From a business concept


to real revenue.

triangle
About Us

StartUPVIP.hu

STARTupVIP – The Startup Business Venture Implementation Program

STARTupVIP – The Startup Business Venture Implementation Program

 “From business concept to real revenue.”

 The Startup Business Venture Implementation Program will commence in February 2014. An experimental IVIM-KIVIM (Starting & Managing Innovative Ventures - Starting & Managing Small Businesses) 2.0 business development course will be offered within the framework to those students who intend to start their own business within six months and therefore would welcome intellectual, technical or financial support.

 The need/demand/problem

More and more students are ready to launch their own business, if they are able to receive external intellectual, technical or possibly financial support.

In order to grow the number of businesses, it is not enough to have an idea, develop a business plan or one’s business knowledge; it has to be executed, too. In entrepreneurship education, students usually only get to the preparation stage of launching a business venture, but they don’t tend to gain real life experience by actually launching their own business.

More and more students look for opportunities where they can get encouragement, advice, and professional help with an actual launch, and occasionally they also need a location and possibly money to create a prototype.

 The solution

STARTupVIP is a rather practice-oriented, experiential learning program on the one hand, but it is also a service and a support incubation infrastructure, which helps university and college students to actually launch their own business.

 The aim of the program:

To prepare the youths who have completed their basic entrepreneurship studies (IVIM, KIVIM) and have a viable business idea to:

  • start their own business and generate revenue within five months (in case of a traditional business idea);
  • prepare to raise capital and launch the business (in case of an innovation driven business idea);
  • actually launch their own business, and not only have textbook knowledge of it.

 The content of the development program:

The IVIM-KIVIM 2.0 development program guides the students through the process, which begins with the already prepared business concept (entry condition), and the market launch and finishes with the first revenue, or in some cases is continued through a further incubation phase.

 The phases of the business venture launch process are:

  • establishing the business venture team
  • Redefining the business concept
  • Developing and testing the product/service
  • Acquiring the capital needs
  • Founding the company
  • Establishing the basic functions of the company
  • Managing marketing and sales to the market entry

 The services:

STARTupVIP offers the following functional services:

  • Temporary office space at the BME Technology Lab
  • Entrepreneurship training in connection with the various phases of the process
  • Facilitated experience exchange meetings between participants in the program
  • Mentoring using volunteers with experience relevant to the various projects
  • Obtaining expert services from volunteer specialists
  • Expert search – finding the appropriate experts for the project
  • Early phase financing (seed fund) by involving business angels or Venture Capital funds
  • Study tours (competitions, gaining experience abroad)
  • Preparation for exhibitions, competitions

In the friendly, supportive, inspiring and competitive atmosphere of STARTupVIP, students are encouraged to realize their ideas, learn from each other and others.

Application

You should apply for STARTupVIP if:

a) you already have a ready business concept deemed viable by www.startmybusiness123.com and have used the Startup Business Concept Map;

b) you already have a team of 3-5 with whom you want to launch your business;

c) at least two people in your team have completed the Starting & Managing Innovative Ventures (IVIM) 1.0 course at BME or the Starting & Managing Small Businesses (KIVIM) course at Corvinus;

d) you agree to proactively participate in the IVIM-KVIM 2.0 business development course on a weekly basis, every Wednesday between 16:15 and 18:00 hours and to devote at least one more day a week to your project, and occasionally participate in complementary training sessions;

e) you agree to do everything possible to make sure your business generates revenue by no later than 30 June, 2014;

f) you agree to wire1% of your revenue generated by 30 June 2015 to the bank account of STARTupVIP, and furthermore, and additional 1% of your revenue to the bank account of a business development fund, the choice of STARTupVIP.

 STARTupVIP agrees

a) to select the teams for the program based on the submitted business plans and through an elevator pitch competition and in cooperation with experienced entrepreneurs, investors and instructors;

b) to provide work space at the BME Innovation Lab, where the teams will be allowed to work free of charge between 1 February and 30 June, 2014;

c) to deliver a training session of the IVIM-KVIM 2.0 business development course once a week, on Wednesdays between 16:15 and 18:00 hours with the involvement of university professors, experienced entrepreneurs, and specialists (Due to the experimental nature of the IVIM - KIVIM 2.0 course, students will not receive credit for their participation, however, they can acquire valuable experience in actually launching a business.);

d) to do everything possible to ensure that each student group has a mentor who provides appropriate direct or indirect support for the groups as needed;

e) to do everything possible to ensure that the teams are prepared to participate in the events and competitions available for young entrepreneurs;

f) to help set up meetings aimed at raising capital, if needed.

 Should you have any questions, please write to us at info@startupvip.org. For further details about the program, registration requirements and for registration please visit our website at: www.startupvip.org.

 

30 December 2013, Budapest