ICUBE Side Session 1: The Base – Business Initialization

Hamza Ali

When:
October 24, 2017 @ 12:00 pm – 2:00 pm America/Toronto Timezone
2017-10-24T12:00:00-04:00
2017-10-24T14:00:00-04:00
Where:
University of Toronto Mississauga (Innovation Complex)
3359 Mississauga Rd
Mississauga, ON L5L 1C6
Canada
Cost:
Free

Icube Side SessionBefore starting a business, you should clearly understand the landscape you are about to enter in; define what the problem is, who already exists in the sector (other companies) you are entering, and what your solution is (and how it is different). Join us October 24, 2017, for our side session on business initialization. With the help of our volunteer mentors Sue Elliott and Nick Kuryluk, we will tackle how to generate your primary statements, create value, and validate your beliefs.

Workshop breakdown:

A.) Defining the Problem
B.) Solutions in the Competitive Landscape
C.) Your Value Proposition
D.) Customer Validation

Main goal of the workshop: 

  • To assist in crafting your problem statement, as well as your proposed solution. By understanding what solution(s) your business seeks to produce, this section will help you build a strong foundation from which to build the follow sides upon. This workshop will also force you to review what other businesses in the market, and understand what your competition looks like.

What you’ll learn:

  • Generate a problem statement that identifies the issues your target consumers currently face
  • Identifying the competitive landscape of the market you are entering
  • Create a proposed solution that explains how to solve your problem, and what your target consumers will gain from your solution
  • Generate your value proposition
  • Create a process to conduct and measure qualitative assessments to validate your preliminary assumptions
  • Gain an understanding of what is necessary in your Minimum Viable Product (MVP), based on these assessments

 

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