Class of 2020 Uses Two On-Site Weekends to Fine-Tune Business Ideas For Team Projects

Ever since starting its Executive MBA journey in April 2018, the Class of 2020 in our Executive MBA in Innovation & Business Creation has made great strides. Participants are currently focusing their efforts on fine-tuning their team projects: They are conducting interviews with potential clients and users, constructing prototypes, and validating their business hypotheses with the goal of constantly improving their product or service.

All team projects officially kicked off during an on-site weekend from 17 – 20 May in Munich under the direction of Prof. Hana Milanov (TUM) as well as Oliver Bücken, Simon Kratzer and Juliane Schuster (UnternehmerTUM). After team formation into nine groups at four participants each, an ideation workshop provided effective brainstorming tools for zeroing in on initial business concepts.

Participants received important tools for identifying consumer needs in the workshop “Empathy & Listening & Questioning” with Dora Panayotova. The lecture on “Interview Design, Market Research, Ecosystem Mapping” by Prof. Hana Milanov provided the fundamentals for conducting insightful market studies.

In the next step, participants evaluated their interviews with potential customers during the on-site weekend from 31 May – 3 June. The teams also learned how to formulate and validate hypotheses regarding their business models in the session “Problem-Solution-Fit” with Oliver Bücken. The high-tech MakerSpace workshop in Garching hosted a one-day workshop on rapid prototyping featuring a variety of experienced trainers teaching the fundamental tools of product development.

The weekend concluded with a one-day workshop on “Key Team Skills: Feedback and Coaching” by Katja Bossert, which also paired each of the nine teams with a business coach. The moment for all teams to present their final business plans will arrive on July 20 as part of their final program score. We wish all participants the best in this critical stage on their way to certification as Executive MBAs in Innovation & Business Creation.

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