In the "E&I Garage: Build your own Start-up" students channel their inner entrepreneur and build start-ups based on their own business ideas. Students work in teams of 4-6 as part of a structured process. Course instructors and external coaches mentor teams at every step as they transform an initially rough idea into a persuasive business concept. Student start-up teams present their business ideas and profit-oriented business models to potential investors and other experts at the end of the semester.
In this class, students learn to use tools and methods helpful for identifying, evaluating and realizing technology-oriented, explorative business ideas. As this class is built on the logic of the lean start-up method, students are expected to immediately put theory to practice (interview potential customers, build prototypes, develop financial plans, build a pitch deck etc.) to really experience what it means to be founder.
The E&I Garage course is one of the application-oriented project courses. The aim of the course is to deepen and extend the theoretical skills of the students through practical application to a real case.
After positive completion of E&I Garage,
· Students are able to search for, recognize and evaluate innovative business opportunities.
· Students can develop business ideas using the appropriate methods and tools.
· Students can identify customers and their needs,
· Students can analyze and evaluate the environment around a business idea.
· Students can develop sustainable business models.
· Students can apply creative techniques.
In addition, participants expand their soft skills (communication, presentation, project and time management) by working with team members, coaches and external partners.
To complete this course with a positive grade, students must attend 80% of scheduled classes (exception: 100% attendance at literature test, kick-off, mid-term and final presentation as well as the E&I Touchdown event).
E&I Garage consists of classes for all students and individual team coaching sessions. There are usually three coaching sessions à approx. 1 hour. Each team individually schedules a time slot with the lecturer within the time period of
- November 10-12, 2021
- November 24-26, 2021
- December 10-12, 2021
Other than the coaching session, there is no class taking place on these days.
Furthermore, there will be a mid-term and a final presentation of the project.
- November 17, 2021 (mid-term presentation)
- January 19, 2022 (final presentation)
Except for literature test and kick-off, all other dates shown are subject to change! More detailed information can be found at the introductory event and at the kick-off. Most dates are either arranged individually with course instructors and project partners or take place externally. This is not unusual for innovation projects. Exact dates for the presentations, workshops and coachings will follow at the Kick-off.
· Self-study (literature package)
· Teaching and discussion of theoretical basics on two kick-off days (lecture, working on the project assignments, group discussions, team work)
· Group-based work on real and relevant projects in close cooperation with course instructors and practical coaches
· Workshops and coaching by external partners (experts from the Austrian startup ecosystem)
· Peer feedback
· Documentation and presentation of work progress and results
Performance is assessed based on individual as well as group work throughout the semester.
60% Group-based performance
- 10% Midterm presentation
- 10% Midterm report
- 20% Final presentation
- 20% Final report
40% Individual performance
- 10% Literature test
- 25% ongoing participation and project management
- 5% Reflection essay
Add. 1. Literature test
The literature test takes place on the WU campus on October 1st, 2021, from 8:00 - 8:30 am. Please take any delay due to checking of the 3G rules into account and plan to arrive early. The test examines the basic and in-depth knowledge that is absolutely necessary for the participation in the projects. Therefore, you can find a literature list @learn with basic literature and course-specific additional literature for self-study. If you fail the literature test (less than 50%), you will be automatically transferred to the Analyst Support Program. As a student in the Analyst Support Program (ASP), you will work individually instead of working on a group-based project during the semester. The course instructors are responsible for the design of the program. In case of non-participation (e.g. due to illness) a medical certificate must be presented. For this purpose, a substitute exam will be offered.
Students enrolled in the Entrepreneurship and Innovation Specialization Program.
Please note that course registration is binding. The moment your registration is received, it is regarded as a clear commitment on your part. Students cannot transfer to another course (once the add/drop period is over) with no exceptions, as it would be unfair to other students (who might not have gotten into the course of their choice because of the spot you registered for). The number of students accepted to the course will only be expanded if there is no space in any other course 4/5.
Attention: the obligatory literature test will be held on 1 March 2021 between 8 and 9 am. Course participation is only possible by passing the literature test – if you cannot attend the test, we kindly ask you to not register for this course. Detailed information regarding contents and location of the test will be provided after the registration phase for this course. The literature test in this course overlaps with other courses within Course 4&5 of the specialization Entrepreneurship & Innovation. A parallel attendance of these courses is not possible.
This course is taught in English.