TecnoCampus Innovation Course Quiz
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Questions and Answers

Identifying social trends is a method to create a business idea.

True

What is a common fear mentioned regarding business ideation?

Falling down

What does TAM stand for in market analysis?

  • Total Acquired Market
  • Total Addressable Market (correct)
  • Total Acceptable Market
  • Total Advertised Market
  • Prototyping is primarily used to finalize product development.

    <p>False</p> Signup and view all the answers

    What is one way to create a business idea from existing products or services?

    <p>Importing ideas from other countries</p> Signup and view all the answers

    The prototype stage is associated with funding opportunities.

    <p>False</p> Signup and view all the answers

    What is a MVP in the context of entrepreneurship?

    <p>Minimum Viable Product</p> Signup and view all the answers

    The market segment that a business can realistically obtain is called the ______.

    <p>SOM</p> Signup and view all the answers

    What is one method used to identify users' needs in ideation?

    <p>Identifying unmet needs</p> Signup and view all the answers

    Match the following market definitions with their descriptions:

    <p>TAM = Total revenue opportunity if a product achieves 100% market share SAM = The segment of the TAM targeted by a business's products or services SOM = The portion of SAM that can be realistically captured MVP = A product with the minimum features necessary to validate a concept</p> Signup and view all the answers

    Which type of competitor offers products targeting the same customer profile?

    <p>Type 1</p> Signup and view all the answers

    Client risk is one of the main types of risks identified in entrepreneurship.

    <p>True</p> Signup and view all the answers

    What are metrics used for in the context of operations?

    <p>To evaluate performance and success of business strategies</p> Signup and view all the answers

    Study Notes

    TecnoCampus - Study Notes

    • Course Topic: Creation of innovative and technology-based companies.
    • Evaluation Criteria: Assignments (50%), Partial Deliveries (30%), Class Participation (20%), Presentation Pitch (20%), Final Exam (30%).

    Ideation

    • Creating Business Ideas: Identify social trends, unmet needs, re-adapt existing products/services, assess legislative changes, and adapt/import innovation from other sectors.
    • Segment Analysis: The slides include segments associated with concerns, frustrations, and enjoyable activities to assist in understanding customer groups.
    • Brainstorming Session: Examples of identified ideas include virtual reality practicing, emergency/app devices, GPS trackers, social media for outdoor activities (like rock climbing), and vacation-sharing apps for pets/dogs.

    Validation

    • Potential Risks: User-related issues, such as lack of customer acceptance, perceived un-usefulness, client disinterest. Technical issues like difficulties with product development or production after initial success.

    Web Evolution

    • Web 1.0, 2.0, and 3.0: The slides illustrate graphical representations of each stage to showcase the differences in structure and utility. Web 1.0 features a simple central point, 2.0 shows connection between nodes or users, and 3.0 highlights modular or cubed interconnections.

    Additional Topics

    • Value Proposal: A key presentation element for businesses.
    • Ideation Methodology: The presentation emphasizes a circular process, moving through Opportunity, Ideation, Segmentation, Go-to-Market, Prototype... and returning to the origin for continued analysis.
    • Funding Stages (Business Development): Stages encompass pre-seed, seed, start-up, growth, and maturity, with corresponding funding sources like incubators, accelerators, crowdfunding, public funds, business angels, venture capital, corporate capital, private equity, and IPOs.
    • Metrics (Business Evaluation): The presentation highlights the structure of a business funnel, encompassing visits, leads (1000), opportunities (100), and clients (10). It further outlines key metrics including the cost of acquisition (CAC), conversion rates (buyers/visitors), average revenue per user (ARPU), and customer lifetime value (LTV).
    • Profitability Considerations: The importance of ensuring that the cost of customer acquisition (CAC) is significantly lower than the lifetime value (LTV) of a customer for consistent profitability.
    • E-commerce Flowchart: A simplified flowchart displays typical steps in an e-commerce transaction—Client, Order, Payment, Order in Warehouse, and Shipping Program.
    • Geographical Considerations: The slides include maps showing locations/distances and approximate travel times for businesses, particularly in the context of a startup in Barcelona.
    • Further Business Concepts: The slides discuss various facets of starting a business, showcasing the need for a niche market, as well as characterizing specific attributes of a buyer persona to focus on.
    • Business Valuation: A presentation highlights the concepts of pre-money and post-money valuations. Information is provided relating these concepts to business investment, including an investor's agreement to contribute 500,000€ in exchange for a 25% stake in the company. The post-money value is the complete company valuation of 2 million euros. The calculation for pre-money valuation is the post-money value minus the amount of investor investment.

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    Description

    Test your knowledge about creating innovative technology-based companies. This quiz covers ideation, validation, and evaluation criteria in the course. Hone your skills in identifying trends and customer needs to succeed in the entrepreneurial landscape.

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