Demonstrate how idea generation is part of the innovation process. Communicate the innovation techniques that are used in developing prototypes. Show how commercialisation is used to exploit the products of innovation. Identify business start-up strategy. Explain how to produce a feasibility study and business plan. Identify sources of funding and agencies for business assistance. Demonstrate an understanding of the legal issues facing a business.
Idea generation, problem solving and using internal sources of information: Problem solving techniques. Creative thinking. Applications of creative thinking. Solving technical problems. Creative techniques. Morphological Analysis. Mind Mapping
Definitions of Innovation: Innovation Process. Four stages of innovation; Idea evaluation, development and Market. History of innovation. Barriers to innovation.
Technology acquisition: Inventing, improving, modifying copying, licensing and takeover. Business strategy; Strengths, Weaknesses, Opportunities and Threats. Relation between business and technology strategy. Diversification strategy.
Intellectual Property Management: Introduction to Intellectual Property. Form of intellectual property; patents, copyright, design rights, trade marks, knowhow. European patents office. Short term and long term patents.
Commercialisation of New Technology: Technology transfer. Transfer period and deliverables. Technical assistance. Commercial exploitation strategies. Licensing out, Product liability
Enterprise: Start-up strategy. Feasibility study. Marketing. E-business. Funding and business agencies. Enterprise Ireland.
Legal Structure: Type of businesses; sole, limited. Registering name, bank accounts. Taxation. Trade Law. Accounting. EU Directives
Business Planning: Business and personal profile. Market plan and competitive profile. Description of product and services. Product plan. Human resources and organisation structure. Financial plan, critical risks and start-up schedule.
