Entrepreneurship Summer School: A Unique Opportunity to Shape and Test Venture Ideas
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July – September 2024
•
Wasting time on ideas that are not viable is a tragedy!
•
We see it all the time.
•
ESS designed to be the antidote – We force you to take your new venture
idea and
•
Shape it
•
Test it
•
Fail fast, fail cheap
•
If viable then pursue (NVD, FEB, Launchpad, incubator…)
•
The entrepreneurial management process that begins with an
opportunity.
W
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Mentored Due Diligence:
•
Field-based research on
your
opportunity…
•
Working individually (or in pairs or trios)…
•
Under the
guidance
of a seasoned, experienced mentor.
Outcome:
“An evidence-based snapshot of the viability of your venture”.
4
W
h
y
i
s
E
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You work on your opportunity, but:
As part of a larger support network (us, mentors, each other)
For motivational credit
Following a rigorous methodology (which you’ll use forever more).
o
Spans summer – classroom at beginning, ‘middle’ and end but otherwise ‘field
research’
o
Many actors – not just the two of us.
o
Each team provided with an experienced mentor.
o
Application only (to weed out mere auditors).
o
Final presentations serious stuff (unlike Launchpad etc)
o
Seems to be a lasting community….
5
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Lots of stuff that isn’t taught elsewhere:
•
B2B cold-calling, interviewing methodology, ‘power networking’
•
B2C market research – secondary (survey), primary (on street)
•
Legal, IP
•
MVPs, demonstrators, smokescreen web-design
•
Pitching, persuasive presentations
•
Entrepreneurial team-building
•
Hustle, cold-calling, sales, engaging senior people Social media, influencing, inbound marketing
Plus ~ 120 contributors last year
•
Panel discussions with investors, entrepreneurs
•
Professional Trainers (when we’re not).
•
ESS alumni & Peer group support
•
Experienced judges, mentors
6
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e
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:
Feasibility study presentations:
•
Delivered to and partially- graded by panel of investors and entrepreneurs
•
25 min slots – time to present and be challenged on evidence & conclusion.
Prize for best argued ‘viable’ & ‘non-viable’
7
W
h
o
S
h
o
u
l
d
a
p
p
l
y
?
It’s for you, if:
•
You have an idea you’re intrigued by and wish to pursue
now
•
You need structure, motivation to get going.
•
You’d like to check your aptitude & liking for the life entrepreneurial
•
You’d value working closely with like-minded others:
•
Each other (ESS = entrepreneurial cauldron)
•
Experienced mentor (must-have)
•
Others in LBS entrepreneurship community
Not for you if:
•
Your idea is too late, too early
•
You don’t have an idea that engages you
•
Your interest is purely academic
•
Elective filling
8
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e
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h
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t
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f
y
Three criteria:
1.
Must enthuse you.
2.
Complex value chain – enough varied unknowns to explore
3.
Ambition
Agnostic on:
•
Sector
•
For profit, for purpose
•
B2B, B2C etc
•
Sector background (often not)
But not:
•
Pure arbitrage (exploit before the opportunity collapses)
•
Consultancy (go out and get a client)
•
Single location restaurant, outlet
9
Your application is part of the methodology
At this stage you merely have an idea
The ESS application process requires you to:
•
Define your plan A opportunity
•
Objectively assess
- Is this an attractive market?
-
Is this an attractive industry?
The idea is already becoming an opportunity.
10
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Submit your
CV,
personal mission statement
,
and
opportunity overview
per ESS
website,
12 May 2024
- Open for and accepting applications now.
- First-come, first-served until April 30th then allocated on merit.
- Limited to
60 (of which ~10% external)
See:
•
www.london.edu/summer_school
•
http://innovation.london.edu/resource/247/index.html
Q
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www.london.edu/
summerschool
]
"Entrepreneurship Summer School (ESS) offers a hands-on approach to shaping and testing new venture ideas. Through mentored due diligence and a rigorous methodology, participants engage in field-based research to determine the viability of their opportunities. ESS stands out by providing a supportive network, motivational credit, and lasting community, culminating in feasibility study presentations to a panel of investors and entrepreneurs. Join ESS to fast-track your entrepreneurial journey!"
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Presentation Transcript
Entrepreneurship Summer School Jeff Skinner & Osman Haneef July September 2024 london.edu
Why did we create ESS? Wasting time on ideas that are not viable is a tragedy! We see it all the time. ESS designed to be the antidote We force you to take your new venture idea and Shape it Test it Fail fast, fail cheap If viable then pursue (NVD, FEB, Launchpad, incubator ) The entrepreneurial management process that begins with an opportunity. london.edu
The Heart of ESS Mentored Due Diligence: Field-based research on youropportunity Working individually (or in pairs or trios) Under the guidance of a seasoned, experienced mentor. Outcome: An evidence-based snapshot of the viability of your venture . london.edu 3
Why is ESS different (the gap it fills)? o You work on your opportunity, but: As part of a larger support network (us, mentors, each other) For motivational credit Following a rigorous methodology (which you ll use forever more). o Spans summer classroom at beginning, middle and end but otherwise field research o Many actors not just the two of us. o Each team provided with an experienced mentor. o Application only (to weed out mere auditors). o Final presentations serious stuff (unlike Launchpad etc) o Seems to be a lasting community . london.edu 4
The Block Week & Weekend (July) Lots of stuff that isn t taught elsewhere: B2B cold-calling, interviewing methodology, power networking B2C market research secondary (survey), primary (on street) Legal, IP MVPs, demonstrators, smokescreen web-design Pitching, persuasive presentations Entrepreneurial team-building Hustle, cold-calling, sales, engaging senior people Social media, influencing, inbound marketing Plus ~ 120 contributors last year Panel discussions with investors, entrepreneurs Professional Trainers (when we re not). ESS alumni & Peer group support Experienced judges, mentors london.edu 5
The Outcome (September): Feasibility study presentations: Delivered to and partially- graded by panel of investors and entrepreneurs 25 min slots time to present and be challenged on evidence & conclusion. Prize for best argued viable & non-viable london.edu 6
Who Should apply? It s for you, if: You have an idea you re intrigued by and wish to pursue now You need structure, motivation to get going. You d like to check your aptitude & liking for the life entrepreneurial You d value working closely with like-minded others: Each other (ESS = entrepreneurial cauldron) Experienced mentor (must-have) Others in LBS entrepreneurship community Not for you if: Your idea is too late, too early You don t have an idea that engages you Your interest is purely academic Elective filling london.edu 7
Ideas that qualify Three criteria: 1. Must enthuse you. 2. Complex value chain enough varied unknowns to explore 3. Ambition Agnostic on: Sector For profit, for purpose B2B, B2C etc Sector background (often not) But not: Pure arbitrage (exploit before the opportunity collapses) Consultancy (go out and get a client) Single location restaurant, outlet london.edu 8
Your application is part of the methodology At this stage you merely have an idea The ESS application process requires you to: Define your plan A opportunity Objectively assess - Is this an attractive market? - Is this an attractive industry? The idea is already becoming an opportunity. london.edu 9
Overview of ESS 2024 Application deadline 12th May 2024 23:59 UK time Block week 15th 19th July 2024 (Monday - Friday) Block Weekend 1st 3rd August 2024 (Thursday Saturday) Field-based research on opportunity Mid-July through mid-September Final presentations, course wrap-up, and awards 6th - 7th September 2024 (Friday & Saturday) london.edu 10
Next Steps to Join Summer School 2024 Submit your CV, personal mission statement, and opportunity overview per ESS website, 12 May 2024 - Open for and accepting applications now. - First-come, first-served until April 30th then allocated on merit. - Limited to 60 (of which ~10% external) See: www.london.edu/summer_school http://innovation.london.edu/resource/247/index.html london.edu 11
Questions? Jeff Skinner: jskinner@london.edu Osman Haneef: ohaneef@London.edu Faculty Assistant: LanaGolubeva sgolubeva@london.edu or [www.london.edu/summerschool] london.edu
