As an entrepreneur- if you have a business idea- the validation of it, is a requirement. It is a fact that when we start thinking about a project our mind is full of hypotheses or concepts of how we believe the market works or how it will react to our product or service. Sometimes entrepreneurs believe that just by putting a business idea on a canvas or in a business plan, everything is done. But the reality is that only those who had been researched, tasted and worked hard are those who have the chance to develop a profitable business.
That’s why our first milestone is all about how well the startups have validated their business model. All the teams showed their enthusiasm and passion but we had a tough jury this year consisting of 9 skilled experts from different industries. In general the viability of the idea, scalability, quality of the lean canvas model, the consideration of alternative business approaches and the progress so far were judged. Each juror asked questions about their specific expertise and our startups could not answer superficially without being called out on their bluff. Therefore, for our startups the milestone 1 was not only a review of their progress but also a great learning lesson what to improve until milestone 2.
This time, IDUN HealtTech achieved first place and got awarded by a weekend sponsored by „Winzerei Zur Metzg“ as a partner of SSUF. But it was not only the innovative product and its design that made them win the first round, but also their excellent team work and performance in front of the jury.
Now success will depend on your work and put all the creativity on your project… “play fair, set your market, define your value proposition and feel free to be unique and use different formats of how to optimize your first results”.
Weekend pictures with IDUN HealthTech and Winzerei Zur Metzg