Innovation, Markets, and Entrepreneurship

Course leader: Dr Sonia Villarreal de la Garza

Home Institution: Instituto Tecnológico y de Estudios Superiores de Monterrey, México

Course pre-requisite(s): This course is appropriate for undergraduate and master students with a foundation knowledge of economics; and with computer skills for browsing, researching, using social media, and managing productivity software tools.

Course Overview

A practical course targeted to develop an entrepreneurship mindset focused on value creation through innovation and technology development. Students will develop skills for the innovation process by applying Design Thinking techniques to create value, and will learn to define the business model elements to increase the probability of success. 
Through a team project, students will practice and apply creativity tools giving life to a business idea. In each stage of the project, the students will produce relevant deliverables. The intention is to develop specific skills while learning and applying modern technologies. Students will experiment with the business idea, producing and testing prototypes, research on the marketing possibilities of the invention, design the business model, and the metrics to manage and control the startup.

Learning Outcomes

By the end of this course, students will have developed a business model for an innovation designed during the course. Students will also develop the prototype, and validate the business idea in the target market by creating a landing page.

Course Content

Innovation opportunities
Customer Centric Innovation Design Thinking
Prototyping and Pretotyping 
Value Proposal
Metrics: Manage your business towards success
Industrial Property Protection Plan and Licensing
Business Model 
Business Model Validation
Establish the Roadmap
The Pitch


Dodgson, M., Gann, D. M., & Salter, A. (2008). The management of technological innovation: strategy and practice. Oxford University Press.
Recommended Reading
Copeland, P., Savoia, A. (2013). Entrepreneurial Innovation at Google. Retrieved Oct 30 from
D'Andrea, K. (2013). Lean startups on the rise. Long Island Business News, Retrieved from
Daniel, A. (2007). A MAN OF BIG IDEOS. ASEE Prism, 16(6), 34-37. Retrieved from
Denning, P. (2013). Design Thinking. Communications of the ACM, ISSN 0001-0782, 12/2013, Volume 56, Issue 12, pp. 29 – 31
Johnson, E. J. (2012). Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers - By Alexander Osterwalder and Yves Pigneur. Journal of Product Innovation Management, 29(6), 1099-1100. doi:10.1111/j.1540-5885.2012.00977_2.x
Kerr, W.R., Nanda, R., & Rhodes-Kropf, M. (2014). Entrepreneurship as Experimentation. Journal of Economic Perspectives, 28(3), 25-48. doi:
Kumar, S., T.N. (2008). Blue ocean strategy: How to create uncontested market space and make the competition irrelevant.South Asian Journal of Management, 15(2), 121-124. Retrieved from
Powell, S. (2007). Spotlight on Edward de Bono. Management Decision, 45(6), 1058. doi:

Instructional Method

Project Oriented Learning, collaborative teamwork, support videos, handouts, team oral presentations, discussions, articles and readings from major journals.

Required Course Materials

A laptop computer is required with Internet connection for browsing and Office or any productivity tool.


Team project 60%
Classroom activities and quizzes 20%
Exam 20%