Activities relating to best practices for applying systems engineering principles, tools and practices to new venture creation, where a “new venture” is one that aspires to bring new functionality to a target group of people or organizations and for which there is no existing profitable business model to copy or reference.

This includes applying systems engineering to;

• Defining a new venture’s system-level functions and requirements (i.e., the primary things it has to do to be a profitable company)
• Formulating high-level business concepts (i.e., a high-level design capable of performing system-level functions)
• Decomposing high-level business concepts into subsystems, and defining their technical requirements 
• Decomposing subsystems into business components and defining their technical requirements 
• Using modeling & simulation to evaluate alternative business architectures and then probe/stress a new venture’s profitability potential 
• Verifying and validating at the business component level
• Testing integration of components and subsystems prior to running business pilot tests   

Our working group doesn't cover;

• Starting a new business in an already established market (e.g., opening a beauty salon, open a microbrewery, or creating a new brand of ice cream)
• Expanding/growing an already established small business 
• Optimizing business operations to improve profitability and performance.