Increasing possibilities brought about by emerging forms of technology and decreasing costs of connecting people to things have not only enabled technological innovations, but have also opened the door to new applications, business models, products and services. Experimentation and calculated risk taking are keys to successfully harnessing the possibilities of today’s most cutting-edge technologies and innovative methods to first build, understand and then redefine how humans and products interact. In this course, student ‘co-founders’ will conceive of and market a new media, physical or technology product designed to fit a market while also allowing them to accelerate and validate a sustainable business model. Students will ‘get out of the classroom’ and put these products into potential customers’ minds. The course will touch upon topics such as how to design a minimum viable product, design a business model, talk and work with customers, and develop a product community. Prerequisite: None.
This practical course will introduce students with knowledge and tools to quickly iterate, validate and gauge business ideas. The course will explore questions such as: How can we validate an opportunity? What is a “value proposition” and how critical is it? What are the most popular business models and can new ones be invented? Why are investors constantly looking for “Product Market Fit”? Why do “Customer Cost of Acquisition” and “Lifetime Value” matter? The course will also provide an opportunity to apply these newly learned methodologies with two projects during the term of the class. The fourteen weeks classes will be divided into two projects where students will work in teams. One project will be focusing on the Chinese market, whereas the second one will be targeting the North American market. For both projects, teams will be experimenting with customers’ feedback, iterating business propositions and identifying key traction factors. At the end of each project, students will present and demo their business idea to their peers and an external audience of entrepreneurs/ business managers in Shanghai. Prerequisite: None Fulfillment: IMA Major Electives; IMB Major Business Elective/Interactive Media Elective; Business and Finance Major Non-Finance Electives; Business and Marketing Major Non-Marketing Electives.
A site for IMA NY Students to find equivalent courses outside of IMA NY
For most students joining IMA in Fall 2022 and beyond, there is a new program structure that affects the categorization of courses on this site:
Any class in any IMA major elective category (ie "Art & Design") refers to the IMA program structure previous to those entering in Fall 2022. If you are in the class of 2026 (most entering Fall 2022 or later), any course in an IMA elective category are generic IMA electives in the new structure.