ENGINEERING ENTREPRENEURSHIP AND IPR

Course Code: UCEST206

Course Name: Engineering Entrepreneurship and IPR

Course Prerequisite: Nil

Course Objectives:

1. Develop a framework for identifying, curating and validating engineering-based business ideas.
2. Learn essential tools for understanding product-market fit and customer needs.
3. Create a comprehensive business plan for a new venture.
4. Gain foundational knowledge of Intellectual Property Rights (IPR) and their importance for startups.
5. Develop skills for prototyping, stakeholder engagement, and team collaboration.

 Course Outcomes:

At the end of the course students should be able to:

CO1: Gain foundational knowledge of Innovation and Entrepreneurship, Intellectual Property Rights (IPR) and their importance for startups.

CO2: Develop a framework for identifying, curating and validating engineering-based business ideas.

CO3: Learn essential tools for understanding product-market fit and customer needs.

CO4: Create a comprehensive business plan for a new venture.

CO5: Develop skills for prototyping, stakeholder engagement, and team collaboration.

Syllabus:

Module 1:

Introduction to Ideation, Innovation & Entrepreneurship: What is Ideation?, Understanding Innovation, Frameworks for Innovation, The Entrepreneurial Mindset, Starting a Business, types formation statutory compliances, Resources for Aspiring Entrepreneurs

Introduction to Intellectual Property Rights (IPR): Types of IPR: Patents, trademarks, copyrights, trade secrets, Strategies for protecting intellectual property based on the type of innovation, Role of IPR in securing funding and competitive advantage.

Importance of building a strong team: Identifying roles, Skill sets, Team dynamics

Identifying Pain Points and problem statement: Idea Generation Techniques, Developing and Refining Ideas, Develop strategies for bringing your innovation to life.

Module 2:

Problem and solution canvas preparation: Orientation and canvas introduction,  Customer needs assessment, Market segmentation, Value proposition, Competitive analysis, Market entry strategy, Market validation, Regulatory and legal considerations

Customer profiling: Review of market research, Customer segmentation, Customer profiling, Persona development, Validation and feedback, Prioritization and selection, Communication and messaging.

Competitor analysis: Identify competitors, Competitor profiling, SWOT analysis, Market positioning, Customer feedback and reviews, Pricing analysis, Differentiation strategy, Benchmarking and improvement

Module 3:

Business plan preparation: Business plan framework, Market analysis, Product/ service description, Marketing and sales strategy, Operations plan, Financial projections, Risk management.

Prototype development plan preparation: Prototype requirements analysis, Technical specifications, Development approach, Development timeline, Resource allocation, Testing and quality assurance, Iterative development and feedback loop, Documentation and version control.

Module 4:

Prototype development Stakeholder engagement strategies: Investors, Partners, Customers, Advisors & Mentors.

References:

1. The Engineering Handbook Richard C.Dorf, CRC Press, 2nd Edn, 2004
2. The Innovator’s DNA, Clayton M. Christensen and Jeffrey H. Dyer, Harvard Business Review Press; Revised edition (June 4,2019)
3. Start with Why, Simon sinek, Portfolio, Reprint edition (December 27, 2011)
4. Business Model Generation, Alexander Osterwalder, & Yves Pigneur, Wiley 2010
5. The Engineering Entrepreneur: A Practical Guide to Starting and Running a Successful Engineering Business in  India,  Saibal Gupta and Ashok Jhunjhunwala, Sage Publications 2011
6. Innovation and Entrepreneurship for Engineers Bharat Bhushan and Seema Bhushan, CRS Press 2016
7. Indian Patent Law, P. Narayanan, Eastern Book Company, 2nd edn/ 2020
8. The Law of Copyright and Designs, B.L. Wadehra, Universal Law, 5th edn/2010
9. Intellectual Property Rights (Including IPR in the Digital Age), Prabuddha Ganguli, Tata McGraw-Hill Education, 2001
10. The Startup India Manifesto: A Guide to the Indian Startup Ecosystem, Rashmi Bansal and Deepinder Goyal, Westland Publications, 2020