Sustainable Entrepreneurship involves the application of business solutions to societal problems. It entails new ways of creating, capturing, and delivering sustainable impact in a commercially viable way. At the core of the course is the process of developing low-cost experiments to learn about the viability of new processes, products, or services that create, capture, or deliver sustainable impact. There will be multiple iterations of the idea until an attractive variant is identified or an avenue to an adjacent space is explored. The course also familiarizes students with how best to present their market validation information and the initial outlines of their business models or cost-benefit analysis to stakeholders including internal corporate champions or external early-stage investors in the social impact space. The course will guide students in the process of developing and validating new ideas to create sustainable impact either through a new venture or with a company. Students will work in teams, and each team will be assigned to a mentor who will provide the team with feedback over the course of the project.
By the end of this course, students will be able to:
• Identify customer and beneficiary needs through prototyping
• Develop prototypes of their new processes, products or services
• Develop simultaneous trials to get feedback from "lead users" or "early-evangelist" consumers
• Understand how to outline a business model for a new idea
• Present their market-validated new business idea to internal champions, investors and industry experts