This document outlines a design thinking approach for business innovation. It shows a process starting with identifying a need for innovation and hackathons to brainstorm ideas. Then it focuses on defining a business model hypothesis and building minimum viable products, getting customer feedback through development to refine the product and test for market fit before building prototypes and scaling up a new business.

1. BUSINESS INNOVATION PROCESS
Design Thinking Approach
Idea selection Customer
feedback
pivot Customer
feedback
pivot
Need for business
innovation Product/
market fit
Focus:
define BM- Focus: define
Hackethon Build MVP
Hypothesis MVP
brainstorm
Tangible New
Business
Customer Development Prototype
Lean startup
Scale-up