How the Venturelab Challenge workshops help students and scientists start their own companies
Over the last six weeks, more than 60 students, PhDs, postdocs, and graduates participated in the Venture Challenge at ETH, supported by ETH Zurich organizations. In six online workshops, future entrepreneurs were introduced to the skills, tools, and know-how that help turn their tech startup idea into businesses.
The Venture Challenge series, hosted at ETH Zurich and EPF Lausanne, lays the foundation for building world-class startups. The Venture Challenge workshops empower students at Swiss-based universities, universities of applied sciences, PhDs, and postdocs to turn their plans into businesses. Inspiring, shaping ideas, and expanding participants’ networks while providing future entrepreneurs with tools and skills to take the next step on their journey are the goals of the program.“We continue to see record numbers of spin-offs coming out of Switzerland’s universities, so our collaboration with ETH Zurich and EPF Lausanne has become a critical element of the successful Swiss startup ecosystem. By supporting future entrepreneurs and advancing knowledge transfer, the Venture Challenge provides hands-on support and expertise that allow students to go from university labs to investor meetings,” said Raffael Kellner, Venturelab program manager.
The Venture Challenge workshops cover the essential topics for science entrepreneurs to build successful startups. Each session features external industry experts, mentors, and supporters who share their know-how, stories, and experiences with the participants.
Venture Challenge #1: The story of your startup
Fabienne Hartmann-Fritsch is the co-founder and CCO of CUTISS, a biotech startup that bioengineers large quantities of individually customized human skin grafts. Fabienne explained how to best start a company, discussed failures and best practices, and shared the story of her entrepreneurial journey.
"We have two versions of pitch deck. One confidential, one non-confidential. You always want to have that ready so that you can talk to everybody."
— Venturelab (@venturelab_ch) March 16, 2021
Fabienne Hartmann-Fritsch, CCO of @AGCutiss, shares her founders lessons at #VentureChallenge:https://t.co/QCTWZeZKsC pic.twitter.com/wYhZRk7mUL
Venture Challenge #2: What it takes to build a dream team
Sandra Tobler is the co-founder and CEO of Futurae Technologies, which offers companies an AI-based, user-centric authentication suite that complies with the strictest regulatory and security guidelines. Sandra shared how to get co-founders onboard, approach the first hiring, and scale the team properly.
"In the early stages, all founders need to do sales. I feel very strongly about it: You need all founders to face the customer, to reach product-market fit."#VentureChallenge at @ETH with Sandra Tobler, CEO of @_futurae, #VentureChallenge.https://t.co/QymeOukHs9 pic.twitter.com/C4QX66p7xL
— Venturelab (@venturelab_ch) March 24, 2021
Venture Challenge #3: Sales for startups
Manuel Hartmann built SalesPlaybook, which provides sales acceleration enablement for B2B entrepreneurs. Manuel explained how to ace sales for startups, find the right distribution channels, and close the contact.
"In the first 15 minutes of a sales meeting, I don’t say anything. I just ask questions. And listen."
— Venturelab (@venturelab_ch) March 30, 2021
Manuel Hartmann, CEO and Founder of https://t.co/e075hQR4pS shares best practices on how startup founders attract their first customers.https://t.co/QymeOukHs9#VentureChallenge pic.twitter.com/fwUnZLbf2f
Venture Challenge #4: Raise the first investment
Edouard Treccani is the head of partnerships at Wingman Ventures, a USD 80 million venture fund committed to pre-Seed and Seed rounds. Edouard illustrated how young entrepreneurs can access investors, prepare for the funding process, and close the investment.
"Is the team working on a cool topic whose market is big? Is the team outstanding and executing?"
— Venturelab (@venturelab_ch) April 20, 2021
2 questions VCs use to evaluate your startup business case - presented by Edouard Treccani of Wingman Ventures at the #VentureChallenge @ETH:https://t.co/9tFTlJGVCI#SwissStartups pic.twitter.com/AKdl3IDNsg
Venture Challenge #5: Financing strategies and negotiating deal terms for your financing round
Thierry Barbey is a Partner at Kellerhals Carrard, one of Switzerland’s leading law firms, where he is the deputy head of the Startup Desk Zurich. Thierry discussed the process and stages of the financing rounds, common and preferred equity financings, and the legal structure of a term sheet.
"How much capital should startups aim to raise? As much as necessary to get to the next major milestone"
— Venturelab (@venturelab_ch) April 14, 2021
Thierry Barbey of Kellerhals Carrard - Startup Desk, addresses science entrepreneurs at the Venture Challenge at @ETH.https://t.co/QymeOukHs9#VentureChallenge pic.twitter.com/F2vMEGRDOn
Venture Challenge #6: How to do the perfect pitch and feedback session
Aike Festini is the co-founder and CEO of the TOP 100 Swiss Startup Luckabox, a B2B logistics platform for last-mile delivery services. Aike shared how to create an investor-ready pitch deck, how to practice pitching, and how to get the most out of a feedback session.
A highly engaging #VentureChallenge session with Aike Festini, Co-founder and CEO of @Luckabox who got two Shark Tank investors to invest in her company:
— Venturelab (@venturelab_ch) April 28, 2021
"Pitching can be bloody hard. But it's worth it. Practice a lot!!!"https://t.co/QCTWZeZKsC#VentureChallenge pic.twitter.com/MeERKNxRiz
Students, PhDs, postdocs, and graduates who are interested in founding their own startups can register for next semester’s Venture Challenge at ETH sessions starting in October—if the epidemiological situation allows, the workshop will be held on campus.
Venturelab thanks all partners and friends of Venture Challenge at ETH that support students and researchers in launching their own companies. We recommend checking out their programs:
- ETH Student Project House runs the Makerspace, a place on campus where all ETH students (bachelor, master, and doctorate) can work on self-initiated projects and perform most types of standard prototyping.
- ETH Entrepreneur Club is a student organization at ETH that empowers young people to start their own startups and pursue their dreams.
- Unicorn Labs a student organization for idea hacking to build minimum viable products for startups in record time
- ETH AI Center is ETH’s central hub for artificial intelligence, fostering entrepreneurship to promote trustworthy, accessible, and inclusive AI systems.
- Students of Material Sciences is an association for students of the Department of Materials at ETH.
- Venture Kick supports startup projects from Swiss universities with coaching and funding of up to CHF 150,000.
