Innovationsentwicklung at TU München

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Reasons for failure in startups

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Which of the problems below were the main reasons for failure

Select the correct answers:

  1. addressed a job that the customer did not care about

  2. had a flawed business model

  3. succumbed to external threats

  4. was poorly executed

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What is innovation and what is it not? 

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What is innovation? 

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What is good innovation? 

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Linus Pauling quote

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When should you not innovate? 

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Steve Jobs quote

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Important stuff when innovating

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Bill Gates quote

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Questions over time with more certainty

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Design thinking process

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Exemplary flashcards for Innovationsentwicklung at the TU München on StudySmarter:

Innovationsentwicklung

Reasons for failure in startups

Did not think well enough about actual customer needs
Did not understand the customer segment
Cannot communicate their product ideas

Innovationsentwicklung

Which of the problems below were the main reasons for failure
  1. addressed a job that the customer did not care about

  2. had a flawed business model

  3. succumbed to external threats

  4. was poorly executed

Innovationsentwicklung

What is innovation and what is it not? 

Innovation = Invention * commercialization
Innovation is to bring something to the market
It is not creating something new, that is invention

Innovationsentwicklung

What is innovation? 

Innovation is successfully applying the inventions in practice

Innovationsentwicklung

What is good innovation? 

It is a painkiller for a burning problem

Innovationsentwicklung

Linus Pauling quote

The best way to have good ideas is to have lots of ideas

Innovationsentwicklung

When should you not innovate? 

Nor market change expected
No real urgency
When you are in short term crisis
No one is being responsible
When you are clueless
No Top support
Lazy and uncooperative staff
No long term vision
everyone fears failure

Innovationsentwicklung

Steve Jobs quote

You cannot ask your customer what they want
By the time you give it to them they want something else

Innovationsentwicklung

Important stuff when innovating

Hear what your customer does not tell you
For local solutions you need to really understand your customers

Innovationsentwicklung

Bill Gates quote

If you have enough information to make a business case you are too late

Innovationsentwicklung

Questions over time with more certainty

Does the customer care?
Do we care ?
Can we beat the competition?
Can we do it? 

Innovationsentwicklung

Design thinking process

Empathy: Learn about audience
Define: Redefine and focus on knowledge from empathy
Ideate: brainstorm and come up with creative solutions
Prototype: Visualize and present your ideas
Test: Receive feedback for improvements

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Entrepreneurship for Students of Information Systems

Diskrete Strukturen

Buchführung und Rechnungswesen

Empirical Research Methods

Middleware und Verteilte Systeme

Investitions- und Finanzmanagement

Infomanagement

User Modeling and Recommender Systems

Partie 1: Croissance, Fluctuation, Crises

Statistik

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Awards

Best EdTech Startup in Europe

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EUROPEAN YOUTH AWARD IN SMART LEARNING

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Awards

BEST EDTECH STARTUP IN GERMANY

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Best EdTech Startup in Europe

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Awards

EUROPEAN YOUTH AWARD IN SMART LEARNING

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Awards

BEST EDTECH STARTUP IN GERMANY

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