From DTU project to BUSINESS

Posted on Oct 20, 2012 in Entrepreneurship

As a part of building up and strengthening the entrepreneurial environment at DTU, as well as making more students aware of their opportunities when it come to entrepreneurial adventures, i am featuring a monthly article, on behalf of Stardust-DTU, in the student magazine Krydsfelt.

When each semester ends, many cool and innovative projects are put in the drawer and forgotten. Have you ever thought about taking that project further? Maybe creating a business out of if? Below are a few tips on what to consider, when thinking of entrepreneurship in a student project perspective.

  • Identify problems & see opportunities
    Look out in the world and see where there are problems to be solved – is it the constant lack of space in public trashcans or the too huge energy consumption that interests you? All these problems can be turned around as an opportunity to make a business. As long as you are passionate about the project, it will go somewhere.
  • The business perspective
    Consider how you can create a financial ecosystem and make money on the problem you are solving – what are the solutions, and why will people pay for it? And how will you keep it going? It is all about the value you bring to people. A good way to start is to google the Business Model Canvas and fill it out. 
  • How hard do you want to work?
    You probably already work more than expected on your projects, and this is frustrating – but if you think of the project more long term, and the exam more as a milestone (of course one you want to do well) it might even be more motivating to work harder, play harder and do it better.
  • Starting from a  DTU course
    When doing a project at DTU, it is 100% your own, unless otherwise stated (PhD, company contract etc.) So you have every right to turn a project into business! By doing it through a course, you get ECTS credits, the time you need to use anyway with access to great facilities and a lot of feedback along the way. 
  • Fail and learn
    A last note is that it might all seem scary out there – with such a high risk of failing when starting up a business. But you will merely learn from your mistakes and gain respect. If you reflect and know what you did wrong, you probably won’t do it again.

 

“Think big, start small, scale fast.”

Why to start up while studying:

  • You have a steady income from SU (DK students).
  • You have the maximum freedom and flexibility in your schedule.
  • You are a student, and that influence peoples willingness to help – embrace it!

 

Stardust-DTU
Stardust-DTU is an entrepreneurial organization and network for students at DTU. The organization is nonprofit and focus on promoting an entrepreneurial and innovative environment for students through free events and workshops. Stardust-DTU has the sole purpose of encouraging and providing knowledge for entrepreneurial students.  It raises awareness about student entrepreneurship and enables students to take part in an ever growing entrepreneurial network at both a local and national level.