Digital Entrepreneurship & Innovation

Entrepreneurship and innovation are not only central drivers of the development and implementation of new products or technologies. They are also core processes in the emergence of startups and the strategic transformation of established organizations - and thus indispensable for their long-term survival.

This relevance of entrepreneurship and innovation also applies to digital products and data-driven business models and the associated digital transformation of the economy and society at large. At the same time, the increasing digitization also creates new conditions for entrepreneurial initiatives and innovation processes (e.g., startups initiated on digital platforms).

In this module, students acquire two complementary approaches for shaping entrepreneurial processes in the digital age: the currently probably most popular "Lean Startup" method as well as the already long-established business plan approach.

Entrepreneurial experimentation (Applying “Lean Startup”)

• Students understand the central concepts and tools of the "Lean Startup" method.
• Students apply the "Lean Startup" method to develop, test, evaluate, and adapt business models.
• Students apply relevant methods and tools to identify, evaluate, and prioritize market opportunities.
• Students can theoretically situate and critically reflect the “Lean Startup” approach (e.g. advantages and disadvantages).

Entrepreneurial planning (Crafting a business plan)

• Students understand the importance of a business plan for the day-to-day entrepreneurial activities and know the central elements and structure of a business plan.
• Students can apply concepts, methods, and tools to create relevant parts of a business plan.
• Students can convincingly "pitch" a business plan to selected stakeholders.
• Students can theoretically situate and critically reflect the business plan approach (e.g. advantages and disadvantages).