The Innovation-to-Market course is intended as an entry point for innovators, seekers of a creative solutions, designers of novel approaches to social problems or makers of impactful products at the University of Wisconsin–Madison.
You’ll begin by forming a hypothesis about your business concept. You will then test that hypothesis by interviewing potential users and customers of your product or service. The purpose of this is to identify a “product-market fit.” Simply put, is your proposed product/service addressing a real need or demand? Is the pain point sufficiently large that customers will pay money for your solution? If so, how much? Is it a big enough market for you to bother pursuing? If the answer to any of these questions is “no” you are better off finding out earlier and pivoting to a new value proposition, perhaps changing which customers you will go after or what product features you will incorporate.
Innovation-to-Market is designed to get you thinking along these lines and get you started actually doing some of this customer discovery by getting out there and interviewing potential customers. It is not just a theory-based lecture course. While there is some delivery of content and knowledge sharing, the most important aspect is to gain some experiential learning-by-doing.