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ToddWendorff_Thesis.pdf (398.87 KB)

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Design Interjection for Business Incubators

Wendorff, Todd Louis
http://rave.ohiolink.edu/etdc/view?acc_num=kent1395918298

Abstract Details

2014, MFA, Kent State University, College of Communication and Information / School of Visual Communication Design.
No matter how an entrepreneur defines failure, statistics on the success rate of start-up businesses is disheartening. Around 30 to 40 percent of start-up businesses liquidate all assets, losing all investor funding, while 70 to 80 percent fail to produce the projected return on investment. There is a strong need for effective incubation facilities which compress the learning curves of the start-ups and provide them with necessary initial support in order to improve their sustainability. There are around 1,200 business incubators operating in the United States. Joining an incubator is a great way for inexperienced entrepreneurs to receive funding and guidance to help get their ideas off the ground. It blends office spaces with mentoring programs, financial assistance, business services and the opportunity to network with experts and fellow entrepreneurs. Most incubator facilities in the U.S. are public-private partnerships, with initial support coming from the federal, state and local government bodies. Approximately half of these total facilities are affiliated with universities. While traditional business models are adequate for many established companies, the types of problems that face new businesses have changed. A decade ago, entrepreneurs were not expected to start their own brands from scratch, they were simply too hard and expensive to create and could survive by simply differentiating themselves based on product or service. Since then, expectations have risen as the start-up field has grown. It's not enough to stand out with a single idea; you have to combine it with a great product, engaging consumer experience and a voice that sets it apart from the competition. Creating a brand isn't a project with a beginning, middle and end. Instead it requires constant vigilance and must be monitored throughout the course of the brand's life. In the process of starting a company, people are often too focused on raising the capital to grow, rather than building a great brand that will draw and build a large, loyal consumer base. When design is integrated into an organization, it helps to build a sustainable future for that company. Startups should be equal parts design and business. Design should be a part of the business model from the beginning and designers should partner with business co-founders to develop great products, user experience and a culture of innovation for the long run. This thesis will explore how design and design thinking can be interjected into business incubators to help start-up companies grow and form partnerships to create long-term success. It is a comprehensive study on how design can be implemented in every level of a start-up company to create a more sustainable, withstanding business model.
Ken Visocky O'Grady (Advisor)
David Middleton (Committee Member)
Julie Messing (Committee Member)
54 p.
Business Administration; Business Community; Business Education; Design; Entrepreneurship
design; design thinking; design strategy; business; business incubator; incubator; startup; start-up; entrepreneur

Recommended Citations

Citations

  • Wendorff, T. L. (2014). Design Interjection for Business Incubators [Master's thesis, Kent State University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=kent1395918298

    APA Style (7th edition)

  • Wendorff, Todd. Design Interjection for Business Incubators. 2014. Kent State University, Master's thesis. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=kent1395918298.

    MLA Style (8th edition)

  • Wendorff, Todd. "Design Interjection for Business Incubators." Master's thesis, Kent State University, 2014. http://rave.ohiolink.edu/etdc/view?acc_num=kent1395918298

    Chicago Manual of Style (17th edition)

kent1395918298
1,153
© 2014, all rights reserved.
This open access ETD is published by Kent State University and OhioLINK.