Module 2 – Business Concept in Bern

In this first session, we will  start with a short introductory session during which the course format will be presented, the major structural arrangements (group formation) will be completed, and essential aspects of the entrepreneurial process (the module in general) will be outlined.

In this second session we cover the topic of “Entrepreneurial Thinking”. Fostering and cultivating an entrepreneurial mindset is essential for knowledge and technology oriented startups (e.g., spin-offs of higher education institutions). Moreover, cultivating an entrepreneurial mindset in high tech startups needs to be aligned with people (diversity) and contextual factors. As we consider the course as a platform to match complementary knowledge and skills, we will form project teams for the practical exercises in the course.

In this session we will cover the topic of „developing products which are marketable“. Specifically, in this course evening you will develop:

• A model to estimate the market size and attractivity of your idea
• A first value proposition for you customers
• A first roadmap for product development

In this third session we will cover the topic of “relating to customers”. Identifying needs/wants and selecting the target market is an essential capability of every new venture; together with organizing its resources to satisfy customers profitably. Thus, a crucial element of the business/marketing plan is selecting the groups or segments of potential customers the firm is going to serve with each of its products.

In this course evening, you will receive some central frameworks and tools for identifying and selecting customers and position (business strategy) the offerings for achieving competitive advantages.

Together with your coach you will propose answers to the following questions start-up founders should ask themselves concerning digital marketing:

1. What online tools are there to evaluate the market for your business idea and for digital marketing?
2. How do you find out about the online marketing mix other businesses use to reach their target audience?
3. What is search engine optimization (SEO), how does it work and what are the pearls and pitfalls?

This session will cover the topic of “Financing the New Venture”. For creating knowledge and technology oriented start-ups (e.g., spin-offs of higher education institutions) the issue of „Financing“ is very important, as usually “market institutions” such as banks are not available. We will offer first-hand financing information from an experienced entrepreneur who is also a knowledgeable financier.

This session will cover the topic of “Intellectual Property”. For creating knowledge and technology oriented start-ups (e.g., spin-offs of higher education institutions) the issue of „Intellectual Property” (IP) is very important. In this session we give an introduction into the basics of IP protection with specific focus on patenting. More over participants will get the chance to learn from a real-life case study about IP and its protection.

As most entrepreneurial activities are performed by groups of people rather than by individuals, the relevance of teams in the entrepreneurial process will be discussed in this evening course. We will learn what to consider when forming, establishing and developing our own new venture teams.

Developing a strong team is essential to successfully transform business ideas into business models and, finally, business startups. We need to be well aware of how individual characteristics of our team members combine to result in various team processes and outcomes. Accordingly, in this session, we will discuss the main challenges that teams face as they move along the entrepreneurial process.

In this session we will cover and practice the topic of “Idea Pitching”. After generating your business idea – in which you believe in -, the next step is getting diverse stakeholders (especially investors) to believe in it, too. Indeed, an important skill for any entrepreneur is the ability to pitch the idea, the product, or project you intend to sell/market. You MUST pitch your idea in a way that is interesting, informative,and quick. An elevator pitch is a condensed, easy-to-understand version of a business pitch that is delivered in the time it takes to ride an elevator. In this course evening you will learn essential elements, the terminology and strategies, of a pitch.

In this course evening we will meet major stakeholders of the Bernese entrepreneurial ecosystem. We will offer our course participants first-hand information from representatives of key institutions involved in the Bernese ecosystem supportive of new ventures. From a higher institution perspective, (realizing that always entrepreneurs and not institutions are central), the major actors of the Bern area will be introduced to the participants. After the presentations, there will be time for individual discussions and networking.

In this final course evening we will have a presentation session of “THE BUSINESS CONCEPT” developed over the overall Module 2. At some point in time, every entrepreneur has to present a business plan to outsiders if she or he will seek support such as a loan or investment in the company. Obtaining venture capital funding, angel investment or even bank loans for a business is increasingly difficult in a tough economy. In fact, it is imperative to have a pitch and presentation that showcases your idea, your potential, your market and your ability to provide investors with a return on their investment. We know that the business pitch is different from the business plan. The pitch is a summary of the plan. You need to have your plan drafted before you can fine-tune your pitch. You will have the opportunity to present your project and some key points you have developed during the course to a panel of coaches / experts and receive feedback.