1. Ideation and Concept Creation Lachlan Blackhall

2. Where do ideas come from? Vitally important to understand where ideas and concepts come from. Entrepreneurs translate ideas into companies. Ideas and concepts are important but the hard work to bring them to fruition is what really matters.

3. Ideation Ideation is the creative process of generating, developing, and communicating new ideas. We will review some methods of ideation and then look to brainstorming ideas that we can work on over the next few days.

4. Ideation Problem – Solution Evolutionary Idea Symbiotic Idea Serendipitous Discovery Targeted Innovation

5. Evolutionary Idea Evolutionary ideas derive from somewhere else, taking something that already exists and improving on it. Improving other ideas is where most entrepreneurs start out. Google is a great example of this.

6. Symbiotic Ideas A symbiotic method of idea creation is when multiple ideas are combined, using different elements of each to make a whole. Having a multidisciplinary background helps with these type of ideas. Smartphones are a perfect example of this type of idea.

7. Serendipitous Discoveries Serendipitous solutions are ideas which have been coincidentally developed without the intention of the inventor. Entrepreneurs should be aware of the possibility for serendipitous discovery. The discovery of penicillin is a classic example of a serendipitous discovery.

8. Targeted Innovation Creating a targeted innovation deals with a direct path of discovery. Often accompanied by intensive research in order to have a distinct and almost expected resolution. Many mathematical algorithms used in industry arose this way.

9. Problem - Solution This is the most simple method of progress, where someone has found a problem and as a result, solves it. Solving a problem for someone is the most basic form of generating value. Finding a problem – solution pair is the best starting point for entrepreneurs.

10. Ideation as an Entrepreneur Where do entrepreneurs get their ideas from? –Life –Other people (i.e. customers) –Research –Experience