Have you ever thought about starting a business? If yes, then you are in luck. Students worldwide are embracing the concept of entrepreneurship and using it to launch new enterprises. These students can achieve their dreams if given the appropriate direction. The Financial Times placed IE first in Europe and fourth overall for entrepreneurship. This institution provides students with the opportunity to express their creativity and resources to make their dreams a reality. We are, therefore, fortunate that IE offers a variety of classes to teach us these valuable skills.
“At IE University, we encourage our students to pursue their entrepreneurial ambitions, whatever they may be.” (Isabela del Alcázar, Global Head of Entrepreneurship at IE University)
Labs
are guided work areas where students create professional projects and collaborate directly with organizations and businesses. This allows students to gain professional experience during their first two years. An example is the startup LAB, in which students must complete an entire product development process. To achieve this, they get to work in teams to develop a project throughout the semester. If the professors favorably receive the proposal, the student group can get the opportunity to speak in front of possible investors.
Similarly, the venture lab is offered for more developed concepts. This is an additional chance for students and alumni to network, examine market prospects, nurture company ideas, and accelerate growth. The Venture Lab’s mission is to support groups in developing startup projects ready for launch. Teams get firsthand experience in the high-impact entrepreneurial sector. Resulting ideas, therefore, have undergone a thorough development process in which validation data is developed. Providing information regarding consumer interest, user engagement, and income potential. All in all, this opportunity is open to all IE students and is even an elective for the MBA program.
Opportunities within the academic curriculum
Learning how to start an enterprise is a core academic subject at IE, not merely an extracurricular activity. Every bachelor’s student is required to take courses that foster innovation and entrepreneurship skills. Some examples are technology, entrepreneurship, and the IE Challenge. For degrees directly related to the subject, courses like venture creation and planning are also included in the curriculum. These classes represent a great opportunity for students to develop soft skills, which are essential for remaining competitive in today’s labor market.
IE’s entrepreneurial success
The effectiveness of IE’s promising approach does not go unnoticed. At Venture Days—the university’s annual worldwide event to encourage entrepreneurship—the top businesses from IE University have secured €80 million in capital over the past nine years. In addition, fifteen finalists in the most recent competition were able to showcase their work in front of a jury and an audience of entrepreneurs and investors from around the world.
This contest’s winners are IE undergraduate students who created startups such as Rhyde, Refuge, and Safety. Rhyde seeks to reduce the carbon footprint of urban transportation through sustainable micro-mobility solutions. On the other hand, Refuge was created to support the community of scooter manufacturers and users in evolving under an alliance based on sustainability and biodiversity.
The winners of the Venture Lab’s 25th edition (2022) are two other platforms that also deserve recognition. The first is Everwill, an outstanding online service that offers typical funeral packages that may be ordered online without additional costs. The second is Giraez, which offers a safe platform for community-enabled remittance services and solutions to enhance the social and financial wellness of migrant workers.
With the continuous improvement of entrepreneurial courses and opportunities, it is expected that more undergraduate initiatives will emerge and achieve success. While also strengthening Venture Day’s initiative.
Now what?
In order to become a student entrepreneur, you need to keep a few key things in mind. First and foremost, you need to have an entrepreneurial mindset. This means thinking outside the box, being creative, and being willing to take risks. Secondly, you need to have a great idea for a product or service that you can offer. Thirdly, you need to be passionate about your idea and be able to sell it to others. Lastly, you need to be organized and have a clear plan for how you are going to turn your idea into a reality. If you can keep all of these things in mind, then you will be well on your way to becoming a successful student entrepreneur. We have seen some IE students recognized as great entrepreneurs, whether in a bachelor’s or master’s program.
All things considered, starting a business while still in university can be an incredibly rewarding and fulfilling experience. In it, students develop invaluable skills and crucial network connections that may come in handy in the future. Moreover, by properly planning the venture, utilizing resources to the fullest extent possible, and surrounding themselves with other motivated individuals, students can launch successful startups in today’s ever-evolving landscape of technology and innovation. So, if you have a project idea, do not be reluctant to use the resources of IE and these tips to start. Remember, with passion and commitment, your student’s IE startup has every chance of success!
