Introduction to the European BP competition Mikkel Draebye, Professor Department for Strategic and Entrepreneurial Management Coordinator of MBA Entrepreneurship.

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Contents of the Presentation

Presentation transcript:

Introduction to the European BP competition Mikkel Draebye, Professor Department for Strategic and Entrepreneurial Management Coordinator of MBA Entrepreneurship projects SDA Bocconi School of Management

Agenda What is it, What does the school do, what does the e-club do What are the judging criteria Idea evaluation

EBPYC Consortia owned (Insead, LBS, Bocconi, RSM, IESE, ALBA……..) 2008 edition 1 of June SDA funds the participation of 1 team (3 persons)

BP evaluation criteria

Idea evaluation

The Entrepreneurial Process Business Idea Clear Coherent Competitive Yes Realistic Business Planning Yes

The Idea Innovative or not? Valid Client need perspective Unmet Unarticulated Unsolved problems Client experience perspective Better customer experience Challenging Industry orthodoxies Are you changing the rules Trends Are you riding off trends Core competencies Are you leveraging existing resources/competencies

Clarity Who are the customers are we going to target? Which needs will we satisfy? With what product system? How will we make the customers know our product exists? How will we distribute it? How will we produce it? Market Segment Product system Business System From the vision … Market Segment Product system Business system … to the business idea

Coherence Does product/service characteristics math KSF’s in segment? Is the target market coherent with approximate break-even point (in volume) of project? Realistic market share

Competitiveness Is the target segment very attractive ? High growth Exclusivity 5-forces in general Does the product/service has a clear competitive advantage Does the business control unique resources/distinctive competencies?

Realistic After having refined the idea (clarity, coherence and competitiveness) you should: Call/meet a few (5-10) potential clients and listen to their observations Call/meet potential partners (not investors!) Talk to industry experts If this phase does not kill your idea - proceed