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FET2RIN

FET2RIN workshops help FET Projects check and prepare the launch of innovative solutions onto the market, with the Lean Startup approach

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WHAT IS INVESTMENT READINESS?


Investment readiness is generally used in the context of raising external finance. Getting investment ready implies the opportunity to transform FET R&D into usable results.
Understanding how to pitch to investors is key to increase chances to bring disruptive ideas to the market.

WHAT IS THE LEAN STARTUP?


The Lean Startup provides a scientific approach to creating and running new ventures and launch a desired product to customers' hands faster. Lean Startup approach, within FET2RIN, teaches FET researchers how to drive impact, how to steer, when to turn, and when to persevere. It is a principled approach to new product development.

WHAT IS AN MVP?


Creating a Minimum Viable Product (MVP) is a strategy for avoiding the development of products that customers do not want and users do not appreciate. The idea is to rapidly build a minimum set of features that are enough to launch the product onto the market and test key assumptions about clients’ interactions with the product. 

 THE TRAINING​​


FET2RIN’s main goal is helping researchers to learn how to rapidly develop and test novel solutions by gathering feedbacks. Many projects fail to generate impact, as startups fail to succeed on the market, by not validating their ideas early on, with real-life customers. To mitigate that, researchers attending FET2RIN workshops will learn how to apply the lean start-up approach, getting “out of the lab”, search for unmet needs and validate their impact related assumptions. Lean Startup is a new, field-tested philosophy that, within FET2RIN, provides researchers with a toolset to increase chances of generating impact for their projects.
 
Our coaches will guide FET teams through assumption identification, customer interviews, rapid experimentation, and new exploitation opportunities. FET2RIN training pushes teams outside their “comfort zone” and changes the way they look at research results in the view of use and impact.
 
Validation > Idea development and testing outside the lab
• Getting customer feedback with fast-made prototypes of an idea
• Testing Business Models and validate the results
• Pivot

 
The Lean methodology has proven records of considerably reducing the incidence of failure, while increasing the chances of successful commercialisation of innovative ideas. Through these courses researchers will:
 • Access a unique opportunity to validate impact assumptions as well as exploitation prospects in real market conditions; 
• Benefit from the knowledge gained from to peer interaction and access to expert coaches;
• Learn realistic, common-sense validation principles and acquire hands-on experience in product and customer development within a real business environment;
• Enjoy the opportunity to interact with experienced and competent mentors and advisors from industry, meet with investors and enter their networks.

 
Workshops will follow the flipped classroom approach: video materials will be provided on-line before the coaching, and time in Brussels will be mainly devoted to team-work, discussion, debates and review. 
 
flipped-classroom-tagliato

The FET2RIN training is based on 3 workshops in Brussels, at the EBN premises. Participants will work from “home” in between the workshops. Training is free of charge. Travel, accommodation and subsistence costs can be reported as project cost for running FET projects.

1st Workshop 

3rd Workshop

2nd Workshop

DAY 1

Ice-breaking session

•  Introduction of participants and mentors

Principles of Lean Startup methodology

•  Customer vs. Product Development

•  How to capture your vision on a single page

•  Finding a compelling problem that is worth solving

Value Proposition

•  Value Proposition and the Minimum Viable Product

•  Common Mistakes with Value Proposition

Team work

•  The Javelin Board

•  Discussion among participants and debate with mentors


DAY 2

Customer Segments

•  Solution - Market / Target groups Fit

•  Multiple Customer / Target groups Segments

• Consequences of Not Understanding a Target group

Team work

• Lean Canvas

•Discussion among participants and debate with mentors

Revenue Models

• How Do You Impact / Make Money

• Revenue Streams and Price

• Market Size and Share

DAY 1

Team work

• Revise the Lean Canvas

• Discussion among participants and debate with mentors

Review of Lean Canvas

• Value Proposition

• Customer Segments

• Revenue Streams

• Customer Development Processes

• Minimum Viable Product

• Market Opportunity Analysis

• Refining your vision into a bullet proof exploitation/business model

Building products that meets “customers” needs

• The easiest and fastest ways to build minimum viable products 

• Tactics for experimenting with MVPs on real customers

• Creating Experiments to Test Hypotheses

• Lean User Experience

• The “Art” of the Pivot


DAY 2

Crowdfunding for Research and Innovation

• Alternative finance for financing research

• Case study and successful examples

• Team work (Look for the best crowdfunding model that meets your needs)

• Discussion among peers and debate with mentors

Resources, Activities and Costs

• Intellectual Property Overview

• What is patentable, what is not, how to protect your R&D results

DAY 1

How to design a successful Crowdfunding Campaign for validating R&D results

• Tip and tricks

• Team work (Design your crowdfunding campaign)

• Discussion among peers and debate with mentors

What matters most to investors when dealing with researchers

• What makes a presentation appealing and how to explain the exploitation opportunity behind your results?

• How to pitch your research results and exploitation plan

• How to effectively communicate an exploitation model to internal and external stakeholders.

• Team work (Revise your pitch deck)

• Discussion among peers and debate with mentors


DAY 2

Pitch day

• Pitching your exploitation plan to investors  and crowdfunding platforms



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This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 687110


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