IMD startup competition has started

The IMD Startup competition provides a unique opportunity for regional technology startups to benefit from the help and insights from participants in the IMD MBA and the Executive MBA programs. The objectives of this activity are two-fold: Provide a hands-on learning experience in entrepreneurship and new ventures for the IMD MBA and EMBA classes. And provide input and support to regional early stage companies, to improve their chances of funding and success.

Selection criteria

IMD is looking for early-stage companies that have a solid chance of market success, have a team that is curious and willing to open themselves up to a small group of management "students," can provide a good learning opportunity for our participants and whose timing fits with the IMD programs. More advanced startups facing development issues are also considered.

The venture should ideally be locally based. Ventures with bases further away (Paris, Grenoble, Frankfurt, etc.) will be considered but they have to incorporate the need to travel to Lausanne in their budgets and time agendas. Preference will be given to technology-based enterprises, though this is not a formal requirement.

There is no cost for the startup (except for the Silicon Valley Discovery Expedition for the Executive MBA projects, see below), apart from a requirement to cover the incidental expenses incurred by the participants on behalf of the startup (for example phone calls if an industry survey is conducted, printing of reports, etc.). This will be discussed upfront with the startup before any expenses are incurred.

Up to ten startups will be chosen to work with the two Executive MBA classes, a group of highly experienced managers (average age around 40 years old), who, in small teams, will analyze and challenge their business plans, teams and company strategies.

With the exception of a few meetings with the EMBA class, the majority of the work will be done via e-mail and telephone. Most EMBA teams will also make at least one visit to the company. One or two EMBA teams will be assigned to each company.  Note that there are two cohorts of the EMBA program in 2014 with slightly different schedules.

One member of each startup is required to join the EMBA class in the Discovery Expedition to Silicon Valley, USA, for six days in September. The startup member will participate for free in the Discovery Expedition but must pay its own travel and lodging. In Silicon Valley, the business plans will be pitched to a small group of Silicon Valley venture capitalists and/or angel investors. The IMD EMBA participants will do the pitches, but the entrepreneurs are invited to talk with the potential investors after the pitches.