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MGT 352 Entrepreneurship: New Venture Process

This course is an introduction to entrepreneurial practices with an emphasis on learning to find business ideas, to evaluate their potential, and to recognize the barriers to success. The course provides exposure to the stresses of a start-up business, uncertainties, and behaviors of entrepreneurs. The course is designed to appeal to individuals with a strong desire to become entrepreneurs, those who intend to work for start-up companies, those interested in the venture capital industry, and those interested in professional businesses supporting entrepreneurial firms.

 

MKT 355: Entrepreneurial Marketing

This course re-introduces and reframes the principles of marketing. It takes the view that “entrepreneurship” involves the discovery, evaluation, and exploitation of opportunities through the creation of something new that has value, without regard to available resources; and is highly applicableStudent_7480small to both corporate and startup environments. Specifically the course covers the following conceptual and skill areas:

  1. Value creation (finding an uncontested market space and then developing or repositioning a product or service to fill that space)
  2. Customer creation (validating that the ‘right’ market has been found for the product or service developed, and that significant value has been added)
  3. Community creation (developing and then population a brand community around product or service)
  4. Transaction creation (the review of various entrepreneurial marketing strategies that can be executed to generate sales)

The course provides significant content in these areas with respect to ‘most recommended practices,’ but is primarily experiential. Students work in teams to identify an opportunity for a new product or a new product category and then develop an entrepreneurial marketing strategy to exploit that opportunity.

MKT 480 – Entrepreneurship Capstone Experience

The ramifications of a global market, rapidly changing technology, and volatile macro-market conditions have made true entrepreneurship critically important. True entrepreneurship goes beyond simply starting a business to starting an innovative business that rethinks, restructures, or reallocates the way resources are used to produce products and services that better solve problems societies face.Stduent_7326small

The fundamental objective of this course is to assist students seeking to engage in this type of entrepreneurship. This is the final course required for a minor in entrepreneurship. It is expected that students have at least one business concept it has developed and vetted in its other courses. The primary focus of this course is to aid those students to get their business concept as close to launch as possible, or if already launched to get as closed as possible to accelerated growth. In addition, as with any capstone course, key concepts and best practices showcased by all the courses in the entrepreneurship minor will be reviewed and used where applicable.

Put your entrepreneurial ideas to the test

 Broad Business Plan Competition

The IEI’s premier, four-year-old event showcases entrepreneurial student talent at both the graduate Student_7952smalland undergraduate level. A number of teams from this competition have moved forward with business launch and competed in national competitions. As the University’s entrepreneurship efforts grow and become more inclusive, we see the Broad Business Plan Competition as the gateway for all students to test business concepts. The competition allocates $12,500 in prize money annually to student teams to help seed their budding ventures.

Teams have:

  • Competed in national competitions
  • Launched endeavors

SXSW Interactive Student Startup Madness

Michigan State students have represented the campus three years in a row in the finals at the prestigious Student Startup Madness event at the South by Southwest Interactive conference in Austin, Texas. The top eight teams are invited to present after hundreds of entries and multiple rounds of judging. At least one member of each team accepted from MSU has participated in the IEI’s Entrepreneurship Capstone program led by the faculty director.

Our teams:

  • 2015:TechTwurl—www.techtwurl.com
  • 2014:Carbon Cash—www.carboncash.co
  • 2013: TempoRun – www.temporunapp.com

The IEI also lends support to a number of trips and events per year that highlight entrepreneurship:

 Sponsored trips:

It is our fundamental belief that creating a startup is a full contact sport. In this sprit the IEI annually sponsors travel or backing to assist students in competitions and to attend conferences critical for their development as innovative thought leaders. Recent sponsorships Included:

  • SXSW student team support – 2013-15
  • Global Venture Labs Investment Competition (GVLIC) – 2014-15
  • 2014 Annual Collaboration for Entrepreneurship Conference

 

Sponsored events:

  • Partnered with Spartan Innovations in 2014 for an annual sponsorship of Start Garden, a startup investment fund in Grand Rapids focusing on pre-revenue seed funding for nascent businesses.
  • Camp Enterprise is a weekend summer event at MSU where the Institute’s faculty director hosts a group of Detroit Public Schools high school students to teach them about entrepreneurship.
  • Hatching, part of the Institute’s outreach effort to support the startup ecosystem in Greater Lansing was co-founded by the Institute’s managing director. Each month a business pitch is awarded $1,000 to move its idea forward, and then competes against the other winners at the end of the year for a $10,000 prize.
  • Broad Week highlights innovation, creativity, and entrepreneurship for second-year MBA students using experiential learning and partnerships with corporations to help students identify solutions to a business problem.

 

 Invigorate your entrepreneurial spirit

  • The Hive is the newest asset to MSU’s entrepreneurial ecosystem. The 4,000-square-foot facility created through a partnership between the Broad College of Business, College of Engineering, College of Communication Arts & Sciences, Residential & Hospitality Services, and the MSU Innovation Center, is a “hybrid” classroom that supports traditional teaching, and also serves as a functioning idea incubator and co-working space. Students can enroll in a course offered in the space, join one of several approved student groups, or interview with the IEI managing director to outline milestones for the growth of their idea. The space is dedicated to maintaining a spirt of innovation and cross-discipline creation.
  • The GreenLight Boot Camp is an annual event hosted by Spartan Innovations with the IEI Managing Director serving as the one of the lead instructors. This three-day intensive course focuses on the basics of creating scalable businesses, serves as a training platform for Spartan Innovation fellows and interns, and is open to business owners in the local community.
  • “Innovate State” is a new speaker series hosted monthly during the school year. The IEI, in partnership with Spartan Innovations and the Office of the Vice President for Research & Graduate Studies, invite keynote speakers who have recently launched, or failed, a startup to speak to students about the experience of new venture creation.

 


Eli Broad College of Business

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