Venture Lab The Venture Lab is IE's startup accelerator, which is designed for students and alumni to explore market opportunities, incubate ideas and accelerate business.
Venture Lab Accelerator
The Venture Lab Accelerator serves to train and mentor teams to explore, validate and develop ready-to-launch startup ventures.
The aim of the Venture Lab Accelerator is aid teams in creating ready-to-launch startup projects. It gives teams hands-on experience in the world of high impact entrepreneurship. This means that their ideas have been thoroughly developed to the point where there is validation data (metrics) that shows customer interest, user engagement, and revenue potential from future clients.
IE’s Venture Lab Accelerator is a program that is open to all IE students and alumni. It is also an elective within the International MBA program. The ultimate aim is to complete the program with a short list of fully engaged users of your product/service. The entire focus of the Venture Lab Accelerator is market validation and obtaining enough data to be ready to move from Pre-Launch activities to Launch.
Success in entrepreneurship lies not only in the value of the idea but even more so in the execution of that idea. A successful Venture Lab Accelerator experience is not necessarily the launch of a company but one in which each team completes the program at best with a business idea developed sufficiently to be prepared to launch and at a minimum with an understanding of what is truly required to launch a startup.
You can expect your original idea to morph, change, and evolve over the duration of the program – which is also a key aspect of the entrepreneurial process. Validating a market opportunity is about trying to get the right product-market fit, offering a solution that people not only want but for which they are willing to pay.
Ultimately, the goal of the Venture Lab is to prove that your idea is more than an idea and that through Manual Simulation, short of charging customers for the product or service, you can show that the idea has real traction.
- Teams must consist of at least 2 team members and no more than 4 team members;
- Teams must include at least one current IE student or alumnus/a. The IE team member must be physically present in Madrid and play an active, key role in the team;
- Individuals can only participate in one Venture Lab application, i.e. individuals can neither submit more than one startup-idea application (as team leader), nor can they be team members on more than one Venture Lab application.
The 3 main selection criteria are:
- INNOVATION – We seek applications from dynamic teams who put forth innovative (novel, extraordinary, revolutionary) ideas, solutions and business models; preferably those that incorporate emerging technologies into their solutions (products/services) and/or business models.
- SCALABILITY – We seek applications from innovative teams, whose ideas or solutions target hyper-growth markets and are potentially attractive for angel investors and venture capitalists.
- TEAM – We seek applications from innovative teams who are passionate about solving the problem they’ve identified and absolutely committed to executing a prototype of their scalable solution during Venture Lab. We seek those teams who are eager to complete Venture Lab and graduate so they can launch as soon as 90-days after completing the program.
The Venture Lab consists of specialized coaching from an assigned Industry Coach (a domain expert), mentoring from an assigned Entrepreneur-in-Residence (a seasoned startup, oftentimes serial, entrepreneur), pitch practices, mentoring from Venture Lab directors and mentoring from Investors-in-Residence (experienced angel investors or VCs), and specialized, task specific clinics.
The value of the Venture Lab Accelerator is in providing a unique and practical experience to students that will prepare them to design and execute plans to develop ready-to-launch startups.
How to Apply and Important Dates
Acceptance into IE's Venture Lab Accelerator is highly selective. We're looking for the most committed and diverse teams, as well as the most innovative ideas and business models.
Our next Venture Lab Accelerator begins in mid-April and culminates on July 12th, 2018 at Venture Day Madrid, IE’s demo day where we will showcase the top startups created by IE students and alumni.
As we are seeking the most committed teams that include diverse profiles, we have created an online platform we encourage all interested students and alumni to use to share their profiles and upload any and all ideas they are toying with and might like to explore in Venture Lab. To register on this online platform, you must use your ie student or alumni email account.
To access the Venture Lab online ecosystem: Go here
March 5th, 2018 – 7pm in Area31: Team Formation Workshop
March 5th, 2018 – Application period begin. (A link will be posted here soon to the application)
April 4th, 2018 – Application Deadline for Venture Lab
Venture Lab Accelerator Program Dates:
April 23, 2018 – June 2018: Program-in-session
June 25th– 29th, 2018: Venture Day Semi-Finals Week
June 29th, 2018: Deadline to turn in Deliverables for IMBA elective
July 12th, 2018: Venture Day
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