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:
Attendance is mandatory for every lecture. This means, that in order to successfully complete the course, you cannot miss more than 20% of the course (4,5 hours in total). Given the current situation, special situations will be accounted for and we will make sure that everyone can participate (e.g. students who have to quarantine).
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.