Innovation Frontiers examines how innovation ecosystems function, how capital flows through them, and how the relationship between investors and founders shapes what gets built. The course goes beyond the mechanics of venture deals to explore the full landscape of innovation financing—from early-stage ventures in software and AI to the longer-cycle capital structures required in deep tech and life sciences—and how the ecosystems where companies are built determine who wins, who gets funded, and why. Structured as a three-quarter cohort experience (0.5 credits per quarter; 1.5 total), the course combines rigorous classroom discussion, practitioner engagement, alumni mentoring, and immersive field visits to two deliberately contrasting innovation ecosystems—San Francisco and Boston. San Francisco is visited twice: first to examine early-stage company formation and the impact of AI on venture (Fall), and again to engage with growth-stage dynamics, board governance, and portfolio management (Spring). Boston provides a sharp contrast—deep tech, life sciences, research-anchored deal flow, longer capital cycles, and fundamentally different investor-founder relationships—and challenges the assumptions students formed in San Francisco. Chicago serves as an ongoing local reference point throughout the year, with dedicated classroom sessions exploring the home ecosystem through guest speakers and comparative analysis.