The aim of the subject:
The main aim of the course is to support the learning how to rapidly develop and test ideas, and search for the actual business model based on information collected from customers and market. Students will learn searching the unmet needs of customers and working actively together with entrepreneurs/mentors to develop their ideas and a business model. The course ends with pitching students’ ideas to the investors.
As a result of the subject, the student and the team can:
- Recognize business ideas that have potential to start a company, including a start-up
- Find necessary people and resources for founding a company, including a start-up company
- Test and develop the business idea (product/service) fast, based on customer needs,
- Choose an optimal market and market segment for the beginning and for future growth.
- Knows, what are the benefits of a start-up hub and when it is reasonable to apply for these
- Communicate professionally with potential investors
- Make a one-pager and pitch and go through with them
The content of the subject:
The subject follows the start-up companies’ life curve and supports students in using the received knowledge and skills in their own company.
The lectures consists of 14 workshops on different topics, such as:
- Why to create a start-up?
- Idea: Finding an idea; Good ideas and bad ideas; How to put your skills into creating a business-idea
- Team: Necessary skills, good co-founders, importance of first employees, hiring – how to find a good employee, what to ask, how to evaluate
- Product and product development in start-up’s. Software vs hardware products.
- Customer and customer communications: Know your customers
- Market and market segments: Expanding to new segments and international markets
- Goal settings and goal achievement. Measures and motivation
- Team performances about customer and market survey.
- Incubators and accelerators. What are they, who are they for and when are they useful?
- How to create business model
- Business angels: Who is it? What do they expect from a start-up, How to get money? Growing your business: What is risk capital? What are funds? How does it work and what does it mean to a start-up? Growing a company and exit or IPO?.
- Training of business speeches
- Business pitch event
Every topic is illustrated with theoretical video-lectures by Stanford, MIT, Harvard and TTÜ etc. In addition there are special video lectures, real entrepreneurs in classes and team-work exercise to reach the desired goals for the subject.