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.
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 applicable to both corporate and startup environments. Specifically the course covers the following conceptual and skill areas:
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.
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.
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.
Broad Business Plan Competition
The IEI’s premier, four-year-old event showcases entrepreneurial student talent at both the graduate and 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.
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.
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: