Description

The University of Minnesota MIN-Corps program is proud to work with Launch Minnesota, an initiative of MN-DEED, helping you translate your innovation to a fundable, high-growth business. We use the Lean Startup (also called Lean LaunchPad) approach, a structured process to quickly assess and refine business concepts, thus avoiding costly mistakes and accelerating your progress to market launch.

Learning objectives:

• Develop familiarity with Lean LaunchPad concepts and tools, such as value proposition design, business model canvas and customer discovery
• Map your stakeholder/customer ecosystem to understand customer roles, requirements and decision processes
• Understand customers’ problems (“pain points”) from THEIR perspective
• Determine the modifications to your solution required to achieve product-market fit
• Build connections to the commercial ecosystem (i.e. customers, suppliers, funders) for your innovation
• Develop a commercialization roadmap identifying key milestones and required resources
• Determine the size of your potential market, assess your competition, and select your beachhead (first) target market

Course benefits:

• Value Proposition Design Certificate and digital badge from the University of Minnesota Carlson School of Management Holmes Center for Entrepreneurship (upon completion of course requirements)
• Robust preparation for SBIR/STTR (supplementing MN-SBIR), Launch Minnesota and other innovation grants
• Nomination to NSF I-Corps National Teams grant (for qualifying university connected technologies and teams)
• Mentoring from experienced industry experts and entrepreneurs
• Coordinated access to resources and expertise statewide with Launch Minnesota

Outline

Module 0: Program Introduction

• Course Overview
• Lean Startup Introduction

Module 1: Product-Market Fit

• Business Ecosystem
• Value Proposition Canvas
• Solving Customer Problems

Module 2: Customer Discovery

• Customer Segments
• Problem Interview
• Solution Interview

Module 3: Pathway to Commercialization

• Business Model Canvas
• Technology Adoption
• Commercialization Milestones

Module 4: Market Assessment

• Market Sizing
• Competitive Assessment
• Beachhead Market

Warning:

This hands-on program takes work. In addition to the course deliverables, you are expected to “get out of the building” (virtually or physically, if safe) to interview and observe customers and stakeholders. Direct market interaction is vital to fine-tuning your value proposition, your business model and your commercialization milestones.