The course "Fintech Lab - Design your own start-up" is a cooperation of the Institute for Finance, Banking & Insurance and the Institute for Entrepreneurship & Innovation.
The term “FinTech” covers a broad area. On the one hand, the term "FinTech" is used to describe start-ups that are active in the financial services sector. On the other hand, the term "FinTech" refers to a variety of new ideas that improve financial services through the use of new technologies, customer-oriented processes and new business models.
In this course, the participants’ objective is to generate Fintech ideas, to form interdisciplinary teams around these ideas and to develop them from a first flash of inspiration into a business proposal (ie. a very early-stage business plan).
To this end, in a first stage current trends in the Fintech sector (sub-sectors, business models, technologies, etc.) are discussed using concrete examples. These inputs will be complemented by concrete insights from external lecturers and guests. Additionally, the course covers common ideation techniques, start-up methods (such as Business Model Canvas, Lean Start-up Method) and management tools.
In a second stage, students will work on their own ideas. During the business modelling stage, the student-teams receive feedback from expert lecturers Alexander Eisl (CSO Fincredible), Evgeniia Filippova (Start-up expert MCI) and Mariella Schultes (Innovation manager at RWA).
After completing the course, students are able to
- develop business ideas from a first flash of inspiration to a first business proposal.
- analyze business ideas for their strengths, weaknesses, potentials and risks.
- apply their theoretical knowledge of tools and methods for the evaluation of business ideas in practice.
- give an overview of current developments in the FinTech sector and typical characteristics of FinTechs.
In the course, students also learn and train to
- organize and coordinate interdisciplinary teams.
- tackle complex tasks and problems independently.
- develop, present and defend own results/solutions/approaches.
- use presentation media appropriately.
General information with regards to attendance:
In order to complete the course, you may not miss more than 20% of the course.
Please note: Normal attendance at WU campus is required to complete this course.
The course follows a practical, problem-based learning approach, consisting of
- theoretical inputs including practical examples on the topics of FinTech and start-up methodology.
- the application of the theoretical course content on self-developed start-up ideas.
- working together in interdisciplinary teams.
- the presentation of the final business proposal at the end of the course.
- In this process, the student teams are supported by the lecturers and receive regular feedback on group as well as individual performance.
This course is aimed at students of the SBWL/specialization Entrepreneurship and Innovation and the SBWL/specialization Finance,
- who are interested in start-ups and in innovations in the financial sector.
- who would like to work in interdisciplinary teams on ideas in the Fintech area.
Please also note the following information:
- General: The generation of ideas is part of the course. It is therefore not necessary that you already have an idea at the beginning of the course.
- Especially for students of the SBWL E&I: The basic concept of the course is comparable to the project course "Garage". Therefore, in our experience, attendance of both courses is not advisable.