Entrepreneurship and Innovation Practice (EIP) is an innovative, award-winning and hands on learning experience that involves MBA Entrepreneurship students, academics and mentors from the UTS Business School and a rich network of project coaches, industry advisors and partners. The subject focuses on the professional practices of developing entrepreneurial and innovation strategies. It draws on knowledge of strategy, design thinking, data analytics and start-up methods.
EIP is framed as an innovation strategy consultancy where student teams help existing start-ups, corporates as well as not-for-profits or social ventures investigate a strategic challenge and create innovative solutions and strategic recommendations. Students engage in rigorous research and analysis to identify problems, deeply understand customer needs, explore company resources, capabilities, processes and revenue streams as well as the competitive environment, relevant trends and emerging technologies.
The students integrate course work and action research with the business experience of their mentors and advisors to create professional outcomes including market entry strategies, product and service development, strategic renewal, business plans, business models or business cases for new initiatives. While solving real client challenges, students learn and apply the knowledge and skills required for examining, designing, testing, improving or redesigning viable businesses.