What is a startup? What does the entrepreneur do? And what characterizes good, structured and effective business development?
In this course students work to create a business plan to validate a business idea in an iterative process. During this process business- and entrepreneurial theories are used in a context specific application.
In order to invest in a plan (this investment can be time, energy, knowledge, network and money) an entrepreneur needs to constantly learn and reflect and put this experience in his business and his business plan. A start-up will go through iterations, get feedback and change course during its development. These iterations are part of the course where feedback from professionals and coaches are integrated.
The Business Model Canvas is used to create a valid strategy to connect the needs of the customer with the value proposition and the required resources.
Also the aspects of competition and sustainability are researched and connected to the overall aim of the business. Students will use valorization of new technology and academic knowledge to bridge the gap between research and practice. In the course students are challenged to think of alternative forms of financing such as crowd funding, subsidies and business angels to finance the business.
As the investors expect the business to create a return on investment the students will generate market knowledge about the customer needs, the product market fit and the growth potential. To make the business plan ready for evaluation by investors and stakeholders Investment analysis is an essential part of the business plan development.
The students will present to a panel of experts, entrepreneurs and investors. They will give feedback with a market perspective and based on their experience.