Entrepreneurship School Sunrise Valley Entrepreneurship School ADVENTURE 2013

PROJECT AIM Project goal – to foster creation of new enterprises in Lithuania by enhancing and developing entrepreneurial mindset and skills of Lithuanian students and researchers. The project is carried out in cooperation with Imperial College London (ICL) Business School, which is known for the excellence in entrepreneurship training, methodology.

ICL methodology - AUTHORS Prof. Bart Clarysse Sabrina Kiefer

ICL experience and recognition Reputation: Imperial College Business School is acknowledged globally for its excellence in innovation and entrepreneurship. It is ranked 7th in the world* and 1st in Europe** for entrepreneurship. * Financial Times rankings 2012 ** Bloomberg Business Week 2012

APPLICATION ICL methodology | Imperial College London Vlerick Leuven Gent Management School Alcatel R&D units Research Institutes Other institutes and organisations

ICL methodology | Uniqueness (1) Team-based learning Cross-disciplinary teams Experiential learning, action learning, innovative learning, consistent learning, systematic learning Clearly structured, stage-based process Easy to use software, with templates and examples New venture coaches – entrepreneurs with solid & diverse new venture experience, probably the best in Lithuania, and with pedagogical mindset and skills.

ICL methodology | Uniqueness (2) Easy to use software, with templates and examples

Project participants (1) Students Coaches (for whole project) Companies and their mentors (at internships stage) Project team (responsible for planning and execution) Project coordinator Universities of Lithuania Experts from Imperial College London

Project participants (2) 120 students. 20 lecturers. Cross-disciplinary teams 12 coachers Experienced entrepreneurs and business practitioners instructed by ICL experts, to help for participants during all the project. 12 mentors Instructed delegates from companies helping for participants during the internship stage

Selection of students (2 stages) Almost 700 individuals expressed their will to participate in adVenture project Answers from questionnaire Interviewing 120 selected students and 20 lecturers, which formed 24 teams

Academic Project Coordinator AdVenture team (1) Academic Project Coordinator Modestas Gelbūda, PhD A total of 13 years of international experience. - London Business School. Stanford University, USA. Uppsala University, Sweden. Aalborg University, Denmark. Founder of 2 companies and 1 NGO. Advisor to start-ups.

AdVenture team (2) Andrius Solveiga Rūta Ada Brigita Monika

12 teams |12 new venture coaches

Project stages (2 cohorts) 1. Introductory Training - Introduction, Business Simulation Game, Case Study 2. Internships in Companies - Working in teams, Interactive workshop (after 6 weeks) 3. Preparation of Business Plans - Working in teams, Workshops with experts from ICL, Round table discussions World Café, Educational visit to Denmark 4. Business Plan Competition - Presentation of business plans to commission, Final event – forum.

Introductory training Introduction to project New venture simulation Case study manodrabuziai.lt

Internships in companies 60 hours daily work + 60 hours for homework

Business Plan Preparation(1) Presentations for ICL experts (all in all 5 workshops ) 1st ICL workshop in January (2013) 2nd ICL workshop in February (2013) 3rd ICL workshop in March (2013) 4th ICL workshop in April (2013) 5th ICL workshop in May (2013)

Business Plan Preparation(2) Round table discussions “World Cafe” 17 experts participated in World café in 2013 (13 in 2012). Each team had an unique opportunity to discuss their business idea with different experts and to get their feedback instantly.

Business Plan Preparation (3) Educational visits to Denmark: A member from each team was carefully selected and provided with an opportunity to visit innovative companies in Denmark. Companies visited: Danfoss & “Man on the Moon” Syddanske Forskerparker Als Logistics Boat Engine Security (students firm) Lean Energy Cluster Banke Accessory Drives Trygsan nabahjælp (students firm) 19

Business Plan Competion Competition 10 experts’ - business angels, investors, senior executives - decision

Results Achieved: - 140 project participants finished the training (120 students & 20 lecturers). 24 business plans were developed and submitted. 2 ventures already launched. Indirect achievements: Project participants still are working on their business ideas, 5 of them already asked for additional advices from the Sunrise Valley. 7 students were employed during the period of practical trainings. VGTU students got “ECTS” (57 students). 21 21

For more information: www.ssvm.lt www.sunrisevalley.lt Project coordinator| Sunrise Valley