If you’re a mainstay in the startup bubble, you would have undoubtedly come across, or even attended a few Startup Weekends of your own. And if you haven’t heard of Startup Weekend before, read on to find out more about one of the best ways to start your entrepreneurship journey.
Everything You Need To Know About Startup Weekend
Startup Weekend is, well, a weekend event which focuses on the initial ideation process of a startup. The event — held in many locations all around the globe — is typically organised within a 54-hour window over the weekend.
At its core, Startup Weekend encourages groups of individuals with different technical and professional backgrounds to come together and to brainstorm ideas. The ideas are then discussed and worked on in the hopes of coming up with prototypes by the end of the weekend. Since its inception, Startup Weekend has been a huge hit among working professionals such as among developers, business managers, and startup enthusiasts.
Interested in joining the event but don’t know how? Here’s a walkthrough of a typical Startup Weekend:
Meet Up, Team-Up
- Day one of Startup Weekend happens on Friday evenings. During this time, you’ll meet up with your potential teammates for the weekend and fellow startup connoisseurs. Every great event starts with good food, so Startup Weekend unsurprisingly starts with dinner to get the participants to settle down. Then, volunteers will be given one minute to pitch an idea in front of the group — with up to 10 or so business ideas being voted to be developed over the duration of the event. The next step is to then find a group to join in to start working.
- On Saturday, all participants will work around their pitched ideas to come up with some viable business models. Some may even go out into the community to interact with potential customers, sort of like conducting preliminary market research, which allows them to find out whether their ideas are feasible. You’ll even be able to get advice straight from experienced coaches during this time. Make sure to make the most out of it!
The Final Presentation
- Practice, refine, and pitch. The teams will continue to work on their ideas throughout the day on Sunday. Meetings and discussions with the coaches are expected. And further refining business models and incorporating final insights should be the goal. You and your team will also need to develop revenue models and cost structures on the final day. On top of all of this, teams will also need to prepare their final presentations with the pitch coaches before night comes — where your team will be required to deliver a four to five-minute presentation to a panel of judges in the style of an investor pitch. Do also expect a short Q&A sesh after each presentation, so you should ideally have some answers to commonly asked questions on hand. After the presentations are done, the judges will make their final decision and crown the winners of Startup Weekend.
What’s next following this announcement? Celebration!
Your hard work over the weekend has finally come to fruition but that’s not the end of the night just yet. Remember to take advantage of the opportunity to mingle around with your peers and mentors. After all, networking is a very significant part of startup culture!
There you have it, the end of Startup Weekend.