Developing ideas into businesses – with a little help from professionals
How can young people become entrepreneurs in 52 hours? The answer is simple: Start-up Weekend Munich, a three-day event where participants develop their ideas in teams into solid businesses organized by The Entrepreneurial Group (TEG).
This year Start-up Weekend Munich was held on 8th-10th of May and collected more than 80 goal-oriented students and young professionals. Out of 40 pitches, thirteen teams were formed with a variety of business ideas. However, as it is well known, ideas are worth not much without deep understanding of the business models
This is why on Saturday, 9th of May, the team players of Transaction Advisory Services at EY visited Start-up Weekend to rescue the teams from “potentially wrong business assumptions”. All thirteen teams had a workshop during 45 minutes with seven EY professionals who challenged their business models with a customized questionnaire. As a result, everybody applied professional advice from the EY team members and presented solid business ideas on Sunday night. Jobninja, the most innovative team that offers easy and cheap job allocation solution, received a chance to build their start-up with a customized coaching by members of the EY global network over the next six months. The winners take it all, supported by EY!
By Alexander Schmitt, Chief Financial Officer, TEG e.V. (registered association) and Ekaterina Kholodilina, TEG e.V. team member
Workshop participant’s feedback
“Definitely recommended! We had the chance to take part of a workshop provided by EY on Saturday afternoon. I'll be honest here. We expected pretty much nothing from it as it sounded a bit corporate and went there with no expectations. How wrong we were! The people from EY were awesome and from the very first minute they asked perfect questions. They gave us guidance to find a working business model and it came exactly at the point where we needed it the most! Thank you guys, we appreciate it!!“
Adam Juras, Managing Partner, Hipwerk S.R.L.