09.05.2016 | News & Interviews

“Wouldn’t it be great, if …” – Sparking and developing bright ideas at the Startup Weekend Munich

For the sixth time now, the TEG Startup Weekend was held in Munich. Over the last years, this three-day event has been gained great popularity with young entrepreneurs. Again supported by EY, it could continue its success story in 2016. This year’s focus was on Smart City.

The figures speak for themselves: 600 participants, 183 idea pitches, 90 final presentations, and at least three start-up launches per year since 2010. This year, the event took place from April 29th to May 1st 2016, featuring 13 teams that were given the opportunity to further develop their innovative ideas under the close supervision and guidance of successful entrepreneurs from different industries and professional backgrounds. Over the course of three days, the teams turned their ideas into viable business concepts, which were then ready for the final pitch on Sunday. A jury of experts crowned winners for the most innovative idea and the best pitch, and named the main winner of the event.

A great idea is only the starting point, but not the hardest part. To take innovative ideas to the next step, it is furthermore crucial to understand the triggers and indicators of a viable business models, as well as evaluate concepts with respect to market trends and drivers. Experienced coaches from various industries and the EY Strategy Team conducted a series of 13 45-minute workshops, in which they challenged and validated the ideas of each team. Our team included well-versed professionals in the fields of business model evaluation, innovation, and strategy such as the EY partners Bärbel Ellinger, Simon Meitz, and Vanessa Hasse. The participants from EY acted as a sounding board and sparring partner to discuss, substantiate, and structure business concepts based on the individual needs of each team. The spectrum of support ranged from generating and shaping customer-focused USPs to providing assistance in reviewing business plans with respect to market dynamics and competitive environments. Additionally, EY provided guidance on the development of best practices, methods and tools, helping young talents channel their spark of innovation and develop their ideas into solid business models.

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