LFU:online

Developing and building their own start-up example: In the course of the seminar, students go through a typical start-up process, from the identified business idea to the sale of the company. sale of the company. In the process, the knowledge gained in the VU is applied to the selected start-up example. There is an in-depth methods and concepts for the design of entrepreneurial and realization of business plans takes place.

You will present your business idea to peers and a panel of judges in a pitch-competition held at the end of the term.

* How to identify an opportunity for a new business? – The Right Idea! * Warm-Up and Team Building Mechanics * Learn more about the first steps - how to build your own company * What do you offer to whom and why? Think about a Compelling Customer Value Proposition * Set up the Profit Formula: How do you make money? How much does it cost? How much do you earn? * Define Key Resources: Team, Technology, Products, Information, Partnerships, Brand * Define Key Processes: Creative Processes, Marketing, Manufacturing, Sourcing and Logistics, Sales Approach * Define Key Metrics: Evolutionary Planning – Goal, People, Customer, Project Perspective, Key Performance Indicators * Define Culture and Norms: Set up Team Spirit, Leadership Principles, Typical Behaviors, IP-Policy: Open vs. Closes * Setting up the Company: Requirements/Legal Forms of your Company/ Corporate Structure * Finding Money: Considering Different Sources and their Consequences * Design your Offerings/ Create First Prototypes * Finding first Partners and Customers * Managing Growth

In each class we will discuss a special topic relevant for setting up a business which will be prepared and presented from the students. Afterwards, we will discuss how to apply the new insights to your entrepreneurial ventures.

Written and oral

Kaplan, Jack M. and Warren, Anthony C. (2020): Patterns of Entrepreneurship Management, 6th Edition, John Wiley & Sons, Hoboken, NJ.

Ries, Eric (2011), The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Business, Crown Business, New York, NY.

Timmons, Jeffry; Spinelli, Stephen and Zacharakis, Andrew (2004): Business Plans that Work; A Guide for Small Business, McGraw Hill.

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Entrepreneurial spirit! Desire to build your own company. Own business idea welcome but not obligatory.

Interest and motivation to participate in the Klimathon - HACK FOR SUSTAINABLE IMPACT- from idea to successful implementation.