From June 11 to June 15, 2017, students of the Executive MBA of Frankfurt School of Finance & Management spent their International Week at the Interdisciplinary Center Herzliya (IDC) in Israel. The course is designed for students who wish to broaden and deepen their knowledge about entrepreneurship and the creative but focused process of setting up their own Start-up. Dr Markus Maedler, Programme Director Degree Programmes & Executive Education at Frankfurt School, accompanied the students during their five-day trip to Israel.
On the first day, visiting IDC Herzliya, the group received an introduction in the Zell Entrepreneurship Programme of the school – funded by entrepreneur Sam Zell. The programme is designed for outstanding undergraduates in their final year at IDC who aspire to work in an entrepreneurial organisation or to start their own business.
On that same day, the executive students started a Venture Creation Crash Course at IDC. Within five days Dr Yossi Maaravi, member of the Faculty at IDC, led the participants through the concepts and process of developing a business idea from scratch to a convincing investor pitch. The first day started with the challenge to come up with nine different ideas for an innovative Start-up venture by the next morning. During the second day the participants narrowed down the ideas and developed the business model canvas for their ideas within different teams. To improve the concepts, several validation and adjustment rounds followed, the participants researched many academic papers and contacted their professional networks. Through the whole process Dr Yossi Maaravi coached the students and also reached out to his personal network for feedback. Finally, the participants presented their ideas to the class and the senior faculty from the IDC.
In addition to their academic programme, the group visited the FinTech accelerator “The Floor” in the Tel Aviv Stock Exchange to gain insights in to an Israeli Start-up. Also, the students enjoyed some time off during a sunset sail boat tour and a visit to Jerusalem.
“The trip to Israel was a great opportunity to gain knowledge and enjoy the cultural richness of Israel. The course was very intense, but it helped to build entrepreneurial mind- and skillsets. Now we are able to turn a business idea into reality rather quickly”, says Boris Marovic, who is an EMBA student at Frankfurt School.