Venture Lab [ELBEM190]

Learning outcomes

The seminar aims at making the students acquainted with the main strategic and operational steps in the process of setting up a new business. For this end, groups of 4 students prepare a realistic business plan, based on a new product or service to be developed by the group.

Content

Through this seminar, students will learn to manage an entrepreneurial project. They will develop a complete business plan for a new product or service. The business plan analyses the proposal in terms of: - the opportunity: the product/service and how it creates value to the customer; - the market: market analysis, competition, socio-economic and technologocial environment; - the instruments and resources needed: marketing plan, business systems (i.e.: organisation, production, logistics), human resource, financing; - risks involved: analysis of the key hypotheses underlying the business plan. The business plan should clearly formulate the "business model", which describes the interdependencies between the various elements of the business plan and identifies the drivers for revenue and costs in the new venture. The business plan also includes a comprehensive 3 year financial plan, enabling to evaluate the overall viability of the venture (pro forma balance sheets, income statements and cash flow statements).

Exercises description

Seminar participants take part in the annual "Generation Entreprendre" event, organized in October. They may also introduce their projects to the "1-2-3-GO" and the "Start Academy" business plan competitions.