I. Course Title: Applied Venture Lab
II. Course Number: ENTR 390
III. Credit Hours: 1 (up to 3 hours) credit
IV. Prerequisites: None
V. Course Description:
This course serves to provide students hands on experience with the techniques and
skills essential to successful innovation. A milestone based, lab orientation, the
Applied Venture Lab course will be a one credit hour journey for students to build
their entrepreneur toolbox. One credit hour, able to be repeated for a total of three
credit hours.
VI. Detailed Description of Content of the Course:
ENTR/MGNT 390 provides students an opportunity to develop an entrepreneurial mindset,
survey their ability to execute entrepreneurial ventures, learn and practice essential
business formation and management principles, and/or be shepherded through the venture
creation process.
Depending on the interests and current ability of the student, content and activities
may include, but are not limited to:
- 1) Pathways to Start-up
- 2) Family Business Essentials
- 3) Intrapreneurship- building from the inside
- 4) Proper Business Planning
- 5) Conducting Secondary and Primary Research
- 6) Researching Business Legal Formation
- 7) Essentials of Design Thinking
- a. Building empathy
- b. Defining and refining needs and problems
- c. Ideation
- d. Prototyping
- e. Testing solutions
- 8) Intellectual Property Foundations
- a. Patenting
- b. Trademarks
- c. Copyrights
- d. Business and Trade Secrets
- e. NDAs, Non-competes, and other contracts
- 9) Financial and Accounting Essentials
- a. Understanding Financial Statements
- b. Breakeven analysis
- c. Estimations and budgeting
- d. Benchmarking, ratios, and controls
- e. Financial modeling
- f. QuickBooks
- g. QuickBooks certification
- 10) Hypotheses creation and testing
- 11) Creating your MVP
VI. Detailed Description of Conduct of Course:
- The course will be taught in a laboratory/experiential format. Class may include the
combination of innovation and entrepreneurial activities that promote synthesis, application,
analysis, problem solving, and communication skills, and may be delivered via combinations
of traditional and online formats.
- Readings may include textbook, lay and peer-reviewed articles, and other resources.
Students may be asked to read, summarize and critique content, and engage in classroom
discussions.
- Venture Lab practicum will emphasize the acquisition and deployment of the knowledge,
skills, and abilities necessary for successful opportunity recognition and venture
execution. Often these practice sets will be focused either upon the students chosen
academic major or career aspirations.
VII. Goals and Objectives of the Course:
At conclusion of the course, the student will demonstrate a greater understanding
of the innovation process and the tools and skills necessary for successful ventures.
VIII. Assessment Measures:
Assessment of the student's success is based primarily on the completion of a set
of tailored agreed-upon milestones created through an agreement between the supervisor
and student.
Review and Approval
August 2020