INNOVATION – We seek applications from dynamic teams who put forth innovative (novel, extraordinary, revolutionary) ideas, solutions and business models preferably those that incorporate emerging technologies into their solutions (products/services) and/or business models.Admissions to Venture Lab are final and not subject to appeal.(*Note that IMBA elective-credit seeking students have additional team requirements. individuals can neither submit more than one startup-idea application (as team leader), nor can they be team members on more than one Venture Lab application. Individuals can only participate in one Venture Lab application, i.e.The IE team member must be physically present in Madrid and play an active, key role in the team Teams must include at least one current IE student or alumni that graduated within the last 6 months.Teams must consist of at least 2 team members and no more than 4 team members.Ultimately, the goal of the Venture Lab is to prove that your idea is more than an idea and that through Manual Simulation, short of charging customers for the product or service, you can show that the idea has real traction. Validating a market opportunity is about trying to get the right product-market fit, offering a solution that people not only want but for which they are willing to pay. You can expect your original idea to morph, change, and evolve over the duration of the program – which is also a key aspect of the entrepreneurial process. A successful Venture Lab experience is not necessarily the launch of a company but one in which each team completes the program at best with a business idea developed sufficiently to be prepared to launch and at a minimum with an understanding of what is truly required to launch a startup. Success in entrepreneurship lies not only in the value of the idea but even more so in the execution of that idea. The entire focus of the Venture Lab is market validation and obtaining enough data to be ready to move from Pre-Launch activities to Launch. The ultimate aim is to complete the program with a short list of fully engaged users of your product/service. It is also an elective within the International MBA program. IE’s Venture Lab is a program that is open to all IE students and alumni. This means that their ideas have been thoroughly developed to the point where there is validation data (metrics) that shows customer interest, user engagement, and revenue potential from future clients. It gives teams hands-on experience in the world of high impact entrepreneurship. The aim of the Venture Lab is to aid teams in creating ready-to-launch startup projects.
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