To your own startup in just three days? Even though this schedule is really ambitious, the "3 Day Startup - The WHU Founders Bootcamp" of WHU - Otto Beisheim School of Management has at least already laid the most important foundations. During the intensive days between working groups, pitches and idea development, the groups came several steps closer to their own company foundation. They had already developed the approaches for this in advance.
"Most things that can go wrong happen at the earliest stage," explained Lars Gründer, General Manager of the "3 Day Startup - The WHU Founders Bootcamp". He had already helped with the event last year and this time he and his fellow students took the lead in organizing it. In order to clear up misconceptions or classic mistakes from the very beginning, each startup group was assigned a mentor. As members of the Chair of Entrepreneurship or founders themselves, they brought the necessary experience and background knowledge to help the participants with a kick start for their own company. The necessary information on basic legal issues and the financing of their own company was provided on the last day.
Professor Christoph Hienerth from the Chair of Entrepreneurship encouraged the participants from the very beginning to set high goals so that resilient results could be achieved within three days. Everything steered towards the pitches at the end, where the own idea must have already taken on very precise forms. The founding teams compete against each other and the best concept is chosen as the winner. Be it a bracelet to prevent sudden infant death or a healthy and inexpensive snack that is available around the clock in fitness studios. WHU's strong founding spirit provides a good breeding ground for unique ideas that may soon be on the market. In the past, graduates have regularly founded successful start-ups, including flagships such as "Rocket Internet" or "Kitchen Stories". They receive the right support from the Chair of Entrepreneurship and the associated incubator.
At the "3 Day Startup - The WHU Founders Bootcamp", there were investors at the WHU campus, with whom the students could talk directly. Initially, it was less important to have a fully developed business model than to have a well-developed idea and to ensure that the teams consisting of two to four members work together harmoniously.