Talk in the Luda’s Frugal Innovation Lab.
The NUS Faculty of Engineering launched a “Lean Launch Pad” project (web) and a Frugal Innovation Lab (web) headed by Visiting Professor Luda Kopeikina (web), on the basis of the Lean Launch Pad project by Steve Blank, built on the Business Model/Customer Development stack.
“LaunchPad is a unique action learning project that assembles cross-disciplinary teams of graduate and Ph.D. students from the Faculty of Engineering & School of Business. Each team will work with a selected technology developed at NUS that has a promise to generate a large market impact. The students will learn how to actually start a high-tech company based on a particular technology. …”
“The objective of the Frugal Innovation Lab is to build solutions for specific pre-selected problems in the emerging Asian markets such as India and Indonesia.The intent is to create sustainable companies if a solution can be developed and demonstrated. …” . This semester, the selected projects correspond to potato harvesting, brackish water, post-harvest transfer, cooling materials and fish farming.
The intro to the BMGEN canvas presents the business model canvas (web) for designing and assessing business models. Business model innovation and industry changes are illustrated with examples such as Nespresso, Cirque du Soleil, and SunEdisson. Design thinking attitude and customer centricity is also emphasized for exploring, prototyping and testing business models.