TechInnovation - Distance Education

Course Overview
This MSc in TechInnovation (Distance Education) course is a one-year full-time entrepreneurship development programme that aims to fill the gap in terms of entrepreneurship/intrapreneurship/innovation skills identified by small and large companies focused on exploring the commercial potential of solutions to identified industry needs across a wide range of domains. The aim of this course is to teach people how identify commercial needs, respond to the need in the form of a high level solution, test the viability of that solution, develop a commercial repose and create a company or a new business unit within an existing company, with a particular focus on innovation-driven enterprises that can scale up. We have chosen the successful "Disciplined Entrepreneurship" 24-step process from MIT as the basis for our approach. The course will include working through issues of market analysis, technology viability assessment, competitive positioning, team building, product lifecycle planning, marketing strategy, sales channel analysis, and with a strong emphasis on the entrepreneur/intrapreneur as a salesperson. Business plans will be developed based on the 24 steps, and will include an executive summary, vision and values, market analysis/segmentation and competition, a product and manufacturing plan, a sales plan, a financial plan, and a marketing plan.

The following topics and will be covered in our taught modules and expanded with regard to a selected idea/innovation/need:

Introduction to innovation/needs finding
Primary market research and data triangulation
Problem areas and existing solutions
Area analysis and stakeholders
Weighing factors and filtering needs
Needs presentation by individual students and associated poster
Team formation on selected need
Needs brainstorming and introduction to product design
Organising and selecting concepts
Go-to-market basics
Legal affairs basics
Business models
Presentation on concept development overview
Research and development strategy
Exploration of prototyping facilities
Exploration of technology development
Intellectual property strategy
Financial modelling
Prototype evaluation design
Go-to-market strategy
Funding sources; venture capital and angel funding
Quality systems and assurance
Licensing and alternate pathways

In an Innovation Project, students will work in teams on identifying a real-world problem in a particular domain that requires an insightful technological solution, inventing and implementing the solution, demonstrating its validity and commercial viability (and iteratively improving the solution if necessary), and developing pitches for angel and venture capital funding to allow commercialisation (post-programme). Therefore, work should focus on the start-up businesses themselves, the potential for licenses, Enterprise Ireland funding proposals, and business models ready for first-stage investment. Domain areas may include, although are not limited to, tourism, agriculture, marine, fintech, defence, manufacturing, environment, transport, logistics and retail.

Applicants should normally hold a qualification from a university or other internationally recognised academic institution or authority, corresponding to Level 8 of the Irish National Framework of Qualifications (NFQ), to a minimum standard of Second Class Honours (or equivalent). It is expected that successful applicants will come from a variety of academic disciplines.

How to apply
We encourage all applicants to apply as early as possible.

Review/Closing Dates (for Taught Programmes)
For most programmes, University of Galway does not set specific closing dates for receipt of applications. Applications will be accepted on a rolling basis and course quotas will be reviewed continuously throughout the application cycle with the exception of applications for some programmes which are reviewed after the specified closing date. Candidates who do not have their final degree marks available may be made a conditional (provisional) offer.

Online Application
Applications to most postgraduate programmes at University of Galway are made online via www.universityofgalway.ie/apply (see "Application Weblink").

1 year full-time.

Next start date: September 2024.

Review/Closing Dates (for Taught Programmes)
For most programmes, University of Galway does not set specific closing dates for receipt of applications. Applications will be accepted on a rolling basis and course quotas will be reviewed continuously throughout the application cycle with the exception of applications for some programmes which are reviewed after the specifed closing date*. Candidates who do not have their final degree marks available may be made a conditional (provisional) offer.

Career Opportunities
This course is suitable for those who have a business idea and wish to explore the full potential through a structured approach. It will help to guide students and increase their skills, to share best practices in entrepreneurship and to accelerate innovation maturation and transfer into business. It will ideally place students to fill the entrepreneurial need in the West of Ireland and equip graduates with the skills required to become integral members of innovation driven enterprises. Programme participants will have the benefit of an experienced team who will help them to meet their goals in terms of entrepreneurial and innovation skills acquisition.