Penguin.

Additional Resources:

Course Materials: All course material (where applicable) will be provided via the MCEI Group 'MAN 631 Creativity and Entrepreneurship in Practice (Fall 2023)'. We will not use ILIAS for course materials in this class. We will use ILIAS to conduct online exams. 

Please note: The majority of the work required to develop your own venture (=for this course) has to be performed as a team and between sessions. You have one to two weeks to re-iterate and evolve your startup and business model further. Each session you are required to give a short update about your progress and your milestones. We will provide you with input and feedback to advance your idea and assess your progress.  

 

Preliminary Schedule (Fall 2023). Please check back for updates.

Additional note about the duration of each session: Please note that sometimes not the full time of each session as indicated will be taken. This depends, among other things, on how many students actually attend the course. Further explanations will follow in the first session of the course. If you have scheduling conflicts or questions in advance, please contact the course coordinator.


Session 1 (in class): Start your entrepreneurial journey (Kick-off - mandatory for participating in MAN 631)

September 12 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Introduction
  • Team building

Required readings (before class):

  • Blank, S., & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif.: K & S Ranch Publ. (Chapters 1 and 2)

Note: Attendance required to participate in MAN 631 - no exceptions being made.

 


Team work preparation for Session 2 

Task: 

  • Within your teams, create a long list of startup ideas
    • What are eminent problems you can identify?
    • Who has these problems (B2C, B2B)? 
    • What are possible solutions?
    • Why can you provide these solutions to the identified problems best?
  • Narrow your long list down to a short list of the 3 most promising problems and their possible solutions. 

Deliverables in Session 2:

  • Long list of startup ideas (about 50 will do)
  • How did you choose your ideas? Why?
  • Short list of the 3 most promising problems and their solutions (i.e., startup ideas) 
  • Please present these in a coherent presentation (ppt or PDF)

Assessment of your progress in Session 2: 5% of overall grade

Required readings:

  • Blank, S., & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif.: K & S Ranch Publ. (Chapters 3 to 7)

 


Session 2 (in class): Introduction to Design Thinking

September 19 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Assessment of your preparation of deliverables I (see above, 5% of overall grade), each team: 3-5 min presentation + Q&A/ feedback
  • Introduction to Design Thinking and working with Design Thinking methods

 


Teamwork preparation for Session 3

Task:

  • Identify the critical hypotheses that your 3 ideas rest upon
    • Which assumptions do you have about the problems of your potential customers/users?
    • About their current behavior?
    • About their motives?
  • Validate the critical hypotheses for all three ideas with potential customers / users.
    • This will require you to go outside and talk to people.
    • Apply the interviewing tips & tricks learned in the Design Thinking session.
    • Document your learnings.
  • Conduct at least five interviews per idea. Remember: even though you already have a solution in mind, at this point it’s about understanding the customer/user without presenting your idea. You might be surprised that you get 10 new ideas for how to better solve the (real!) problem.
  • Experiencing doubts about your ideas is highly appreciated – they point you toward the most crucial assumptions behind your idea and allow you to pivot from what does not work to what can work.
  • Do not be scared to iterate or restart the process if you come across better opportunities than on your short list.

Deliverables in Session 3: 

  • Your hypotheses per idea
  • The learnings from your interviews (>15)
  • Please present these in a coherent presentation (ppt or PDF)

Please note: Experiencing doubts about your idea is highly appreciated - you are pivoting from what does not work to what can work.

Required readings: 

  • Blank, S., & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif.: K & S Ranch Publ. (Chapters 8 to 12)

 


Session 3 (in class): Customer Validation

October 4 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Assessment of your preparation of deliverables II (see above, 5% of overall grade), each team: 3-5 min presentation + Q&A/ feedback
  • Customer Discovery 
  • Customer Validation
  • Problem-Solution Fit

 


Teamwork preparation for Session 4

Task: 

  • Decide on your preferred idea. Provide reasoning for why you decide to go forward with this idea and not the others.
  • Identify and validate your next most critical hypotheses for your selected idea.
    • You can also consider hypotheses that might arise from your business model (channel, customer relations, revenue).
    • Talk to potential customers/users/experts (at least 10 interviews).
    • If you want, you can use first prototypes.
    • Remember the interviewing tips & tricks learned in the Design Thinking session.
    • Document your learnings.
  • Experiencing doubts about your ideas is highly appreciated – they point you toward the most crucial assumptions behind your idea and allow you to pivot from what does not work to what can work.

Deliverables Session 4: 

  • Your selected idea
  • Your (iterated) hypotheses
  • The learnings from your interviews (>10)
  • Please present these in a coherent presentation (ppt or PDF)

Required readings: 

 


Session 4 (in class): Rapid Prototyping

October 17 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Assessment of your preparation of deliverables III (see above, 5% of overall grade), each team: 7 min presentation + Q&A/ feedback
  • Rapid prototyping – bring your creativity and be ready to build stuff

 


Teamwork preparation for Session 5

Task: 

  • Build/improve your prototype(s) to test the most crucial elements of your solution.
    • Your prototype can be a physical prototype (e.g., laser cut, 3D print, cardboard model), a mock-up, a landing page or even a well-developed customer interaction story for a service.
    • Remember the rapid prototyping learnings - do not spend too much effort on the details.
  • Validate your prototype(s) with your potential customers/users.
    • See how people interact with your prototype(s).
    • Learn how to improve your prototype (and idea!) and what your customers really need and appreciate about your solutions.
    • Document your learnings.

Deliverables next session: 

  • Your prototype(s).
  • Learnings & documented customer validation cases (> 15)
  • Please present these in a coherent presentation (ppt or PDF)
  • Preparation for (individual) exam based on the course literature Blank, S., & Dorf, B. (2012). The startup owner's manual: The step-by-step guide for building a great company. Pescadero, Calif.: K & S Ranch Publ. and Savoia, A. (2022). Pretotype It – How to make sure you are building The Right It before you build It right. 10th Anniversary Edition.

Please note: If you experience doubts about your ideas, you can always go back and try another idea or pivot! 

Suggested readings (your choice of what helps you improve):

  • Maurya, A. (2016). Scaling lean: Mastering the key metrics for startup growth. London: Portfolio Penguin.
  • Osterwalder, A., & Pigneur, Y. (2013). Business model generation: A handbook for visionaries, game changers, and challengers. New York: Wiley & Sons.

 


Session 5 (in class): Business Model

October 31 Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Exam (30min, 20% of your grade)
  • Assessment of your preparation of deliverables IV (see above, 5% of overall grade), each team: 7 min presentation + Q&A/ feedback
  • Business Models
  • Business Model Canvas
  • Market Research & Competitor Analysis
  • Financial Planning

 


Teamwork preparation for Session 6

Task: 

  • Conduct a market and competitor analysis
  • Improve your product-market fit and consider business model implications (this probably implies conducting more interviews)
  • Prepare a first financial plan
  • Prepare a first version of your pitch presentation & pitch deck for your startup
  • Serious business - take into account best practices and examples, talk to entrepreneurs (e.g., in the Startup Lounges)

Deliverables next session: 

  • First version of your pitch presentation & pitch deck, including market and competitor analysis, and financials

Suggested readings (your choice of what helps you improve):

  • Pitching Hacks Bible 
  • Maurya, A. (2016). Scaling lean: Mastering the key metrics for startup growth. London: Portfolio Penguin.
  • Osterwalder, A., & Pigneur, Y. (2013). Business model generation: A handbook for visionaries, game changers, and challengers. New York: Wiley & Sons.

 


Session 6 (in class): Pitch Preparation

November 14 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Assessment of your preparation of deliverables V (see above, 5% of overall grade), each team: 7 min presentation + Q&A/ feedback
  • Pitching Workshop
  • Feedback opportunity with coaches

 


Teamwork preparation for Session 7

Task:

  • Finalize your pitch deck
  • Improve your pitch - Practice!
  • Improve your product-market fit and business model (also consider implications for your financial plan)

Deliverables next session: 

  • (Almost) final pitch deck
  • Improvements in pitch presentation 
  • Demonstrate overall progress

 


Session 7 (in class): Pitch Finalization

November 28 Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am - 2.45pm

Topics:

  • Assessment of your practice-round pitch (see above, 10% of overall grade), each team: 7 - 10 min presentation + Q&A
  • Feedback opportunity with coaches

 


Teamwork preparation for Session 8:

Task:

  • Improve your pitch deck
  • Improve your pitch - Practice!
  • Improve your product/solution fit and business model 
  • Demonstrate progress

 


UPDATE! Session 8: The Final Pitch

December 1 | Mafinex Technology Center (Julius-Hatry-Straße 1, 68163 Mannheim) | 10.15am ~ 12.15pm

 

You are going to pitch your idea in front of an expert jury (25% of your grade). 

  • Final pitch, each team: 7 - 10 min presentation + Q&A

 


UPDATE! Startup Lounge

December 5 | Agatha Cafe (Julius-Hatry-Straße 1, 68163 Mannheim) | from 7:30pm

 

We will find the best startup from the course and see some teams pitch again in the public event.   

 


Final Deliverable

January 7, 2024

Hand in your project documentation in form of a brief (15 pages + appendix) reporting (10% of your grade). Submission deadline is January 7, 2024 by 11.59pm (no exceptions will be made) to This email address is being protected from spambots. You need JavaScript enabled to view it.

 


 

Contact

E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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