Start-ups develop innovative products and stimulate the labor market, competition and society. But the path to self-employment is not easy, because many factors have to be considered for a successful start-up. The simulation Startup Essentials enables participants to go through the typical steps of a business start-up and learn how to manage their own company.
What is Startup Essentials?
In the business simulation Entrepreneurship Essentials we are simulating the Startup process – from business idea to launching the company. The example used is that of a surfboard manufacturer. Whereas in our other simulations participants manage an existing company, here we take them through the paces of setting up a business:
- Brainstorming and developing a business model
- Creation of a business plan
- Negotiation with investors about the financing
- Successfully launching the business
During the development of the business model and the preparation of the business plan, the participants receive support through the business planning tool and the newly developed search platform “Startup Web”. Part of the exercise is for them to convince the investors about their business idea and thus secure the necessary capital. Only after the start-up phase finishes do the participants assume the role of the company management and can analyze the success of their business model and the previously defined strategy in the market.
How can Startup Essentials be used?
Similarly to the business simulation Management Essentials, Startup Essentials is one of the business simulations that conveys the basic knowledge of business management. Thus, it is ideally suited for introductory events within the framework of Bachelor’s and Master’s degree programs in all fields of study, business management seminars and start-up companies as well as any corporate courses that foster innovation and entrepreneurship.
What learning objectives are tackled with Startup Essentials?
This business simulation introduces participants to the basics of start-up management and business administration:
Would you like to know more about Startup Essentials? The short description of the business simulation can be downloaded here as a PDF.