This week, the 4th year students completed their third feasibility study. Last week, 10 external idea owners presented their business ideas to the class. Some of these were selected by the teams, and put under scrutiny through five days of hard work. The students did research on the product, competitors, markets and possible business models, to mention some aspects of their feasibility studies. After gathering tons of information, the students have to process and communicate their findings in a short hand-in. On Friday all the groups presented their findings to the class and a panel of experts.
The feasibility tests include a lot of hard work, but is also a good way to get to know your classmates. In December the students will form teams, which will go on to create start-ups in January. As Paul Graham, co-founder of Y Combinator put it:
You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible.