MSc (TechInnovation)

University of Galway

This MSc in TechInnovation (Distance Education) course is a one-year full-time entrepreneurship development programme that aims to fill the gap in terms of entrepreneurship/intrapreneurship/innovation skills identified by small and large companies focused on exploring the commercial potential of solutions to identified industry needs across a wide range of domains. The aim of this course is to teach people how identify commercial needs, respond to the need in the form of a high level solution, test the viability of that solution, develop a commercial repose and create a company or a new business unit within an existing company, with a particular focus on innovation-driven enterprises that can scale up. We have chosen the successful "Disciplined Entrepreneurship" 24-step process from MIT as the basis for our approach. The course will include working through issues of market analysis, technology viability assessment, competitive positioning, team building, product lifecycle planning, marketing strategy, sales channel analysis, and with a strong emphasis on the entrepreneur/intrapreneur as a salesperson. Business plans will be developed based on the 24 steps, and will include an executive summary, vision and values, market analysis/segmentation and competition, a product and manufacturing plan, a sales plan, a financial plan, and a marketing plan.Course OutlineThe following topics and will be covered in our taught modules and expanded with regard to a selected idea/innovation/need:Introduction to innovation/needs findingPrimary market research and data triangulationProblem areas and existing solutionsArea analysis and stakeholdersWeighing factors and filtering needsNeeds presentation by individual students and associated posterTeam formation on selected needNeeds brainstorming and introduction to product designOrganising and selecting conceptsGo-to-market basicsLegal affairs basicsBusiness modelsPresentation on concept development overviewResearch and development strategyExploration of prototyping facilitiesExploration of technology developmentIntellectual property strategyFinancial modellingPrototype evaluation designGo-to-market strategyFunding sources venture capital and angel fundingQuality systems and assuranceLicensing and alternate pathwaysCareer OpportunitiesThis course is suitable for those who have a business idea and wish to explore the full potential through a structured approach. It will help to guide students and increase their skills, to share best practices in entrepreneurship and to accelerate innovation maturation and transfer into business. It will ideally place students to fill the entrepreneurial need in the West of Ireland and equip graduates with the skills required to become integral members of innovation driven enterprises. Programme participants will have the benefit of an experienced team who will help them to meet their goals in terms of entrepreneurial and innovation skills acquisition.

College of Science and Engineering