The exploration of ideas is the origin of new business models
12 de July de 2019
12 de July de 2019
The third session of EAE Entrepreneur Experience consisted of a practical workshop entitled "Design Thinking, a Roadmap for Generating Ideas" (part 2). The session was held at the EAE Lab incubator at the School's Príncipe de Vergara Campus.
The EAE Entrepreneur Experience series is made up of five sessions designed to boost the entrepreneurial capacity of the School's students. The first session was entitled "What does being an entrepreneur involve? Have I got what it takes to be an entrepreneur?" and it focused on the identification of new business opportunities and key factors for developing sustainable initiatives. The second session, entitled "Design Thinking, a Roadmap for Generating Ideas (PART 1)" looked at the use of Context Mapping: which factors are involved in choosing an ecosystem in which we can start exploring and design research. This was followed by the third instalment, "Design Thinking, a Roadmap for Generating Ideas (PART 2)", which explained the use of the Triple Canvas method for designing the first business prototype.
One of the exercises in the third session involved a stakeholder mapping activity in which the students were divided into groups to share ideas and reflections on new value propositions in the senior citizen ecosystem. Participants also discussed the Lean Start process and the "bird in the hand" principle for entrepreneurial ventures, in line with the philosophy of effectuation.
The dynamic working session strive to provide responses to the problems faced by senior citizens, generally quite far removed from digitization and new technologies. A target market from which business models have emerged based on the concept of strategic stakeholders, in which the aim is to generate value and, as a result, happiness. Moreover, by generating empathy and problem solving, the participants tackled the challenge of identifying the differential feature compared to the competition with respect to generating new value propositions.
Exploring the ecosystem (fieldwork with interviews and strategic questions), identifying and understanding the stakeholders, analysing opportunities and formulating a value proposition were the key factors in the workshop "Design Thinking, a Roadmap for Generating Ideas". This leads on to the subsequent phases of Design Thinking, such as ideation, developing the MVP (Minimum Viable Product) and then implementing it. In any case, it is essential that the model is viable from an economic, market, technological and team perspective, as well as being scalable so that it can grow as the project progresses.
The last part of the session focused on the main techniques applied to the exploration phase: the Customer Journey. With this technique, we aim to understand the different emotions that a customer goes through over the course of an experience that we want to improve. The output then provides the base from which we identify new business opportunities and formulate new value propositions.
The aim of this series of five sessions of EAE Entrepreneur Experience is to create teams for the new edition of the EAE Lab incubator. The fourth ("Startup Creation Methodology") and fifth sessions ("How does a Venture Capitalist decide which startup to invest in?") will be run soon, organized by EAE Business School's entrepreneurial launchpad.