Entrepreneurship

Startups to learn business management

Starting a business sounds like an extremely daunting task. Where do you begin? What do you have to do? What are the legal procedures? Is this something that you want to pursue long-term? All of these are questions that are asked every day by hopeful entrepreneurs looking to bring their idea to the market. On September 10, a series began at the Albany Law School to help these startups gain a foothold in the complexities of founding a business. The kick-off event was followed up three days later by “Startup Law Day,” also held at Albany Law School. As with Startup Law Day, each event in the series will focus on a unique facet of founding a business and is open to anyone, including students of RPI and other local colleges, faculty, and other community members. On November 1, RPI will host the next event as described by Program Director and Entrepreneur in Residence at the Severino Center for Technological Entrepreneurship Matthew Cusack: “the Startup Business Model Canvas Day is the second event in a series of events offered by several local colleges to assist innovators and entrepreneurs. The business model is becoming the new standard approach for early stage startups, and as such, an important ingredient for someone’s future success.” The business model canvas is a tool used frequently at the Severino Center and in management courses as one of many resources for new businesses. The founders of Embedit Electronics and Coast Designwear praised the business model canvas as a “living document” that became a “useful tool” to their companies. Full testimonials can be found on the Severino Center’s Youtube channel.

The series continues on November 22 with Startup Finance Day at Hudson Valley Community College, followed by meetings on January 31 with Startup Marketing Day at Siena College, on February 28 with Startup Pitch Practice Day at University of Albany, State University of New York, and finishing up with Startup Design Day at Skidmore College. As the series wraps up, business model competition season starts. The Rensselaer Business Model Competition will be held on February 26 and the New York State Business Plan Competition will be held in April. At the state competition alone, prizes exceed $500,000, making preparation even more important. To many startups, that boost could be enough to power them to the next level and possibly to initial success. In the meantime, all they can do is prepare.

To find out more about the event and RSVP, visit: http://poly.rpi.edu/83483. To find out more about the Severino Center, visit: https://scte.rpi.edu.