In E&I Venture Building, students engage in the practical implementation of entrepreneurial concepts, focusing on business planning and the Lean Startup method. Students support real founders and entrepreneurs in creating a new business. Based on thourough analysis (e.g. customer analysis, market analysis, hypothesis testing), the students will provide specific and actionable recommendations to their project partner.

For this purpose, students will be engaged in analyzing secondary data (e.g. market reports) and  in collecting primary data (e.g. via surveys, interviews or prototype testing).

The course starts with a kick-off event. During the kick-off, students form teams, select a project, get to know their project partner, learn about theory and tools useful for a venture creation, directly applying them to projects. The aim is to understand the importance of the build-measure-learn cycle, and which elements constitute it.

During the semester, the teams work independently. All teams will receive indidual feedback in coaching sessions from the lecturers and external coaches. Coaching sessions are agreed upon individually with the lecturers and external coaches. Additionally, there are four topic-specific workshops (e.g. marketing or finance). The project results will be presented in form of an final presentation to the lecturers and the project partner at the of the semester.

The aim of the course is to understand the component of new venture creation based on theoretical input and practical application. This is one of the most important pillars in entrepreneurship training. To achieve the learning outcome, students will closely work together with real entrepreneurs and start-ups and provide advice based on thorough analysis. Through the interaction with lecturers, external coaches, and project partners, students get insights into the field of entrepreneurship and innovation.

After successfully completing the project course "Venture Building", students will have learned and/or applied the following competences and skills:

Technical and professional skills:

• conceptualize an innovative business idea
• analyze and assess the marketability
• develop a suitable business model
• write a project plan
• develop a financial plan
• learn how to create a compelling presentation
• review and further develop approaches and assumptions with iterative tests and feedback loops

Transferable skills:

• experience group processes and dynamics in heterogeneous teams and reflect on them
• independently structure and handle complex innovation projects in teams
• practice project management skills and train communication skills
• create result-oriented presentations and reports
• identify synergy effects in interdisciplinary collaboration and learn how to benefit from them

In addition, students will have...

• trained their skills in dealing with a real innovation project and gained experience with tolerance for ambiguity
• trained and expanded their skills in professional written and oral communication
• learned how to use complex and effective tools (e.g. databases) for researching and obtaining data for a task
• trained how to present information convincingly

As the interaction with other students as well as external stakeholders is an integral part of this course, active participation in-person is important.

Students must attend at least 80% of all classes and events to successfully complete the course. However, due to their importance in reaching the course goals, 100% attendance is required for the kick-off, mid-term and final presentations as well as the E&I Touchdown event. For the kickoff, absences (up to maximum of 1,5h) due to a scheduled written exam at WU can be excused if the course instructors are notified with a proof of examination before the kickoff.

In general, all absences in the course must be notified to the course instructors via email (if possible in advance) and confirmation (for example a medical certificate, or in case of an exam a note confirming the date of the written examination) must be submitted as soon as possible. Absences can result in additional compensation work to ensure the course's learning outcomes.

E&I Venture Building consists of classes for all students and individual team coaching sessions.

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. Each team individually schedules a time slot with the lecturer and the project partner.

Except for the 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.

 

• Kick-off event with theoretical input, project selection, project partner meeting, and networking
• Teamwork during the semester
• Work on a real project in your project team under the guidance of the lecturers and with support of external coaches
• Collaborate with a project partner
• Milestone meetings with the project partner
• Workshops on several topics (i.a. financial planning, marketing)
• Presentation and discussion of results
• A written report and a final presentation

Performance is assessed based on individual as well as group work throughout the semester.

Grading system:

60% Group-based performance

• 10% Midterm presentation
• 10% Midterm report
• 15% Final presentation
• 20% Final report
• 5% Touchdown

40% Individual performance

• 10% Kickoff Comprehension Test
• 25% Ongoing participation and project management
• 5% Reflection task

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.

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richard.olbrecht@wu.ac.at and diana.lauer@wu.ac.at