Applied Entrepreneurship Methodology

Our programme has been designed following the best practices of the top incubators and accelerators around the world, but also addresses some of the limitations that students will be facing when starting their own company. Student entrepreneurship often requires a more practical approach, combining applied knowledge and experience, therefore we are confident that our programme is a valuable resource to students who have either been involved in business courses during their studies, or who just have the drive and passion to start executing their ideas.

Stage 1: Proof of Idea

Getting started can be hard and we want to give student entrepreneurs the right tools to do it, while focusing on problems worth solving. We are here to help you start forming a team and improve your idea by exploring different potential solutions. Workshops and activities will ensure that you iterate your business model, start pitching your idea and start working on your minimum viable product. The goal of this stage is to find out what is the right problem to solve, and work on building a prototype solution to advance to the next phase of development.

Requirements: To participate you must be an active ITU student who is not delayed in his education, or a recent alumni (graduated less than 1 year ago).

We can provide you with:

  • Free incubator programme that lasts 3 months
  • Business development workshops
  • Legal workshops
  • Finance/Accounting workshops
  • Free accounting platform for one year
  • Personal business developer (two monthly meetings)
  • Access to specialised mentors from the IT University
  • Support to write applications for early funding

Stage 2: Proof of Concept

In the proof of concept stage you will further improve your solution to turn your startup into a feasible business. With our help you can focus on business development, meeting the right mentors from both the industry and from ITU, hands-on help with intellectual property rights, legal counseling and much more depending on your needs. Your startup will be granted an expense account that may be used to pay for equipment, services or advice needed to mature the business idea, including office space at ITU so you can focus on what is most important, your startup.

Requirements:To be eligible, the team with at least 50% ITU founders must have participated in the Proof of Idea stage, or have participated in other similar entrepreneurship programmes with an existing prototype (ex. Venture Cup). Please submit your business documentation and prepare relevant performance data.

In exchange for 5% shares in the company* you get:

  • Acceleration programme for 6 months incl. facilities
  • Expense account up to 20 000kr for R&D costs and prototyping
  • Personal business developer (two monthly meetings)
  • Access to specialised mentors from industry & ITU researchers
  • Support to establish an advisory board with specialists relevant to your business
  • One-on-one legal counselling sessions
  • Financial management & accounting counselling sessions
  • Free accounting platform for one year

*The agreement includes a buy-back option which enables the entrepreneur or early investors to buy back to shares from ITU Business Development at the end of the programme at a fixed rate.

Stage 3: Proof of Business

After creating a solid solution or product with your startup it is time to scale-up your company and get the support you need to continue building your team, acquiring more clients and growing your market position. In this stage we help you leave the university nest, and join the entrepreneurial ecosystem at large.

Requirements: To be eligible for this phase the startup must aim to develop intellectual property, proprietary software or inventions that can be protected by a patent or as a utility model.

At this stage we can offer:

  • Pre-seed/Seed Investment
  • Personal business developer (two monthly meetings)
  • Access to further seed and venture capital funding
  • Access to specialised mentors from the IT University
  • Support to establish an advisory board with specialists relevant to your business

How should I apply?

Applications for a new batch of startups are now open! Fill the form and inform us more regarding the problem you are aiming to solve, together with more details regarding your initial solution, the plan and the current team. The deadline for submitting applications is 18th of September.

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