Note: Students should present their work for both parts in one paper and indicate each part using proper heading
Part 1: Evaluating Potential Venture Ideas (80%)
Princeton Creative Research presents a criteria checklist for evaluating potential venture ideas that is well-suited to entrepreneurs. Using this checklist or a comparable set of criteria, students will identify and evaluate three (3) different potential venture ideas. For each case, students will provide: (1) an overview of the idea and the need that it addresses; (2) a detailed evaluation of its potential using the checklist; and (3) a brief description of the source (i.e., business idea center) from which the opportunity was discovered. The source must be a well-established and reliable platform that hosts a wide range of business ideas in different domains. After completing the above sections, students should present a technical analysis to discuss which idea they think has the most potential and why. For this part, evaluation will be based upon the logic behind the analysis of the venture’s potential.
This section will be 3 pages (excluding cover page and reference page); APA writing conventions should be followed with a minimum of five (5) sources referenced and cited.
Part 2: Innovate by Cross-Pollinating Ideas (20%)
Being able to connect and combine nonobvious/distantly related ideas and objects is essential for innovation and a key part of the creative-thinking process. Along with the ability to reframe problems, it engages imagination and thereby unlocks an individual’s innovation engine. Essentially, entrepreneurs need to be able to reorganize and rearrange various entities that they are aware of and the resources they have in order to generate brand-new ideas.
For this part, students should refer to the source(s) of business ideas that they utilized to complete Part 1 and generate a new business idea/solution by connecting and combining existing ideas that may not appear to be closely related initially. As an alternative, one source of idea can come directly from the student’s existing knowledge. Students should (1) briefly describe the individual ideas that they merged to generate their new proposal and (2) provide an in-depth analysis of its potential.
This section will be 2 page(s); APA writing conventions should be followed with a minimum of three (3) sources referenced and cited.
Components | % of Grade |
Case Analysis | 25% |
Application of Entrepreneurship, Sustainability, and/or Creative Thinking Methods, Tools, and Techniques | 30% |
Recommendations | 25% |
Technical Requirements | 15% |
Citations | 5% |
TOTAL | 100% |