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VGTU “Design Thinking for Start-ups” and “Start-up Lithuania” (Enterprise Lithuania)
2017-11-29
VGTU “Design Thinking for Start-ups” and “Start-up Lithuania” (Enterprise Lithuania)
At November 27th students from Department of Business Technologies and Entrepreneurship had a great possibility of open lecture of Roberta Rudokienė, „Head of Startup Lithuania“ („Enterprise Lithuania“) and Gytis Morkūnas, Head of Entrepreneurship Department, („Enterprise Lithuania“) who gave a lecture „Start-up ecosystem and starting a business in Lithuania“. Lidija Kraujalienė, lecturer at the Department of Business Technologies and Entrepreneurship, was a moderator of this lecture.
Students and other participants of the subject "Design Thinking of Start-ups" (in lt. „Startuolių kūrimas“) have just become familiarized with the Lithuanian Start-up ecosystem, main parties and stakeholders such as business angels, venture capital funds, science and technology parks, investors, start-ups incubators, innovation centers, agencies, delivers of specific consultations like legal aspects, market development, and network of mentors, etc. Versli Lietuva plays an important connecting point between start-ups and its stakeholders, helps to find suitable specialists for consultations, and brings together business, investors, helps to find financing. The best start-ups have the opportunity to get financial support from "Start-up Lithuania" which organize travels to the biggest fairs, conferences and events around the world. Lithuanian youth are also happy to participate in the "Hacker Games" organized by the Enterprise Lithuania, where in three days the youth, teamed up, find an idea, create the prototype and present it for the business representatives. This experience is invaluable and very interesting when you may test yourself to work in the team and actually try to create a prototype of a product or service during short time. The start-ups also participate in such big event in Lithuania as the "Start-up Fair", which involves not only developed start-ups, but also successful start-ups beginners.
The most important thing in creating the start-up in not the best idea, but a good, strong and motivated team that implements a business idea. The reality is that there are a lot of ideas in the world, but there is a lack of "hands” and dash to start execute the business idea. It is important to note for yourself that there are inherent failures (and not one) for start-ups, and only learning from mistakes and garnering experience, you can achieve true business success.
Students had the opportunity to participate in Pitch session, during which the team representative should briefly present the idea to the investor by touching on: the idea, exclusivity, innovativeness, market, competitors, returns, etc. This pitch presentation must be made in interesting way (saying through the story), being energetic and persuasive, because investors should see creativity and ignition of the team what important to realize its idea.
Roberta Rudokienė have provided the definition of the start-up, because till now this definition has not been legalized in the Lithuanian legal documents. Start-up Lithuania suggests the following distinctions for a start-up company: company up to 5 years in the market, innovation, scalability. Gytis Morkūnas has started and developed a number of companies throughout his 10 year career in business working in sales, project management, strategic planning, etc. The Director of Entrepreneurship Department introduced students to the general situation in the business market in Lithuania, and shared about the most suitable business form for start-up company. He highlighted that investors are proposing the creation of UAB, since it is much easier for the start-up to get the investments from investors.
Roberta has an experience of more than 10 years in management positions, working at such Lithuanian companies as „Siemens Arena“, „Vilniaus Baldai“, the former „Lietuvos Telekomas“ (currently – „Telia“). Her experience covers such areas as strategic planning, marketing, sales, project management, team leadership and staff development.
The programme of "Design Thinking for Start-ups" subject is based mostly on the large part of the study through the practice, which is interesting for students and very practical. Such lectures, as this one with Enterprise Lithuania, are regular elements of the "Start-up Development" course, which delights and gives more colors for the study process. On the other hand, business world representatives have the honor to share their practices and knowledge with young people.
Students and other participants of the subject "Design Thinking of Start-ups" (in lt. „Startuolių kūrimas“) have just become familiarized with the Lithuanian Start-up ecosystem, main parties and stakeholders such as business angels, venture capital funds, science and technology parks, investors, start-ups incubators, innovation centers, agencies, delivers of specific consultations like legal aspects, market development, and network of mentors, etc. Versli Lietuva plays an important connecting point between start-ups and its stakeholders, helps to find suitable specialists for consultations, and brings together business, investors, helps to find financing. The best start-ups have the opportunity to get financial support from "Start-up Lithuania" which organize travels to the biggest fairs, conferences and events around the world. Lithuanian youth are also happy to participate in the "Hacker Games" organized by the Enterprise Lithuania, where in three days the youth, teamed up, find an idea, create the prototype and present it for the business representatives. This experience is invaluable and very interesting when you may test yourself to work in the team and actually try to create a prototype of a product or service during short time. The start-ups also participate in such big event in Lithuania as the "Start-up Fair", which involves not only developed start-ups, but also successful start-ups beginners.
The most important thing in creating the start-up in not the best idea, but a good, strong and motivated team that implements a business idea. The reality is that there are a lot of ideas in the world, but there is a lack of "hands” and dash to start execute the business idea. It is important to note for yourself that there are inherent failures (and not one) for start-ups, and only learning from mistakes and garnering experience, you can achieve true business success.
Students had the opportunity to participate in Pitch session, during which the team representative should briefly present the idea to the investor by touching on: the idea, exclusivity, innovativeness, market, competitors, returns, etc. This pitch presentation must be made in interesting way (saying through the story), being energetic and persuasive, because investors should see creativity and ignition of the team what important to realize its idea.
Roberta Rudokienė have provided the definition of the start-up, because till now this definition has not been legalized in the Lithuanian legal documents. Start-up Lithuania suggests the following distinctions for a start-up company: company up to 5 years in the market, innovation, scalability. Gytis Morkūnas has started and developed a number of companies throughout his 10 year career in business working in sales, project management, strategic planning, etc. The Director of Entrepreneurship Department introduced students to the general situation in the business market in Lithuania, and shared about the most suitable business form for start-up company. He highlighted that investors are proposing the creation of UAB, since it is much easier for the start-up to get the investments from investors.
Roberta has an experience of more than 10 years in management positions, working at such Lithuanian companies as „Siemens Arena“, „Vilniaus Baldai“, the former „Lietuvos Telekomas“ (currently – „Telia“). Her experience covers such areas as strategic planning, marketing, sales, project management, team leadership and staff development.
The programme of "Design Thinking for Start-ups" subject is based mostly on the large part of the study through the practice, which is interesting for students and very practical. Such lectures, as this one with Enterprise Lithuania, are regular elements of the "Start-up Development" course, which delights and gives more colors for the study process. On the other hand, business world representatives have the honor to share their practices and knowledge with young people.
