A course designed for entrepreneurial students who have anidea for starting a business or would like to be involved instarting a business.The course is open to all students studying in MetropoliaUniversity of Applied Sciences.The course requires a fee of €22 toward documentationand administration fees for Junior Achievement YoungEnterprise.1 year/10 ECTS
Timetable • Class Bonding • Pitch ideasStart • Form teams • Market opportunity analysis • Guest Lecturing on Pitching • Start creating the business modelCreate • Customer Discovery • Build a Minumum viable product • Continue research • Update Buisiness ModelLaunch • Launch & Compete in JAYE competition • Measure
Theory “A startup is a temporary organisation used to search for a repeatable scaleable business model” Steve Blank
Theory“A startup is a humaninstitution designed tocreate new products andservices underconditions of extremeuncertainty”Eric Ries
Build-Measure-Learn The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or preserve. All successful startup processes should be geared to accelerate that feedback loop.
1st problem is caused bythe allure of a good plan, asolid strategy, and No business plan survivesthorough market research.Startups operate with too first customer contactmuch uncertainty. Startupsdo no know yet who theircustomer is or what theirproduct should be. Pic Source:http://businesswheel.com/
Traditional Product Development Waterfall Requirements Specifications Problem: known Design Solution: known Implementation Unit of progress: Verification Advance to the next stage Maintenance
Lean Start-up Pivot Customer Development Hypotheses, Experiments, Problem: unknown Insights Solution: unknown Data, Feedback, Insights Agile Development Unit of progress: Customer Validated learning Development: My Model Requires about customers you to get out of ($$$) the building
Team ExamplesCKS Energia/ Thermo Acoustic EngineA Team of two engineers and one business students creatingan energy saving device that re-uses heat that would normallybe wasted by factories.Co-operative company status: Application madeMVP: The team hope to have an MVP by early February. Media Light A team of one computer technician student and two business students. The team plan to develop websites for the SME sector but with the twist that the website should be a central image that reveals other images and information when pressed and thus not the usual drop down menu scrolling. Co-operative company status: Co-operative status confirmed MVP: The team is in the progress of developing an MVP and testing the market.