Day 3

Theme Title: “Don’t let people tell you your ideas are stupid. If you’re really passionate about something, find a way to build it.”

– Dennis Crowley, co-founder of Foursquare

INNOVATION DAY 3 AGENDA

An immersive 1-day dive into business concept development strategy.

Take one day to inspire students, channel that inspiration into relevant new business concepts, and learn new innovation tools along the way. The overall focus for the day will be put on practical activities depending on each team goal for the day.

Planned Schedule:

Total time needed: 7 hours, including catering, breaks, and network moments.
Kick-off at 8:45 AM and closing at 15:45 PM.


Get ready for funding your product/service launch

Forecast sales by making assumptions. Try to be a convincing entrepreneur.

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Forecasts are important to

• Accounting and finance for budgeting
• Sales for setting sales goals
• Product and logistics for planning equipment, storage, transportation, etc.

Opportunities to start funding your idea

  • Discuss with stakeholder your market potentials.
  • Prepare a draft for Innovation Norway.
  • Have you done research you want to patent?
  • Exploit the Technology Transfer Office at NTNU.

Pitch your idea

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Formulate 3 levels of depth to pitching your idea

5 seconds,

30 seconds,

5 minutes

(Credit to Ari Blenkhorn for this simple breakdown).

The 5 second version, also known as the elevator pitch, is the most concise single sentence formulation of whatever your idea is.

Refine, refine, refine your thinking until you can say something intelligent and interesting in a short sentence. “My idea? It’s a way to make car engines twice as efficient, and 5 times as powerful.”

This can be done for any idea: Never allow yourself to believe your thing is so complicated and amazing that it’s impossible to explain in a sentence.

If you were to use this excuse on me, I’d tell you it means you don’t have enough perspective on how your idea fits into the world.


Back to the future.

WHAT WILL WE LAUGH AT WITHIN 20 YEARS?

Fire up your stakeholder imaginations with a short discussion. Share one product or service that they think will soon disappear.

Example“That it takes years to learn a new language.” – “Fossil-fuel-powered cars with human drivers.”

How is your idea contributing to creating social value?

Reflect on decisions made and remember with great power comes great responsibility.

 

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Closure…?

Not really we are running this event every year and we would like you to participate as a newly emerging or successful entrepreneur to help us improve ourselves and the world.

Expectations!

Everyone’s last impression of the event should be: “Wow, what an amazing day! I want to be 100% on innovation from now on!”

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