SERN Empowered Startups with Comprehensive Business Model Pilot Actions

• September 28, 2023

As part of the RAISE project’s goals, SERN dedicated its efforts to bolstering startups in refining their business models through a series of targeted pilot actions. These initiatives engaged startup representatives, a diverse array of entrepreneurs, and organizations devoted to supporting entrepreneurship, facilitating meaningful connections between startup founders and mentors.

SERN provided insightful advice and support in developing comprehensive “role-model” business plans, leveraging information gathered at the idea stage. The analysis focused on applications, production and industrialization, target markets, competitors, price definition, financial needs, impact measurement, and time to market.

Successful Coaching Session for Startup Founders

In a significant step towards fostering startup growth across Europe, SERN recently hosted an informative coaching session tailored for startup founders and representatives. Held in September in Brussels, this event aimed to develop a sustainable, integrated support framework to enhance startup growth and scale-up across all dimensions, from initial funding and research support to public incentives and internationalization.

The full-day coaching session was divided into two distinct parts, ensuring a comprehensive learning experience for all attendees.

Expert-Led Overview

External experts delivered a thorough overview of business model actions and business partnership actions. They addressed specific challenges identified by participants through a pre-session form, enabling a tailored coaching experience.

Interactive Learning

Participants were split into two groups, attending individualized coaching sessions with an expert for each topic. Interactive activities, such as role-plays and case studies, allowed participants to apply the concepts learned in the morning session. After approximately 1.5 hours, the groups rotated to attend the session with the other expert, ensuring a comprehensive understanding of both business model actions and business partnership actions.

A series of events has been organized, including:

1. Startup Coaching Session on Business ModelsThis session featured theoretical introductions, defining product targets, value proposition theses, a Proposition Canvas, practical exercises, and interactive activities. Participants identified issues related to their business models and received mentor feedback for improvement.
2. Informative Session with EIC AcceleratorHeld during the European Week of Regions and Cities in Brussels, this session provided information on the EIC Accelerator, which supports startups and SMEs in scaling high-impact innovations. The session included a simulation of a European funding competition where participants pitched their ideas to a jury of funding experts.
3. Online Brokerage EventIn collaboration with another EU project, this event connected startups with potential investors and partners, enhancing their business networks and opportunities.

Development of Business Models: Equipping Startups with the Tools for Successful Market Entry and Growth

By actively engaging in these events, participants identified promising funding opportunities and honed their pitching skills. The European funding competition simulation, in particular, helped startups refine their presentation abilities. The coaching session concluded with a networking event, fostering potential collaborations and knowledge-sharing among participants. Additionally, participants were offered follow-up coaching sessions for further support.

Through these comprehensive pilot actions, SERN has significantly contributed to the development of business models, equipping startups with the tools and insights necessary for successful market entry and growth. This event marks a significant milestone in the RAISE project’s ongoing efforts to support and scale up startups across Europe.