During the summer semester 2017 Bachelor students of Frankfurt School of Finance & Management could participate in the new course “Entrepreneurship Project” to foster their entrepreneurial spirit. Professor Dr Florian Ellsaesser, Dr Werner Jackstädt Assistant Professor of International Entrepreneurship at Frankfurt School, who has already founded several enterprises, supervises the project.
Students, who are in the second semester of the Bachelor of Science in Business Administration at Frankfurt School, come up with a business model based on the Lean Startup Methodology within the six week course. The goal is not a complex business plan but an idea which is cost-efficient and easy to generate in practice. Hence, the students developed a prototype and tried to sell it to potential customers. The teams, consisting of four to five students, learned what the market needs and which ideas can actually be implemented. As investment capital each team received 100 euros from Frankfurt School.
Before the students started with their own projects, Professor Dr Florian Ellsaesser explained the most important methods for the systematic implementation and testing of business ideas. He is pleased about the students’ huge motivation: “The students’ spirit was impressive. Every single team was capable of transforming an idea into a new product within six weeks and to sell it.”
During the process the versed founders Carsten Lebtig (Test.io, Sanubi) and Florens Knorr (Acao, Pando Ventures) helped the students. They shared their own experiences of developing successful business ideas. Also, the entrepreneurs supported the students in giving in-depth feedback.
One of the students’ business ideas is Callnect. The Start-up connects employees in customer services and sales with potential employers. A specially developed algorithm connects the right candidates with appropriate companies. This ensures that employees are satisfied while working and remain with their companies. Team member and Bachelor student Anh Nhat Ngo is enthusiastic about the new seminar: "Out of the whole curriculum the ‘Entrepreneurship Project’ stands out to me as one of the most hands-on courses which has the learning-by-doing philosophy at its core. The interaction in this course is not limited to the professor and students, but rather we are encouraged to regularly exchange ideas with visiting entrepreneurs, potential customers and our peers. As a result, we learn how to be open and reactive to feedback and advice from everyone, in order to constantly improve ourselves and our startup."
Bachelor student Hendrik Becker developed the project Unicorn Educational Services together with his fellow students. Through individual mentoring and subject-related preparation, the service helps candidates of top universities to apply successfully. Hendrik Becker is also convinced about the immediate learning success: “The ‘Entrepreneurship Project’ showed us how it is to start your own business. Everybody involved has experienced the ups and downs of an entrepreneur. However, all participants could continuously make progress because of Professor Ellsaessers’ coaching.”