Description

The Midwest I-Corps Node is piloting a new online workshop to help you explore the commercial viability of your deep tech innovation idea/IP. We teach the Lean LaunchPad approach (also called Lean Startup), a process to help you systematically test key assumptions about your technology and the customer problems it might be able to solve better than current alternatives. This assessment of “technology-problem fit” is the critical first step toward commercial success for any technology venture. A more detailed overview of workshop content is provided in the following page.

Learning objectives:

• Develop familiarity with Lean LaunchPad concepts and tools such as customer discovery, value proposition design, and business model canvas
• Understand customers’ problems (“pain points”) from THEIR perspective
• Map your stakeholder/customer ecosystem to understand customer roles, requirements and decision processes
• Identify modifications to your technology assumptions 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 to move your idea forward
• Explore the size of your potential market, assess the competition, and identify a beachhead (first) target market

Course benefits:

• Gain valuable market insight to inform the next steps in your research and/or development
• Become eligible for the NSF I-Corps National Teams program and $50,000 grant for qualifying technologies and teams
• Get prepared for application to SBIR/STTR or other commercialization grants
• Develop network connections and receive mentoring from experienced industry experts and entrepreneurs
• Develop the entrepreneurial mindset and toolset needed for a career in academia, industry, startups, or government

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.