On successful completion of this course, you will be able to:
- Understand and interpret scientific work about the first few phases of a startup process, and translate this knowledge into evidence-based actions
- Identify and select entrepreneurial ideas that may be solutions to real-life problems of individuals and/or organizations
- Examine and validate the market potential of an entrepreneurial idea by means of experimentation
- Think critically about the steps to be taken and justify any decision made during an entrepreneurial journey
- Defend an entrepreneurial idea during a pitch in front of a group of potential investors
Globalization and fast-paced technological development changed – and still changes – the way in which opportunities are explored and exploited. It currently is easier than ever before for startups to scale globally and to challenge incumbent organizations that used to dominate industries over the past decades. At the same time, nascent entrepreneurs face quite some challenges. Think of regulatory barriers and a lack of access to financial resources.|
In the context of this course, you will go through the first few phases that a typical startup process of a new venture entails. The setup of the course is therefore split up into three blocks of two weeks each, viz. (1) team formation, (2) ideation, and (3) validation. First, you are required to form an entrepreneurial team that is most likely to perform well. Second, you will generate your own ideas to real-life problems that potential customers face, after which you select the most promising one. Third, you will develop your product or service until it reaches the status of Minimum Viable Product (MVP), and experiment whether it has market potential. During a final entrepreneurial pitch, you will have to convince a group of investors about the (future) value of your budding business.
On your way, you are encouraged to make use of state-of-the-art scientific knowledge. Part of it is dealt with during the weekly lectures. A team portfolio not only contains a detailed description of your entrepreneurial journey, but also includes an extensive explanation of how you arrived at certain conclusions and why you have taken certain steps. Both an interim exam and a final exam test your level of knowledge about the required reading material. The course also aims to develop important professional skills to a greater or lesser extent. Most emphasis is placed on reflecting, teamwork, and presentation skills.