DOI: 10.5176/2251-2039_IE17.24
Authors: Georgy D. Laptev, Dmitry K. Shaytan
Abstract: The high rate of failure of innovation driven entrepreneurial startup projects is caused by usage of management approaches for traditional product development process which concentrate on sequential methodologies and are not transferable to the fuzzy front-end stage of innovation product development with its iterative learning cycles. They must be stimulated or externalized by prototype modules, which can be viewed, explored and understood by customers. The purpose of this paper is to offer and discuss an alternative approach that applies the principles and methodologies utilized in the design field to technology entrepreneurship. On the basis of empirical research and case studies, the paper illustrates application of design methods and tools in management of fuzzy front-end stage of innovation driven entrepreneurial projects. We also share our experience of teaching nascent technology entrepreneurs using a design approach to develop their critical competencies in entrepreneurial management.
Keywords: component: design-driven entrepreneurship; fuzzy front-end of innovation; entrepreneurial competencies.
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