08/10/2021
Entrepreneurship is a mindset—and it’s fundamental to our approach at IE University.
Interested in becoming entrepreneurial? You’re in luck. All our degree programs aim to cultivate entrepreneurial skills. Whether you’re at the master’s or executive stage of your business education, you’ll need to think out-of-the-box to stay ahead of global trends shaping industries in the digital age.
Through hands-on learning styles and a range of specialized training, being entrepreneurial comes easily to all our graduates.
Getting involved with entrepreneurship through extracurricular engagement is also great way to understand innovative approaches to business. Fortunately, at IE University we’ve cultivated a strong entrepreneurial ecosystem that combines hands-on experiences, networking, and international events. Among them, our Startup Lab is a creative hub that gives master’s students the chance to bring their innovative ideas to life.
What can the Startup Lab do for you?
When it comes to entrepreneurship, we believe that putting theory into practice shouldn’t wait until after graduation. So, at IE University, great business ideas don’t sit around collecting dust. The IE University Startup Lab was created to help students develop their business models, providing a unique opportunity for students to take their ventures from idea to minimum viable product (MVP).
The Startup Lab offers a crash course in kickstarting a business. This covers all bases such as marketing, funding, strategy and the legal aspects of entrepreneurship.
In addition, practical, year-round workshops led by experts help students to consolidate their business plan and prepare it for launch.
Steffany Photopoulos, Associate Director of full-time MBA programs, describes the initiative as “a five-week-long experiential pre-incubator” that teaches vital entrepreneurial skills. Throughout the project, participants learn “how to build their startup deck and iterate their business models to fit the markets they have validated.” Through academic workshops and modules delivered by world-class faculty members, participants in the Startup Lab get to grips with “design thinking and the tools and metrics needed” for successful entrepreneurship.
Steffany also emphasizes the practical aspect of the Startup Lab. The lab features weekly pitches to simulate valuation and get students into the mindset needed to deliver an impactful presentation. This happens through close collaboration with fellow students as well as experienced faculty. As she says, “working with a dedicated mentor from the start and tapping into a pool of industry experts and entrepreneurs means the opportunities for students to grow their network and key learnings are limitless.”
Put your business plan into action
Whether you have a complete plan or just an idea, the Startup Lab’s resources will set you up for success. As a bustling environment of innovation and creativity, participants connect with a pool of inspiring entrepreneurs composed of both faculty and fellow students.
As you gain access to the toolkits for fine-tuning your business plan, you’ll also grow your network.
Of course, bringing your business to life means getting yourself out there. International MBA alum Eben de Jongh, founder and managing director of his own startup, was impressed by the practicality of the Startup Lab. For him, “the most challenging aspect is having to pitch every single week.” As he recalls, that meant presenting a brand new business idea to a panel of investors just five days into the program—this is essential for showing the budding entrepreneur how to get the best of themself.
Jason Yeager, now working in talent acquisition at Speechify, also took part in the Startup Lab in 2019. He also took valuable lessons from the practical components of the program. These emphasized the importance of persistence and “the amount of action you have to put in every single day.”
The Startup Lab enables you to get your ideas off paper and into the real world. By the end of the five weeks, you’ll have a complete concept, plan and business pitch to present to angel investors. As a simulation of entrepreneurial processes, it’s a truly unique opportunity to get ahead in the world of startups.
Intrepraneur or entrepreneur? How to define your journey
With such a mix of talents and aspirations at IE University, we know not all students want their own startup. However, you’ll also learn to apply the skills you learn in the Startup Lab within an organization. And with an even more digital landscape of remote work, intrapreneurship is especially important.
Many companies are now recognizing the value of entrepreneurial skills and viewing the entrepreneurial mindset as a competitive advantage. With the growth of the agile organization, you’ll need to master the ability to manage change, adapt and innovate rapidly. Professor Rocío Bonet of IE Business School notes that it is increasingly common for companies to have an intrapreneurship strategy to help employees in becoming entrepreneurial.
With that in mind, IE University offers you the flexibility to tailor your in-lab learning to your individual career path. As Steffany Photopoulos explains, “whether you are a student looking to start your own business, work for a startup post-grad, or apply your learnings within a company in terms of intrapreneurship, all of our on-campus lab options afford students the opportunity to kick-start their networking and knowledge-sharing.”
Future-proof your career to disrupt business
Like all programs at IE University, the Startup Lab prioritizes updated, real-world insights. That means that you’re prepared to hit the ground running in the next phase of your entrepreneurial journey. In Steffany’s words: “we continue to push and redesign the program by renewing curricula and incorporating the latest trends.”
In terms of transferable skills, the Startup Lab is a great way to strengthen the entrepreneurial mindset that is so in-demand across industries. Even if your venture doesn’t end up coming to fruition, participants take away a number of impressive abilities. Among them are networking, cultivating customer engagement, and seizing opportunities for innovation. All will serve you in a future business landscape dominated by digital disruption.
Plus, if enrolled on an MBA program, you’ll also be able to choose from a range of entrepreneurial electives after completing the Startup Lab.
We’ll help you shape your journey by providing the space, toolkits and resources you need to reach your goals.
At IE University, we’re there for you at every step of your career journey. Aiming to build your own startup? Want to use your intrapreneurial skills in the corporate world? The Startup Lab could be your launchpad to greater things!
