CREATIVITY &

INNOVATION

College of Engineering
KIET
 Phases of Creativity
4+1

Phase 1: Information / Knowledge / Preparation / Research

Phase 2: Incubation / Thought Process

Phase 3: IDEA

Phase 4: Evaluation

Phase 5: Implementation / Prototype

Note: For SUSTAINABLE business Creativity and Innovation

is a continuous process
Phase 1: Information / Knowledge / Research

 Gathering information about the area – our area is

Technology so we will gather as much info as we can
related to technology
 Looking for Problems, in our case related to
Technology
 Idea only comes within our knowledge range

 The more knowledgeable, the more chances of better

and doable idea
 You may set your time limits
 Phase 2: Incubation / Thought Processing

 Thought processing in this phase.

 This may happens anytime – walking, reading book,

traveling, playing, gazing stars…
 No time limits – idea can click in a day, week, month,
year…
 Phase 3: Idea

 That “click”, “Eureka”, “IDEA”, the “solution” to the

“problem”
 Shortest Phase – it is rather a Stage. You move on to
Next Phase 4
 Phase 4: Evaluation (Important)

 You weigh your idea in Real-world scenario

 You evaluate it – you map it with your area

 You evaluate with domain experts

 Critical thinking, Audit, market study, your limits

 "Some of the greatest creative ideas of all time can easily be

lost because they're not packaged in the right way”.

 Very Important Phase

 If this Idea fails in Phase 4 (Evaluation), you need to go back to

Phase 2 or you may modify/polish the idea in Phase 4.
 Phase 4+1: Implementation

 This is the Practical Implementation of your idea –

Creating the thing.
 In our case, Technology Entrepreneurship, this is the
start of Business Process.
 This Stage is where Edison said that it’s “1%
inspiration and 99% perspiration”.
 4+1 as this may be Prototype testing phase before
launching the business process (MVP later details)
 Minimum Viable Product
Group Thinking Vs Individual Thinking.

Statistics shows 84% Vs 64% for ideas and

13% Vs 5% Good ideas. Results clearly shows
that Individual thinking is much better.

Reasons: Time wastage, hold ideas due to

evaluation apprehension, loss of concentration,
single track/followers...

Suggestion: Isolated brain storming and then

evaluating ideas by cross brain storming
Design Thinking
 5 values for Customers

Example:
1. Toyota, iPhone 2. Imtiaz, Walmart,
3. McDonald, 7-11 4. TCS, Dell
5. Mercedes Virgin Atlantic Disney world iPhone.
 BMC
Business Model Canvas
BMC - Definition
 A Business Model Canvas is an "abstract
representation of an organization, be it conceptual,
textual, and/or graphical, of all core interrelated
architectural, co-operational, and financial
arrangements designed and developed by an
organization presently and in the future, as well as
all core products and/or services the organization
offers, or will offer, based on these arrangements
that are needed to achieve its strategic goals and
objectives.“
 One Page Business Plan
 BMC format
Title: _______Production & marketing solar powered Rikhshaw
KEY KEY VALUE FOR CUSTOMER CUSTOME
PARTNERS ACTITIES CUSTOMERS/c LONGTERM RS segments
onsumer REATIONSHIP
Part supplier
Govt
Japan engine supplier
Design Product – 5 year loyalty cards Corporates
Designer Simulation warranty, Charging stations Govt off
Prototype Japanese engine Buyback Dealers
Production Free fuel – solar First three free …
Marketing Low cost service
Sales Local service
Repair/maint stations, online
enance booking
Life saving
Easy travel
Maintenance free
KEY KEY
RESOURC CHANNELS
E Partners
BMC Components:
 Key activities
 Key Resources
 value propositions
 customer segments
 Customer/Sales channels
 customer relationships (Long-term)
 Key partners
 cost structure
 revenue streams + Add-ons
 Limitation
 Detail missing
 No Competition mentioned
 Hurdles
 No depth
 No risk mentioned
 Marketing & Sales Plan Missing
 Requires Business Plan later
Revenue model
 Identify your customers (customer ≠ consumers)
 Determine value proposition
 Evaluate revenue model options
 Select revenue model(s)
 Adapt and adjust
Assignment 2: CLO_1 (Deadline: ) 14th Sept
2020
 Each Group will think of multiple ideas individually and
then share their ideas for group discussion.
 Shortlist 3 ideas
 Evaluation Phase – Get review from 6 persons from 3
different domain (customer, retailer, producer, supplier,
etc.)
 Prepare a 1-2 page report mentioning idea with positive
evaluation from 6 persons.
 Class activity after assignment submission - Cross
Questioning session - Class and myself will audit the
IDEA and the group will defend/justify it.
 100 Rupees Business
 Each group will get a sealed envelop with cash
between 50 to 100 rupees.
 You will get 3 days to think of using the money and
your brain to generate as much money.
 On fourth day you will open the envelop to see
how much is inside and you will have whole one
day to generate revenue.
 You will present your activity in front of the class
and the highest money maker will be the winner.
 You will return the initial amount, the rest will be
yours 
Assignment 3: CLO_2
 Complete BMC of your venture (real or virtual).
Each 9+1 category should have at least 4 items –
more the merrier.
 Deadline: 18 Sept 2020.
 Viva in group – each person will participate
Learning outcome:
 Knowledge, Idea, Opportunity.
 Business minded, thought processing
 Systematic way of doing things
 Business Planning - BMC
 Linking various activities
 Market need – MVP
 Revenue model