%0 Journal Article %J Technology Innovation Management Review %D 2020 %T Rapid Product Development in University-Industry Collaboration: Case Study of a Smart Design Project %A Jari Jussila %A Jukka Raitanen %A Atte Partanen %A Vesa Tuomela %A Ville Siipola %A Irma Kunnari %K co-creation %K Co-creation pedagogy %K design thinking %K Rapid product development %K University-Industry Collaboration %X University-industry collaboration aims at mutually beneficial knowledge and technology exchange between higher education and business. Prototyping new products is one sweet spot where industry can gain new valuable knowledge and understanding of technology, while higher education institutions develop the skills and competences of students by encouraging them to work on authentic real-life problems. From the “design thinking” perspective, rapid product development can be defined as the creation of new products, in the shortest timescales possible, that meet the criteria of desirability, feasibility, and viability. This article addresses rapid product development by presenting a case study of developing prototypes in university-industry collaboration. As a result, the study highlights key design principles, such as the importance of involving teachers, business representatives, and students in collaborative project design, of focusing on the customers or service users who will benefit from the design, and of guiding students participating in co-creation activities. Presenting conclusions for both academics and the industry, the article contributes to design thinking and rapid product development in university-industry collaboration. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 10 %P 49-59 %8 03/2020 %G eng %U timreview.ca/article/1336 %N 3 %1 Häme University of Applied Sciences Jari Jussila, DSc, is the director of the HAMK Design Factory and the Principal Research Scientist at Häme University of Applied Sciences (HAMK). His research is currently focused on knowledge management, co-creation, social media and health informatics. %2 Häme University of Applied Sciences Jukka Raitanen, BBA, community manager of HAMK Design Factory, is also a business designer. Jukka has been developing interdisciplinary initiatives for students in Amazing Business Train, FRUSH and Freezing Week. As community manager, Raitanen has the role of embedding business in different disciplines at Häme University of Applied Sciences. Vesa Tuomela, MSc, MBA, is a senior lecturer at Häme University of Applied Sciences and teacher of business design. Vesa has been designing flipped learning experiences, including cSchool, Amazing Business Train, Freezing Week and Startup Business School. %3 Häme University of Applied Sciences Atte Partanen holds a bachelor’s degree in electrical and automation engineering from Häme University of Applied Sciences (HAMK, 2017). He works as a project engineer in many projects focused on the Internet of Things, data management and information systems at Häme University of Applied Sciences (HAMK). His research is currently focused on information and data management systems. His work on information systems and smart cities has been published in journals. %4 Häme University of Applied Sciences Vesa Tuomela, MSc, MBA, is a senior lecturer at Häme University of Applied Sciences and teacher of business design. Vesa has been designing flipped learning experiences, including cSchool, Amazing Business Train, Freezing Week and Startup Business School. %# Häme University of Applied Sciences Ville Siipola is a Lecturer at HAMK and a footwear designer with passion for digital design, manufacturing methods and product development. He specializes in innovation through multidisciplinary teamwork and Design Thinking. %$ Häme University of Applied Sciences Irma Kunnari has a PhD in Education, is a principal lecturer, teacher educator, pedagogical developer and researcher at HAMK’s Edu research unit. Irma Kunnari has developed student-centered and innovative competence-based higher education in many national and international contexts and has researched teacher learning and educational change. %& 49 %R http://doi.org/10.22215/timreview/1336