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ENTE3534 – Social Innovation & Entrepreneurship 1 Week 24 Seminar – Dr Samuel Olutuase Formative Feedback on MVP 1 Learning

April 16, 2024

ENTE3534 – Social Innovation & Entrepreneurship

Week 24 Seminar – Dr Samuel Olutuase

Formative Feedback on MVP

Learning Objectives

Today’s session affords you the opportunity to Present your MVP, and receive formative feedback which will help you improve for your next week’s pitch.

Recall: Rethinking – the Product Development Process

Concept

Research

Analysis

Develop

Launch

Recall: MVP Homework from Week 18

Reflect on your task so far, your social problem, your approach for solving the social problem,

List your inner stakeholders –makes sure you have a table

List your external stakeholders – Make sure you have captured this in the table format.

Build: If you were to start the venture, what would be your minimum viable product(s) or services that you would initiate? (list a few ideas and rank them to the most viable

Measure : How would you ensure that you interact with the world (beneficiaries) in order to collect feedback for your product/service you are introducing. What will you be measuring? (can you identify some metrics)

Learn: what are you planning to do to find out as quick as possible if you need to change something?

Recall: MVP Seminar Activity from week 20

MVP: Minimum Viable Product or Service:

The materialisation of an idea that is still far from perfect but good enough (sufficient features) to introduce to public. Under a MVP rationale, you avoid “the temptation to overbuild and overpromise” (Ibid, p. 97).

Recall: You were to think about a version of your idea that requires only a fraction of such resources – something that you can quickly introduce to public so that you can start learning from the corresponding interaction (in order to find out in a timely manner whether you have a good or a bad idea at hand) and feedback.

Task 1: Outline your MVP

Outline – based on your well thought-out MVP, do the following

Build: Describe the chosen idea & its unique features

Measure : List key metrics for measuring MVP

Learn: Determine feedback loops

Presentation

Voluntarily make your presentation; and you should receive feedback from tutor/peers

20 mins

Feedback/Discussion

Q & A

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