BIC Startups organizes ideation workshops to help incubatees brainstorm on startup ideas and to equip them with knowledge and skills required to successfully commercialize their startup ideas. The training focuses on topics that will be crucial in the development of a startup and that are based upon the up-to-date incubation curriculum used by business incubators across the globe.
The workshop covers essential concepts like market research, identifying customer segments, devising value propositions, identifying market size and competitors, developing product offerings, prototype building, customer validation, developing business model and so on. The workshops are based upon the principles of lean startups and frugal innovation. The idea is to start lean and frugal to come up with a minimum viable product and then work on the product only if there is real market need established through market validation.
Most of the entrepreneurial undertakings fail due to various reasons. According to a study by Forbes magazine, 90% of the startups based in the US fail within the first 3 years. However, the most significant reason is because entrepreneurs have product ideas that do not have market needs. Excellent products with top-notch quality and functionality can fail if they don’t have enough customers. The model of lean startup, frugal innovation and MVP are highly relevant to test the assumptions of the entrepreneur before launching the startup in full swing. Besides this there are many other requirements that should be met for startup success. Legal and compliance requirements are also a must to be able to execute a business idea. BIC Startups delivers hands-on workshops and training on all these areas that are highly valuable to startup entrepreneurs.
The workshops that BIC Startups organize are completely activity based and require you to get your hands dirty. These workshops are not classes full of theoretical lectures but rather they are pragmatic and action-oriented facilitated sessions which will allow the incubatees to work on their ideas under the guidance of the expert trainers and coaches.