Lean Startup Entrepreneurship Course
create, develop and boost your own business
Do you want to learn how to develop your own business idea and turn it into a successful startup? Then this is your chance. Based on the lean startup philosophy, you will test your ideas and assumptions one-by-one and acquire entrepreneurial know-how and skills. Insights and coaching from mentors and experts will help you along the way.
The Lean Startup Entrepreneurship course teaches you how to develop your own business idea and turn it into a successful startup. The course is shaped as a business idea competition and you learn together with fellow students what it takes to succeed as an entrepreneur. The best participants receive coaching from a mentor to develop their startup. Live webinars from experts and entrepreneur give you the opportunity to gain unique insights and get answers to the startup questions that you face.
By Participating in the Lean Startup Entrepreneurship Course from ESTIEM, you will learn how to:
• Generate business ideas;
• Develop and validate a business model for your idea;
• Apply different growth strategies for your startup;
• Make money and finance your startup;
• Build a winning team;
• Take the social aspects of your startup into account.
The course format has the following advantages:
• All topics on entrepreneurship are practical and hands on. You can apply learnt insights directly in real life.
• A mentor will support you (and your team) to further develop your business idea in the second round.
• The course stimulates social learning, engaging with other participants so learn more compared with studying on your own.
• You get access to and feedback from experts, which results steeper learning curve.
• The competition element of the course enables you to benchmark your qualities with your peers and stimulates you to get the best out of yourself.
This course is shaped as a business idea competition and consists of three rounds:
Round 1: Defining a business idea for your startup (online)
Module 1: Introduction course and participants
Module 2: Me entrepreneur?!
Module 3: Core concepts for entrepreneurship
Module 4: Business ideas
A jury will judge the business idea that you submit in the first round and give feedback on it. Only participants with promising, ethical ideas gain access to the second round.
Round 2: From business idea to validated business model (online)
Module 1: Lean Canvas business model
Module 2: Understanding your customers and market
Module 3: Growth Strategies
Module 4: Making money and financing your business
Module 5: Building a winning team
The best 5 teams are invited to the final round in Porto, Portugal.
Round 3: Turning a validated business model in a viable startup (on location/online)
Module 1: Writing a business plan
Module 2: Negotiation Skills
Module 3: Pitching your startup
Module 4: Social Entrepreneurship
Module 5: Project Management
Module 6: Managing risks and opportunities
Module 7: Managing your Intellectual Property Rights
Module 8: Hiring staff for small companies
The exact modules for round 3 are to be decided.
Starting in September 2016
Application until September 14th
Round 1: September 4 - September 24
Round 2: October 2 - November 5
Final: November 27 – December 1
This course is free of charge.
As a participant in the online course you must fulfill the following requirements:
• Proficiency in written and spoken English
• Basic understanding of Industrial Engineering & Management or Business Economics
Participants of the course that want to be eligible for the final of the business idea competition in Porto (Portugal), must fulfill the following additional criteria:
• Their team consists of a maximum of 4 members;
• At least one team member studies IEM (Industrial Engineering and Management) at a European university;
• Participants are between 18 and 34 years old;
• Participants are citizens or legal residents with a valid work permit or student visa in the country in which they reside;
• Participants agree to not use any of the ideas presented by others for their own benefit or development of a business without the owner’s explicit approval.
European students that are elected for the Final, but lack the funds to travel to Porto can apply for a reimbursement by the IEM Caring Foundation. Details are provided upon request.
The score for the first round consists of two parts:
1/3: Your score in the online course
2/3: Your score for the business idea that you submit
Score online course
You gain experience points by making contributions to the Lean Startup Entrepreneurship course, for example by answering a question, watching a video, or receiving positive feedback by others. The participant that gains most experience points (XP) receives a score of 100% for the online score, the worst participant 0%.
Other participants receive a score in between via the following formula: (gained XP participant/gained XP best participant) * 100 %
In case you participate with a team, the average score of the two best scoring team members is used. The jury will also set a threshold of a minimum number of points that a team has to obtain before it is submitted to round 2 of the competition.
Score business idea
Your idea is judged on different criteria by the jury. The average score of the different jury members makes up your score. A perfect idea would score 100 %, a totally useless idea 0%. Total score round 1 The total scores for round 1 is calculated as follows:
Score round 1 = 1/3 * score online course + 2/3* score business idea
Please note that the jury can exclude participants from the next round if it judges that a business idea is unethical or harmful for people or the planet.
Please let us know your best idea. Describe your business idea in not more than 2 A4 pages (font size 12, PDF) and make sure you answer the following questions:
Which problem does your business idea solve?
Which target group do you focus on?
What is novel about your business idea?
Which contribution does your business idea make to a better planet and society?
What makes you(r team) capable to turn your business idea into a business?