For the last 9 years, the EADA Entrepreneurship Centre has collaborated with ACCIÓ through the EADA – ACCIO MAP (Market Assessment Program). ACCIÓ is a government-sponsored agency in charge of the region’s competitiveness in several focus fields: attracting foreign investment, innovation and technology promotion, cluster development and entrepreneurial activities. To help develop technology and innovation in the region’s industry, ACCIÓ and EADA launched the MAP Program with the mission to bring to market technology-based companies (TBC) that are in their initial stages of development. These companies operate across industries including Artificial Intelligence, biotechnology, smart cities, Industry 4.0, big data, ICT and digital transformation.
Through EADA – ACCIO MAP, MiM students were able to work with Awaait, a company providing real-time industrial solutions using Artificial Intelligence. The MiM group included five participants: Mariana Carasso (Mexico), Adrien Duchateau (Belgium), Valentina Facundo (Colombia), Andres Isava (Venezuela), Max Schneider (Germany), Theda von Jeinsen (Germany). “The collaboration with AWAAIT was a non-stop learning process for all members of the team,” the group confirmed. “At EADA, we often spoke about the advantages and challenges of cultural diversity, and both were on full display throughout the final project: our different professional and cultural backgrounds led us to create an interesting and efficient working environment.”
While they work together with EADA’s MiM students, the future entrepreneurs receive specific training through MAP to ensure that they have the skills and knowledge to successfully face the initial phases of their product’s launch. They work together with specialists to identify and build key strategic alliances with other stakeholders. The entrepreneurial teams complete the Program with a well-established methodology to analyse, negotiate and establish value partnerships.
An important part of MAP is the business expertise that EADA MiM students bring to the table. MiM participants contribute to the overall services offered to the entrepreneurs in 3 ways:
- Identifying a market opportunity and analysing the commercial potential of the developed technology
- Designing a roadmap for the development and launch of the product/service, and defining a go-to-market strategy
- Developing an initial Business Plan
MiM students who choose to work as a team of consultants for a new venture for their final project are put in contact with a team of MAP entrepreneurs, for whom they will elaborate a comprehensive business plan.
One group of MiM students collaborated with Smart Automotive Solutions to elaborate a three-phased corporate strategy for the product Drivvisor. Drivvisor is a technology that monitors and evaluates the state of a driver to offer warnings for risk factors such as fatigue, drowsiness or distractions. One group of MiM students collaborated with Smart Automotive Solutions to elaborate a three-phased corporate strategy for the product Drivvisor. Drivvisor is a technology that monitors and evaluates the state of a driver to offer warnings for risk factors such as fatigue, drowsiness or distractions.
The MiM group included Cyprien Durand (France), Tim-Niklas Heitplatz (Germany), Florian Linz (Germany), Thorsten Siefken (Germany) and Gerard Taboada (Spanish). “We have applied a vast amount of frameworks and concepts seen in class covering topics including marketing, strategy, HR and finance,” says the group. “Through the final project, we were able to gain experience in a thrilling industry facing major change and we turned theoretical concepts learnt in class in real actions. We now feel confident to face new challenges in our professional careers.”
This unique Program allows students to apply their newly acquired knowledge and skills in a real-world entrepreneurial venture. Each MiM group works together with the entrepreneurs and with a specialised EADA tutor, that acts as senior consultant, to ensure that they make the most of the experience. Throughout the process, groups receive training to successfully complete each phase of the project and they are evaluated by a panel of experts at a formal presentation at the end of the project.
Another MiM group worked with entrepreneurs to launch RheoDx, an inexpensive medical device that monitors blood cells conditions to improve the quality of life of hematology patients and the efficiency in their clinical management. This group included Lena Braun (Germany), Begum Dogru (Turkey), Roymer González (Venezuela), Altan Guner, Laudine Koopman (Netherlands) and Thijs Scholte (Netherlands).
“The case study methodology that we saw in class was a great attribute during our project,” confirms the group. “But the emotional attachment and the actual people behind the company was something new. This made us realise that while sometimes a solution can look very easy on paper, in reality the decision can be much tougher and less clear-cut.”