The process of innovation and entrepreneurship are interrelated. Innovation is the process by which an idea about a new product, service or production method is developed. Entrepreneurship is about pursuing opportunities beyond the immediate control of the entrepreneur or innovator. This module covers the basic principles and practices of these two aspects. It also aims to develop an awareness of the climate for enterprise and the entrepreneurial process for nutraceutical and functional food sector. This module provides students with a systematic framework for innovation and entrepreneurial skills required for successful new venture creation. It also aims to develop an awareness of the climate for enterprise and the entrepreneurial process of the nutraceutical and functional food sector
Introduction to innovation and entrepreneurship Personal characteristics of successful entrepreneurs Individual assessment of interests, skills and personality traits Decision to become an entrepreneur Recognizing opportunities and generating ideas Feasibility analysis Industry and competitor analysis Critical factors for success Writing a business plan - Core elements of a business plan Unique marketing issues Market research Getting financing or funding Strategies for Firm
There will be a lecture series presenting the core content and supported by guest speakers. An entrepreneur will be invited as a guest speaker. Students will be encouraged to discuss and explore raised issues and themes in lectures and will be provided with guidance on further reading on entrepreneurial activity in the Irish economy. Students will undertake their assessment in teams and will have first hand experience of the vision, leadership, creativity and stamina that is required to be a successful entrepreneur.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |