EURADA coaching sessions and pilot actions for startups to enhance their business models and partnerships￼EURADA coaching sessions and pilot actions for startups to enhance their business models and partnerships￼ https://theraise.eu/wp-content/uploads/2024/01/lorenzofinal-1024x576.png 1024 576 RAISE fosters startup growth and scale-up within and across Europe RAISE fosters startup growth and scale-up within and across Europe https://theraise.eu/wp-content/uploads/2024/01/lorenzofinal-1024x576.png
With a successful rate of 1 out of 10, start-ups in Europe usually face several challenges in consolidating themselves and entering the market. For this reason, the RAISE project financed a series of coaching sessions tackling 5 main pivotal topics for their development.
A key component of the RAISE project is a series of coaching sessions and pilot actions aimed at providing valuable insights and practical solutions for startups to enhance their business models and partnerships. These coaching sessions were tailored to startup founders and representatives seeking to elevate their understanding of business partnership actions.
This innovative framework focuses on implementing pilot actions, including training, mentoring, and networking sessions. These initiatives are designed to connect startup promoters with appropriate mentors and trainers, facilitating access to their target markets.
The Region Alliance for Interconnected Startup Ecosystems – RAISE – project aims to develop a new and sustainable integrated support framework to foster startup growth and scale-up across Europe. RAISE will address this by developing a long-term collaboration and action plan for the establishment of a virtual interconnected space. It targets companies that have already achieved first results, possibly supported by regional programmes and are now aiming to grow.
In this framework, one of the crucial actions foreseen by the projects was the creation of training, mentoring, and networking sessions, which could help startup promoters get in contact with the appropriate mentors and trainers who can help them gain access to their target markets. All project partners were required to contribute to the success of this task, by tackling topics such as Business Model Actions, Venture Capital actions, Talent Matching and Women Entrepreneurship.
The action was designed to facilitate and enable startup promoters and their respective projects to proceed to the market, by focusing on sales channels expansions, technology partners and other business partnerships.
Defined as the legal relationship that is most often formed by a written agreement between two or more individuals or companies, a Business Partnership is often not so easy to get, and to be achieved, several aspects must be considered. With the help of one of EURADA’s historical members, META Group, a leader in mentoring companies from ideas to market by coaching researchers, and entrepreneurs, investing in promising opportunities and advising public and private organisations on innovation strategies, we set up a two-month academy. Aiming at providing personalised training and interactive learning, this coaching session revolved around a total of four online workshops of 90 minutes each, dealing with crucial aspects. The structure of each workshop has been a sum of a theoretical session and a practical one, giving in this way the opportunity for participants to gather tailored tips related to their business directly from the coach.
From October to December of the previous year, a transformative series of coaching sessions unfolded, comprising four online workshops, each lasting 90 minutes. The structured format of each workshop included a theoretical session followed by a practical one. The schedule for these enlightening sessions unfolded as follows:
October 18 – Workshop 1: The Lean Canvas
Addressing a common pitfall that often befalls startups – failing to meet market needs – the first workshop on October 18 was dedicated to introducing the Lean Canvas as a strategic planning tool. This session aimed to equip early-stage startups with the necessary tools to avoid the pitfalls associated with developing products or services without a genuine market demand. The Lean Canvas workshop at first taught us that one of the grounds for failures for early-stage startups is that usually there is no market need towards the products/services they are developing. Thus, to avoid falling into this statistic, it is important for early-stage startups to explore the Lean Canvas as a strategic planning tool. The first goal in adopting the Lean Canvas is to reach the problem-solution fit, which happens when a startup is developing a solution for a specific need for the customers.
November 6 – Workshop 2: The Unique Value Propositions Canvas
Continuing the journey on November 6, Workshop 2 was centred around achieving the problem-solution fit using the Lean Canvas. The emphasis was placed on the Unique Value Proposition (UVP) as a strategic tool crucial to the success of startups. Attendees delved into the intricacies of crafting solutions tailored to specific customer needs. The Unique Value Propositions (UVP) Canva workshop thus emphasised that to reach this goal, startups need to use the UVP as a strategic tool when undertaking the marker analysis. Needless to say, high-growth, early-stage startups need money to scale and boost their activities. It is then important that founders and CEOs understand the different kinds of investors operating in their market are, and which is the best way to approach them.
November 21 – Workshop 3: Approaching Risk Capital Investors
Navigating the complex landscape of funding, Workshop 3 on November 21 provided invaluable guidance to high-growth startups. Founders were led through an exploration of the various types of investors in the market and were equipped with the best approaches to secure funding. This workshop served as a crucial step for startups aiming to scale their activities. The Approaching Risk Capital Investors workshop highlighted some tips and techniques to put into practice in order to succeed in this. The first approach to investors is the key to increasing the odds of getting the funds.
December 5 – Workshop 4: How to Master Your Pitch
The series concluded on December 5 with Workshop 4, which honed in on the art of pitching. Recognizing the pivotal role of the initial pitch in securing investor interest and funding, this session provided essential insights into crafting impactful presentations. Startups were guided on how to articulate their vision and value proposition effectively, increasing their odds of securing vital financial support. Thus, as stressed during the last workshop How to master your pitch, preparing a great pitch about their mission and value added is crucial for start-ups to move the first steps.
These coaching sessions, curated to enhance the understanding of business partnerships and foster the growth of startups, brought together a diverse group of entrepreneurs eager to refine their skills and strategies. The structured approach of theoretical and practical sessions aimed to empower startups on their journey toward success and sustainability. It becomes clear that, in order to build a European start-up ecosystem, it is crucial for entrepreneurs to be experienced practitioners, having first-hand knowledge of the creation, management and advising of business ventures. EURADA is glad to have contributed to this mission and to share the success of its academy, which caught the attention of 31 people registered from all over Europe.
ABOUT THE SPEAKER
Leading these coaching sessions is Lorenzo Valeriani, a Senior Project Manager and startups coach at META Group. With over 25 years of experience, META Group has played a crucial role in driving knowledge from idea to market. Lorenzo Valeriani brings a wealth of expertise, having been involved in coaching researchers, entrepreneurs, and investing in promising opportunities.
META Group: A Catalyst for Innovation
META Group, built by entrepreneurs for entrepreneurs, operates across three key areas:
- Investing in high-growth startups across Europe.
- Nurturing and guiding young people, entrepreneurs, and scientists in transforming ideas into high-growth startups.
- Providing policy advice on stimulating innovation and startups to a diverse range of clients, including individual cities and the European Commission.
With a unique edge in all stages of the entrepreneurial life cycle, META Group stands as a driving force in fostering innovation, supporting startups, and shaping policies at local, national, and international levels. This integrated support framework is poised to significantly impact the startup landscape in Europe, providing the necessary tools for success and growth.
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