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Innovation: From Creativity to Entrepreneurship Capstone, Certification link.

  1. Applying Innovation Principles
  2. Applying Creativity Principles
  3. Applying Entrepreneurship Principles

Case: Local Motors.

  1. Began with the concept of co-creation, leveraging a community of enthusiasts and professionals to design vehicles.
  2. Then pivoted to 3D printing, creating the world’s first 3D-printed car, the Strati.
  3. Closure in January 2022. Financial difficulties and the high costs associated with 3D printing large vehicle components were significant factors in their downfall.

1. Applying Innovation Principles

  1. Develops a winning product combination that aligns company capabilities with customer expectations.
  2. Designs appropriate value propositions for target consumer/customer segments.
  3. Leverages industry understanding in the development of innovative strategies.
  4. Ensures a win-win-win strategy for the company, consumers, and the ecosystem by mapping the company’s offerings in a coherent business model within the broader business ecosystem in order to ensure that the integrated business model delivers unique and differentiated value to consumers.

2. Applying Creativity Principles

  1. Initiates creativity frequently and appropriately.
  2. Generates valuable creative products and a pipeline for new creative products.
  3. Establishes team/company norms that allow for creativity, nurture flexible thinking, and persistence.
  4. Effectively communicate new ideas within the company and to external stakeholders.

3. Applying Entrepreneurship Principles

  1. Formulate a compelling entrepreneurial venture mission.
  2. Creates viable entrepreneurial opportunities.
  3. Monitor and manage the ventures health and scalability.